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Sep 30, 2023
Tenable Q3 2023 Earnings Report
Tenable's Q3 2023 financial results were announced, demonstrating year-over-year revenue and calculated current billings growth.
Key Takeaways
Tenable reported a 15% year-over-year increase in revenue, reaching $201.5 million for Q3 2023. Calculated current billings increased by 8% year-over-year to $224.7 million. The company added 386 new enterprise platform customers.
Revenue reached $201.5 million, a 15% increase year-over-year.
Calculated current billings totaled $224.7 million, up 8% year-over-year.
GAAP loss from operations improved to $7.9 million, compared to a loss of $13.0 million in Q3 2022.
Unlevered free cash flow was $48.2 million, compared to $34.8 million in Q3 2022.
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 fourth quarter of 2023, Tenable expects revenue in the range of $204.0 million to $208.0 million and non-GAAP diluted earnings per share in the range of $0.13 to $0.14.
Positive Outlook
- Revenue in the range of $204.0 million to $208.0 million.
- Non-GAAP income from operations in the range of $23.0 million to $24.0 million.
- Non-GAAP net income in the range of $16.0 million to $17.0 million.
- Non-GAAP diluted earnings per share in the range of $0.13 to $0.14.
- 123.5 million diluted weighted average shares outstanding.
Challenges Ahead
- Non-GAAP income from operations is expected to be between $23.0 million and $24.0 million.
- Interest expense of $8.3 million.
- Interest income of $4.9 million.
- Provision for income taxes of $3.0 million.
- The forecasts are subject to a number of uncertainties and assumptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income