Tenable (TENB) Financials

$30.02 -0.09 (-0.30%)

Closing price 04:00 PM Eastern

Extended Trading

$30.02 0.00 (0.00%)

As of 07:39 PM Eastern

Annual Income Statements for Tenable

This table shows Tenable's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-38	-42	-74	-99	-43	-47	-92	-78	-36
Consolidated Net Income / (Loss)	-37	-41	-74	-99	-43	-47	-92	-78	-36
Net Income / (Loss) Continuing Operations	-37	-41	-74	-99	-43	-47	-92	-78	-36
Total Pre-Tax Income	-36	-41	-71	-86	-37	-51	-85	-67	-19
Total Operating Income	-36	-41	-73	-91	-36	-42	-68	-52	-6.86
Total Gross Profit	110	162	224	294	363	435	528	615	700
Total Revenue	124	188	267	355	440	541	683	799	900
Operating Revenue	124	188	267	355	440	541	683	799	900
Total Cost of Revenue	14	26	43	61	78	106	155	184	200
Operating Cost of Revenue	14	26	43	61	78	106	155	184	200
Total Operating Expenses	146	203	297	385	399	477	596	667	707
Selling, General & Admin Expense	20	29	47	69	73	90	103	116	124
Marketing Expense	86	116	173	228	224	270	349	393	395
Research & Development Expense	40	58	77	87	102	116	144	153	182
Restructuring Charge	-	-	-	-	-	0.00	0.00	4.50	6.07
Total Other Income / (Expense), net	-0.53	-0.09	1.42	5.15	-0.64	-8.86	-17	-15	-12
Interest Expense	-	0.08	-2.36	-5.83	0.50	7.50	19	31	32
Interest & Investment Income	-	-	-	-	1.74	0.61	6.28	25	23
Other Income / (Expense), net	-	-0.02	-0.93	-0.68	-1.89	-1.97	-4.76	-8.60	-3.44
Income Tax Expense	0.84	0.17	2.36	13	5.66	-3.95	6.93	11	17
Basic Earnings per Share	($1.81)	($1.88)	($1.38)	($1.03)	($0.42)	($0.44)	($0.83)	($0.68)	($0.31)
Weighted Average Basic Shares Outstanding	20.97M	22.21M	53.67M	96.01M	101.01M	106.39M	111.32M	115.41M	118.79M
Diluted Earnings per Share	($1.81)	($1.88)	($1.38)	($1.03)	($0.42)	($0.44)	($0.83)	($0.68)	($0.31)
Weighted Average Diluted Shares Outstanding	20.97M	22.21M	53.67M	96.01M	101.01M	106.39M	111.32M	115.41M	118.79M
Weighted Average Basic & Diluted Shares Outstanding	20.97M	22.21M	53.67M	96.01M	101.01M	109.78M	113.65M	118.12M	120.30M

This table shows Tenable's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-19	-21	-25	-16	-16	-22	-14	-15	-9.21	1.87	-23
Consolidated Net Income / (Loss)	-19	-21	-25	-16	-16	-22	-14	-15	-9.21	1.87	-23
Net Income / (Loss) Continuing Operations	-19	-21	-25	-16	-16	-22	-14	-15	-9.21	1.87	-23
Total Pre-Tax Income	-18	-17	-22	-13	-15	-18	-13	-11	-3.88	8.55	-19
Total Operating Income	-13	-14	-19	-11	-7.91	-14	-8.93	-8.82	-2.08	13	-18
Total Gross Profit	136	139	143	152	156	165	167	172	177	184	187
Total Revenue	175	185	189	195	202	213	216	221	227	236	239
Operating Revenue	175	185	189	195	202	213	216	221	227	236	239
Total Cost of Revenue	39	45	46	44	46	49	49	49	50	51	52
Operating Cost of Revenue	39	45	46	44	46	49	49	49	50	51	52
Total Operating Expenses	149	153	162	162	164	179	176	181	179	171	204
Selling, General & Admin Expense	25	25	27	27	32	31	31	30	32	31	48
Marketing Expense	88	91	97	98	95	104	100	101	99	95	103
Research & Development Expense	36	37	38	38	37	40	44	45	48	45	53
Restructuring Charge	-	-	0.00	0.00	0.00	4.50	1.39	4.68	0.00	-	0.00
Total Other Income / (Expense), net	-5.35	-3.09	-2.79	-2.13	-6.96	-3.36	-3.80	-2.01	-1.80	-4.43	-1.61
Interest Expense	5.08	6.76	7.34	7.75	8.12	8.13	8.11	8.07	8.15	7.59	7.01
Interest & Investment Income	1.80	3.54	5.10	6.57	7.66	5.38	5.62	5.97	5.99	5.74	4.93
Other Income / (Expense), net	-2.07	0.12	-0.55	-0.94	-6.50	-0.61	-1.31	0.09	0.36	-2.58	0.47
Income Tax Expense	0.42	4.30	3.15	3.10	0.69	3.94	1.66	3.75	5.33	6.68	3.61
