NASDAQ$TENB

Tenable Holdings Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Tenable's Q4 2019 financial results were announced, showing revenue growth and strategic advancements.

Tenable's Q4 2019 revenue reached $97.0 million, a 29% increase year-over-year, with calculated current billings at $125.0 million, up 28% year-over-year. The company added 461 new enterprise platform customers. However, the GAAP net loss was $38.3 million, or $0.39 per share.

  • Revenue increased by 29% year-over-year, reaching $97.0 million.
  • Calculated current billings grew by 28% year-over-year, totaling $125.0 million.
  • 461 new enterprise platform customers were added.
  • Acquisition of Indegy extended operational technology expertise.

Headline financials

Total Revenue

$97M

Previous: $75.2M+29.0%
EPS (adj)

-$0.11

Previous: -$0.12+8.3%
Calculated Current Billings

$125M

Previous: $97.3M+28.5%
New Enterprise Platform Customers

461

No prior period
Capital Expenditures

$10.4M

No prior period
Free Cash Flow

-$13.5M

No prior period
Net Income

-$38.3M

No prior period
Operating Income

-$27.6M

No prior period
Gross Profit

$78.6M

No prior period
Cash & Equivalents

$74.4M

No prior period
Total Assets

$559M

No prior period
Stock-Based Comp

$10.4M

No prior period

Revenue & EPS history

Tenable · Revenue · Quarterly

$97M

Q4 2019+29%vs Q4 2018
Beat estimate in 2 of 10 quarters(20%)
ActualEstimate

Revenue by segment

Tenable · $97M total across 3 segments · Q4 2019

  • Subscription Revenue
    $80.9M+36.6%
  • Perpetual License and Maintenance
    $13.3M-4.1%
  • Professional Services and Other
    $2.81M+34.4%

Forward guidance

For Q1 2020, Tenable anticipates revenue between $100.0 million and $101.0 million, with a non-GAAP loss per share between $0.19 and $0.18. For the full year 2020, revenue is projected to be between $435.0 million and $440.0 million, with calculated current billings between $500.0 million and $510.0 million.

Tailwinds

  • Revenue in the range of $100.0 million to $101.0 million for Q1 2020.
  • Non-GAAP loss from operations in the range of $18.0 million to $17.0 million for Q1 2020.
  • Non-GAAP net loss in the range of $19.0 million to $18.0 million for Q1 2020.
  • Revenue in the range of $435.0 million to $440.0 million for the year ending December 31, 2020.
  • Calculated current billings in the range of $500.0 million to $510.0 million for the year ending December 31, 2020.

Headwinds

  • Non-GAAP loss from operations in the range of $38.0 million to $33.0 million for the year ending December 31, 2020.
  • Non-GAAP net loss in the range of $41.0 million to $36.0 million for the year ending December 31, 2020.
  • Non-GAAP net loss per share in the range of $0.19 to $0.18 for Q1 2020.
  • Non-GAAP net loss per share in the range of $0.41 to $0.36 for the year ending December 31, 2020.
  • Loss from operations $(31.6) million to $(30.6) million for Q1 2020.

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 Q4 2019

Historical avgQ4 2019

-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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