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Side-by-side financial comparison of QUALYS, INC. (QLYS) and SkyWater Technology, Inc (SKYT). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $171.0M, roughly 1.0× SkyWater Technology, Inc). QUALYS, INC. runs the higher net margin — 30.3% vs -4.5%, a 34.9% gap on every dollar of revenue. On growth, SkyWater Technology, Inc posted the faster year-over-year revenue change (126.6% vs 10.1%). QUALYS, INC. produced more free cash flow last quarter ($74.9M vs $-42.2M). Over the past eight quarters, SkyWater Technology, Inc's revenue compounded faster (46.6% CAGR vs 9.6%).
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
SkyWater Technology, Inc. is an American semiconductor engineering and fabrication foundry, based in Bloomington, Minnesota. It is the only US-owned pure-play silicon foundry.
QLYS vs SKYT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.3M | $171.0M |
| Net Profit | $53.1M | $-7.8M |
| Gross Margin | 83.4% | 14.9% |
| Operating Margin | 33.6% | 0.0% |
| Net Margin | 30.3% | -4.5% |
| Revenue YoY | 10.1% | 126.6% |
| Net Profit YoY | 20.9% | -1045.8% |
| EPS (diluted) | $1.47 | $-0.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $175.3M | $171.0M | ||
| Q3 25 | $169.9M | $150.7M | ||
| Q2 25 | $164.1M | $59.1M | ||
| Q1 25 | $159.9M | $61.3M | ||
| Q4 24 | $159.2M | $75.5M | ||
| Q3 24 | $153.9M | $93.8M | ||
| Q2 24 | $148.7M | $93.3M | ||
| Q1 24 | $145.8M | $79.6M |
| Q4 25 | $53.1M | $-7.8M | ||
| Q3 25 | $50.3M | $144.0M | ||
| Q2 25 | $47.3M | $-10.0M | ||
| Q1 25 | $47.5M | $-7.3M | ||
| Q4 24 | $44.0M | $-679.0K | ||
| Q3 24 | $46.2M | $1.5M | ||
| Q2 24 | $43.8M | $-1.9M | ||
| Q1 24 | $39.7M | $-5.7M |
| Q4 25 | 83.4% | 14.9% | ||
| Q3 25 | 83.6% | 24.0% | ||
| Q2 25 | 82.4% | 18.5% | ||
| Q1 25 | 81.9% | 23.3% | ||
| Q4 24 | 81.8% | 25.6% | ||
| Q3 24 | 81.3% | 21.6% | ||
| Q2 24 | 82.2% | 18.3% | ||
| Q1 24 | 81.3% | 16.3% |
| Q4 25 | 33.6% | 0.0% | ||
| Q3 25 | 35.3% | 5.2% | ||
| Q2 25 | 31.3% | -11.0% | ||
| Q1 25 | 32.4% | -6.6% | ||
| Q4 24 | 31.0% | 3.5% | ||
| Q3 24 | 29.2% | 5.0% | ||
| Q2 24 | 32.3% | 1.5% | ||
| Q1 24 | 30.7% | -2.8% |
| Q4 25 | 30.3% | -4.5% | ||
| Q3 25 | 29.6% | 95.5% | ||
| Q2 25 | 28.8% | -16.9% | ||
| Q1 25 | 29.7% | -12.0% | ||
| Q4 24 | 27.6% | -0.9% | ||
| Q3 24 | 30.0% | 1.6% | ||
| Q2 24 | 29.4% | -2.0% | ||
| Q1 24 | 27.2% | -7.2% |
| Q4 25 | $1.47 | $-0.15 | ||
| Q3 25 | $1.39 | $2.95 | ||
| Q2 25 | $1.29 | $-0.21 | ||
| Q1 25 | $1.29 | $-0.15 | ||
| Q4 24 | $1.19 | $-0.01 | ||
| Q3 24 | $1.24 | $0.03 | ||
| Q2 24 | $1.17 | $-0.04 | ||
| Q1 24 | $1.05 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $250.3M | $23.2M |
| Total DebtLower is stronger | — | $38.9M |
| Stockholders' EquityBook value | $561.2M | $187.8M |
| Total Assets | $1.1B | $733.9M |
