NASDAQ$TENB

Tenable Holdings Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Tenable delivered a successful first quarter, highlighted by positive free cash flow and revenue increase.

Tenable announced financial results for the first quarter of 2020, with revenue of $102.6 million, a 28% increase year-over-year. The company added 319 new enterprise platform customers and 24 net new six-figure customers. Free cash flow was $3.9 million, marking the first quarter of positive free cash flow as a public company.

  • Added 319 new enterprise platform customers and 24 net new six-figure customers
  • Revenue of $102.6 million, up 28% year-over-year
  • Net cash provided by operating activities of $4.5 million
  • Free cash flow of $3.9 million, the first quarter of positive free cash flow as a public company

Headline financials

Total Revenue

$103M

Previous: $80.3M+27.8%
EPS (adj)

-$0.09

Previous: -$0.13+30.8%
Calculated Current Billings

$99.2M

Previous: $81.2M+22.2%
New Enterprise Platform Customers

319

No prior period
Capital Expenditures

-$614K

Previous: -$2.31M+73.4%
Free Cash Flow

-$23.6M

Previous: -$23.7M+0.7%
Net Income

-$23M

Previous: -$21.4M-7.2%
Operating Income

-$21.7M

Previous: -$22.7M+4.5%
Gross Profit

$83.9M

Previous: $67.1M+25.2%
Cash & Equivalents

$108M

No prior period
Total Assets

$550M

No prior period

Revenue & EPS history

Tenable · Revenue · Quarterly

$103M

Q1 2020+27.8%vs Q1 2019
Beat estimate in 2 of 10 quarters(20%)
ActualEstimate

Revenue by segment

Tenable · $103M total across 3 segments · Q1 2020

  • Subscription Revenue
    $86.4M+33.4%
  • Perpetual License and Maintenance
    $13.4M-0.8%
  • Professional Services and Other
    $2.84M+39.4%

Forward guidance

For the second quarter of 2020, Tenable expects revenue in the range of $101.0 million to $103.0 million, non-GAAP loss from operations in the range of $5.5 million to $3.5 million, non-GAAP net loss in the range of $6.0 million to $4.0 million, and non-GAAP net loss per share in the range of $0.06 to $0.04.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-1.9%

Avg return

Earnings day

-2.6%

Avg return

5 days after

-1.9%

Avg return

30 days after

42%

13 / 31 earnings

Positive

+20.6%

Q3 2022

Best reaction

-21.4%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.1%-2.1%+31.5%
Q4 2025+0.2%+16.1%+6.7%
Q3 2025+0.7%-2.0%-7.4%
Q1 2025-9.2%-7.2%-4.3%
Q4 2024+1.5%-1.8%-10.1%
Q3 2024-5.2%-7.4%+0.4%
Q2 2024-9.9%-14.9%-12.4%
Q1 2024+0.5%+1.2%-6.2%
Q4 2023+6.7%+10.5%-0.6%
Q3 2023-16.1%-12.1%-3.2%
Q2 2023+11.3%+10.0%-1.3%
Q1 2023-21.1%-20.5%-17.3%
Q4 2022+6.8%+4.6%+1.8%
Q3 2022+20.6%+24.3%+17.3%
Q2 2022-21.4%-19.7%-13.6%
Q1 2022-2.1%-4.6%-14.5%
Q4 2021-1.8%-1.5%+8.5%
Q3 2021-1.2%+0.5%-3.1%
Q2 2021-0.6%-5.5%-3.5%
Q1 2021-8.1%-13.1%-2.5%
Q4 2020-8.0%-8.9%-24.9%
Q3 2020-1.9%-6.8%-4.1%
Q2 2020+16.9%+10.8%+18.4%
Q1 2020+6.0%+0.6%+20.7%
Q4 2019-2.8%-3.6%-16.7%
Q3 2019+12.5%+7.3%+17.4%
Q2 2019-17.8%-19.6%-27.7%
Q1 2019-9.6%-13.7%-20.0%
Q4 2018-9.1%-8.2%+3.4%
Q3 2018-8.2%-9.5%-11.2%
Q2 2018+6.1%+15.2%+18.2%
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017

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