Tenable Holdings, Inc. (NASDAQ: TENB) reported Q3 EPS of $0.09, $0.06 better than the analyst estimate of $0.03. Revenue for the quarter came in at $112.3 million versus the consensus estimate of $109.64 million.

Third Quarter 2020 Financial Highlights

• Revenue was $112.3 million, representing a 22% increase year-over-year.
• Calculated current billings was $133.7 million, representing a 21% increase year-over-year.
• GAAP loss from operations was $3.5 million, compared to a loss of $18.3 million in the third quarter of 2019.
• Non-GAAP income from operations was $12.4 million, compared to a loss of $7.7 million in the third quarter of 2019.
• GAAP net loss was $5.9 million, compared to a loss of $17.6 million in the third quarter of 2019.
• GAAP net loss per share was $0.06, compared to a loss per share of $0.18 in the third quarter of 2019.
• Non-GAAP net income was $10.5 million, compared to a loss of $6.7 million in the third quarter of 2019.
• Non-GAAP diluted earnings per share was $0.09, compared to a loss per share of $0.07 in the third quarter of 2019.
• Cash and cash equivalents and short-term investments were $269.1 million at September 30, 2020, compared to $212.3 million at December 31, 2019.
• Net cash provided by operating activities was $24.8 million, compared to $4.7 million of net cash used in operating activities in the third quarter of 2019.
• Free cash flow was $16.7 million, compared to $(9.6) million in the third quarter of 2019.

“We are pleased with our results for the quarter which includes attractive topline growth and expanding operating and free cash flow margins,” said Amit Yoran, Chairman and CEO of Tenable. “Remote work models have accelerated digital transformation and cloud adoption and organizations are increasingly relying on Tenable to secure these dynamic, modern environments. Tenable is helping customers invest in the cloud confidently and securely, empowering them to take a unified, risk-based approach to vulnerability management.”

GUIDANCE:

Tenable Holdings, Inc. sees Q4 2020 EPS of $0.05-$0.06, versus the consensus of $0.03. Tenable Holdings, Inc. sees Q4 2020 revenue of $113-115 million, versus the consensus of $112.49 million.

Tenable Holdings, Inc. sees FY2020 EPS of $0.11-$0.12, versus the consensus of $0.02. Tenable Holdings, Inc. sees FY2020 revenue of $435.1-437.1 million, versus the consensus of $432.1 million.

For the fourth quarter of 2020, we currently expect:

• Revenue in the range of $113.0 million to $115.0 million.
• Non-GAAP income from operations in the range of $8.0 million to $9.0 million.
• Non-GAAP net income in the range of $6.0 million to $7.0 million.
• Non-GAAP diluted earnings per share in the range of $0.05 to $0.06.
• 113.0 million diluted weighted average shares outstanding.

For the year ending December 31, 2020, we currently expect:

• Revenue in the range of $435.1 million to $437.1 million.
• Non-GAAP income from operations in the range of $18.4 million to $19.4 million.
• Non-GAAP net income in the range of $12.4 million to $13.4 million.
• Non-GAAP diluted earnings per share in the range of $0.11 to $0.12.
• 110.6 million diluted weighted average shares outstanding.

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