The following is a summary of the Tenable Holdings (TENB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Tenable Holdings accrued Q1 revenue of $216 million, a 14% growth year-over-year.

• The company reported Calculated Current Billings (CCB) of $197.8 million, a 12% year-over-year increase.

• Income from operations was $37 million, considerably surpassing expectations.

• Earnings per share (EPS) reached $0.25, exceeding the projected midpoint by $0.08.

• The company successfully generated $54.7 million of unlevered free cash flow, up from $43.3 million in the prior quarter.

• Q2 revenue is expected to be between $217 million and $219 million, while the full-year CCB is set to fall in the range of $986 million and $994 million.

Business Progress:

• Tenable One contributed a significant 26% to total new enterprise sales, indicating positive growth.

• The company added 410 new enterprise platform customers, leading to nearly 30% year-over-year ACV growth.

• Future plans include aggressive innovation in exposure management, integrating AI capabilities into Tenable One.

• Tenable has made significant progress in the OT market and invested heavily in the VM business, leading to new customer acquisitions.

• AI functions embedded across all Tenable's products are set to enhance their offerings and competitiveness.

• Contributions from the recently acquired Ermetic remain minimal in Q1 but is expected to add incremental CCB growth in the future.

• Tenable is banking on AI for risk assessment, identity data enrichment, and asset vulnerability detection.

More details: Tenable Holdings IR

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