Tenable(US:TENB)2025-04-29 20:08Financial Performance - Revenue for Q1 2025 was $239.1 million, an 11% increase year-over-year[6] - Calculated current billings for Q1 2025 were $215.4 million, up 9% year-over-year[6] - GAAP net loss for Q1 2025 was $22.9 million, compared to a net loss of $14.4 million in Q1 2024[7] - Non-GAAP net income for Q1 2025 was $44.3 million, compared to $30.4 million in Q1 2024[7] - Total revenue for the three months ended March 31, 2025, was $239,137,000, representing a 10.8% increase from $215,961,000 in the same period of 2024[33] - Net loss for the three months ended March 31, 2025, was $22,935,000, compared to a net loss of $14,386,000 in the same period of 2024[32] - Non-GAAP income from operations was $48,677,000 for the three months ended March 31, 2025, compared to $37,008,000 in 2024, reflecting a non-GAAP operating margin of 20%[35] Cash Flow and Liquidity - Cash and cash equivalents at March 31, 2025, were $460.3 million, down from $577.2 million at December 31, 2024[7] - Net cash provided by operating activities was $87.4 million, compared to $50.3 million in Q1 2024[7] - Free cash flow for the three months ended March 31, 2025, was $80,230,000, an increase from $47,129,000 in the prior year[33] - Forecasted net cash provided by operating activities for the year ending December 31, 2025 is estimated to be between $256.0 million and $266.0 million[43] Customer Growth - The company added 361 new enterprise platform customers and 54 net new six-figure customers in Q1 2025[7] Acquisitions - Tenable completed the acquisition of Vulcan Cyber Ltd., enhancing its exposure management platform[7] Future Projections - For Q2 2025, the company expects revenue in the range of $241.0 million to $243.0 million[5] - Forecasted non-GAAP income from operations for Q2 2025 is estimated between $43.0 million and $45.0 million[40] - Forecasted non-GAAP net income for Q2 2025 is projected to be between $36.0 million and $38.0 million[41] - Forecasted free cash flow for the year ending December 31, 2025 is expected to be between $238.0 million and $248.0 million[43] - Forecasted unlevered free cash flow for the year ending December 31, 2025 is projected to be between $265.0 million and $275.0 million[43] - Stock-based compensation for the year ending December 31, 2025 is forecasted at $196.0 million[41] Financial Position - Remaining performance obligations totaled $882,245,000 as of March 31, 2025, up from $742,411,000 in the prior year[33] - Total assets decreased to $1,693,577,000 as of March 31, 2025, from $1,742,119,000 at the end of 2024[30] - Total liabilities were $1,310,416,000 as of March 31, 2025, compared to $1,342,165,000 at the end of 2024[30] Profitability Metrics - Non-GAAP gross profit for Q1 2025 was $195.856 million, up from $174.680 million in Q1 2024, reflecting a growth of 12.0%[39] - Non-GAAP gross margin improved to 82% in Q1 2025, compared to 81% in Q1 2024[39] - Non-GAAP sales and marketing expense as a percentage of revenue decreased to 36% in Q1 2025 from 39% in Q1 2024[39] - Non-GAAP research and development expense increased to $39.017 million in Q1 2025, up from $32.586 million in Q1 2024, representing a growth of 19.6%[39]