0001437749-20-022558 | 10-Q | XBRL Viewer

Basis of Presentation and Significant Accounting Policies [Text Block]

NOTE 1.

The Company and Summary of Significant Accounting Policies

Description of Business

Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. The Company is headquartered in Foster City, California and has wholly-owned subsidiaries throughout the world. The Company is a pioneer and leading provider of cloud-based information technology ("IT"), security and compliance solutions that enable organizations to identify security risks to their IT infrastructures, help protect their IT systems and applications from ever-evolving cyber-attacks and achieve compliance with internal policies and external regulations. The Company’s cloud solutions address the growing security and compliance complexities and risks that are amplified by the dissolving boundaries between internal and external IT infrastructures and web environments, the rapid adoption of cloud computing and the proliferation of geographically dispersed IT assets. Organizations can use the Company’s integrated suite of solutions delivered on its Qualys Cloud Platform to cost-effectively obtain a unified view of their security and compliance posture across globally distributed IT infrastructures.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information as well as the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of December 31, 2019, included herein, was derived from the audited financial statements as of that date but does not include all disclosures, including notes required by U.S. GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results of operations expected for the entire year ending December 31, 2020 or for any other future annual or interim periods. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 21, 2020.

Risks and Uncertainties

In March 2020, the World Health Organization declared the outbreak of a novel strain of coronavirus (“COVID-19”) as a pandemic. As a result of COVID-19, the Company has modified certain aspects of its business, including restricting employee travel, requiring employees to work from home, and canceling certain events and meetings, among other modifications. The Company will continue to actively monitor the situation and may take further actions that alter its business operations as may be required by federal, state or local authorities or that the Company determines are in the best interests of its employees, customers, partners, suppliers and stockholders. While the Company has not incurred significant disruptions from the COVID-19 outbreak, the Company is unable to accurately predict the full impact that COVID-19 will have due to numerous uncertainties, including the duration of the outbreak, actions that may be taken by governmental authorities and the impact to the business of its customers and partners. The Company will continue to evaluate the nature and extent of the impact to its business, financial position, results of operations and cash flows.

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, the valuation of accounts receivable, goodwill and intangible assets, capitalization of internally developed software, stock-based compensation and the provision for income taxes. Actual results could differ from those estimates and such differences may be material to the accompanying unaudited condensed consolidated financial statements.

Derivative Financial Instruments

Derivative financial instruments are utilized by the Company to reduce foreign currency exchange risks. The Company uses foreign currency forward contracts to mitigate the impact of foreign currency fluctuations of certain non-U.S. dollar denominated net asset positions, to date primarily cash, accounts receivable and operating lease liabilities, as well as to manage foreign currency fluctuation risk related to forecasted transactions. Open contracts are recorded within prepaid expenses and other current assets, other noncurrent assets, accrued liabilities or other noncurrent liabilities in the condensed consolidated balance sheets. Gains and losses resulting from currency exchange rate movements on non-designated forward contracts are recognized in other income (expense), net. Any gains or losses from derivatives designated as cash flow hedges are first recorded within accumulated other comprehensive income ("AOCI") and then reclassified into revenue or operating expenses when the hedged item impacts the condensed consolidated statements of operations.

Stock-Based Compensation

The Company recognizes the fair value of its employee stock options and restricted stock units over the requisite service periods for those awards ultimately expected to vest. The fair value of each option is estimated on the date of grant using the Black-Scholes-Merton option pricing model and the fair value of each restricted stock unit ("RSU") is based on the price of the Company's stock on the date of grant. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates.

The Company has issued performance-based awards and stock options, and accounts for these awards and options as stock-based compensation with multiple performance conditions. For these performance-based awards, the Company records compensation expense for only the performance milestones that are probable of being achieved, with such expense recorded on a straight-line basis over the expected vesting period. The Company reassesses performance-based estimates each reporting period and if there are any changes in the probability of achievement, the Company recognizes the cumulative effect in the period when the estimate changes.

Non-Marketable Securities

During the fiscal year ended December 31, 2018, the Company invested $2.5 million in preferred stock of a privately-held company. The fair value of the investment is not readily available, and there are no quoted market prices for the investment. The investment is included in other noncurrent assets on the condensed consolidated balance sheets and measured at cost less impairment, adjusted for observable price changes. The investment is assessed for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. During the second quarter ended June 30, 2019, the Company made an advance payment of $0.6 million to the investee for certain development work, which is recorded in other noncurrent assets on the condensed consolidated balance sheet. During the third quarter ended September 30, 2019, the Company made an additional investment of $0.6 million in a convertible security issued by this investee and recorded it in other current assets on the condensed consolidated balance sheet. As of September 30, 2020 and December 31, 2019, no impairment was recorded for the investments.

Recently Adopted Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs related to internal-use software. It also requires the Company to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. The Company adopted this ASU prospectively to applicable implementation costs incurred since January 1, 2020. The adoption did not have a material impact on the Company's condensed consolidated financial statements.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) as modified by subsequently issued ASU No. 2018-19, 2019-04 and 2019-05, which introduces a new accounting model, Current Expected Credit Losses ("CECL"). CECL requires earlier recognition of credit losses, while also providing additional transparency about credit risk. CECL utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The Company adopted this ASU on January 1, 2020, using a modified retrospective transition method, which requires a cumulative-effect adjustment, if any, to the opening balance of retained earnings to be recognized on the date of adoption with prior periods not restated. The adoption did not have a material impact on the Company's condensed consolidated financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) ("ASU 2020-01"). This ASU clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. It is effective for the Company beginning in the first quarter of fiscal 2021, and earlier adoption is permitted. The Company is currently evaluating the impact of its pending adoption of ASU 2020-01 on the Company's condensed consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes ("ASU 2019-12"), which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for the Company for fiscal years beginning after December 15, 2020. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company is currently evaluating the impacts of the provisions of ASU 2019-12 on its condensed consolidated financial statements.

Note 2 - Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Text Block]

NOTE 2.

Fair Value of Financial Instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For certain of the Company’s financial instruments, including certain cash equivalents, accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair values due to the relatively short maturity of these balances.

The Company measures and reports certain cash equivalents, marketable securities, derivative foreign currency forward contracts and commitments associated with prior business combinations at fair value in accordance with the provisions of the authoritative accounting guidance that addresses fair value measurements. This guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1-Valuations based on quoted prices in active markets for identical assets or liabilities.

Level 2-Valuations based on other than quoted prices in active markets for identical assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3-Valuations based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

The Company's Level 1 assets include highly liquid money market funds, which are valued using unadjusted quoted prices that are available in an active market for an identical asset. Level 2 assets include fixed-income U.S. government agency securities, commercial paper, corporate bonds, asset-backed securities and derivative financial instruments consisting of foreign currency forward contracts. The securities, bonds and commercial paper are valued using prices from independent pricing services based on quoted prices in active markets for similar instruments or on industry models using data inputs such as interest rates and prices that can be directly observed or corroborated in active markets. The foreign currency forward contracts are valued using observable inputs, such as quotations on forward foreign exchange points and foreign interest rates. During the fiscal years ended December 31, 2019 and 2018, the Company made investments of $0.6 million in a convertible security and $2.5 million in preferred stock, respectively, issued by a privately-held company. The estimated fair value of the investments was determined based on Level 3 inputs. As of September 30, 2020 and December 31, 2019, management estimated that the fair value of the investments equaled their carrying value.

The Company's cash and cash equivalents, and marketable securities consist of the following:

	*September 30, 2020*
			*Unrealized*		*Unrealized*
	*Amortized Cost*		*Gains*		*(Losses)*			*Fair Value*
	(in thousands)
Cash and cash equivalents:
Cash	$	33,566	$	—	$	—		$	33,566
Money market funds		58,511		—		—			58,511
Commercial paper		950		—		—			950
Total		93,027		—		—			93,027
Short-term marketable securities:
Commercial paper		649		—		—			649
Corporate bonds		30,508		249		(1	)		30,756
Asset-backed securities		5,514		25		—			5,539
U.S. government agencies		188,525		266		(1	)		188,790
Total		225,196		540		(2	)		225,734
Long-term marketable securities:
Asset-backed securities		40,367		290		—			40,657
U.S. government agencies		37,414		373		(2	)		37,785
Foreign government agencies		1,001		33		—			1,034
Corporate bonds		52,870		920		(6	)		53,784
Total		131,652		1,616		(8	)		133,260
Total	$	449,875	$	2,156	$	(10	)	$	452,021

	December 31, 2019
			Unrealized		Unrealized
	Amortized Cost		Gains		(Losses)			Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	84,102	$	—	$	—		$	84,102
Money market funds		58		—		—			58
Commercial paper		3,399		—		—			3,399
Total		87,559		—		—			87,559
Short-term marketable securities:
Commercial paper		2,239		—		—			2,239
Corporate bonds		33,048		51		(1	)		33,098
Asset-backed securities		2,438		11		—			2,449
U.S. government agencies		173,364		184		(3	)		173,545
Total		211,089		246		(4	)		211,331
Long-term marketable securities:
Asset-backed securities		40,001		193		(1	)		40,193
U.S. government agencies		46,447		370		—			46,817
Corporate bonds		32,236		262		—			32,498
Total		118,684		825		(1	)		119,508
Total	$	417,332	$	1,071	$	(5	)	$	418,398

There were no marketable securities that had been in a continuous unrealized loss position for 12 months or longer. As of September 30, 2020, the Company had the ability and intent to hold all marketable securities that were in an unrealized loss position until maturity or recovery. The Company considered the extent to which fair value was less than amortized cost basis and conditions related to security’s industry and geography and changes to the ratings, if any, and concluded the decline in fair value compared to carrying value was not related to credit loss.

The following table sets forth by level within the fair value hierarchy the fair value of the Company's cash equivalents and marketable securities measured on a recurring basis:

	*September 30, 2020*
	*Level 1*		*Level 2*		*Fair Value*
	(in thousands)
Money market funds	$	58,511	$	—	$	58,511
Commercial paper		—		1,599		1,599
U.S. government agencies		—		226,575		226,575
Foreign government agencies		—		1,034		1,034
Corporate bonds		—		84,540		84,540
Asset-backed securities		—		46,196		46,196
Total	$	58,511	$	359,944	$	418,455

	December 31, 2019
	Level 1		Level 2		Fair Value
	(in thousands)
Money market funds	$	58	$	—	$	58
Commercial paper		—		5,638		5,638
U.S. government agencies		—		220,362		220,362
Corporate bonds		—		65,596		65,596
Asset-backed securities		—		42,642		42,642
Total	$	58	$	334,238	$	334,296

There were no transfers between Level 1 and Level 2 of the fair value hierarchy, as determined at the end of each reporting period.