Basic Earnings per Share	($0.17)	($0.19)	($0.22)	($0.14)	($0.13)	($0.19)	($0.12)	($0.12)	($0.08)	$0.01	($0.19)
Weighted Average Basic Shares Outstanding	111.94M	111.32M	113.79M	115.13M	115.95M	115.41M	117.54M	118.68M	119.17M	118.79M	120.08M
Diluted Earnings per Share	($0.17)	($0.19)	($0.22)	($0.14)	($0.13)	($0.19)	($0.12)	($0.12)	($0.08)	$0.01	($0.19)
Weighted Average Diluted Shares Outstanding	111.94M	111.32M	113.79M	115.13M	115.95M	115.41M	117.54M	118.68M	119.17M	118.79M	120.08M
Weighted Average Basic & Diluted Shares Outstanding	112.51M	113.65M	114.83M	115.64M	116.93M	118.12M	118.87M	119.11M	120.14M	120.30M	122.17M

This table details how cash moves in and out of Tenable's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-9.27	-7.00	138	-91	104	100	23	-64	92
Net Cash From Operating Activities	-2.79	-6.27	-2.56	-11	64	97	131	150	217
Net Cash From Continuing Operating Activities	-2.79	-6.27	-2.56	-11	64	97	131	150	217
Net Income / (Loss) Continuing Operations	-37	-41	-74	-99	-43	-47	-92	-78	-36
Consolidated Net Income / (Loss)	-37	-41	-74	-99	-43	-47	-92	-78	-36
Depreciation Expense	3.06	4.69	6.19	6.88	11	16	22	27	33
Amortization Expense	-	-	-	-	-	1.48	0.10	-7.06	-6.24
Non-Cash Adjustments To Reconcile Net Income	3.49	7.89	23	41	61	82	123	153	173
Changes in Operating Assets and Liabilities, net	28	22	41	41	36	44	78	55	54
Net Cash From Investing Activities	-7.85	-2.76	-123	-113	4.08	-392	-128	-213	-41
Net Cash From Continuing Investing Activities	-7.85	-2.76	-123	-113	4.08	-392	-128	-213	-41
Purchase of Property, Plant & Equipment	-5.78	-2.76	-5.73	-21	-20	-6.56	-19	-8.76	-11
Acquisitions	-2.08	0.00	0.00	-75	-0.28	-258	-67	-243	-29
Purchase of Investments	0.00	0.00	-117	-242	-185	-287	-277	-278	-289
Sale and/or Maturity of Investments	-	0.00	0.00	225	209	161	235	318	287
Net Cash From Financing Activities	1.36	2.09	265	34	36	398	23	1.25	-79
Net Cash From Continuing Financing Activities	1.36	2.09	265	34	36	398	23	1.25	-79
Repayment of Debt	0.00	-0.24	-1.44	-0.02	1.65	-9.36	-3.19	-3.54	-3.75
Repurchase of Common Equity	-0.09	-0.39	-4.01	-	-	0.00	0.00	-15	-100
Issuance of Common Equity	0.00	0.00	269	15	13	14	15	16	16
Other Financing Activities, net	1.45	2.71	1.67	19	22	18	12	3.50	8.06
Effect of Exchange Rate Changes	-	-0.07	-1.06	-1.08	-0.92	-3.01	-3.84	-2.23	-5.13
Cash Interest Paid	0.01	0.08	0.11	0.10	0.34	4.98	16	34	31
Cash Income Taxes Paid	0.31	0.64	1.21	8.53	5.73	6.48	11	8.98	15

This table details how cash moves in and out of Tenable's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	20	12	60	16	69	-208	23	-27	79	16	-95
Net Cash From Operating Activities	36	32	39	30	42	39	50	31	55	81	87
Net Cash From Continuing Operating Activities	36	32	39	30	42	39	50	31	55	81	87
Net Income / (Loss) Continuing Operations	-19	-21	-25	-16	-16	-22	-14	-15	-9.21	1.87	-23
Consolidated Net Income / (Loss)	-19	-21	-25	-16	-16	-22	-14	-15	-9.21	1.87	-23
Depreciation Expense	5.77	6.28	6.37	6.26	6.28	8.21	8.23	7.63	8.57	8.78	9.85
Amortization Expense	-	-	-1.25	-1.73	-1.99	-2.09	-1.96	-1.76	-1.42	-1.10	-0.83
Non-Cash Adjustments To Reconcile Net Income	34	31	34	38	43	38	41	46	42	43	57
Changes in Operating Assets and Liabilities, net	15	16	25	3.29	10	17	17	-6.37	14	28	44
Net Cash From Investing Activities	-21	-20	11	-14	22	-232	-12	-33	17	-14	-132
Net Cash From Continuing Investing Activities	-21	-20	11	-14	22	-232	-12	-33	17	-14	-132
Purchase of Property, Plant & Equipment	-4.35	-5.24	-1.41	-2.50	-2.10	-2.75	-3.20	-2.76	-1.90	-2.84	-7.18
