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Side-by-side financial comparison of QUALYS, INC. (QLYS) and Vericel Corp (VCEL). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $92.9M, roughly 1.9× Vericel Corp). QUALYS, INC. runs the higher net margin — 30.3% vs 25.0%, a 5.3% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 10.1%). QUALYS, INC. produced more free cash flow last quarter ($74.9M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 9.6%).
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
QLYS vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.3M | $92.9M |
| Net Profit | $53.1M | $23.2M |
| Gross Margin | 83.4% | 78.7% |
| Operating Margin | 33.6% | 24.1% |
| Net Margin | 30.3% | 25.0% |
| Revenue YoY | 10.1% | 23.3% |
| Net Profit YoY | 20.9% | 17.3% |
| EPS (diluted) | $1.47 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $169.9M | $67.5M | ||
| Q2 25 | $164.1M | $63.2M | ||
| Q1 25 | $159.9M | $52.6M | ||
| Q4 24 | $159.2M | $75.4M | ||
| Q3 24 | $153.9M | $57.9M | ||
| Q2 24 | $148.7M | $52.7M | ||
| Q1 24 | $145.8M | $51.3M |
| Q4 25 | $53.1M | $23.2M | ||
| Q3 25 | $50.3M | $5.1M | ||
| Q2 25 | $47.3M | $-553.0K | ||
| Q1 25 | $47.5M | $-11.2M | ||
| Q4 24 | $44.0M | $19.8M | ||
| Q3 24 | $46.2M | $-901.0K | ||
| Q2 24 | $43.8M | $-4.7M | ||
| Q1 24 | $39.7M | $-3.9M |
| Q4 25 | 83.4% | 78.7% | ||
| Q3 25 | 83.6% | 73.5% | ||
| Q2 25 | 82.4% | 73.7% | ||
| Q1 25 | 81.9% | 69.0% | ||
| Q4 24 | 81.8% | 77.6% | ||
| Q3 24 | 81.3% | 71.9% | ||
| Q2 24 | 82.2% | 69.5% | ||
| Q1 24 | 81.3% | 68.9% |
| Q4 25 | 33.6% | 24.1% | ||
| Q3 25 | 35.3% | 5.1% | ||
| Q2 25 | 31.3% | -3.2% | ||
| Q1 25 | 32.4% | -24.3% | ||
| Q4 24 | 31.0% | 24.5% | ||
| Q3 24 | 29.2% | -4.3% | ||
| Q2 24 | 32.3% | -11.5% | ||
| Q1 24 | 30.7% | -10.7% |
| Q4 25 | 30.3% | 25.0% | ||
| Q3 25 | 29.6% | 7.5% | ||
| Q2 25 | 28.8% | -0.9% | ||
| Q1 25 | 29.7% | -21.4% | ||
| Q4 24 | 27.6% | 26.3% | ||
| Q3 24 | 30.0% | -1.6% | ||
| Q2 24 | 29.4% | -8.9% | ||
| Q1 24 | 27.2% | -7.5% |
| Q4 25 | $1.47 | $0.46 | ||
| Q3 25 | $1.39 | $0.10 | ||
| Q2 25 | $1.29 | $-0.01 | ||
| Q1 25 | $1.29 | $-0.23 | ||
| Q4 24 | $1.19 | $0.40 | ||
| Q3 24 | $1.24 | $-0.02 | ||
| Q2 24 | $1.17 | $-0.10 | ||
| Q1 24 | $1.05 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $561.2M | $354.6M |
| Total Assets | $1.1B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.3M | $137.5M | ||
| Q3 25 | $225.3M | $135.4M | ||
| Q2 25 | $194.0M | $116.9M | ||
| Q1 25 | $290.7M | $112.9M | ||
| Q4 24 | $232.2M | $116.2M | ||
| Q3 24 | $235.4M | $101.7M | ||
| Q2 24 | $281.2M | $102.5M | ||
| Q1 24 | $273.8M | $110.6M |
| Q4 25 | $561.2M | $354.6M | ||
| Q3 25 | $529.4M | $321.9M | ||
| Q2 25 | $508.2M | $306.8M | ||
| Q1 25 | $498.0M | $295.5M | ||
| Q4 24 | $477.1M | $292.0M | ||
| Q3 24 | $449.6M | $257.5M | ||
| Q2 24 | $427.8M | $243.0M | ||
| Q1 24 | $404.2M | $233.9M |
| Q4 25 | $1.1B | $488.0M | ||
| Q3 25 | $1.0B | $453.3M | ||
| Q2 25 | $999.5M | $435.6M | ||
| Q1 25 | $996.5M | $424.6M | ||
| Q4 24 | $973.5M | $432.7M | ||
| Q3 24 | $908.3M | $390.4M | ||
| Q2 24 | $876.6M | $376.8M | ||
| Q1 24 | $861.8M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $74.9M | $12.8M |
| FCF MarginFCF / Revenue | 42.8% | 13.8% |
| Capex IntensityCapex / Revenue | 0.4% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.42× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $304.4M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.7M | $15.0M | ||
| Q3 25 | $90.4M | $22.1M | ||
| Q2 25 | $33.8M | $8.2M | ||
| Q1 25 | $109.6M | $6.6M | ||
| Q4 24 | $47.7M | $22.2M | ||
| Q3 24 | $61.0M | $10.2M | ||
| Q2 24 | $49.8M | $18.5M | ||
| Q1 24 | $85.5M | $7.2M |
| Q4 25 | $74.9M | $12.8M | ||
| Q3 25 | $89.5M | $19.5M | ||
| Q2 25 | $32.4M | $81.0K | ||
| Q1 25 | $107.5M | $-7.6M | ||
| Q4 24 | $41.9M | $8.5M | ||
| Q3 24 | $57.6M | $-9.2M | ||
| Q2 24 | $48.8M | $1.8M | ||
| Q1 24 | $83.5M | $-6.8M |
| Q4 25 | 42.8% | 13.8% | ||
| Q3 25 | 52.7% | 28.8% | ||
| Q2 25 | 19.8% | 0.1% | ||
| Q1 25 | 67.3% | -14.5% | ||
| Q4 24 | 26.3% | 11.2% | ||
| Q3 24 | 37.4% | -15.9% | ||
| Q2 24 | 32.8% | 3.4% | ||
| Q1 24 | 57.2% | -13.3% |
| Q4 25 | 0.4% | 2.4% | ||
| Q3 25 | 0.5% | 3.9% | ||
| Q2 25 | 0.8% | 12.9% | ||
| Q1 25 | 1.3% | 27.0% | ||
| Q4 24 | 3.7% | 18.3% | ||
| Q3 24 | 2.2% | 33.5% | ||
| Q2 24 | 0.7% | 31.8% | ||
| Q1 24 | 1.4% | 27.3% |
| Q4 25 | 1.42× | 0.65× | ||
| Q3 25 | 1.80× | 4.35× | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 2.31× | — | ||
| Q4 24 | 1.09× | 1.12× | ||
| Q3 24 | 1.32× | — | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