The following summarizes the fair value of marketable securities by contractual maturity as of September 30, 2020 and December 31, 2019:

	*September 30, 2020*
	*Mature within*		*Mature after One Year*		*Mature over*
	*One Year*		*through Two Years*		*Two Years*		*Fair Value*
	(in thousands)
Commercial paper	$	1,599	$	—	$	—	$	1,599
U.S. government agencies		188,790		37,600		185		226,575
Foreign government agencies		—		—		1,034		1,034
Corporate bonds		30,756		33,505		20,279		84,540
Asset-backed securities		5,539		17,788		22,869		46,196
Total	$	226,684	$	88,893	$	44,367	$	359,944

December 31, 2019

Mature within

Mature after One Year

Mature over

One Year

through Two Years

Two Years

Fair Value

(in thousands)

Commercial paper
$ 5,638 $ — $ — $ 5,638

U.S. government agencies
173,546 46,816 — 220,362

Corporate bonds
33,098 23,251 9,247 65,596

Asset-backed securities
2,449 15,550 24,643 42,642

Total
$ 214,731 $ 85,617 $ 33,890 $ 334,238

Derivative Financial Instruments

Designated cash flow hedges

The Company uses a hedging strategy to reduce its exposure to foreign currency exchange rate fluctuations for forecasted subscription renewals and new orders in British Pound ("GBP") and Euro. The Company uses forward currency contracts accounted for as cash flow hedges against a designated portion of forecasted subscription renewals and new orders. Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in AOCI and will be reclassified into revenues in the same periods when the hedged contracts are recognized into revenues.

In addition, the Company uses a hedging strategy to reduce its exposure associated with costs incurred in Indian Rupee ("INR"). Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in AOCI and will be reclassified into operating expenses when the associated hedged expenses are incurred.

At September 30, 2020, the Company had 39 open designated cash flow hedge contracts with notional amounts of €22.5 million,£8.8 million and Rs.1,745.0 million. At December 31, 2019, the Company had 26 open designated cash flow hedge contracts with notional amounts of €24.2 million and £9.7 million.

The following table shows the gains and losses, before tax, of the Company's derivative instruments designated as cash flow hedges in AOCI and the condensed consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019:

Three Months Ended September 30,

Nine Months Ended September 30,

Derivative instruments designated as cash flow hedges:

2020

2019

2020

2019

(in thousands)

Net unrealized gains (losses) recognized in AOCI:

Foreign currency forward contracts (GBP, Euro and INR)
$ (931 ) $ 1,385 $ (662 ) $ 1,827

Net unrealized (gains) losses reclassified from AOCI into income:

Foreign currency forward contracts (GBP and Euro)
(297 ) (79 ) (873 ) (10 )

Foreign currency forward contracts (INR)
127 — 342 —

Net change in AOCI before tax
$ (1,101 ) $ 1,306 $ (1,193 ) $ 1,817

As of September 30, 2020, the net amount of unrealized gains and losses on the foreign currency forward contracts for GBP and Euro reported in AOCI that is expected to be reclassified into revenue within the next 12 months is a loss of $0.5 million (before tax). As of September 30, 2020, the net amount of unrealized gains and losses on the foreign currency forward contracts for INR reported in AOCI that is expected to be reclassified into operating expenses is a gain of $0.1 million (before tax).

Non-designated forward contracts

At September 30, 2020, the Company had 18 outstanding non-designated forward contracts with notional amounts of €13.9 million, £8.0 million and Rs.173.6 million. At December 31, 2019, the Company had 15 outstanding non-designated forward contracts with notional amounts of €20.0 million, £5.6 million and Rs.756.0 million.

The following summarizes derivative financial instruments as of September 30, 2020 and December 31, 2019:

September 30,

December 31,

2020

2019

Assets

(in thousands)

Foreign currency forward contracts designated as cash flow hedge
$ 396 $ 427

Foreign currency forward contracts not designated as hedging instruments
292 515

Total
$ 688 $ 942

Liabilities

Foreign currency forward contracts designated as cash flow hedge
$ (1,227 ) $ (524 )

Foreign currency forward contracts not designated as hedging instruments
(665 ) (550 )

Total
$ (1,892 ) $ (1,074 )

All foreign currency forward contracts were valued at fair value using Level 2 inputs.

The following summarizes the gains (losses) recognized from forward contracts and other foreign currency transactions in other income, net on the condensed consolidated statements of operations:

Three Months Ended

Nine Months Ended

September 30,

September 30,

2020

2019

2020

2019

(in thousands)

Net gains (losses) from non-designated forward contracts
$ (688 ) $ 642 $ (108 ) $ 708

Other foreign currency transactions gains (losses)
961 (906 ) 565 (839 )

Total foreign exchange gains (losses), net
273 (264 ) 457 (131 )

Other expenses
(64 ) (64 ) (189 ) (189 )

Other income (loss), net
$ 209 $ (328 ) $ 268 $ (320 )

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Note 3 - Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income Disclosure [Text Block]

NOTE 3.

Accumulated Other Comprehensive Income

The components and changes in accumulated other comprehensive income, net of taxes, for the nine months ended September 30, 2020 and 2019 were as follows:

	*Unrealized*		*Unrealized*
	*gains*		*gains (losses)*
	*on AFS debt*		*on cash flow*
	*securities*		*hedges*			*Total*
	(in thousands)
Balances as of December 31, 2019	$	822	$	340		$	1,162
Other comprehensive income (loss) before reclassification		825		(510	)		315
Reclassification of (gains) losses from other comprehensive income		8		(410	)		(402	)
Total change in unrealized gains (losses), net of tax		833		(920	)		(87	)
Balances as of September 30, 2020	$	1,655	$	(580	)	$	1,075

Unrealized

Unrealized

gains (losses)

gains (losses)

on AFS debt

on cash flow

securities

hedges

Total

(in thousands)

Balances as of December 31, 2018
$ (545 ) $ (41 ) $ (586 )

Other comprehensive income before reclassification
1,419 1,423 2,842

Reclassification of (gains) losses from other comprehensive income
25 (10 ) 15

Total change in unrealized gains, net of tax
1,444 1,413 2,857

Balances as of September 30, 2019
$ 899 $ 1,372 $ 2,271

Note 4 - Property and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4.

Property and Equipment, Net

Property and equipment, net, which includes assets under finance leases, consists of the following:

	*September 30,*			*December 31,*
	*2020*			*2019*
	(in thousands)
Computer equipment	$	133,628		$	112,599
Computer software		26,298			26,137
Furniture, fixtures and equipment		8,335			6,973
Finance leases - right of use asset		3,503			3,503
Scanner appliances		16,388			15,864
Leasehold improvements		21,043			18,817
Total property and equipment		209,195			183,893
Less: accumulated depreciation and amortization		(141,621	)		(123,314	)
Property and equipment, net	$	67,574		$	60,579

Physical scanner appliances and other computer equipment had a net carrying value of $7.4 million and $4.9 million at September 30, 2020 and December 31, 2019, respectively, including assets that had not been placed in service of $3.7 million and $0.9 million, respectively. Depreciation and amortization expense relating to property and equipment, including assets under finance leases, was $6.7 million and $6.2 million for the three months ended September 30, 2020 and 2019, respectively, and $19.3 million and $18.9 million for the nine months ended September 30, 2020 and 2019, respectively.

Note 5 - Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Text Block]

NOTE 5.

Revenue from Contracts with Customers

The Company's subscription contracts are typically satisfied ratably over the subscription term as its cloud-based offerings are delivered to customers electronically and over time. In addition, the Company recognizes revenues for certain limited scan arrangements on an as-used basis. The Company recognizes revenue related to professional services based on time and materials or completion of milestones stated in the contracts.

As the vast majority of the Company’s offerings are subscription based, the Company rarely needs to allocate the transaction price to separate performance obligations. In the rare case that allocation of the transaction price is needed, the Company recognizes revenue in proportion to the standalone selling prices ("SSP") of the underlying services at contract inception. If an SSP is not directly observable, the Company determines the SSP using information that may include market conditions and other observable inputs. The Company's transaction prices typically do not include variable consideration and are a fixed amount for a specific period of time, and the majority of contracts are twelve months with certain customers signing longer term deals. In general, the Company does not offer rights of return, performance bonuses, customer loyalty programs, payments via non-cash methods, refunds, volume rebates, incentive payments, penalties, price concessions or payments or discounts contingent on future events and the Company does not grant its customers any material rights. For contracts that include leased scanners and PCPs, the Company applies the lease and non-lease component practical expedient under ASC 842 to account for non-lease components and lease components as combined components under the revenue recognition guidance in ASU 2014-09, "Revenue from Contracts with Customers" (Topic 606) as the subscriptions are the predominant components in the arrangements.

Costs of shipping and handling charges associated with physical scanner appliances and other computer equipment are included in cost of revenues. Sales taxes and other taxes collected from customers to be remitted to government authorities are excluded from revenues.

Incremental direct costs of obtaining a contract, which consist of sales commissions primarily for new business and upsells, are deferred and amortized over the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. The Company elected the practical expedient to expense commissions on renewals where the specific anticipated contract term amortization period is one year or less. The Company amortizes the capitalized commission cost as a selling expense on a straight-line basis over a period of five years. The Company classifies deferred commissions as current or noncurrent based on the timing of when it expects to recognize the expense. The current and noncurrent portions of deferred commissions are included in prepaid expenses and other current assets and other noncurrent assets, respectively, in its condensed consolidated balance sheets.

Capitalized costs to obtain contracts, current and noncurrent are as follows:

	*September 30, 2020*		*December 31, 2019*
	(in thousands)
Commission asset, current	$	3,213	$	2,568
Commission asset, noncurrent	$	6,783	$	6,454

For the three months ended September 30, 2020 and 2019, the Company recognized $0.8 million and $0.5 million, respectively, of commission expense from amortization of its commission assets. For the nine months ended September 30, 2020 and 2019, the Company recognized $2.2 million and $1.4 million, respectively, of commission expense from amortization of its commission assets. During the same periods, there was no impairment loss related to capitalized costs.

The Company records deferred revenue when cash payments are received or due in advance of its performance offset by revenue recognized in the period. Revenue of $38.3 million and $31.3 million was recognized during the three months ended September 30, 2020 and 2019, respectively, which amounts were included in the deferred revenue balances as of December 31, 2019 and 2018, respectively. Revenue of $168.0 million and $144.6 million was recognized during the nine months ended September 30, 2020 and 2019, respectively, which amounts were included in the deferred revenue balances as of December 31, 2019 and 2018, respectively.

The Company's payment terms vary by the type and location of its customer and the products or services offered. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer.

