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Mar 31, 2023
Tenable Q1 2023 Earnings Report
Reported strong operating income and cash flow, reaffirming full-year guidance amidst macro uncertainty, with Tenable One gaining traction as organizations consolidate spend and seek ROI-driven cybersecurity solutions.
Key Takeaways
Tenable's Q1 2023 shows an 18% increase in revenue year-over-year, reaching $188.8 million. The company added 379 new enterprise platform customers and 24 net new six-figure customers.
Added 379 new enterprise platform customers and 24 net new six-figure customers.
Revenue of $188.8 million, up 18% year-over-year.
Calculated current billings of $176.8 million, up 13% year-over-year.
Net cash provided by operating activities of $38.7 million; Unlevered free cash flow of $44.2 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 2023, Tenable expects revenue in the range of $189.0 million to $191.0 million and non-GAAP diluted earnings per share in the range of $0.12 to $0.13. For the year ending December 31, 2023, the company expects revenue in the range of $775.0 million to $785.0 million and unlevered free cash flow in the range of $175.0 million to $180.0 million.
Positive Outlook
- Revenue in the range of $189.0 million to $191.0 million for Q2 2023.
- Non-GAAP income from operations in the range of $20.0 million to $21.0 million for Q2 2023.
- Non-GAAP net income in the range of $15.0 million to $16.0 million for Q2 2023.
- Non-GAAP diluted earnings per share in the range of $0.12 to $0.13 for Q2 2023.
- Calculated current billings in the range of $875.0 million to $885.0 million for the year ending December 31, 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income