NASDAQ$TENB
Tenable Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced second quarter 2024 financial results, demonstrating revenue increase and strategic business expansions.
Tenable reported a 13% year-over-year increase in revenue, reaching $221.2 million, and a 10% increase in calculated current billings, totaling $221.1 million. The company's GAAP operating margin was (4)%, while the non-GAAP operating margin was 19%. Tenable also highlighted the momentum in its newer products, Tenable Cloud Security and Tenable One.
- Revenue increased by 13% year-over-year, reaching $221.2 million.
- Calculated current billings increased by 10% year-over-year, totaling $221.1 million.
- GAAP operating margin was (4)%, while non-GAAP operating margin was 19%.
- Added 408 new enterprise platform customers and 76 net new six-figure customers.
Headline financials
Revenue & EPS history
Tenable · Revenue · Quarterly
$221M
Revenue by segment
Tenable · $202M total across 3 segments · Q3 2023
- Subscription Revenue$183M+16.9%90.9%
- Perpetual License and Maintenance$12.2M-3.6%6.1%
- Professional Services and Other$6.06M+11.6%3.0%
Forward guidance
For the third quarter of 2024, Tenable expects revenue in the range of $222.0 million to $224.0 million and non-GAAP income from operations in the range of $42.0 million to $44.0 million. For the year ending December 31, 2024, the company expects revenue in the range of $889.0 million to $895.0 million and calculated current billings in the range of $957.0 million to $967.0 million.
Tailwinds
- Revenue in the range of $222.0 million to $224.0 million for Q3 2024.
- Non-GAAP income from operations in the range of $42.0 million to $44.0 million for Q3 2024.
- Non-GAAP net income in the range of $35.0 million to $37.0 million for Q3 2024.
- Non-GAAP diluted earnings per share in the range of $0.28 to $0.30 for Q3 2024.
- Calculated current billings in the range of $957.0 million to $967.0 million for the year ending December 31, 2024.
Headwinds
- Interest expense of $8.3 million is expected for Q3 2024.
- Interest income of $5.7 million is expected for Q3 2024.
- A provision for income taxes of $3.8 million is expected for Q3 2024.
- Non-GAAP net income in the range of $143.0 million to $147.0 million for the year ending December 31, 2024.
- Unlevered free cash flow in the range of $225.0 million to $235.0 million for the year ending December 31, 2024.
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 Q2 2024
-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
| Quarter | Report date | Reaction (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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