| Debt / EquityLower = less leverage | — | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.3M | $23.2M | ||
| Q3 25 | $225.3M | $30.9M | ||
| Q2 25 | $194.0M | $49.4M | ||
| Q1 25 | $290.7M | $51.2M | ||
| Q4 24 | $232.2M | $18.8M | ||
| Q3 24 | $235.4M | $20.7M | ||
| Q2 24 | $281.2M | $18.4M | ||
| Q1 24 | $273.8M | $20.0M |
| Q4 25 | — | $38.9M | ||
| Q3 25 | — | $40.4M | ||
| Q2 25 | — | $42.1M | ||
| Q1 25 | — | $38.6M | ||
| Q4 24 | — | $39.8M | ||
| Q3 24 | — | $41.3M | ||
| Q2 24 | — | $42.4M | ||
| Q1 24 | — | $39.3M |
| Q4 25 | $561.2M | $187.8M | ||
| Q3 25 | $529.4M | $192.8M | ||
| Q2 25 | $508.2M | $45.2M | ||
| Q1 25 | $498.0M | $53.4M | ||
| Q4 24 | $477.1M | $55.6M | ||
| Q3 24 | $449.6M | $56.2M | ||
| Q2 24 | $427.8M | $51.5M | ||
| Q1 24 | $404.2M | $51.3M |
| Q4 25 | $1.1B | $733.9M | ||
| Q3 25 | $1.0B | $787.0M | ||
| Q2 25 | $999.5M | $334.7M | ||
| Q1 25 | $996.5M | $326.8M | ||
| Q4 24 | $973.5M | $311.8M | ||
| Q3 24 | $908.3M | $315.1M | ||
| Q2 24 | $876.6M | $290.4M | ||
| Q1 24 | $861.8M | $312.3M |
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | 0.82× | ||
| Q1 24 | — | 0.77× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $75.7M | $-36.1M |
| Free Cash FlowOCF − Capex | $74.9M | $-42.2M |
| FCF MarginFCF / Revenue | 42.8% | -24.7% |
| Capex IntensityCapex / Revenue | 0.4% | 3.6% |
| Cash ConversionOCF / Net Profit | 1.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | $304.4M | $-53.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.7M | $-36.1M | ||
| Q3 25 | $90.4M | $-47.2M | ||
| Q2 25 | $33.8M | $-1.7M | ||
| Q1 25 | $109.6M | $56.0M | ||
| Q4 24 | $47.7M | $-1.3M | ||
| Q3 24 | $61.0M | $14.3M | ||
| Q2 24 | $49.8M | $9.3M | ||
| Q1 24 | $85.5M | $-3.9M |
| Q4 25 | $74.9M | $-42.2M | ||
| Q3 25 | $89.5M | $-48.0M | ||
| Q2 25 | $32.4M | $-4.3M | ||
| Q1 25 | $107.5M | $41.2M | ||
| Q4 24 | $41.9M | $-2.0M | ||
| Q3 24 | $57.6M | $9.1M | ||
| Q2 24 | $48.8M | $8.5M | ||
| Q1 24 | $83.5M | $-5.2M |
| Q4 25 | 42.8% | -24.7% | ||
| Q3 25 | 52.7% | -31.9% | ||
| Q2 25 | 19.8% | -7.3% | ||
| Q1 25 | 67.3% | 67.2% | ||
| Q4 24 | 26.3% | -2.6% | ||
| Q3 24 | 37.4% | 9.7% | ||
| Q2 24 | 32.8% | 9.1% | ||
| Q1 24 | 57.2% | -6.5% |
| Q4 25 | 0.4% | 3.6% | ||
| Q3 25 | 0.5% | 0.6% | ||
| Q2 25 | 0.8% | 4.5% | ||
| Q1 25 | 1.3% | 24.1% | ||
| Q4 24 | 3.7% | 0.9% | ||
| Q3 24 | 2.2% | 5.5% | ||
| Q2 24 | 0.7% | 0.9% | ||
| Q1 24 | 1.4% | 1.6% |
| Q4 25 | 1.42× | — | ||
| Q3 25 | 1.80× | -0.33× | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 2.31× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.32× | 9.47× | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 2.15× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
SKYT
| Advanced Technology Services Time And Materials And Cost Plus Fixed Fee Contracts | $140.9M | 82% |
| Tool | $28.9M | 17% |
| Overbilling Of ATS Development Revenues | $2.0M | 1% |
