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Dec 31, 2022
Tenable Q4 2022 Earnings Report
Tenable's Q4 2022 financial results exceeded expectations with strong growth in revenue and calculated current billings.
Key Takeaways
Tenable announced strong Q4 2022 results, exceeding expectations for both revenue and profitability. The company saw significant traction with Tenable One and added 571 new enterprise platform customers. Revenue increased by 24% year-over-year, and calculated current billings grew by 23%.
Added 571 new enterprise platform customers in Q4 2022.
Revenue was $184.6 million, up 24% year-over-year.
Calculated current billings was $238.9 million, up 23% year-over-year.
Unlevered free cash flow was $32.1 million, compared to $22.4 million in the fourth quarter of 2021.
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 first quarter of 2023, Tenable expects revenue in the range of $186.0 million to $188.0 million and non-GAAP diluted earnings per share in the range of $0.02 to $0.03. For the year ending December 31, 2023, Tenable expects revenue in the range of $800.0 million to $810.0 million and non-GAAP diluted earnings per share in the range of $0.52 to $0.56.
Positive Outlook
- Revenue in the range of $186.0 million to $188.0 million for Q1 2023.
- Non-GAAP income from operations in the range of $9.0 million to $10.0 million for Q1 2023.
- Non-GAAP net income in the range of $3.0 million to $4.0 million for Q1 2023.
- Non-GAAP diluted earnings per share in the range of $0.02 to $0.03 for Q1 2023.
- Calculated current billings in the range of $915.0 million to $925.0 million for FY 2023.
Challenges Ahead
- Non-GAAP income from operations in the range of $86.0 million to $91.0 million for FY 2023.
- Non-GAAP net income in the range of $63.0 million to $68.0 million for FY 2023.
- Non-GAAP diluted earnings per share in the range of $0.52 to $0.56 for FY 2023.
- Assumes interest expense of $7.5 million and a provision for income taxes of $2.1 million for Q1 2023.
- Assumes interest expense of $31.3 million and a provision for income taxes of $9.3 million for FY 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income