Acquisitions	-	0.23	-	-	-	-243	-	-	-	-	-149
Purchase of Investments	-71	-86	-49	-99	-70	-61	-77	-83	-68	-61	-38
Sale and/or Maturity of Investments	54	71	61	87	94	75	69	82	87	49	62
Net Cash From Financing Activities	6.95	0.12	9.79	0.08	6.17	-15	-14	-24	6.11	-48	-51
Net Cash From Continuing Financing Activities	6.95	0.12	9.79	0.08	6.17	-15	-14	-24	6.11	-48	-51
Repayment of Debt	-0.94	-0.37	-1.07	-0.94	-1.02	-0.51	-0.94	-0.94	-0.94	-0.94	-0.94
Repurchase of Common Equity	-	-	0.00	-	-	-15	-25	-25	-	-50	-60
Issuance of Common Equity	5.91	-	9.91	-	6.31	-	9.88	-0.01	6.38	-	9.70
Other Financing Activities, net	1.98	1.07	0.94	0.60	0.88	1.08	1.87	2.26	0.66	3.27	0.35
Effect of Exchange Rate Changes	-1.81	0.44	-0.11	-0.92	-1.53	0.34	-1.73	-1.35	0.64	-2.69	0.40
Cash Interest Paid	3.25	5.43	6.82	12	7.84	7.54	7.61	7.84	8.06	7.47	6.57
Cash Income Taxes Paid	1.76	2.95	3.23	-1.00	3.93	2.82	2.99	2.75	4.34	5.11	2.36

This table presents Tenable's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	164	461	559	691	1,249	1,440	1,607	1,742
Total Current Assets	111	397	363	484	749	857	805	941
Cash & Equivalents	27	165	74	178	278	301	237	329
Short-Term Investments	0.00	118	138	114	234	267	237	249
Accounts Receivable	51	68	95	115	137	187	220	259
Prepaid Expenses	16	22	27	44	60	58	62	53
Other Current Assets	17	23	28	32	40	44	50	52
Plant, Property, & Equipment, net	11	11	27	39	37	47	45	39
Total Noncurrent Assets	42	52	169	168	463	536	756	762
Goodwill	-	0.27	54	54	262	317	519	541
Intangible Assets	-	0.43	16	13	72	75	107	94
Other Noncurrent Operating Assets	42	52	99	100	129	144	130	126
Total Liabilities & Shareholders' Equity	164	461	559	691	1,249	1,440	1,607	1,742
Total Liabilities	258	339	460	540	1,034	1,169	1,261	1,342
Total Current Liabilities	180	254	328	375	484	584	676	738
Accounts Payable	0.34	0.17	10	5.73	16	19	17	20
Current Deferred Revenue	155	214	274	329	407	502	581	650
Current Employee Benefit Liabilities	18	30	37	36	54	53	66	56
Other Current Liabilities	1.75	5.34	6.49	4.84	6.08	11	12	12
Total Noncurrent Liabilities	78	85	132	165	550	585	585	604
Long-Term Debt	-	-	-	-	365	362	359	357
Noncurrent Deferred Revenue	71	76	89	106	123	162	170	183
Other Noncurrent Operating Liabilities	7.00	8.29	43	59	62	60	56	65
Total Equity & Noncontrolling Interests	-372	122	99	151	215	271	346	400
Total Preferred & Common Equity	-372	122	99	151	215	271	346	400
Total Common Equity	-372	122	99	151	215	271	346	400
Common Stock	21	588	664	759	870	1,019	1,186	1,376
Retained Earnings	-393	-466	-565	-608	-655	-747	-825	-861
Treasury Stock	-	-	-	-	-	0.00	-15	-115
Accumulated Other Comprehensive Income / (Loss)	-	0.00	0.05	0.01	-0.31	-1.35	0.04	0.32

This table presents Tenable's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	1,350	1,423	1,466	1,524	1,567	1,576	1,634	1,694
Total Current Assets	786	851	900	971	783	775	844	746
Cash & Equivalents	288	360	376	445	260	233	312	233
Short-Term Investments	260	256	269	248	251	254	236	227
Accounts Receivable	148	124	154	179	157	180	193	168
Prepaid Expenses	49	66	55	53	66	59	53	67
Other Current Assets	41	44	45	46	49	49	50	51
Plant, Property, & Equipment, net	46	45	45	44	46	41	40	41
Total Noncurrent Assets	518	527	521	509	739	760	751	906
Goodwill	317	317	317	317	519	541	541	656
Intangible Assets	78	72	69	66	102	104	99	129
Other Noncurrent Operating Assets	123	138	136	127	118	114	110	121
Total Liabilities & Shareholders' Equity	1,350	1,423	1,466	1,524	1,567	1,576	1,634	1,694
