QLYS
Qualys Inc.
Is QLYS Halal?
Cybersecurity SaaS — permissible digital security.
What You Should Know
Cloud-based vulnerability management and compliance. Zero debt, strong cash flow. Pure SaaS model. Its March 31, 2026 Form 10-Q reports $1,094.636 million of assets, no interest-bearing debt, $280.668 million of cash and restricted cash, $449.881 million of marketable securities, $134.877 million of receivables and $175.638 million of quarterly revenue. Debt/assets is 0.00%, liquidity/assets is 66.74%, receivables-plus-cash/assets is 37.96%, and disclosed interest income is 3.52% of revenue; liquidity and MSCI receivables screens fail despite the permissible software core.
⚠️ Concerns
- •Lower growth than newer cybersec
- •Large marketable-securities balance
- •Liquidity/assets exceeds the examined limits
- •Government and enterprise contracts require review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
0 / 1,094.636
730.549 / 1,094.636
415.545 / 1,094.636
6.176 / 175.638
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 66.74%, above the examined 33.333% limit; debt/assets is 0.00%, receivables-plus-cash/assets is 37.96%, and disclosed interest income is 3.52% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 66.74% and receivables-plus-cash/assets is 37.96%, above the examined MSCI limits; debt/assets is 0.00%.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is above the examined Malaysia 33% limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the liquidity and receivables failures remain independently documented.
Business-activity disclosure
Qualys provides cloud security, vulnerability management and compliance software. The core SaaS business is generally permissible, while customer end uses, government contracts and professional services require qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator across customers, contracts and service lines.
Purification
Qualys discloses $6.176 million of interest income, but does not provide a complete prohibited-activity numerator; no definitive purification percentage is invented.
Inputs, assumptions and primary sources
- Amounts are USD millions from Qualys' March 31, 2026 Form 10-Q.
- Cash and noncurrent restricted cash total $280.668 million; short- and long-term marketable securities total $449.881 million. No interest-bearing debt is reported; operating lease liabilities are excluded.
- Accounts receivable, net are $134.877 million. Revenue is $175.638 million for the quarter and disclosed interest income is $6.176 million.
- Cybersecurity subscriptions and compliance software are generally permissible, but customer end uses and professional services are not reduced to a universal prohibited-activity numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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