The following table sets forth the expected revenue from all remaining performance obligations as of September 30, 2020:

	*Total Expected Revenue*
	(in thousands)
2020 (remaining three months)	$	28,515
2021		82,348
2022		50,129
2023		18,779
2024		949
2025 and thereafter		406
Total	$	181,126

Revenues allocated to remaining performance obligations represents contracted revenues that have not yet been recognized, which include deferred revenue and the amounts that will be invoiced and recognized as revenues in future periods from open contracts. Remaining performance obligations represent the transaction price of noncancelable orders for which service has not been performed and excludes unexercised renewals. The Company applied the short-term contract exemption to exclude the remaining performance obligations that are part of a contract that has an original expected duration of one year or less.

From time to time, the Company enters into contracts with customers that extend beyond one year, with certain of its customers electing to pay for more than one year of services upon contract execution. For any discounts associated with these multiple year contracts, the Company concluded its contracts did not contain a financing component.

Revenues by sales channel are as follows:

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
Direct	$	54,821	$	47,997	$	156,631	$	136,708
Partner		38,248		34,674		111,531		100,235
Total	$	93,069	$	82,671	$	268,162	$	236,943

The Company utilizes partners to enable and accelerate the adoption of its cloud platform by increasing its distribution capabilities and market awareness of its cloud platform as well as by targeting geographic regions outside the reach of its direct sales force. The Company's channel partners maintain relationships with their customers throughout the territories in which they operate and provide their customers with services and third-party solutions to help meet those customers’ evolving security and compliance requirements. As such, these partners may offer the Company's IT, security and compliance solutions in conjunction with one or more of their own products or services and act as a conduit through which the Company can connect with these prospective customers to offer its solutions. For sales involving a channel partner, the channel partner engages with the prospective customer directly and involves the Company's sales team as needed to assist in developing and closing an order. When a channel partner secures a sale, the Company sells the associated subscription to the channel partner who in turn resells the subscription to the customer. Sales to channel partners are made at a discount and revenues are recorded at this discounted price over the subscription terms. The Company does not have any influence or specific knowledge of its partners' selling terms with their customers. See Note 13, "Segment Information and Information about Geographic Area" for disaggregation of revenue by geographic area.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Note 6 - Acquisitions

9 Months Ended

Sep. 30, 2020

Business Combination Disclosure [Text Block]

NOTE 6.

Acquisitions

On January 10, 2019, the Company acquired the assets of Adya, Inc. ("Adya"), an India-based company. The acquisition included a cloud application management platform, which enables security and compliance audits of SaaS applications.

Total purchase consideration was $1.0 million, including $0.2 million of deferred consideration due 18 months from the closing date of the acquisition, subject to potential adjustment from possible indemnity claims. During the three months ended September 30, 2020, the $0.2 million of deferred consideration was fully paid to Adya.

The Company accounted for this transaction as a business combination and allocated $0.9 million of the purchase price to technology-based intangible assets and $0.1 million to goodwill. The acquired intangible assets relating to Adya's developed technology are being amortized over the estimated useful lives of approximately four years. Goodwill arising from the Adya acquisition is deductible for tax purposes over 15 years.

On July 24, 2020, the Company acquired certain intangible assets of Spell Security Private Limited ("Spell Security"), a privately held company incorporated in India. Spell Security’s technology expands the Company's endpoint behavior detection, threat hunting, malware research and multi-layered response capabilities for its EDR application. The purchase consideration related to the acquisition was $1.5 million in cash, including $0.2 million of deferred consideration due 15 months from the closing date of the acquisition, subject to potential adjustment from possible indemnity claims.

The Company accounted for this transaction as an asset purchase. The Company recognized intangible assets of $1.0 million for developed technology and $0.5 million for non-compete agreements, which will be amortized over four and two years, respectively.

Note 7 - Intangible Assets, Net

9 Months Ended

Sep. 30, 2020

Intangible Assets Disclosure [Text Block]

NOTE 7.

Intangible Assets, Net

Intangible assets consist primarily of developed technology and patent licenses from business combinations. Acquired intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets.

The carrying values of intangible assets are as follows:

			*September 30, 2020*
		*Weighted*
	*Weighted*	*Average*
	*Average Life*	*Remaining*			*Accumulated*			*Net Book*
(in thousands, except for years)	*(Years)*	*Life (Years)*	*Cost*		*Amortization*			*Value*
Developed technology	4.6	2.1	$	27,356	$	(14,593	)	$	12,763
Patent licenses	14.0	3.9		1,387		(997	)	$	390
Non-compete agreements	2.0	1.8		500		(42	)	$	458
Total intangibles subject to amortization			$	29,243	$	(15,632	)		13,611
Intangible assets not subject to amortization									40
Total intangible assets, net								$	13,651

			December 31, 2019
		*Weighted*
	*Weighted*	*Average*
	*Average Life*	*Remaining*			*Accumulated*			*Net Book*
(in thousands, except for years)	*(Years)*	*Life (Years)*	*Cost*		*Amortization*			*Value*
Developed technology	4.6	2.7	$	26,356	$	(10,066	)	$	16,290
Patent licenses	14.0	4.7		1,387		(922	)		465
Total intangibles subject to amortization			$	27,743	$	(10,988	)		16,755
Intangible assets not subject to amortization									40
Total intangible assets, net								$	16,795

Intangible asset amortization expense was $1.6 million and $1.5 million for the three months ended September 30, 2020 and 2019, respectively, and $4.6 million for each of the nine months ended September 30, 2020 and 2019.

As of September 30, 2020, the Company expects amortization expense in future periods to be as follows:

	Amortization Expense
	(in thousands)
2020 (remaining three months)	$	1,645
2021		6,581
2022		4,823
2023		350
2024		212
Total expected future amortization expense	$	13,611

Qualys, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Note 8 - Leases

9 Months Ended

Sep. 30, 2020

Lessee, Operating Leases and Finance Lease [Text Block]

NOTE 8.

Leases

On January 1, 2019, the Company adopted ASU No. 2016-02, “Leases (Topic 842),” which requires leases with durations greater than twelve months to be recognized on the balance sheet. We adopted the standard using the current period adjustment method with an effective date of January 1, 2019. For both operating and finance leases, we recognize a right-of-use asset, which represents our right to use the underlying asset for the lease term, and a lease liability, which represents the present value of our obligation to make payments arising over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases. The incremental borrowing rate is determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term.

Where the Company is the lessee, the Company elected to account for non-lease components associated with its leases (e.g., common area maintenance costs) and lease components separately for substantially all of its asset classes, except for data centers, for which the Company elected to combine lease and non-lease components. In arrangements where the Company is the lessor, the Company elected to apply the practical expedient which allows the Company to account for lease components (e.g., customer premise equipment) and non-lease components (e.g., service revenue) as combined components under the revenue recognition guidance in Topic 606 as service revenues are the predominant components in the arrangements.

The Company leases property and equipment under finance and operating leases. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments over the term. Many of its leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate.

When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate an incremental borrowing rate to discount the lease payments based on information available at lease commencement.

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

		*September 30,*		*December 31,*
(in thousands)	*Classification on the Balance Sheet*	*2020*		*2019*
Assets
Operating lease assets	Operating lease - right of use asset	$	47,985	$	40,551
Finance lease assets	Property and equipment, net		423		1,299
Total lease assets		$	48,408	$	41,850

Liabilities
Current
Operating	Operating lease liabilities, current	$	11,777	$	7,663
Finance	Accrued liabilities		86		124
Noncurrent
Operating	Operating lease liabilities, noncurrent		48,392		44,015
Finance	Other noncurrent liabilities		—		54
Total lease liabilities		$	60,255	$	51,856

The Company leases certain offices, computer equipment and its data center facilities under non-cancelable operating leases for varying periods through 2028. Lease expense was $4.6 million and $3.3 million for the three months ended September 30, 2020 and 2019, respectively, and $13.5 million and $9.6 million for the nine months ended September 30, 2020 and 2019, respectively.

Supplemental cash flow information related to operating leases was as follows:

	*Nine Months Ended*
	*September 30,*
	*2020*		*2019*
	(in thousands)
Cash payments included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,183	$	6,469
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	15,735	$	1,553

Operating and financing cash flows from finance leases were immaterial during the nine months ended September 30, 2020 and 2019.

The weighted average remaining lease term and the weighted average discount rate of the Company's leases were as follows:

	*September 30, 2020*			*September 30, 2019*
Weighted average remaining lease term (years)
Operating leases		5.4			7.1
Finance leases		0.3			0.8
Weighted average discount rates
Operating leases		4.8	%		4.6	%
Finance leases		5.0	%		5.0	%

Note 9 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Text Block]

NOTE 9.

Commitments and Contingencies

Indemnifications

The Company from time to time enters into certain types of contracts that contingently require it to indemnify various parties against claims from third parties. These contracts primarily relate to (i) the Company's by-laws, under which it must indemnify directors and executive officers, and may indemnify other officers and employees, for liabilities arising out of their relationship, (ii) contracts under which the Company must indemnify directors and certain officers for liabilities arising out of their relationship, and (iii) contracts under which the Company may be required to indemnify customers or resellers from certain liabilities arising from potential infringement of intellectual property rights, as well as potential damages caused by limited product defects. To date, the Company has not incurred and has not recorded any liability in connection with such indemnifications.

The Company maintains director and officer insurance, which may cover certain liabilities arising from its obligation to indemnify its directors.

Note 10 - Stockholders' Equity and Stock-based Compensation

9 Months Ended

Sep. 30, 2020

Shareholders' Equity and Share-based Payments [Text Block]

NOTE 10.

Stockholders' Equity and Stock-Based Compensation

Equity Incentive Plans

2012 Equity Incentive Plan

Under the 2012 Equity Incentive Plan (the "2012 Plan"), the Company is authorized to grant to eligible participants incentive stock options (“ISOs”), non-statutory stock options (“NSOs”), stock appreciation rights ("SARs"), restricted stock awards ("RSAs"), restricted stock units ("RSUs"), performance units and performance shares equivalent to up to 15.7 million shares of common stock as of September 30, 2020. Options may be granted with an exercise price that is at least equal to the fair market value of the Company's stock at the date of grant and are exercisable when vested. As of September 30, 2020, 7.2 million shares were available for grant under the 2012 Plan.

2000 Equity Incentive Plan

Under the 2000 Equity Incentive Plan (the "2000 Plan"), the Company was authorized to grant to eligible participants either ISOs or NSOs. The 2000 Plan was terminated in connection with the closing of the Company's initial public offering, and accordingly, no shares are currently available for grant under the 2000 Plan. The 2000 Plan continues to govern outstanding awards granted thereunder.