Total Liabilities	1,090	1,132	1,151	1,181	1,208	1,213	1,230	1,310
Total Current Liabilities	521	560	577	601	635	638	657	715
Accounts Payable	26	22	25	27	18	20	18	18
Current Deferred Revenue	448	490	495	518	563	563	584	633
Current Employee Benefit Liabilities	37	37	45	45	44	44	43	51
Other Current Liabilities	9.69	11	12	11	11	12	12	13
Total Noncurrent Liabilities	569	572	574	580	573	575	573	595
Long-Term Debt	363	361	361	360	359	358	357	356
Noncurrent Deferred Revenue	146	152	155	163	160	163	164	175
Other Noncurrent Operating Liabilities	60	58	59	57	54	53	52	64
Total Equity & Noncontrolling Interests	260	292	315	344	359	364	405	383
Total Preferred & Common Equity	260	292	315	344	359	364	405	383
Total Common Equity	260	292	315	344	359	364	405	383
Common Stock	987	1,064	1,103	1,148	1,238	1,283	1,332	1,442
Retained Earnings	-725	-772	-788	-803	-839	-854	-863	-884
Treasury Stock	-	-	-	-	-40	-65	-65	-175
Accumulated Other Comprehensive Income / (Loss)	-1.87	-0.67	-0.70	-0.54	-0.19	-0.27	0.95	0.33

This table displays calculated financial ratios and metrics derived from Tenable's official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	50.94%	42.42%	32.62%	24.15%	22.92%	26.25%	16.91%	12.68%
EBITDA Growth	0.00%	-10.10%	-86.56%	-25.67%	67.28%	5.80%	-92.79%	19.03%	140.96%
EBIT Growth	0.00%	-13.79%	-80.28%	-24.44%	58.11%	-14.13%	-65.94%	16.27%	83.06%
NOPAT Growth	0.00%	-13.75%	-78.07%	-25.10%	59.88%	-14.64%	-62.36%	23.08%	86.86%
Net Income Growth	0.00%	-10.25%	-79.22%	-34.67%	56.84%	-9.23%	-97.57%	15.11%	53.63%
EPS Growth	0.00%	-3.87%	26.60%	25.36%	59.22%	-4.76%	-88.64%	18.07%	54.41%
Operating Cash Flow Growth	0.00%	-124.99%	59.16%	-319.85%	697.84%	50.65%	35.54%	14.26%	45.12%
Free Cash Flow Firm Growth	0.00%	0.00%	-111.31%	-966.09%	102.07%	-10,384.02%	81.05%	-349.36%	123.37%
Invested Capital Growth	0.00%	0.00%	-33.29%	29.79%	-24.54%	147.99%	-3.47%	254.20%	-22.53%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	6.56%	5.02%	6.06%	5.50%	3.72%	2.56%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-9.13%	49.59%	-50.90%	1.65%	-17.69%	262.95%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-9.24%	41.21%	-40.81%	-0.69%	-1.65%	71.13%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-9.61%	42.40%	-40.96%	-1.84%	-0.50%	79.94%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-23.27%	45.98%	-24.25%	-12.77%	-0.21%	39.31%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-212.12%	47.50%	-29.41%	-10.67%	0.00%	39.22%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	60.37%	-16.45%	48.60%	4.35%	8.21%	4.60%	24.37%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	102.90%	-238.93%	78.47%	-835.96%	120.90%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	34.64%	-2.32%	176.60%	-12.24%	2,077.19%	-15.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	88.57%	86.37%	83.85%	82.85%	82.38%	80.34%	77.34%	77.02%	77.82%
EBITDA Margin	-26.35%	-19.22%	-25.18%	-23.86%	-6.29%	-4.82%	-7.36%	-5.10%	1.85%
Operating Margin	-28.81%	-21.71%	-27.15%	-25.61%	-8.28%	-7.72%	-9.93%	-6.53%	-0.76%
EBIT Margin	-28.81%	-21.72%	-27.50%	-25.80%	-8.70%	-8.08%	-10.62%	-7.61%	-1.14%
Profit (Net Income) Margin	-29.92%	-21.85%	-27.50%	-27.92%	-9.71%	-8.63%	-13.50%	-9.80%	-4.03%
Tax Burden Percent	102.32%	100.42%	103.32%	115.60%	115.26%	92.19%	108.13%	116.15%	192.21%
Interest Burden Percent	101.48%	100.18%	96.80%	93.63%	96.75%	115.77%	117.52%	110.93%	183.52%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-71.30%	-24.58%	-2.33%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-45.95%	1.51%	16.46%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.37%	-0.78%	-7.39%
