Qualys Inc (QLYS)

Quick ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash	US$ in thousands	232,182	235,430	281,205	273,783	205,165	208,724	186,145	193,854	173,719	193,902	120,965	166,287	137,328	145,740	97,278	108,753	74,132	93,027	113,909	147,565
Short-term investments	US$ in thousands	149,241	150,913	112,004	179,887	221,893	218,690	163,107	139,925	147,608	191,378	298,124	290,851	267,960	199,947	262,941	247,982	281,892	225,734	233,922	184,387
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	428,390	388,536	371,829	391,065	389,208	370,491	369,120	352,958	352,188	334,030	327,389	318,538	304,280	284,692	272,708	259,744	255,730	239,055	235,098	234,235
Quick ratio		0.89	0.99	1.06	1.16	1.10	1.15	0.95	0.95	0.91	1.15	1.28	1.44	1.33	1.21	1.32	1.37	1.39	1.33	1.48	1.42

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($232,182K + $149,241K + $—K) ÷ $428,390K
= 0.89

Qualys Inc's quick ratio has fluctuated over the past few years, starting at a healthy level of 1.42 as of March 31, 2020. The ratio increased to 1.48 by June 30, 2020, indicating an improvement in the company's ability to cover its short-term liabilities with its most liquid assets. However, the ratio declined to 1.33 by September 30, 2020, before rebounding to 1.39 by the end of the year.

The trend continued with some volatility in subsequent periods, hovering around the 1.30 mark. There was a minor dip to 1.21 by September 30, 2021, but the ratio recovered to 1.33 by December 31, 2021. Notably, the quick ratio hit a peak of 1.44 as of March 31, 2022, suggesting an improved liquidity position.

However, from the second half of 2022 onwards, there was a downward trend in the quick ratio, dropping to 0.89 by December 31, 2024. This significant decline may raise concerns about Qualys Inc's liquidity and its ability to meet short-term obligations using its quick assets.

Overall, while Qualys Inc maintained a generally healthy quick ratio throughout the period under review, the downward trend in recent quarters warrants further monitoring to ensure the company's liquidity remains adequate.