Tenable Holdings, Inc. (NASDAQ: TENB) reported Q4 EPS of $0.13, $0.07 better than the analyst estimate of $0.06. Revenue for the quarter came in at $118.1 million versus the consensus estimate of $114.85 million.

Fourth Quarter 2020 Financial Highlights

• Revenue was $118.1 million, representing a 22% increase year-over-year.
• Calculated current billings was $150.5 million, representing a 20% increase year-over-year.
• GAAP loss from operations was $0.7 million, compared to a loss of $27.6 million in the fourth quarter of 2019.
• Non-GAAP income from operations was $15.4 million, compared to a loss of $11.1 million in the fourth quarter of 2019.
• GAAP net loss was $1.9 million, compared to a loss of $38.3 million in the fourth quarter of 2019.
• GAAP net loss per share was $0.02, compared to a loss per share of $0.39 in the fourth quarter of 2019.
• Non-GAAP net income was $14.4 million, compared to a loss of $11.1 million in the fourth quarter of 2019.
• Non-GAAP diluted earnings per share was $0.13, compared to a loss per share of $0.11 in the fourth quarter of 2019.
• Net cash provided by operating activities was $17.9 million, compared to $3.1 million of net cash used in operating activities in the fourth quarter of 2019.
• Free cash flow was $16.7 million, compared to $(13.5) million in the fourth quarter of 2019.

“Q4 capped a very successful 2020 for Tenable, and included attractive topline growth, expanding operating margins and positive free cash flow,” said Amit Yoran, Chairman and CEO of Tenable. “Underpinning our strong financial performance is healthy demand for securing new cloud deployments and digital infrastructure as the threat environment escalates. Tenable’s risk-based vulnerability management solutions provide unified visibility across this expanding attack surface, enabling customers to understand, quantify and ultimately reduce their risk.”

GUIDANCE:

Tenable Holdings, Inc. sees Q1 2021 EPS of $0.04-$0.06, versus the consensus of $0.04. Tenable Holdings, Inc. sees Q1 2021 revenue of $118-120 million, versus the consensus of $121.02 million.

Tenable Holdings, Inc. sees FY2021 EPS of $0.26-$0.30, versus the consensus of $0.26. Tenable Holdings, Inc. sees FY2021 revenue of $565-575 million, versus the consensus of $520.81 million.

Financial Outlook

For the first quarter of 2021, we currently expect:

• Revenue in the range of $118.0 million to $120.0 million.
• Non-GAAP income from operations in the range of $7.0 million to $9.0 million.
• Non-GAAP net income in the range of $5.0 million to $7.0 million, assuming a provision for income taxes of $1.5 million.
• Non-GAAP diluted earnings per share in the range of $0.04 to $0.06.
• 115.0 million diluted weighted average shares outstanding.

For the year ending December 31, 2021, we currently expect:

• Calculated current billings in the range of $565.0 million to $575.0 million.
• Revenue in the range of $510.0 million to $515.0 million.
• Non-GAAP income from operations in the range of $40.0 million to $45.0 million.
• Non-GAAP net income in the range of $30.0 million to $35.0 million, assuming a provision for income taxes of $6.0 million.
• Non-GAAP diluted earnings per share in the range of $0.26 to $0.30.
• 116.0 million diluted weighted average shares outstanding.

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