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Jun 30, 2024
Tenable Q2 2024 Earnings Report
Announced second quarter 2024 financial results, demonstrating revenue increase and strategic business expansions.
Key Takeaways
Tenable reported a 13% year-over-year increase in revenue, reaching $221.2 million, and a 10% increase in calculated current billings, totaling $221.1 million. The company's GAAP operating margin was (4)%, while the non-GAAP operating margin was 19%. Tenable also highlighted the momentum in its newer products, Tenable Cloud Security and Tenable One.
Revenue increased by 13% year-over-year, reaching $221.2 million.
Calculated current billings increased by 10% year-over-year, totaling $221.1 million.
GAAP operating margin was (4)%, while non-GAAP operating margin was 19%.
Added 408 new enterprise platform customers and 76 net new six-figure customers.
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 2024, Tenable expects revenue in the range of $222.0 million to $224.0 million and non-GAAP income from operations in the range of $42.0 million to $44.0 million. For the year ending December 31, 2024, the company expects revenue in the range of $889.0 million to $895.0 million and calculated current billings in the range of $957.0 million to $967.0 million.
Positive Outlook
- Revenue in the range of $222.0 million to $224.0 million for Q3 2024.
- Non-GAAP income from operations in the range of $42.0 million to $44.0 million for Q3 2024.
- Non-GAAP net income in the range of $35.0 million to $37.0 million for Q3 2024.
- Non-GAAP diluted earnings per share in the range of $0.28 to $0.30 for Q3 2024.
- Calculated current billings in the range of $957.0 million to $967.0 million for the year ending December 31, 2024.
Challenges Ahead
- Interest expense of $8.3 million is expected for Q3 2024.
- Interest income of $5.7 million is expected for Q3 2024.
- A provision for income taxes of $3.8 million is expected for Q3 2024.
- Non-GAAP net income in the range of $143.0 million to $147.0 million for the year ending December 31, 2024.
- Unlevered free cash flow in the range of $225.0 million to $235.0 million for the year ending December 31, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income