Tenable Holdings Inc. (TENB)
Tenable Holdings (TENB) Q2 2024 Earnings Call Transcript
Tenable Holdings (NASDAQ:TENB ) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Erin Karney - VP, IR Amit Yoran - Chairman and CEO Stephen Vintz - CFO Jason Merrick - SVP, Products Conference Call Participants Saket Kalia - Barclays Brian Essex - JP Morgan Hamza Fodderwala - Morgan Stanley Robbie Owens - Piper Sandler Michael Cikos - Needham & Co. Joel Fishbein - Truist Securities Andrew Nowinski - Wells Fargo Jonathan Ho - William Blair Shaul Eyal - TD Cowen Gary Powell - BTIG Shrenik Kotari - Robert W. Baird Bed Rich Magnus - Wolfe Research Patrick Colville - Scotiabank Roger Boyd - UBS Operator Greetings, and welcome to Tenable Q2 2024 Earnings Conference Call.
Tenable (TENB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for Tenable (TENB) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Tenable (TENB) Beats Q2 Earnings and Revenue Estimates
Tenable (TENB) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.22 per share a year ago.
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According to Cybersecurity Ventures, cybercrime will cause a whopping $9.5 trillion in damage around the world this year. Artificial intelligence (AI) poses a significant threat to businesses, but it's also part of the solution.
2 Tech Stocks Heading in Opposite Directions So Far in 2024
Arm Holdings and Tenable are two technology companies with leading market shares, but their stock prices are moving in opposite directions. Arm Holdings' high forward P/E ratio is a reason for concern, whereas Tenable is getting closer to profitability.
Tenable: No Signs Of Weakness
Tenable's 1Q24 earnings beat expectations, with revenue of $216 million and strong profitability. The company's growth momentum remains strong, driven by demand in the enterprise market and the success of Tenable One. Tenable's valuation has been downgraded due to industry de-rating, but the company is expected to continue trading at a historical premium.