Return on Equity (ROE)	0.00%	43.67%	-528.30%	-89.74%	-34.24%	-25.51%	-37.94%	-25.37%	-9.73%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-351.54%	-67.78%	-136.52%	23.05%
Operating Return on Assets (OROA)	0.00%	-24.81%	-23.53%	-17.95%	-6.13%	-4.51%	-5.40%	-3.99%	-0.61%
Return on Assets (ROA)	0.00%	-24.96%	-23.53%	-19.43%	-6.84%	-4.81%	-6.86%	-5.14%	-2.17%
Return on Common Equity (ROCE)	0.00%	172.81%	4,743.41%	-89.74%	-34.24%	-25.51%	-37.94%	-25.37%	-9.73%
Return on Equity Simple (ROE_SIMPLE)	0.00%	11.04%	-60.38%	-100.11%	-28.36%	-21.68%	-34.05%	-22.60%	-9.08%
Net Operating Profit after Tax (NOPAT)	-25	-29	-51	-64	-26	-29	-47	-37	-4.80
NOPAT Margin	-20.17%	-15.20%	-19.00%	-17.92%	-5.79%	-5.40%	-6.95%	-4.57%	-0.53%
Net Nonoperating Expense Percent (NNEP)	0.00%	-91.80%	-14.63%	-14.31%	-6.83%	-7.94%	-25.35%	-26.09%	-18.80%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-7.50%	-5.17%	-0.63%
Cost of Revenue to Revenue	11.43%	13.63%	16.15%	17.15%	17.62%	19.66%	22.66%	22.98%	22.18%
SG&A Expenses to Revenue	16.21%	15.41%	17.48%	19.59%	16.61%	16.62%	15.11%	14.55%	13.79%
R&D to Revenue	32.23%	30.72%	28.69%	24.55%	23.10%	21.52%	21.01%	19.18%	20.18%
Operating Expenses to Revenue	117.38%	108.08%	111.00%	108.46%	90.66%	88.06%	87.27%	83.55%	78.58%
Earnings before Interest and Taxes (EBIT)	-36	-41	-74	-91	-38	-44	-73	-61	-10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-33	-36	-67	-85	-28	-26	-50	-41	17
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	16.96	23.79	35.77	27.48	15.85	15.55	11.83
Price to Tangible Book Value (P/TBV)	0.00	0.00	17.06	80.41	64.88	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.02	1.34	7.72	6.63	12.24	10.93	6.28	6.74	5.26
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	85.16	62.49	22.76	25.13
Enterprise Value to Revenue (EV/Rev)	0.00	2.67	6.66	6.04	11.58	10.66	5.98	6.60	5.01
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	270.48
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	79.35	59.62	31.16	35.18	20.74
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	5.41	0.00	0.00	2,200.86	0.00	0.00	0.00	95.18
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	1.69	1.34	1.04	0.89
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	1.69	1.34	1.04	0.89
Financial Leverage	0.00	0.29	-11.15	-2.25	-2.02	-1.20	-0.73	-0.52	-0.45
Leverage Ratio	0.00	-1.75	22.45	4.62	5.01	5.30	5.53	4.94	4.49
Compound Leverage Factor	0.00	-1.75	21.73	4.32	4.84	6.13	6.50	5.48	8.24
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	62.88%	57.20%	50.92%	47.14%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	62.88%	57.20%	50.92%	47.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	-295.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	395.68%	100.00%	100.00%	100.00%	37.12%	42.80%	49.08%	52.86%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-13.99	-7.20	-8.83	21.39
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	5.66	4.09	2.82	-13.22
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-13.99	-7.20	-8.83	21.39
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-12.47	-7.63	-9.84	-74.33
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	5.05	4.33	3.14	45.94
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-12.47	-7.63	-9.84	-74.33
Altman Z-Score	0.00	-2.94	2.67	1.82	5.40	3.27	2.01	2.31	2.06
