TENABLE HOLDINGS Reports Second Quarter FY2023 Earnings with 18.7% Year-Over-Year Increase in Total Revenue to USD 195.0 Million

☀️Earnings Overview

On July 25, 2023, TENABLE HOLDINGS ($NASDAQ:TENB) reported their financial results for Q2 of FY2023, revealing that total revenue had risen 18.7% year-over-year to a total of USD 195.0 million. Unfortunately, net income declined from the prior year’s -27.5 million to -16.0 million.

Analysis

GoodWhale has conducted an analysis of TENABLE HOLDINGS‘s financials, and the results show that TENABLE HOLDINGS is a medium risk investment in terms of financial and business aspects. This can be seen through the Risk Rating that GoodWhale has assigned to TENABLE HOLDINGS, which indicates that investors should proceed with caution when considering this investment. However, GoodWhale has also identified three risk warnings in the balance sheet, cashflow statement, and non-financial data, which should be taken into account before investing. For more information on these risk warnings, investors can register with GoodWhale to access the full report. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Tenable Holdings. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Tenable Holdings. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Tenable Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for Tenable Holdings are shown below. 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.

– Indra Sistemas SA ($OTCPK:ISMAY)

Indra Sistemas SA is a Spanish company that provides technology solutions for defense, security, and transportation. As of 2022, the company has a market capitalization of 1.7 billion euros and a return on equity of 18.37%. Indra Sistemas SA is a leading provider of technology solutions for the defense, security, and transportation markets. The company has a strong presence in Spain and Europe, and is expanding its operations in Asia and the Americas.

– Check Point Software Technologies Ltd ($NASDAQ:CHKP)

Check Point Software Technologies Ltd is a software company that provides internet security solutions. Its products include firewall products, anti-virus software, and intrusion detection systems. The company has a market cap of 16.5B as of 2022 and a Return on Equity of 18.44%. Check Point Software Technologies is headquartered in Tel Aviv, Israel.

– Cyber Security 1 AB ($LTS:0GCB)

Cyber Security 1 AB is a Swedish company that specializes in providing cyber security solutions. The company has a market capitalization of 16.14 million as of 2022 and a return on equity of -11.14%. Cyber Security 1 AB’s solutions include intrusion detection and prevention, vulnerability management, and security information and event management. The company serves a range of industries, including government, healthcare, finance, and retail.

Summary

Tenable Holdings reported their second quarter of FY 2023 earnings on July 25, 2023, showing an impressive increase in total revenue of 18.7% to USD 195.0 million compared to the prior year. Net income was reported at USD -16.0 million, however this was still lower than the prior year of -27.5 million. Investors should consider this overall performance favorably as it indicates robust demand for Tenable’s products and services.

The stock has been volatile up to this point, however the results of this quarter demonstrate the company’s ability to generate revenue and potentially turn a profit in the near future. Investors should consider the long-term prospects of Tenable Holdings and weigh the risks against potential rewards.