Stock-Based Compensation

The following table shows a summary of the stock-based compensation expense included in the condensed consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019:

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
Cost of revenues	$	770	$	577	$	1,967	$	1,674
Research and development		3,197		2,831		9,887		7,875
Sales and marketing		1,227		1,459		4,300		3,590
General and administrative		5,295		3,516		13,776		12,024
Total stock-based compensation	$	10,489	$	8,383	$	29,930	$	25,163

As of September 30, 2020, the Company had $16.6 million of total unrecognized stock-based compensation cost related to unvested options which was expected to be recognized over a weighted-average period of 2.2 years, and $54.1 million of unrecognized stock-based compensation cost related to unvested RSUs which was expected to be recognized over a weighted-average period of 2.4 years. Compensation cost is recognized over the service period. Forfeitures are estimated at the time of grant and revised in subsequent periods, if actual forfeitures differ from those estimates.

Stock Option Plan Activity

A summary of the Company’s stock option activity is as follows:

						*Weighted*
						*Average*
				*Weighted*		*Remaining*
	*Outstanding*			*Average*		*Contractual*	*Aggregate*
	*Options*			*Exercise Price*		*Life (Years)*	*Intrinsic Value*
							(in thousands)
Balance as of December 31, 2019		2,866,675		$	40.54	6.0	$	125,647
Granted		269,950		$	107.01
Exercised		(695,468	)	$	34.46
Canceled		(84,486	)	$	86.08
Balance as of September 30, 2020		2,356,671		$	48.32	6.0	$	120,055
Vested and expected to vest - September 30, 2020		2,208,860		$	45.07	5.8	$	118,883
Exercisable - September 30, 2020		1,666,292		$	30.49	4.8	$	112,502

Restricted Stock

A summary of the Company’s RSU activity is as follows:

				*Weighted*
				*Average Grant*
	*Outstanding*			*Date Fair Value*
	*RSUs*			*Per Share*

Balance as of December 31, 2019		1,214,818		$	67.99
Granted		214,380		$	106.72
Vested		(382,011	)	$	61.84
Canceled		(194,576	)	$	75.60
Balance as of September 30, 2020		852,611		$	81.33
Outstanding and expected to vest - September 30, 2020		640,166		$	79.28

Performance-Based Stock Options and Restricted Stock Units

On November 2, 2019, the Compensation Committee of the Company's board of directors granted the equity award for 2020, which consisted of time-based RSUs and performance-based non-statutory stock options ("NSOs"), to the Company’s Chairman and Chief Executive Officer, Philippe Courtot. The Compensation Committee, in consultation with its independent compensation consultant, designed these awards so that greater than 50% of this compensation was based on the achievement of performance goals linked to metrics designed to drive the creation of shareholder value.

The first portion of the award consists of 48,683 time-based RSUs that will vest in 16 quarterly installments beginning on December 1, 2019, assuming continued service through each applicable vesting date. The second portion of the award consists of 123,856 NSOs that will vest at the end of the performance period based on achievement of goals related to revenue growth and free cash flow per share growth during the three-year period from January 2020 through December 2022, generally conditioned on Mr. Courtot’s continued status as a service provider through the date that performance is certified. If Mr. Courtot’s employment (a) is terminated by reason of death or disability or (b) is terminated by the Company for reasons other than cause within 12 months following a change in control, then 100% of any unvested portions of the award will vest, with any vesting in connection with change in control terminations conditioned upon the effectiveness of a release of claims in favor of the Company (2019 performance-based NSOs).

On December 21, 2018, the Compensation Committee granted the equity award for 2019, which consisted of time-based and performance-based RSUs, to Mr. Courtot. The Compensation Committee, in consultation with its independent compensation consultant, designed these awards so that greater than 50% of this compensation was based on the achievement of performance goals linked to metrics designed to drive the creation of shareholder value.

The first portion of the award consists of 56,250 time-based RSUs that will vest in 16 quarterly increments beginning on January 1, 2019, assuming continued service through each applicable vesting date. The second portion of the award consists of 33,089 performance-based RSUs that will vest based on achievement of goals related to revenue growth for a three-year period from January 2019 through December 2021 and Adjusted EBITDA margin for the 2021 fiscal year, generally conditioned on Mr. Courtot’s continued status as a service provider through the date that performance is certified. The third portion of the award consists of 33,088 performance-based RSUs that will vest in three increments based on the achievement of goals related to revenue growth and Adjusted EBITDA margin for each of the 2019, 2020 and 2021 fiscal years, generally conditioned on Mr. Courtot’s continued status as a service provider through the date that performance is certified for the relevant increment. If Mr. Courtot’s employment (a) is terminated by reason of death or disability or (b) is terminated by the Company for reasons other than cause or good reason within 12 months following a change in control, then 100% of any unvested portions of the award will vest, with any vesting in connection with change in control terminations conditioned upon the effectiveness of a release of claims in favor of the Company (2018 performance-based RSUs).

During the nine months ended September 30, 2020, 14,864 shares, which represent 135% of the target number of 11,030 shares under the 2018 performance-based RSUs, vested as a result of the Company achieving the performance goals for fiscal 2019.

On June 10, 2020, the board of directors approved changes in the performance targets for the 2019 and 2018 performance-based awards. Based on the projected performance levels expected to be achieved for those awards as of June 10, 2020, the modification resulted in an incremental expense of $7.5 million, which is expected to be recognized over 12 quarters beginning with the quarter ended June 30, 2020. This amount may change based upon actual performance achieved and updates to estimates of future performance during the remainder of the performance periods. During the three and nine months ended September 30, 2020, $0.9 million and $1.1 million, respectively, of incremental expenses due to the modification were recognized.

During the three months ended September 30, 2020 and 2019, stock-based compensation costs of $2.0 million, including changes due to modifications, and $0.2 million, respectively, were recognized for the performance-based NSOs and RSUs. During the nine months ended September 30, 2020 and 2019, stock-based compensation costs of $2.8 million, including changes due to modifications, and $0.7 million, respectively, were recognized for the performance-based NSOs and RSUs.

Share Repurchase Program

On February 5, 2018, the Company's board of directors authorized a $100.0 million two-year share repurchase program, which was announced on February 12, 2018. On October 30, 2018, October 30, 2019 and May 7, 2020, the Company announced that its board of directors had authorized an increase of $100.0 million, $100.0 million and $100.0 million, respectively, to the original share repurchase program authorization, resulting in an aggregate authorization of $400.0 million. Shares may be repurchased from time to time on the open market in accordance with Rule 10b-18 of the Exchange Act of 1934, including pursuant to a pre-set trading plan adopted in accordance with Rule 10b5-1 under the Exchange Act ("Rule 10b5-1"), until April 28, 2022.

Repurchased shares are retired and reclassified as authorized and unissued shares of common stock. On retirement of the repurchased shares, common stock is reduced by an amount equal to the number of shares being retired multiplied by the par value. The excess amount that is retired over its par value is first allocated as a reduction to additional paid-in capital based on the initial public offering price of the stock, with the remaining excess to retained earnings.

During the nine months ended September 30, 2020, the Company repurchased 940,750 shares of its common stock for approximately $91.9 million. All share repurchases were made using cash resources. As of September 30, 2020, approximately $136.7 million remained available for share repurchases pursuant to the Company's share repurchase program.

Note 11 - Net Income Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Text Block]

NOTE 11.

Net income Per Share

The computations for basic and diluted net income per share are as follows:

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands, except per share data)
Numerator:
Net income	$	22,743	$	19,174	$	67,756	$	48,672
Denominator:
Weighted-average shares used in computing net income per share:
Basic		39,238		39,014		39,171		39,099
Effect of potentially dilutive securities:
Common stock options		1,229		1,783		1,351		1,882
Restricted stock units		297		365		385		466
Diluted		40,764		41,162		40,907		41,447
Net income per share:
Basic	$	0.58	$	0.49	$	1.73	$	1.24
Diluted	$	0.56	$	0.47	$	1.66	$	1.17

Potentially dilutive securities not included in the calculation of diluted net income per share because doing so would be anti-dilutive are as follows:

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
Common stock options		476		462		634		408
Restricted stock units		60		51		43		53
		536		513		677		461

Note 12 - Income Taxes

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Text Block]

NOTE 12.

Income Taxes

The Company's provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period.

The Company's quarterly tax provision, and estimate of its annual effective tax rate, is subject to variation due to several factors, including variability in pre-tax income (or loss), the mix of jurisdictions to which such income relates, changes in how the Company does business, and tax law developments. The Company's estimated effective tax rate for the year differs from the U.S. statutory rate of 21% primarily due to non-deductible stock-based compensation expense, state taxes, and the benefit of U.S. federal income tax credits and foreign-derived intangible income deduction.

The Company recorded an income tax provision of $4.9 million and $5.2 million for the three months ended September 30, 2020 and 2019, respectively, resulting in an effective tax rate of 17.7% and 21.2%, respectively. The tax provision for the three months ended September 30, 2020 as compared to the tax provision for the three months ended September 30, 2019 changed primarily due to higher excess tax benefits from stock-based compensation, offset by an increase in pre-tax income.

The Company recorded an income tax provision of $9.2 million and $10.0 million for the nine months ended September 30, 2020 and 2019, respectively, resulting in an effective tax rate of 11.9% and 17.1%, respectively. The tax provision for the nine months ended September 30, 2020 as compared to the tax provision for the nine months ended September 30, 2019 changed primarily due to higher excess tax benefits from stock-based compensation, offset by an increase in pre-tax income.

As of September 30, 2020, the Company had unrecognized tax benefits of $8.7 million, of which $4.4 million, if recognized, would favorably impact the Company's effective tax rate. As of December 31, 2019, the Company had unrecognized tax benefits of $7.8 million, of which $4.2 million, if recognized, would favorably impact the Company's effective tax rate. The Company does not anticipate a material change in its unrecognized tax benefits in the next 12 months.

On June 29, 2020, the California governor signed into law the 2020 Budget Act, which temporarily suspends the utilization of net operating losses and limits the utilization of the research credit to $5 million annually for 2020, 2021 and 2022. The Company is continuing to assess the 2020 Budget Act, but currently does not expect any material impact to the condensed consolidated financial statements.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Note 13 - Segment Information and Information about Geographic Area

9 Months Ended

Sep. 30, 2020

Segment Reporting Disclosure [Text Block]

NOTE 13.

Segment Information and Information about Geographic Area

The Company operates in one segment. The Company determines its reportable operating segments in accordance with the provisions in the FASB guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial information related to reportable operating segments and geographic regions. The Company’s chief operating decision maker is the Chairman and Chief Executive Officer, who makes operating decisions, assesses performance and allocates resources on a consolidated basis. The Company’s principal operating and decision-making functions are located in the United States.

