NASDAQ$TENB

Tenable Holdings Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported strong topline growth, free cash flow, and the introduction of Tenable.ep and acquisition of Alsid.

Tenable announced strong Q1 2021 financial results, including a 20% year-over-year revenue increase to $123.2 million and free cash flow of $37.6 million. The company added 331 new enterprise platform customers and launched Tenable.ep, a new unified exposure platform, and acquired Alsid.

  • Added 331 new enterprise platform customers and 29 net new six-figure customers.
  • Revenue of $123.2 million, up 20% year-over-year.
  • GAAP loss from operations of $5.8 million; Non-GAAP income from operations of $13.9 million.
  • Net cash provided by operating activities of $38.6 million; Free cash flow of $37.6 million.

Headline financials

Total Revenue

$123M

Previous: $103M+20.0%
EPS (adj)

$0.13

Previous: -$0.09+244.4%
Calculated Current Billings

$119M

Previous: $99.2M+20.4%
New Enterprise Platform Customers

331

Previous: 319+3.8%
Capital Expenditures

-$1.06M

Previous: -$614K-72.8%
Free Cash Flow

-$8.81M

Previous: -$23.6M+62.7%
Net Income

-$7.75M

Previous: -$23M+66.3%
Operating Income

-$5.8M

Previous: -$21.7M+73.2%
Gross Profit

$101M

Previous: $83.9M+20.5%
Cash & Equivalents

$228M

Previous: $108M+111.9%
Total Assets

$701M

Previous: $550M+27.5%
Stock-Based Comp

$17M

No prior period

Revenue & EPS history

Tenable · Revenue · Quarterly

$123M

Q1 2021+20%vs Q1 2020
Beat estimate in 4 of 14 quarters(29%)
ActualEstimate

Revenue by segment

Tenable · $123M total across 3 segments · Q1 2021

  • Subscription Revenue
    $107M+24.3%
  • Perpetual License and Maintenance
    $12.4M-7.6%
  • Professional Services and Other
    $3.38M+19.1%

Forward guidance

For the second quarter of 2021, Tenable expects revenue in the range of $124.0 million to $126.0 million, non-GAAP income from operations in the range of $7.0 million to $8.0 million, non-GAAP net income in the range of $5.0 million to $6.0 million, and non-GAAP diluted earnings per share in the range of $0.04 to $0.05.

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 2021

Historical avgQ1 2021

-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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