TENABLE HOLDINGS Reports Second Quarter FY2023 Earnings Results for June 30 2023
August 23, 2023
🌥️Earnings Overview
On July 25 2023, TENABLE HOLDINGS ($NASDAQ:TENB) reported its second quarter earnings results for the period ending June 30 2023. The company’s total revenue for the period was USD 195.0 million, a year-over-year increase of 18.7%. Net income was -16.0 million, a significant improvement from -27.5 million in the same period last year.
Stock Price
The company’s stock opened at $43.3 and closed at $43.8, up by 1.0% from the previous day’s closing price of $43.3. Investors responded positively to the news, with the stock price growing steadily throughout the day. TENABLE HOLDINGS also announced that they had finalized their strategic partnership with Cybersecurity firm SecurityScorecard, which will help them enhance their cybersecurity capabilities and offer innovative security solutions to their customers.
In addition, the company also announced the launch of their new product offering, Tenable On-Demand, which will provide customers with a comprehensive suite of security tools to help them protect their networks and systems from cyberattacks. Overall, it was a positive quarter for TENABLE HOLDINGS, with the company reporting strong financials and announcing new partnerships and products that could further strengthen their position in the cybersecurity industry. Investors responded favorably to the news, and it is expected that the company’s stock price will continue to grow in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tenable Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 743.36 | -81.29 | -10.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tenable Holdings. More…
| Operations | Investing | Financing |
| 136.71 | -43.31 | 16.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tenable Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.47k | 1.15k | 2.74 |
Key Ratios Snapshot
Some of the financial key ratios for Tenable Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.1% | – | -5.7% |
| FCF Margin | ROE | ROA |
| 16.6% | -8.8% | -1.8% |
Analysis
At GoodWhale, we have conducted an analysis of TENABLE HOLDINGS‘s wellbeing. According to our Star Chart, TENABLE HOLDINGS has an intermediate health score of 5/10 considering its cashflows and debt, which might be able to sustain future operations in times of crisis. TENABLE HOLDINGS is strong in growth, medium in asset and weak in dividend, profitability. Based on this outcome, we have classified TENABLE HOLDINGS as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking for companies with high growth opportunities and are willing to take on greater risk may be interested in TENABLE HOLDINGS. Due to the lower profitability of the company, these investors should do their due diligence to ensure that they understand the risks associated with the company. Additionally, investors should carefully evaluate the market and competitive landscape, as well as the company’s management team. More…
Peers
Tenable was founded in 2002 by Jack Huffard, Ron Gula, and Marcus Ranum. Tenable went public in July 2018, and trades on the NASDAQ under the symbol TENB. Tenable delivers Tenable.io, the world’s first Cyber Exposure platform, as well as a suite of award-winning products including the Nessus vulnerability scanner. Tenable.io provides continuous visibility into an organization’s cyber exposure across their entire attack surface, from operating systems and hardware to virtualization and cloud environments and containers. By identifying and prioritizing vulnerabilities and configurations issues, Tenable.io helps organizations to fix critical issues before they can be exploited. In addition to Tenable.io, Tenable also offers a suite of products that includes the Nessus vulnerability scanner, which is used by more than 1.5 million users in over 150 countries. Nessus is available in a variety of editions, including a free edition, and is used by small businesses, Fortune 500 companies, government agencies, and many of the world’s leading service providers.
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Summary
This indicates the company is growing steadily and investors can expect strong returns in the near future. Despite the net income being negative, investors should take comfort in the fact that TENABLE HOLDINGS is reducing their losses significantly which could lead to a profitable quarter in the future.
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