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Mar 31
Tenable Q1 2025 Earnings Report
Reported financial results for the quarter ended March 31, 2025
Key Takeaways
Tenable reported a strong start to 2025 with better-than-expected results in Q1, driven by momentum in Tenable One and securing significant six- and seven-figure deals. Revenue increased 11% year-over-year, and calculated current billings grew 9%. The company also completed the acquisition of Vulcan Cyber Ltd. and launched new product capabilities.
Revenue for Q1 2025 was $239.1 million, an increase of 11% compared to the same period in the prior year.
Calculated current billings reached $215.4 million, up 9% year-over-year.
Non-GAAP income from operations was $48.7 million, resulting in a non-GAAP operating margin of 20%.
The company added 361 new enterprise platform customers and 54 net new six-figure customers in the quarter.
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 2025, Tenable expects revenue between $241.0 million and $243.0 million and non-GAAP diluted earnings per share between $0.29 and $0.31. For the full year 2025, the company anticipates calculated current billings between $1.025 billion and $1.045 billion, revenue between $970.0 million and $980.0 million, non-GAAP diluted earnings per share between $1.44 and $1.52, and unlevered free cash flow between $265.0 million and $275.0 million.
Positive Outlook
- Expected revenue growth in Q2 2025 and for the full year 2025.
- Anticipated positive non-GAAP income from operations for Q2 and the full year 2025.
- Forecasted positive non-GAAP net income and diluted earnings per share for Q2 and the full year 2025.
- Projected strong unlevered free cash flow for the full year 2025.
- Continued focus on strategic partnerships and platform adoption to drive future growth.
Challenges Ahead
- The forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially.
- Forecasted GAAP net loss for Q2 and the full year 2025.
- Forecasted GAAP net loss per share for Q2 and the full year 2025.
- Significant non-GAAP adjustments are expected, particularly for stock-based compensation.
- Acquisition-related expenses are expected to continue impacting financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income