Tenable Holdings, Inc. (NASDAQ: TENB) reported Q2 EPS of ($0.18), $0.02 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $63.6 million versus the consensus estimate of $62.78 million.

“We are pleased with the strength of our second quarter results, highlighted by 44% year-over-year growth in revenue and 39% year-over-year growth in calculated current billings,” said Amit Yoran, Chairman and CEO of Tenable. “Our rapid growth was driven by strong worldwide demand for our enterprise platform offerings, SecurityCenter and Tenable.io, and by the increasing strategic importance of Cyber Exposure. Looking ahead, we are well positioned to capitalize on this multi-billion dollar market opportunity and help companies manage their cybersecurity risk as they undergo digital transformation.”

Second Quarter 2018 Financial Highlights

• Revenue of $63.6 million represented a 44% increase year-over-year.
• Calculated current billings was $77.4 million representing a 39% increase year-over-year.
• GAAP loss from operations was $16.4 million, compared to a loss of $9.2 million in the second quarter of 2017.
• Non-GAAP loss from operations was $13.3 million, compared to a loss of $7.2 million in the second quarter of 2017.
• GAAP net loss per share was $0.73, compared to GAAP net loss per share of $0.43 in the second quarter of 2017.
• Pro forma non-GAAP net loss per share, which gives effect to the conversion of outstanding preferred common stock as of the beginning of the period, was $0.18, compared to pro forma non-GAAP loss per share of $0.09 in the second quarter of 2017.
• Cash and cash equivalents was $23.7 million as of June 30, 2018. Our initial public offering in July generated net proceeds of $265 million, net of underwriting discounts and commissions and offering expenses.
• Net cash provided by operating activities was $0.2 million, compared to net cash used of $(1.0) million in the second quarter of 2017.
• Free cash flow was $(1.1) million, compared to $(1.2) million in the second quarter of 2017.

GUIDANCE:

Tenable Holdings, Inc. sees FY2018 EPS of ($0.72)-($0.70), versus the consensus of ($0.76). Tenable Holdings, Inc. sees FY2018 revenue of $260-261 million, versus the consensus of $257.69 million.

For earnings history and earnings-related data on Tenable Holdings, Inc. (TENB) click here.