Noncontrolling Interest Sharing Ratio	0.00%	-295.68%	997.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.62	1.56	1.11	1.29	1.55	1.47	1.19	1.27
Quick Ratio	0.00	0.43	1.38	0.94	1.09	1.34	1.29	1.03	1.13
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	93	-10	-112	2.32	-238	-45	-203	47
Operating Cash Flow to CapEx	-48.22%	-227.44%	-44.64%	-51.97%	316.77%	1,474.85%	684.93%	1,711.46%	2,032.87%
Free Cash Flow to Firm to Interest Expense	0.00	1,234.77	0.00	0.00	4.67	-31.75	-2.37	-6.47	1.48
Operating Cash Flow to Interest Expense	0.00	-83.55	0.00	0.00	129.50	12.90	6.90	4.78	6.81
Operating Cash Flow Less CapEx to Interest Expense	0.00	-120.28	0.00	0.00	88.62	12.02	5.89	4.50	6.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	1.14	0.86	0.70	0.70	0.56	0.51	0.52	0.54
Accounts Receivable Turnover	0.00	3.69	4.49	4.35	4.19	4.30	4.22	3.92	3.76
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	17.46	24.19	18.57	13.39	14.29	16.35	17.33	21.25
Accounts Payable Turnover	0.00	75.70	169.61	11.76	9.76	9.68	8.85	10.30	10.82
Days Sales Outstanding (DSO)	0.00	98.93	81.33	83.94	87.13	84.97	86.53	93.09	97.09
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	4.82	2.15	31.02	37.41	37.71	41.24	35.45	33.75
Cash Conversion Cycle (CCC)	0.00	94.11	79.17	52.91	49.72	47.26	45.30	57.63	63.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-121	-161	-113	-141	68	65	232	179
Invested Capital Turnover	0.00	-3.10	-1.89	-2.58	-3.46	-14.74	10.26	5.38	4.38
Increase / (Decrease) in Invested Capital	0.00	-121	-40	48	-28	209	-2.35	166	-52
Enterprise Value (EV)	0.00	501	1,782	2,140	5,097	5,769	4,087	5,271	4,510
Market Capitalization	251	251	2,065	2,353	5,389	5,917	4,292	5,386	4,731
Book Value per Share	$0.00	($16.73)	$1.31	$1.01	$1.46	$2.00	$2.43	$2.96	$3.33
Tangible Book Value per Share	$0.00	($16.73)	$1.30	$0.30	$0.81	($1.10)	($1.09)	($2.39)	($1.96)
Total Capital	0.00	-94	122	99	151	580	633	706	757
Total Debt	0.00	0.00	0.00	0.00	0.00	365	362	359	357
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	365	362	359	357
Net Debt	0.00	-27	-283	-212	-292	-148	-205	-115	-220
Capital Expenditures (CapEx)	5.78	2.76	5.73	21	20	6.56	19	8.76	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-96	-141	-177	-183	-247	-294	-344	-375
Debt-free Net Working Capital (DFNWC)	0.00	-69	142	35	109	266	273	130	203
Net Working Capital (NWC)	0.00	-69	142	35	109	266	273	130	203
Net Nonoperating Expense (NNE)	12	12	23	35	17	17	45	42	32
Net Nonoperating Obligations (NNO)	0.00	-27	-283	-212	-292	-148	-205	-115	-220
Total Depreciation and Amortization (D&A)	3.06	4.69	6.19	6.88	11	18	22	20	27
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-51.30%	-52.64%	-49.90%	-41.56%	-45.60%	-43.10%	-43.11%	-41.61%
Debt-free Net Working Capital to Revenue	0.00%	-36.80%	53.29%	9.96%	24.74%	49.07%	39.96%	16.23%	22.52%
Net Working Capital to Revenue	0.00%	-36.80%	53.29%	9.96%	24.74%	49.07%	39.96%	16.23%	22.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($0.44)	($0.83)	($0.68)	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	106.39M	111.32M	115.41M	118.79M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($0.44)	($0.83)	($0.68)	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	106.39M	111.32M	115.41M	118.79M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	109.78M	113.65M	118.12M	120.30M
Normalized Net Operating Profit after Tax (NOPAT)	-25	-29	-51	-64	-26	-29	-47	-33	-0.55
Normalized NOPAT Margin	-20.17%	-15.20%	-19.00%	-17.92%	-5.79%	-5.40%	-6.95%	-4.18%	-0.06%
