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Jun 30, 2023
Tenable Q2 2023 Earnings Report
Reported better-than-expected top-line growth and a sizable beat in earnings.
Key Takeaways
Tenable's Q2 2023 financial results showed a 19% year-over-year revenue increase, reaching $195.0 million. The company added 426 new enterprise platform customers and 63 net new six-figure customers. Calculated current billings increased by 15% year-over-year to $200.2 million. Unlevered free cash flow was $39.8 million.
Added 426 new enterprise platform customers and 63 net new six-figure customers.
Revenue of $195.0 million, up 19% year-over-year.
Calculated current billings of $200.2 million, up 15% year-over-year.
Unlevered free cash flow of $39.8 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 third quarter of 2023, Tenable expects revenue in the range of $197.0 million to $199.0 million and non-GAAP diluted earnings per share in the range of $0.18 to $0.19.
Positive Outlook
- Revenue in the range of $197.0 million to $199.0 million.
- Non-GAAP income from operations in the range of $26.0 million to $27.0 million.
- Non-GAAP net income in the range of $22.0 million to $23.0 million, assuming interest expense of $8.1 million, interest income of $6.5 million and a provision for income taxes of $2.4 million.
- Non-GAAP diluted earnings per share in the range of $0.18 to $0.19.
- 122.5 million diluted weighted average shares outstanding.
Revenue & Expenses
Visualization of income flow from segment revenue to net income