Tenable(US:TENB)2025-10-29 20:17Financial Performance - Revenue for Q3 2025 was $252.4 million, representing an 11% year-over-year growth[6] - Calculated current billings for Q3 2025 were $267.5 million, an 8% increase year-over-year[7] - GAAP net income was $2.3 million, compared to a loss of $9.2 million in Q3 2024[7] - Non-GAAP net income was $51.4 million, up from $39.3 million in Q3 2024[7] - Non-GAAP diluted earnings per share increased to $0.42 from $0.32 in Q3 2024[7] - Revenue for Q3 2025 was $252,440,000, a 11.2% increase from $227,088,000 in Q3 2024[25] - Gross profit for Q3 2025 reached $195,687,000, compared to $176,589,000 in Q3 2024, reflecting a 10.8% growth[25] - Net income for Q3 2025 was $2,260,000, a significant improvement from a net loss of $9,211,000 in Q3 2024[25] - Total revenue for the nine months ended September 30, 2025, was $738.9 million, a 11.2% increase compared to $664.3 million for the same period in 2024[30] - Non-GAAP income from operations for Q3 2025 was $58.9 million, compared to $45.0 million in Q3 2024, representing a 30.0% increase[32] - Non-GAAP net income for the nine months ended September 30, 2025, was $137.1 million, up 27.1% from $107.9 million in 2024[32] Customer Growth - Added 437 new enterprise platform customers and 38 net new six-figure customers in Q3 2025[7] Future Guidance - For Q4 2025, revenue is expected to be in the range of $249.1 million to $253.1 million[11] - Full-year revenue guidance for 2025 is projected between $988.0 million and $992.0 million[11] - Forecasted non-GAAP income from operations for the three months ending December 31, 2025, is projected to be between $55.7 million and $59.7 million, with a year-end forecast of $211.0 million to $215.0 million[36] - The forecasted net loss for the three months ending December 31, 2025, is estimated to be between $(6.0) million and $(2.0) million, with a year-end forecast of $(41.3) million to $(37.3) million[36] - Forecasted non-GAAP net income for the three months ending December 31, 2025, is expected to range from $47.9 million to $51.9 million, with a year-end forecast of $185.0 million to $189.0 million[36] - The forecasted free cash flow for the year ending December 31, 2025, is projected to be between $238.2 million and $248.2 million[36] - Forecasted unlevered free cash flow for the year ending December 31, 2025, is estimated to be between $265.0 million and $275.0 million[36] Operating Expenses and Cash Flow - Total operating expenses for the nine months ended September 30, 2025, were $593,248,000, up from $535,892,000 in the same period of 2024[25] - Cash and cash equivalents decreased to $171,852,000 as of September 30, 2025, down from $328,647,000 at the end of 2024[27] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $183,720,000, compared to $136,357,000 in 2024[29] - Free cash flow for Q3 2025 was $51.6 million, slightly down from $52.7 million in Q3 2024[30] Stock and Compensation - Stock-based compensation for the nine months ended September 30, 2025, totaled $147,311,000, an increase from $122,801,000 in 2024[29] - Forecasted stock-based compensation for the three months ending December 31, 2025, is expected to be $44.6 million, with a year-end forecast of $191.9 million[36] Assets and Liabilities - Total assets as of September 30, 2025, were $1,652,622,000, a decrease from $1,742,119,000 at the end of 2024[27] - The company reported a decrease in deferred revenue to $639,614,000 as of September 30, 2025, from $650,372,000 at the end of 2024[27] - Remaining performance obligations as of September 30, 2025, totaled $928.9 million, reflecting a 20.4% increase from $771.6 million in 2024[30] - Business combinations in 2025 resulted in a cash outflow of $196,182,000, compared to $29,162,000 in 2024[29] New Initiatives - Launched Tenable AI Exposure, a solution for managing risks from generative AI[7] - Appointed Matthew Brown as Chief Financial Officer, enhancing leadership[7] Profitability Metrics - Non-GAAP gross profit for Q3 2025 was $206.0 million, an increase from $184.8 million in Q3 2024[34] - Non-GAAP operating margin improved to 23.3% in Q3 2025, compared to 19.8% in Q3 2024[32] - The forecasted diluted non-GAAP earnings per share for the three months ending December 31, 2025, is expected to range from $0.39 to $0.43, with a year-end forecast of $1.51 to $1.54[36] - The forecasted weighted-average shares used to compute non-GAAP earnings per share, diluted, is projected to be 121.5 million for the three months ending December 31, 2025[36]