Pre Tax Income Margin	-29.24%	-21.76%	-26.61%	-24.15%	-8.42%	-9.36%	-12.48%	-8.44%	-2.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-543.68	0.00	0.00	-77.25	-5.83	-3.82	-1.94	-0.32
NOPAT to Interest Expense	0.00	-380.43	0.00	0.00	-51.42	-3.90	-2.50	-1.17	-0.15
EBIT Less CapEx to Interest Expense	0.00	-580.41	0.00	0.00	-118.14	-6.70	-4.83	-2.22	-0.66
NOPAT Less CapEx to Interest Expense	0.00	-417.16	0.00	0.00	-92.30	-4.77	-3.51	-1.44	-0.49
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.23%	-0.94%	-5.45%	0.00%	0.00%	0.00%	0.00%	-19.08%	-275.41%

This table displays calculated financial ratios and metrics derived from Tenable's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.10%	23.90%	18.49%	18.68%	15.26%	15.53%	14.36%	13.44%	12.68%	10.51%	10.73%
EBITDA Growth	-19.88%	8.81%	-7.27%	63.90%	-9.32%	-15.07%	72.83%	60.15%	153.58%	304.38%	-107.27%
EBIT Growth	-24.83%	-3.67%	-6.55%	53.40%	4.10%	-7.08%	48.03%	25.36%	88.04%	169.53%	-68.33%
NOPAT Growth	-15.51%	-9.50%	-9.16%	53.73%	38.93%	-1.82%	53.38%	17.93%	73.68%	128.23%	-98.33%
Net Income Growth	-15.29%	-94.54%	-2.41%	41.91%	16.90%	-0.75%	42.68%	8.78%	40.82%	108.63%	-59.43%
EPS Growth	-13.33%	-72.73%	0.00%	44.00%	23.53%	0.00%	45.45%	14.29%	38.46%	105.26%	-58.33%
Operating Cash Flow Growth	82.62%	45.27%	17.91%	-1.06%	18.29%	20.64%	29.89%	4.08%	28.76%	110.67%	73.68%
Free Cash Flow Firm Growth	-199.83%	96.55%	106.21%	129.08%	133.91%	-2,246.12%	-1,259.70%	-499.18%	-450.09%	131.21%	52.17%
Invested Capital Growth	184.25%	-3.47%	-44.13%	-67.09%	-85.72%	254.20%	470.02%	691.68%	1,906.02%	-22.53%	34.89%
Revenue Q/Q Growth	6.40%	5.59%	2.28%	3.28%	3.33%	5.84%	1.24%	2.44%	2.64%	3.81%	1.44%
EBITDA Q/Q Growth	53.32%	17.04%	-89.82%	50.90%	-41.38%	12.67%	41.26%	27.98%	290.05%	233.13%	-145.46%
EBIT Q/Q Growth	40.08%	7.09%	-41.08%	40.67%	-23.32%	-3.75%	31.53%	14.79%	80.24%	703.13%	-265.77%
NOPAT Q/Q Growth	44.19%	-8.73%	-35.96%	43.91%	26.36%	-81.30%	37.75%	1.25%	76.38%	294.44%	-537.29%
Net Income Q/Q Growth	31.89%	-14.72%	-16.80%	36.35%	2.56%	-39.08%	33.55%	-1.29%	36.79%	120.28%	-1,327.78%
EPS Q/Q Growth	32.00%	-11.76%	-15.79%	36.36%	7.14%	-46.15%	36.84%	0.00%	33.33%	112.50%	-2,000.00%
Operating Cash Flow Q/Q Growth	17.48%	-10.98%	21.39%	-22.07%	40.47%	-9.21%	30.70%	-37.56%	73.77%	48.55%	7.75%
Free Cash Flow Firm Q/Q Growth	5.40%	95.63%	302.85%	246.90%	10.34%	-402.16%	-0.27%	-19.41%	3.23%	126.94%	-253.66%
Invested Capital Q/Q Growth	-17.22%	-12.24%	-44.53%	-18.34%	-64.08%	2,077.19%	-10.73%	13.41%	-8.99%	-15.92%	55.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.93%	75.50%	75.90%	77.69%	77.30%	77.12%	77.34%	77.94%	77.76%	78.18%	78.06%
EBITDA Margin	-5.30%	-4.16%	-7.72%	-3.67%	-5.02%	-4.14%	-1.84%	-1.29%	2.39%	7.67%	-3.43%
Operating Margin	-7.41%	-7.63%	-10.14%	-5.51%	-3.93%	-6.73%	-4.14%	-3.99%	-0.92%	5.50%	-7.41%
EBIT Margin	-8.60%	-7.56%	-10.43%	-5.99%	-7.15%	-7.01%	-4.74%	-3.94%	-0.76%	4.41%	-7.21%
Profit (Net Income) Margin	-10.71%	-11.64%	-13.29%	-8.19%	-7.72%	-10.15%	-6.66%	-6.59%	-4.06%	0.79%	-9.59%
Tax Burden Percent	102.29%	125.05%	114.35%	124.09%	104.66%	122.24%	113.03%	134.63%	237.21%	21.85%	118.71%
Interest Burden Percent	121.81%	123.03%	111.39%	110.13%	103.17%	118.42%	124.30%	124.06%	225.23%	82.22%	112.09%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	78.15%	0.00%
Return on Invested Capital (ROIC)	0.00%	-54.82%	-100.00%	-47.92%	-49.70%	-25.32%	-19.67%	-18.00%	-5.03%	5.27%	-19.71%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-48.23%	-94.40%	-44.01%	-45.84%	-18.07%	-15.68%	-13.94%	-2.07%	5.84%	-11.49%
