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Sep 30
Tenable Q3 2025 Earnings Report
Tenable exceeded Q3 revenue and profit expectations, driven by strong demand for its Tenable One Exposure Management platform.
Key Takeaways
Tenable reported strong third-quarter 2025 financial results, surpassing revenue and profit expectations. The company achieved $252.4 million in revenue, an 11% year-over-year increase, and a non-GAAP diluted EPS of $0.42. This performance was attributed to robust demand for its exposure management platform and the industry's shift towards proactive cybersecurity.
Revenue reached $252.4 million, marking an 11% year-over-year growth.
GAAP net income was $2.3 million, a significant improvement from a loss in the prior year.
Non-GAAP diluted earnings per share was $0.42, exceeding expectations.
Calculated current billings grew by 8% year-over-year to $267.5 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 fourth quarter of 2025, Tenable expects revenue between $249.1 million and $253.1 million, and non-GAAP diluted earnings per share between $0.39 and $0.43. For the full year 2025, the company anticipates calculated current billings between $1.040 billion and $1.048 billion, and revenue between $988.0 million and $992.0 million.
Positive Outlook
- Fourth quarter 2025 revenue expected to be between $249.1 million and $253.1 million.
- Fourth quarter 2025 non-GAAP income from operations projected between $55.7 million and $59.7 million.
- Fourth quarter 2025 non-GAAP diluted EPS expected between $0.39 and $0.43.
- Full-year 2025 calculated current billings anticipated between $1.040 billion and $1.048 billion.
- Full-year 2025 revenue projected between $988.0 million and $992.0 million.
Challenges Ahead
- Forecasted GAAP net loss for Q4 2025 between $(6.0) million and $(2.0) million.
- Forecasted GAAP net loss per share for Q4 2025 between $(0.05) and $(0.02).
- Forecasted GAAP net loss for full-year 2025 between $(41.3) million and $(37.3) million.
- Forecasted GAAP net loss per share for full-year 2025 between $(0.34) and $(0.31).
- Unlevered free cash flow for the full year is projected to be between $265.0 million and $275.0 million, which is a broad range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income