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Mar 31, 2022
Tenable Q1 2022 Earnings Report
Delivered outstanding results in the first quarter, marked by accelerating top-line growth, strong profitability, and continued investment in innovation and new product capabilities.
Key Takeaways
Tenable announced strong Q1 2022 results with revenue of $159.4 million, up 29% year-over-year, and calculated current billings of $156.5 million, up 31% year-over-year. The company added 459 new enterprise platform customers. While GAAP loss from operations was $17.5 million, non-GAAP income from operations was $12.5 million. Net cash provided by operating activities was $32.9 million, and unlevered free cash flow was $32.1 million.
Added 459 new enterprise platform customers and 17 net new six-figure customers.
Revenue of $159.4 million, up 29% year-over-year.
Calculated current billings of $156.5 million, up 31% year-over-year.
Net cash provided by operating activities of $32.9 million; Unlevered free cash flow of $32.1 million.
Tenable
Tenable
Tenable Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comPerpetual License & Maintenance Revenue
CapyFin.comProfessional Services & Other Revenue
CapyFin.com Forward Guidance
For the second quarter of 2022, Tenable expects revenue in the range of $162.0 million to $164.0 million and non-GAAP income from operations in the range of $6.0 million to $7.0 million. For the year ending December 31, 2022, Tenable expects calculated current billings in the range of $764.0 million to $772.0 million and revenue in the range of $673.0 million to $679.0 million.
Positive Outlook
- Revenue in the range of $162.0 million to $164.0 million for Q2 2022.
- Non-GAAP income from operations in the range of $6.0 million to $7.0 million for Q2 2022.
- Non-GAAP net income in the range of $1.0 million to $2.0 million for Q2 2022.
- Non-GAAP diluted earnings per share in the range of $0.01 to $0.02 for Q2 2022.
- Calculated current billings in the range of $764.0 million to $772.0 million for the year ending December 31, 2022.
Challenges Ahead
- Non-GAAP income from operations in the range of $6.0 million to $7.0 million for Q2 2022.
- Non-GAAP net income in the range of $1.0 million to $2.0 million for Q2 2022.
- Non-GAAP diluted earnings per share in the range of $0.01 to $0.02 for Q2 2022.
- Revenue is not expected to be significant for the second half of the year ending December 31, 2022 due to the acquisition of Bit Discovery, Inc.
- Bit Discovery is expected to add $2 million to $3 million of non-GAAP net loss for the second half of the year ending December 31, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income