Tenable Holdings Reports Strong Q3 2024 Growth

Tenable Holdings ( (TENB) ) has realeased its Q3 earnings. Here is a breakdown of the information Tenable Holdings presented to its investors.

Tenable Holdings is a cybersecurity company specializing in exposure management, offering AI-powered solutions to enhance security visibility and protect against cyber threats across various IT and cloud environments. In its third quarter earnings report for 2024, Tenable Holdings announced a revenue of $227.1 million, marking a 13% increase from the previous year, alongside a strong non-GAAP operating margin of 20%. The company highlighted the growing demand for its Cloud Security and Tenable One platforms as key contributors to its financial success.

Among the key financial metrics, Tenable reported a calculated current billings increase of 11% year-over-year to $248.4 million. The company also saw improvements in its net cash provided by operating activities, which rose to $54.6 million, and unlevered free cash flow, which reached $60.8 million. Additionally, Tenable expanded its stock repurchase program by $200 million, underscoring its commitment to return value to shareholders.

Tenable’s strategic advancements included the release of AI Aware for enhanced AI security, as well as new features like Vulnerability Intelligence and Exposure Response, aimed at providing actionable intelligence in IT and cloud environments. The company also introduced Tenable Enclave Security, catering to highly secure environments, and received recognition as a top performer in cloud security. These initiatives are expected to support continued growth and market leadership.

Looking ahead, Tenable’s management anticipates continued revenue growth, projecting a range of $229 million to $233 million for the fourth quarter of 2024. The company remains focused on enhancing its platform capabilities and expanding its market presence, positioning itself to address the evolving security needs of its global customer base.