Revenue by geographic area, based on the customer's billing address, is as follows:

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
United States	$	59,152	$	53,132	$	171,130	$	152,457
Foreign		33,917		29,539		97,032		84,486
Total	$	93,069	$	82,671	$	268,162	$	236,943

Property and equipment, net, by geographic area, is as follows:

	*September 30,*		*December 31,*
	*2020*		*2019*
	(in thousands)
United States	$	47,014	$	46,100
India		12,907		9,221
Foreign		7,653		5,258
Total property and equipment, net	$	67,574	$	60,579

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Description Of Business Policy [Policy Text Block]	*Description of Business* Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. The Company is headquartered in Foster City, California and has wholly-owned subsidiaries throughout the world. The Company is a pioneer and leading provider of cloud-based information technology ("IT"), security and compliance solutions that enable organizations to identify security risks to their IT infrastructures, help protect their IT systems and applications from ever-evolving cyber-attacks and achieve compliance with internal policies and external regulations. The Company’s cloud solutions address the growing security and compliance complexities and risks that are amplified by the dissolving boundaries between internal and external IT infrastructures and web environments, the rapid adoption of cloud computing and the proliferation of geographically dispersed IT assets. Organizations can use the Company’s integrated suite of solutions delivered on its Qualys Cloud Platform to cost-effectively obtain a unified view of their security and compliance posture across globally distributed IT infrastructures.
Basis of Accounting, Policy [Policy Text Block]	*Basis of Presentation* The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information as well as the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of December 31, 2019, included herein, was derived from the audited financial statements as of that date but does not include all disclosures, including notes required by U.S. GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results of operations expected for the entire year ending December 31, 2020 or for any other future annual or interim periods. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 21, 2020.
Risk and Uncertainties, Policy [Policy Text Block]	*Risks and Uncertainties* In March 2020, the World Health Organization declared the outbreak of a novel strain of coronavirus (“COVID-19”) as a pandemic. As a result of COVID-19, the Company has modified certain aspects of its business, including restricting employee travel, requiring employees to work from home, and canceling certain events and meetings, among other modifications. The Company will continue to actively monitor the situation and may take further actions that alter its business operations as may be required by federal, state or local authorities or that the Company determines are in the best interests of its employees, customers, partners, suppliers and stockholders. While the Company has not incurred significant disruptions from the COVID-19 outbreak, the Company is unable to accurately predict the full impact that COVID-19 will have due to numerous uncertainties, including the duration of the outbreak, actions that may be taken by governmental authorities and the impact to the business of its customers and partners. The Company will continue to evaluate the nature and extent of the impact to its business, financial position, results of operations and cash flows.
Use of Estimates, Policy [Policy Text Block]	*Use of Estimates* The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, the valuation of accounts receivable, goodwill and intangible assets, capitalization of internally developed software, stock-based compensation and the provision for income taxes. Actual results could differ from those estimates and such differences may be material to the accompanying unaudited condensed consolidated financial statements.
Derivatives, Policy [Policy Text Block]	*Derivative Financial Instruments* Derivative financial instruments are utilized by the Company to reduce foreign currency exchange risks. The Company uses foreign currency forward contracts to mitigate the impact of foreign currency fluctuations of certain non-U.S. dollar denominated net asset positions, to date primarily cash, accounts receivable and operating lease liabilities, as well as to manage foreign currency fluctuation risk related to forecasted transactions. Open contracts are recorded within prepaid expenses and other current assets, other noncurrent assets, accrued liabilities or other noncurrent liabilities in the condensed consolidated balance sheets. Gains and losses resulting from currency exchange rate movements on non-designated forward contracts are recognized in other income (expense), net. Any gains or losses from derivatives designated as cash flow hedges are first recorded within accumulated other comprehensive income ("AOCI") and then reclassified into revenue or operating expenses when the hedged item impacts the condensed consolidated statements of operations.
Share-based Payment Arrangement [Policy Text Block]	*Stock-Based Compensation* The Company recognizes the fair value of its employee stock options and restricted stock units over the requisite service periods for those awards ultimately expected to vest. The fair value of each option is estimated on the date of grant using the Black-Scholes-Merton option pricing model and the fair value of each restricted stock unit ("RSU") is based on the price of the Company's stock on the date of grant. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. The Company has issued performance-based awards and stock options, and accounts for these awards and options as stock-based compensation with multiple performance conditions. For these performance-based awards, the Company records compensation expense for only the performance milestones that are probable of being achieved, with such expense recorded on a straight-line basis over the expected vesting period. The Company reassesses performance-based estimates each reporting period and if there are any changes in the probability of achievement, the Company recognizes the cumulative effect in the period when the estimate changes.
Securities Owned Not Readily Marketable, Policy [Policy Text Block]	*Non-Marketable Securities* During the fiscal year ended December 31, 2018, the Company invested $2.5 million in preferred stock of a privately-held company. The fair value of the investment is not readily available, and there are no quoted market prices for the investment. The investment is included in other noncurrent assets on the condensed consolidated balance sheets and measured at cost less impairment, adjusted for observable price changes. The investment is assessed for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. During the second quarter ended June 30, 2019, the Company made an advance payment of $0.6 million to the investee for certain development work, which is recorded in other noncurrent assets on the condensed consolidated balance sheet. During the third quarter ended September 30, 2019, the Company made an additional investment of $0.6 million in a convertible security issued by this investee and recorded it in other current assets on the condensed consolidated balance sheet. As of September 30, 2020 and December 31, 2019, no impairment was recorded for the investments.
New Accounting Pronouncements, Policy [Policy Text Block]	*Recently Adopted Accounting Pronouncements* In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs related to internal-use software. It also requires the Company to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. The Company adopted this ASU prospectively to applicable implementation costs incurred since January 1, 2020. The adoption did not have a material impact on the Company's condensed consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) as modified by subsequently issued ASU No. 2018-19, 2019-04 and 2019-05, which introduces a new accounting model, Current Expected Credit Losses ("CECL"). CECL requires earlier recognition of credit losses, while also providing additional transparency about credit risk. CECL utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The Company adopted this ASU on January 1, 2020, using a modified retrospective transition method, which requires a cumulative-effect adjustment, if any, to the opening balance of retained earnings to be recognized on the date of adoption with prior periods not restated. The adoption did not have a material impact on the Company's condensed consolidated financial statements. **Recently Issued Accounting Pronouncements Not* Yet Adopted*** In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) ("ASU 2020-01"). This ASU clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. It is effective for the Company beginning in the first quarter of fiscal 2021, and earlier adoption is permitted. The Company is currently evaluating the impact of its pending adoption of ASU 2020-01 on the Company's condensed consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes ("ASU 2019-12"), which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for the Company for fiscal years beginning after December 15, 2020. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company is currently evaluating the impacts of the provisions of ASU 2019-12 on its condensed consolidated financial statements.

Note 2 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Cash and Cash Equivalents and Debt Securities, Available-for-sale, Amortized Cost to Fair Value [Table Text Block]

	*September 30, 2020*
			*Unrealized*		*Unrealized*
	*Amortized Cost*		*Gains*		*(Losses)*			*Fair Value*
	(in thousands)
Cash and cash equivalents:
Cash	$	33,566	$	—	$	—		$	33,566
Money market funds		58,511		—		—			58,511
Commercial paper		950		—		—			950
Total		93,027		—		—			93,027
Short-term marketable securities:
Commercial paper		649		—		—			649
Corporate bonds		30,508		249		(1	)		30,756
Asset-backed securities		5,514		25		—			5,539
U.S. government agencies		188,525		266		(1	)		188,790
Total		225,196		540		(2	)		225,734
Long-term marketable securities:
Asset-backed securities		40,367		290		—			40,657
U.S. government agencies		37,414		373		(2	)		37,785
Foreign government agencies		1,001		33		—			1,034
Corporate bonds		52,870		920		(6	)		53,784
Total		131,652		1,616		(8	)		133,260
Total	$	449,875	$	2,156	$	(10	)	$	452,021

	December 31, 2019
			Unrealized		Unrealized
	Amortized Cost		Gains		(Losses)			Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	84,102	$	—	$	—		$	84,102
Money market funds		58		—		—			58
Commercial paper		3,399		—		—			3,399
Total		87,559		—		—			87,559
Short-term marketable securities:
Commercial paper		2,239		—		—			2,239
Corporate bonds		33,048		51		(1	)		33,098
Asset-backed securities		2,438		11		—			2,449
U.S. government agencies		173,364		184		(3	)		173,545
Total		211,089		246		(4	)		211,331
Long-term marketable securities:
Asset-backed securities		40,001		193		(1	)		40,193
U.S. government agencies		46,447		370		—			46,817
Corporate bonds		32,236		262		—			32,498
Total		118,684		825		(1	)		119,508
Total	$	417,332	$	1,071	$	(5	)	$	418,398

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	*September 30, 2020*
	*Level 1*		*Level 2*		*Fair Value*
	(in thousands)
Money market funds	$	58,511	$	—	$	58,511
Commercial paper		—		1,599		1,599
U.S. government agencies		—		226,575		226,575
Foreign government agencies		—		1,034		1,034
Corporate bonds		—		84,540		84,540
Asset-backed securities		—		46,196		46,196
Total	$	58,511	$	359,944	$	418,455

	December 31, 2019
	Level 1		Level 2		Fair Value
	(in thousands)
Money market funds	$	58	$	—	$	58
Commercial paper		—		5,638		5,638
U.S. government agencies		—		220,362		220,362
Corporate bonds		—		65,596		65,596
Asset-backed securities		—		42,642		42,642
Total	$	58	$	334,238	$	334,296

Investments Classified by Contractual Maturity Date [Table Text Block]

	*September 30, 2020*
	*Mature within*		*Mature after One Year*		*Mature over*
	*One Year*		*through Two Years*		*Two Years*		*Fair Value*
	(in thousands)
Commercial paper	$	1,599	$	—	$	—	$	1,599
U.S. government agencies		188,790		37,600		185		226,575
Foreign government agencies		—		—		1,034		1,034
Corporate bonds		30,756		33,505		20,279		84,540
Asset-backed securities		5,539		17,788		22,869		46,196
Total	$	226,684	$	88,893	$	44,367	$	359,944

	December 31, 2019
	Mature within		Mature after One Year		Mature over
	One Year		through Two Years		Two Years		Fair Value
	(in thousands)
Commercial paper	$	5,638	$	—	$	—	$	5,638
U.S. government agencies		173,546		46,816		—		220,362
Corporate bonds		33,098		23,251		9,247		65,596
Asset-backed securities		2,449		15,550		24,643		42,642
Total	$	214,731	$	85,617	$	33,890	$	334,238

Derivative Instruments, Gain (Loss) [Table Text Block]

	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
Derivative instruments designated as cash flow hedges:	*2020*			*2019*			*2020*			*2019*
	(in thousands)
Net unrealized gains (losses) recognized in AOCI:
Foreign currency forward contracts (GBP, Euro and INR)	$	(931	)	$	1,385		$	(662	)	$	1,827

Net unrealized (gains) losses reclassified from AOCI into income:
Foreign currency forward contracts (GBP and Euro)		(297	)		(79	)		(873	)		(10	)
Foreign currency forward contracts (INR)		127			—			342			—
Net change in AOCI before tax	$	(1,101	)	$	1,306		$	(1,193	)	$	1,817

