Tenable(US:TENB)2025-07-30 20:12Financial Performance - Revenue for Q2 2025 was $247.3 million, representing a 12% year-over-year increase[5] - Calculated current billings reached $238.6 million, an 8% year-over-year increase[5] - Non-GAAP income from operations was $47.7 million, compared to $42.8 million in Q2 2024[6] - Unlevered free cash flow was $44.3 million, up from $36.5 million in Q2 2024[6] - Revenue for Q2 2025 reached $247.3 million, a 11.8% increase from $221.2 million in Q2 2024[24] - Gross profit for the first half of 2025 was $379.5 million, up 11.8% from $339.5 million in the same period of 2024[24] - Total revenue for the six months ended June 30, 2025, was $486.432 million, compared to $437.202 million for the same period in 2024, reflecting an increase of 11.3%[30] - Non-GAAP net income for the six months ended June 30, 2025, was $85.687 million, compared to $68.602 million in 2024, an increase of 24.9%[33] Cash Flow and Expenses - Cash and cash equivalents decreased to $175.0 million as of June 30, 2025, down from $328.6 million at the end of 2024[27] - Operating expenses increased to $200.3 million in Q2 2025, compared to $181.3 million in Q2 2024, reflecting a 10.5% rise[24] - Net cash provided by operating activities for the first half of 2025 was $129.9 million, significantly higher than $81.8 million in the first half of 2024[29] - Free cash flow for Q2 2025 was $37.416 million, compared to $28.663 million in Q2 2024, marking a 30.5% increase[30] - Business combinations in the first half of 2025 resulted in cash outflows of $196.2 million, compared to $29.2 million in the same period of 2024[29] Customer Growth and Product Development - Tenable added 367 new enterprise platform customers and 76 net new six-figure customers[6] - The acquisition of Apex Security was completed, enhancing the exposure management platform[6] - Tenable launched new connectors and advanced risk dashboards to improve organizational risk visibility[6] Future Projections - For Q3 2025, revenue is expected to be in the range of $246.0 million to $248.0 million[10] - Non-GAAP diluted earnings per share for Q3 2025 are projected to be between $0.36 and $0.37[10] - Forecasted non-GAAP income from operations for Q3 2025 is expected to range from a loss of $3.1 million to a loss of $1.1 million[37] - Forecasted non-GAAP net income for the three months ending September 30, 2025, is projected to be between $44.0 million and $46.0 million[38] - Forecasted free cash flow for the year ending December 31, 2025, is estimated to be between $238.0 million and $248.0 million[38] - The forecasted GAAP net loss for the year ending December 31, 2025, is expected to be between $(55.4) million and $(45.4) million[38] Stock and Compensation - The company repurchased 2.0 million shares for $65.0 million during the quarter[6] - Stock-based compensation for the first half of 2025 was $102.4 million, an increase of 26.2% from $81.1 million in the same period of 2024[29] - The company anticipates total stock-based compensation for the year ending December 31, 2025, to be between $197.5 million[37] - Forecasted stock-based compensation for the year ending December 31, 2025, is estimated at $197.5 million[38] Balance Sheet - Total assets decreased to $1.66 billion as of June 30, 2025, compared to $1.74 billion at the end of 2024[27] - The company reported a decrease in deferred revenue to $624.5 million as of June 30, 2025, down from $650.4 million at the end of 2024[27] - Remaining performance obligations increased by 19% year-over-year, totaling $889.143 million as of June 30, 2025, up from $747.541 million in 2024[30]