	*Three Months Ended*						*Nine Months Ended*
	*September 30,*						*September 30,*
	*2020*			*2019*			*2020*			*2019*
	(in thousands)
Net gains (losses) from non-designated forward contracts	$	(688	)	$	642		$	(108	)	$	708
Other foreign currency transactions gains (losses)		961			(906	)		565			(839	)
Total foreign exchange gains (losses), net		273			(264	)		457			(131	)
Other expenses		(64	)		(64	)		(189	)		(189	)
Other income (loss), net	$	209		$	(328	)	$	268		$	(320	)

Schedule of Derivative Instruments [Table Text Block]

	*September 30,*			*December 31,*
	*2020*			*2019*
Assets	*(in thousands)*
Foreign currency forward contracts designated as cash flow hedge	$	396		$	427
Foreign currency forward contracts not designated as hedging instruments		292			515
Total	$	688		$	942
Liabilities
Foreign currency forward contracts designated as cash flow hedge	$	(1,227	)	$	(524	)
Foreign currency forward contracts not designated as hedging instruments		(665	)		(550	)
Total	$	(1,892	)	$	(1,074	)

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Note 3 - Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	*Unrealized*		*Unrealized*
	*gains*		*gains (losses)*
	*on AFS debt*		*on cash flow*
	*securities*		*hedges*			*Total*
	(in thousands)
Balances as of December 31, 2019	$	822	$	340		$	1,162
Other comprehensive income (loss) before reclassification		825		(510	)		315
Reclassification of (gains) losses from other comprehensive income		8		(410	)		(402	)
Total change in unrealized gains (losses), net of tax		833		(920	)		(87	)
Balances as of September 30, 2020	$	1,655	$	(580	)	$	1,075

	*Unrealized*			*Unrealized*
	*gains (losses)*			*gains (losses)*
	*on AFS debt*			*on cash flow*
	*securities*			*hedges*			*Total*
	(in thousands)
Balances as of December 31, 2018	$	(545	)	$	(41	)	$	(586	)
Other comprehensive income before reclassification		1,419			1,423			2,842
Reclassification of (gains) losses from other comprehensive income		25			(10	)		15
Total change in unrealized gains, net of tax		1,444			1,413			2,857
Balances as of September 30, 2019	$	899		$	1,372		$	2,271

Note 4 - Property and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Table Text Block]

	*September 30,*			*December 31,*
	*2020*			*2019*
	(in thousands)
Computer equipment	$	133,628		$	112,599
Computer software		26,298			26,137
Furniture, fixtures and equipment		8,335			6,973
Finance leases - right of use asset		3,503			3,503
Scanner appliances		16,388			15,864
Leasehold improvements		21,043			18,817
Total property and equipment		209,195			183,893
Less: accumulated depreciation and amortization		(141,621	)		(123,314	)
Property and equipment, net	$	67,574		$	60,579

Note 5 - Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2020

Contract With Customer, Commission Asset Balances [Table Text Block]

	*September 30, 2020*		*December 31, 2019*
	(in thousands)
Commission asset, current	$	3,213	$	2,568
Commission asset, noncurrent	$	6,783	$	6,454

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

	*Total Expected Revenue*
	(in thousands)
2020 (remaining three months)	$	28,515
2021		82,348
2022		50,129
2023		18,779
2024		949
2025 and thereafter		406
Total	$	181,126

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
Direct	$	54,821	$	47,997	$	156,631	$	136,708
Partner		38,248		34,674		111,531		100,235
Total	$	93,069	$	82,671	$	268,162	$	236,943

Note 7 - Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

			*September 30, 2020*
		*Weighted*
	*Weighted*	*Average*
	*Average Life*	*Remaining*			*Accumulated*			*Net Book*
(in thousands, except for years)	*(Years)*	*Life (Years)*	*Cost*		*Amortization*			*Value*
Developed technology	4.6	2.1	$	27,356	$	(14,593	)	$	12,763
Patent licenses	14.0	3.9		1,387		(997	)	$	390
Non-compete agreements	2.0	1.8		500		(42	)	$	458
Total intangibles subject to amortization			$	29,243	$	(15,632	)		13,611
Intangible assets not subject to amortization									40
Total intangible assets, net								$	13,651

			December 31, 2019
		*Weighted*
	*Weighted*	*Average*
	*Average Life*	*Remaining*			*Accumulated*			*Net Book*
(in thousands, except for years)	*(Years)*	*Life (Years)*	*Cost*		*Amortization*			*Value*
Developed technology	4.6	2.7	$	26,356	$	(10,066	)	$	16,290
Patent licenses	14.0	4.7		1,387		(922	)		465
Total intangibles subject to amortization			$	27,743	$	(10,988	)		16,755
Intangible assets not subject to amortization									40
Total intangible assets, net								$	16,795

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	Amortization Expense
	(in thousands)
2020 (remaining three months)	$	1,645
2021		6,581
2022		4,823
2023		350
2024		212
Total expected future amortization expense	$	13,611

Note 8 - Leases (Tables)

9 Months Ended

Sep. 30, 2020

Assets and Liabilities, Lease [Table Text Block]

		*September 30,*		*December 31,*
(in thousands)	*Classification on the Balance Sheet*	*2020*		*2019*
Assets
Operating lease assets	Operating lease - right of use asset	$	47,985	$	40,551
Finance lease assets	Property and equipment, net		423		1,299
Total lease assets		$	48,408	$	41,850

Liabilities
Current
Operating	Operating lease liabilities, current	$	11,777	$	7,663
Finance	Accrued liabilities		86		124
Noncurrent
Operating	Operating lease liabilities, noncurrent		48,392		44,015
Finance	Other noncurrent liabilities		—		54
Total lease liabilities		$	60,255	$	51,856

Lease, Cost [Table Text Block]

	*Nine Months Ended*
	*September 30,*
	*2020*		*2019*
	(in thousands)
Cash payments included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,183	$	6,469
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	15,735	$	1,553

	*September 30, 2020*			*September 30, 2019*
Weighted average remaining lease term (years)
Operating leases		5.4			7.1
Finance leases		0.3			0.8
Weighted average discount rates
Operating leases		4.8	%		4.6	%
Finance leases		5.0	%		5.0	%

Note 10 - Stockholders' Equity and Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
Cost of revenues	$	770	$	577	$	1,967	$	1,674
Research and development		3,197		2,831		9,887		7,875
Sales and marketing		1,227		1,459		4,300		3,590
General and administrative		5,295		3,516		13,776		12,024
Total stock-based compensation	$	10,489	$	8,383	$	29,930	$	25,163

Share-based Payment Arrangement, Option, Activity [Table Text Block]

						*Weighted*
						*Average*
				*Weighted*		*Remaining*
	*Outstanding*			*Average*		*Contractual*	*Aggregate*
	*Options*			*Exercise Price*		*Life (Years)*	*Intrinsic Value*
							(in thousands)
Balance as of December 31, 2019		2,866,675		$	40.54	6.0	$	125,647
Granted		269,950		$	107.01
Exercised		(695,468	)	$	34.46
Canceled		(84,486	)	$	86.08
Balance as of September 30, 2020		2,356,671		$	48.32	6.0	$	120,055
Vested and expected to vest - September 30, 2020		2,208,860		$	45.07	5.8	$	118,883
Exercisable - September 30, 2020		1,666,292		$	30.49	4.8	$	112,502

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

				*Weighted*
				*Average Grant*
	*Outstanding*			*Date Fair Value*
	*RSUs*			*Per Share*

Balance as of December 31, 2019		1,214,818		$	67.99
Granted		214,380		$	106.72
Vested		(382,011	)	$	61.84
Canceled		(194,576	)	$	75.60
Balance as of September 30, 2020		852,611		$	81.33
Outstanding and expected to vest - September 30, 2020		640,166		$	79.28

Note 11 - Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands, except per share data)
Numerator:
Net income	$	22,743	$	19,174	$	67,756	$	48,672
Denominator:
Weighted-average shares used in computing net income per share:
Basic		39,238		39,014		39,171		39,099
Effect of potentially dilutive securities:
Common stock options		1,229		1,783		1,351		1,882
Restricted stock units		297		365		385		466
Diluted		40,764		41,162		40,907		41,447
Net income per share:
Basic	$	0.58	$	0.49	$	1.73	$	1.24
Diluted	$	0.56	$	0.47	$	1.66	$	1.17

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
Common stock options		476		462		634		408
Restricted stock units		60		51		43		53
		536		513		677		461

Note 13 - Segment Information and Information about Geographic Area (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
	(in thousands)
United States	$	59,152	$	53,132	$	171,130	$	152,457
Foreign		33,917		29,539		97,032		84,486
Total	$	93,069	$	82,671	$	268,162	$	236,943

	*September 30,*		*December 31,*
	*2020*		*2019*
	(in thousands)
United States	$	47,014	$	46,100
India		12,907		9,221
Foreign		7,653		5,258
Total property and equipment, net	$	67,574	$	60,579

Note 1 - The Company and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Payments for Advance to Affiliate	$ 600
Other than Temporary Impairment Losses, Investments, Total		$ 0	$ 0
Preferred Stock [Member]
Investments, Total					$ 2,500
Convertible Debt Securities [Member]
Investments, Total			$ 600	$ 600

Note 2 - Fair Value of Financial Instruments (Details Textual) € in Millions, ₨ in Millions, £ in Millions, $ in Millions	Sep. 30, 2020 USD ($)	Sep. 30, 2020 EUR (€)	Sep. 30, 2020 GBP (£)	Sep. 30, 2020 INR (₨)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 GBP (£)	Dec. 31, 2019 INR (₨)	Sep. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)
Marketable Securities In Unrealized Loss Positions, More Than 12 Months Qualitative Disclosure, Number Of Positions	0	0	0	0
Designated as Hedging Instrument [Member] \| Reclassification from AOCI to Revenue [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 0.5
Designated as Hedging Instrument [Member] \| Reclassification from AOCI to Operating Expenses [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 0.1
Foreign Exchange Contract [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative, Number of Instruments Held, Total	39	39	39	39	26	26	26	26
Derivative, Notional Amount		€ 22.5	£ 8.8	₨ 1,745.0		€ 24.2	£ 9.7
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative, Number of Instruments Held, Total	18	18	18	18	15	15	15	15
Derivative, Notional Amount		€ 13.9	£ 8.0	₨ 173.6		€ 20.0	£ 5.6	₨ 756.0
Convertible Debt Securities [Member]
Investments, Total					$ 0.6				$ 0.6
Preferred Stock [Member]
Investments, Total										$ 2.5

Note 2 - Fair Value of Financial Instruments - Cash and and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Cash and Cash Equivalents, Fair Value Disclosure	$ 93,027	$ 87,559
Short-term marketable securities, amortization cost	225,196	211,089
Unrealized gains, short-term securities	540	246
Short-term marketable securities, unrealized loss	(2)	(4)
Short-term marketable securities	225,734	211,331
Long-term marketable securities, amortization cost	131,652	118,684
Unrealized gains, long-term securities	1,616	825
Long-term marketable securities, unrealized loss	(8)	(1)
Long-term marketable securities	133,260	119,508
Cash and cash equivalents and marketable securities, amortization cost	449,875	417,332
Unrealized gains, securities	2,156	1,071
Unrealized loss, securities	(10)	(5)
Cash and cash equivalents and short-term and long-term Marketable Securities, fair value	452,021	418,398
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Short-term marketable securities, amortization cost	649	2,239
Unrealized gains, short-term securities	0	0
Short-term marketable securities, unrealized loss	0	0
Short-term marketable securities	649	2,239
Corporate Debt Securities [Member]
Short-term marketable securities, amortization cost	30,508	33,048
Unrealized gains, short-term securities	249	51
Short-term marketable securities, unrealized loss	(1)	(1)
Short-term marketable securities	30,756	33,098
Long-term marketable securities, amortization cost	52,870	32,236
Unrealized gains, long-term securities	920	262
Long-term marketable securities, unrealized loss	(6)	0
Long-term marketable securities	53,784	32,498
Asset-backed Securities [Member]
Short-term marketable securities, amortization cost	5,514	2,438
Unrealized gains, short-term securities	25	11
Short-term marketable securities, unrealized loss	0	0
Short-term marketable securities	5,539	2,449
Long-term marketable securities, amortization cost	40,367	40,001
Unrealized gains, long-term securities	290	193
Long-term marketable securities, unrealized loss	0	(1)
Long-term marketable securities	40,657	40,193
US Government Agencies Debt Securities [Member]
Short-term marketable securities, amortization cost	188,525	173,364
Unrealized gains, short-term securities	266	184
Short-term marketable securities, unrealized loss	(1)	(3)
Short-term marketable securities	188,790	173,545
Long-term marketable securities, amortization cost	37,414	46,447
Unrealized gains, long-term securities	373	370
Long-term marketable securities, unrealized loss	(2)	0
Long-term marketable securities	37,785	46,817
Foreign Exchange Contract [Member]
Long-term marketable securities, amortization cost	1,001
Unrealized gains, long-term securities	33
Long-term marketable securities, unrealized loss	0
Long-term marketable securities	1,034
Amortized Cost [Member]
Cash and Cash Equivalents, Fair Value Disclosure	93,027	87,559
Cash [Member]
Cash and Cash Equivalents, Fair Value Disclosure	33,566	84,102
Cash [Member] \| Amortized Cost [Member]
Cash and Cash Equivalents, Fair Value Disclosure	33,566	84,102
Money Market Funds [Member]
Cash and Cash Equivalents, Fair Value Disclosure	58,511	58
Money Market Funds [Member] \| Amortized Cost [Member]
Cash and Cash Equivalents, Fair Value Disclosure	58,511	58
Commercial Paper [Member]
Cash and Cash Equivalents, Fair Value Disclosure	950	3,399
Commercial Paper [Member] \| Amortized Cost [Member]
Cash and Cash Equivalents, Fair Value Disclosure	$ 950	$ 3,399

Note 2 - Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Money market funds	$ 58,511	$ 58
Commercial paper	1,599	5,638
U.S. government agencies	226,575	220,362
Foreign government agencies	1,034
Corporate bonds	84,540	65,596
Asset-backed securities	46,196	42,642
Total	418,455	334,296
Fair Value, Inputs, Level 1 [Member]
Money market funds	58,511	58
Commercial paper	0	0
U.S. government agencies	0	0
Foreign government agencies	0
Corporate bonds	0	0
Asset-backed securities	0	0
Total	58,511	58
Fair Value, Inputs, Level 2 [Member]
Money market funds	0	0
Commercial paper	1,599	5,638
U.S. government agencies	226,575	220,362
Foreign government agencies	1,034
Corporate bonds	84,540	65,596
Asset-backed securities	46,196	42,642
Total	$ 359,944	$ 334,238

Note 2 - Fair Value of Financial Instruments - Summary of the Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value	$ 226,684	$ 214,731
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value	88,893	85,617
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value	44,367	33,890
Debt Securities, Available-for-sale	359,944	334,238
Commercial Paper [Member]
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value	1,599	5,638
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value	0	0
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value	0	0
Debt Securities, Available-for-sale	1,599	5,638
US Government Agencies Debt Securities [Member]
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value	188,790	173,546
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value	37,600	46,816
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value	185	0
Debt Securities, Available-for-sale	226,575	220,362
Corporate Bond Securities [Member]
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value	30,756	33,098
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value	33,505	23,251
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value	20,279	9,247
Debt Securities, Available-for-sale	84,540	65,596
Asset-backed Securities [Member]
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value	5,539	2,449
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value	17,788	15,550
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value	22,869	24,643
Debt Securities, Available-for-sale	46,196	$ 42,642
Sovereign Debt Securities [Member]
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value	0
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value	0
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value	1,034
Debt Securities, Available-for-sale	$ 1,034

Note 2 - Fair Value of Financial Instruments - Amounts Recognized In Statement Of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Foreign currency forward contracts (GBP, Euro and INR)	$ (1,101)	$ 1,306	$ (1,193)	$ 1,817
Net gains (losses) from non-designated forward contracts	(688)	642	(108)	708
Other foreign currency transactions gains (losses)	961	(906)	565	(839)
Total foreign exchange gains (losses), net	273	(264)	457	(131)
Other expenses	(64)	(64)	(189)	(189)
Other income (expense), net	209	(328)	268	(320)
Foreign Exchange Contract [Member]
Foreign currency forward contracts (GBP, Euro and INR)	(931)	1,385	(662)	1,827
Foreign Currency Contract Euro And GBP [Member]
Foreign currency forward contracts (GBP and Euro)	(297)	(79)	(873)	(10)
Foreign Currency Contracts INR [Member]
Foreign currency forward contracts (GBP and Euro)	$ 127	$ 0	$ 342	$ 0

Note 2 - Fair Value of Financial Instruments - Summary of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Foreign currency forward contracts	$ 688	$ 942
Foreign currency forward contracts	(1,892)	(1,074)
Designated as Hedging Instrument [Member]
Foreign currency forward contracts	396	427
Foreign currency forward contracts	(1,227)	(524)
Not Designated as Hedging Instrument [Member]
Foreign currency forward contracts	292	515
Foreign currency forward contracts	$ (665)	$ (550)

Note 3 - Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Balance	$ 407,774	$ 386,730	$ 386,803	$ 383,598	$ 373,403	$ 357,989	$ 386,803	$ 357,989
Other comprehensive income, net of tax	(1,360)	882	391	1,031	930	896	(87)	2,857
Balance	400,299	407,774	386,730	361,023	383,598	373,403	400,299	361,023
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance			822			(545)	822	(545)
Other comprehensive income (loss) before reclassification							825	1,419
Reclassification of (gains) losses from other comprehensive income							8	25
Other comprehensive income, net of tax							833	1,444
Balance	1,655			899			1,655	899
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance			340			(41)	340	(41)
Other comprehensive income (loss) before reclassification							(510)	1,423
Reclassification of (gains) losses from other comprehensive income							(410)	(10)
Other comprehensive income, net of tax							(920)	1,413
Balance	(580)			1,372			(580)	1,372
AOCI Attributable to Parent [Member]
Balance	2,435	1,553	1,162	1,240	310	(586)	1,162	(586)
Other comprehensive income (loss) before reclassification							315	2,842
Reclassification of (gains) losses from other comprehensive income							(402)	15
Other comprehensive income, net of tax	(1,360)	882	391	1,031	930	896	(87)	2,857
Balance	$ 1,075	$ 2,435	$ 1,553	$ 2,271	$ 1,240	$ 310	$ 1,075	$ 2,271

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment, Net, Ending Balance	$ 67,574		$ 67,574		$ 60,579
Depreciation, Depletion And Amortization, Excluding Intangible Asset Amortization	6,700	$ 6,200	19,300	$ 18,900
Scanner Appliances and Other Computer Equipment Subject To Subscription [Member]
Property, Plant and Equipment, Net, Ending Balance	7,400		7,400		4,900
Scanner Appliances and Other Computer Equipment Not Placed In Service [Member]
Property, Plant and Equipment, Net, Ending Balance	$ 3,700		$ 3,700		$ 900

Note 4 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property and equipment and finance lease	$ 209,195	$ 183,893
Less: accumulated depreciation and amortization	(141,621)	(123,314)
Property and equipment and finance lease, net	67,574	60,579
Computer Equipment [Member]
Property and equipment and finance lease	133,628	112,599
Computer Software, Intangible Asset [Member]
Property and equipment and finance lease	26,298	26,137
Furniture and Fixtures [Member]
Property and equipment and finance lease	8,335	6,973
Assets Held under Capital Leases [Member]
Property and equipment and finance lease	3,503	3,503
Scanner Appliances [Member]
Property and equipment and finance lease	16,388	15,864
Leasehold Improvements [Member]
Property and equipment and finance lease	$ 21,043	$ 18,817

Note 5 - Revenue from Contracts with Customers 1 (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Amortization of Deferred Sales Commissions	$ 800	$ 500	$ 2,200	$ 1,400
Capitalized Contract Cost, Impairment Loss			0	0
Contract with Customer, Liability, Revenue Recognized	$ 38,300	$ 31,300	$ 168,000	$ 144,600

Note 5 - Revenue from Contracts with Customers 2 (Details Textual)	Sep. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 5 - Revenue from Contracts with Customers - Capitalized Cost to Obtain Contracts, Current and Noncurrent (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Commission asset, current	$ 3,213	$ 2,568
Commission asset, noncurrent	$ 6,783	$ 6,454

Note 5 - Revenue from Contracts with Customers - Expected Revenue from All Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Revenue remaining performance obligation	$ 181,126

Note 5 - Revenue from Contracts with Customers - Expected Revenue from All Remaining Performance Obligations 2 (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Revenue remaining performance obligation	$ 181,126
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue remaining performance obligation	28,515
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue remaining performance obligation	82,348
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue remaining performance obligation	50,129
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue remaining performance obligation	18,779
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue remaining performance obligation	949
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue remaining performance obligation	$ 406

Note 5 - Revenue from Contracts with Customers - Revenue by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues	$ 93,069	$ 82,671	$ 268,162	$ 236,943
Sales Channel, Directly to Consumer [Member]
Revenues	54,821	47,997	156,631	136,708
Sales Channel, Through Intermediary [Member]
Revenues	$ 38,248	$ 34,674	$ 111,531	$ 100,235

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Note 6 - Acquisitions (Details Textual) - USD ($) $ in Thousands			3 Months Ended
	Jul. 24, 2020	Jan. 10, 2019	Sep. 30, 2020	Dec. 31, 2019
Goodwill, Ending Balance			$ 7,447	$ 7,447
Adya [Member]
Business Combination, Consideration Transferred, Total		$ 1,000
Business Combination, Contingent Consideration, Liability, Total		200
Payment for Contingent Consideration Liability, Investing Activities			$ 200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total		900
Goodwill, Ending Balance		$ 100
Goodwill, Deductible for Tax Purpose Period (Year)		15 years
Adya [Member] \| Developed Technology Rights [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)		4 years
Spell Security [Member]
Business Combination, Consideration Transferred, Total	$ 1,500
Business Combination, Contingent Consideration, Liability, Total	$ 200
Spell Security [Member] \| Developed Technology Rights [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)	4 years
Finite-lived Intangible Assets Acquired	$ 1,000
Spell Security [Member] \| Noncompete Agreements [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)	2 years
Finite-lived Intangible Assets Acquired	$ 500

Note 7 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Amortization of Intangible Assets, Total	$ 1.6	$ 1.5	$ 4.6	$ 4.6

Note 7 - Intangible Assets, Net - Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Cost	$ 29,243	$ 27,743
Amortization of intangible assets	(15,632)	(10,988)
Net Book Value	13,611	16,755
Intangible assets, net	13,651	16,795
Intangible Assets Not Subject to Amortization [Member]
Intangible assets not subject to amortization	$ 40	$ 40
Developed Technology Rights [Member]
Weighted Average Life (Year)	4 years 7 months 6 days	4 years 7 months 6 days
Weighted Average Remaining Life (Year)	2 years 1 month 6 days	2 years 8 months 12 days
Cost	$ 27,356	$ 26,356
Amortization of intangible assets	(14,593)	(10,066)
Net Book Value	$ 12,763	$ 16,290
Patents [Member]
Weighted Average Life (Year)	14 years	14 years
Weighted Average Remaining Life (Year)	3 years 10 months 24 days	4 years 8 months 12 days
Cost	$ 1,387	$ 1,387
Amortization of intangible assets	(997)	(922)
Net Book Value	$ 390	$ 465
Noncompete Agreements [Member]
Weighted Average Life (Year)	2 years
Weighted Average Remaining Life (Year)	1 year 9 months 18 days
Cost	$ 500
Amortization of intangible assets	(42)
Net Book Value	$ 458

Note 7 - Intangible Assets, Net - Expected Amortization Expense in Future Periods (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
2020 (remaining three months)	$ 1,645
2021	6,581
2022	4,823
2023	350
2024	212
Total expected future amortization expense	$ 13,611	$ 16,755

Note 8 - Leases (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Note 8 - Leases (Details Textual) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating Lease, Expense	$ 4.6	$ 3.3	$ 13.5	$ 9.6

Note 8 - Leases - Lease-related Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating leases - right of use asset	$ 47,985	$ 40,551
Finance lease assets	423	1,299
Total lease assets	48,408	41,850
Operating	11,777	7,663
Finance	86	124
Operating	48,392	44,015
Finance	0	54
Total lease liabilities	$ 60,255	$ 51,856

Note 8 - Leases - Leases Cost (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating cash flows from operating leases	$ 9,183	$ 6,469
Operating leases	$ 15,735	$ 1,553
Operating leases, weighted average remaining lease term (Year)	5 years 4 months 24 days	7 years 1 month 6 days
Finance leases, weighted average remaining lease term (Year)	3 months 18 days	9 months 18 days
Operating leases, weighted average discount rates	4.80%	4.60%
Finance leases, weighted average discount rates	5.00%	5.00%

Note 10 - Stockholders' Equity and Stock-based Compensation (Details Textual) $ in Thousands						3 Months Ended		9 Months Ended		12 Months Ended
	May 07, 2020 USD ($)	Oct. 30, 2019 USD ($)	Dec. 21, 2018 shares	Oct. 30, 2018 USD ($)	Feb. 05, 2018 USD ($)	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 USD ($)	Jun. 10, 2021 USD ($)	Nov. 02, 2019 shares
Share-based Compensation Termination Period Trigger (Month)								12 months
Share-Based Compensation, Percentage Of Shares That Will Vest Upon Trigger								100.00%
Share-Based Compensation, Percentage Of Awards Based On Achievement Of Performance Goals			50.00%
Share-based Payment Arrangement, Plan Modification, Incremental Cost \| $						$ 900		$ 1,100
Share-based Payment Arrangement, Expense \| $						10,489	$ 8,383	29,930	$ 25,163
Stock Repurchase Program, Authorized Amount \| $					$ 100,000	400,000		$ 400,000
Stock Repurchase Program, Period in Force (Year)					2 years
Stock Repurchase Program, Additional Authorized Amount \| $	$ 100,000	$ 100,000		$ 100,000
Stock Repurchased and Retired During Period, Shares (in shares)								940,750
Stock Repurchased and Retired During Period, Value \| $								$ 91,900
Stock Repurchase Program, Remaining Authorized Repurchase Amount \| $						136,700		136,700
Forecast [Member]
Share-based Payment Arrangement, Plan Modification, Incremental Cost \| $										$ 7,500
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total \| $						16,600		$ 16,600
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)								2 years 2 months 12 days
Share-based Payment Arrangement, Option [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)											123,856
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total \| $						$ 54,100		$ 54,100
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)								2 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)								382,011
Restricted Stock Units (RSUs) [Member] \| Time based Shared Based Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)											48,683
Share based Compensation Arrangement by Share based Payment Award, Vesting Period, Number Of Quarterly Periods			16								16
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)			56,250
Restricted Stock Units (RSUs) [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)			33,089			33,088		33,088
Share-based Compensation Termination Period Trigger (Month)								12 months
Share-Based Compensation, Percentage Of Shares That Will Vest Upon Trigger								100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)								14,864
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period As A Percentage Of Target								135.00%
Share-Based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, Target Number Of Shares (in shares)								11,030
Non-Qualified Stock Options (NSOs) and Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expense \| $						$ 2,000	$ 200	$ 2,800	$ 700
A 2012 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)						15,700,000		15,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)						7,200,000		7,200,000
A 2000 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)						0		0

Note 10 - Stockholders' Equity and Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock-based compensation	$ 10,489	$ 8,383	$ 29,930	$ 25,163
Cost of Sales [Member]
Stock-based compensation	770	577	1,967	1,674
Research and Development Expense [Member]
Stock-based compensation	3,197	2,831	9,887	7,875
Selling and Marketing Expense [Member]
Stock-based compensation	1,227	1,459	4,300	3,590
General and Administrative Expense [Member]
Stock-based compensation	$ 5,295	$ 3,516	$ 13,776	$ 12,024

Note 10 - Stockholders' Equity and Stock-based Compensation - Stock Option Plan Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares
Balance (in shares) \| shares	2,866,675
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 40.54
Weighted average remaining contractual life (Year)	6 years	6 years
Balance, aggregate intrinsic value \| $	$ 120,055	$ 125,647
Granted (in shares) \| shares	269,950
Granted, weighted average exercise price (in dollars per share) \| $ / shares	$ 107.01
Exercised (in shares) \| shares	(695,468)
Exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 34.46
Canceled (in shares) \| shares	(84,486)
Canceled, weighted average exercise price (in dollars per share) \| $ / shares	$ 86.08
Balance (in shares) \| shares	2,356,671	2,866,675
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 48.32	$ 40.54
Vested and expected to vest (in shares) \| shares	2,208,860
Vested and expected to vest, weighted average exercise price (in dollars per share) \| $ / shares	$ 45.07
Weighted Average Remaining Contractual Life (Years), Vested and Expected to Vest (Year)	5 years 9 months 18 days
Vested and expected to vest Aggregate intrinsic value, Vested and expected to vest \| $	$ 118,883
Exercisable (in shares) \| shares	1,666,292
Exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 30.49
Weighted Average Remaining Contractual Life (Years), Exercisable (Year)	4 years 9 months 18 days
Aggregate intrinsic value, Exercisable \| $	$ 112,502

Note 10 - Stockholders' Equity and Stock-Based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Balance (in shares) \| shares	1,214,818
Balance, weighted average grant date fair value per share (in dollars per share) \| $ / shares	$ 67.99
Granted (in shares) \| shares	214,380
Granted, weighted average grant date fair value per share (in dollars per share) \| $ / shares	$ 106.72
Vested (in shares) \| shares	(382,011)
Vested, weighted average grant date fair value per share (in dollars per share) \| $ / shares	$ 61.84
Canceled (in shares) \| shares	(194,576)
Canceled, weighted average grant date fair value per share (in dollars per share) \| $ / shares	$ 75.60
Balance (in shares) \| shares	852,611
Balance, weighted average grant date fair value per share (in dollars per share) \| $ / shares	$ 81.33
Outstanding and expected to vest - September 30, 2020 (in shares) \| shares	640,166
Outstanding and expected to vest - September 30, 2020 (in dollars per share) \| $ / shares	$ 79.28

Note 11 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Net income	$ 22,743	$ 26,319	$ 18,694	$ 19,174	$ 16,232	$ 13,266	$ 67,756	$ 48,672
Basic (in shares)	39,238			39,014			39,171	39,099
Common stock options (in shares)	1,229			1,783			1,351	1,882
Restricted stock units (in shares)	297			365			385	466
Diluted (in shares)	40,764			41,162			40,907	41,447
Basic (in dollars per share)	$ 0.58			$ 0.49			$ 1.73	$ 1.24
Diluted (in dollars per share)	$ 0.56			$ 0.47			$ 1.66	$ 1.17

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Note 11 - Net Income Per Share - Anti-dilutive Net Income Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive securities (in shares)	536	513	677	461
Share-based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	476	462	634	408
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	60	51	43	53

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Tax Expense (Benefit), Total	$ 4,891	$ 5,161	$ 9,189	$ 10,009
Effective Income Tax Rate Reconciliation, Percent, Total	17.70%	21.20%	11.90%	17.10%
Unrecognized Tax Benefits, Ending Balance	$ 8,700		$ 8,700		$ 7,800
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 4,400		$ 4,400		$ 4,200

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Note 13 - Segment Information and Information about Geographic Area - Revenue and Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenues	$ 93,069	$ 82,671	$ 268,162	$ 236,943
Property and equipment, net	67,574		67,574		$ 60,579
UNITED STATES
Revenues	59,152	53,132	171,130	152,457
Property and equipment, net	47,014		47,014		46,100
INDIANA
Property and equipment, net	12,907		12,907		9,221
Non-US [Member]
Revenues	33,917	$ 29,539	97,032	$ 84,486
Other Geographic Areas [Member]
Property and equipment, net	$ 7,653		$ 7,653		$ 5,258