Return on Net Nonoperating Assets (RNNOA)	0.00%	35.02%	75.98%	34.47%	39.37%	9.37%	9.82%	8.51%	1.45%	-2.62%	3.97%
Return on Equity (ROE)	-35.72%	-19.79%	-24.02%	-13.45%	-10.34%	-15.95%	-9.85%	-9.49%	-3.58%	2.64%	-15.74%
Cash Return on Invested Capital (CROIC)	-281.24%	-67.78%	-39.41%	34.33%	64.70%	-136.52%	-164.45%	-176.34%	-202.36%	23.05%	-34.21%
Operating Return on Assets (OROA)	-4.44%	-3.84%	-5.59%	-3.25%	-3.83%	-3.68%	-2.62%	-2.21%	-0.42%	2.37%	-4.08%
Return on Assets (ROA)	-5.53%	-5.92%	-7.12%	-4.44%	-4.14%	-5.32%	-3.68%	-3.69%	-2.25%	0.43%	-5.43%
Return on Common Equity (ROCE)	-35.72%	-19.79%	-24.02%	-13.45%	-10.34%	-15.95%	-9.85%	-9.49%	-3.58%	2.64%	-15.74%
Return on Equity Simple (ROE_SIMPLE)	-31.47%	0.00%	-31.82%	-25.84%	-22.73%	0.00%	-18.83%	-18.20%	-14.79%	0.00%	-11.71%
Net Operating Profit after Tax (NOPAT)	-9.07	-9.86	-13	-7.52	-5.54	-10	-6.25	-6.17	-1.46	2.84	-12
NOPAT Margin	-5.19%	-5.34%	-7.10%	-3.86%	-2.75%	-4.71%	-2.89%	-2.79%	-0.64%	1.20%	-5.18%
Net Nonoperating Expense Percent (NNEP)	-4.09%	-6.59%	-5.60%	-3.91%	-3.87%	-7.25%	-3.99%	-4.06%	-2.96%	-0.58%	-8.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.56%	-	-	-	-1.42%	-	-	-	0.37%	-1.68%
Cost of Revenue to Revenue	22.07%	24.50%	24.10%	22.31%	22.70%	22.88%	22.66%	22.06%	22.24%	21.82%	21.94%
SG&A Expenses to Revenue	14.28%	13.68%	14.36%	13.65%	15.82%	14.33%	14.36%	13.70%	13.90%	13.25%	20.07%
R&D to Revenue	20.66%	19.99%	20.22%	19.40%	18.39%	18.79%	20.25%	20.41%	21.15%	18.97%	22.26%
Operating Expenses to Revenue	85.35%	83.13%	86.05%	83.20%	81.22%	83.85%	81.48%	81.93%	78.68%	72.67%	85.47%
Earnings before Interest and Taxes (EBIT)	-15	-14	-20	-12	-14	-15	-10	-8.73	-1.72	10	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-9.26	-7.68	-15	-7.16	-10	-8.84	-3.96	-2.85	5.42	18	-8.21
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	14.95	15.85	18.51	15.90	15.07	15.55	16.10	14.25	11.93	11.83	10.98
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	6.00	6.28	7.58	6.73	6.73	6.74	7.00	6.08	5.50	5.26	4.56
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	49.65	62.49	141.79	159.20	455.60	22.76	27.21	21.54	21.72	25.13	14.71
Enterprise Value to Revenue (EV/Rev)	5.71	5.98	7.22	6.34	6.30	6.60	6.81	5.93	5.28	5.01	4.45
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	270.48	330.30
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	30.53	31.16	37.54	34.50	33.84	35.18	34.86	31.05	26.51	20.74	16.12
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	229.65	175.95	0.00	0.00	0.00	0.00	95.18	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.40	1.34	1.24	1.15	1.05	1.04	1.00	0.98	0.88	0.89	0.93
Long-Term Debt to Equity	1.40	1.34	1.24	1.15	1.05	1.04	1.00	0.98	0.88	0.89	0.93
Financial Leverage	-1.03	-0.73	-0.80	-0.78	-0.86	-0.52	-0.63	-0.61	-0.70	-0.45	-0.35
Leverage Ratio	5.48	5.53	5.13	4.96	4.76	4.94	4.60	4.49	4.22	4.49	4.39
Compound Leverage Factor	6.67	6.80	5.72	5.47	4.91	5.84	5.71	5.57	9.51	3.69	4.92
Debt to Total Capital	58.26%	57.20%	55.33%	53.41%	51.16%	50.92%	49.98%	49.61%	46.90%	47.14%	48.17%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	58.26%	57.20%	55.33%	53.41%	51.16%	50.92%	49.98%	49.61%	46.90%	47.14%	48.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.74%	42.80%	44.67%	46.59%	48.84%	49.08%	50.02%	50.39%	53.10%	52.86%	51.83%
Debt to EBITDA	-7.09	-7.20	-7.21	-10.10	-10.41	-8.83	-11.92	-13.88	-34.92	21.39	28.66
Net Debt to EBITDA	3.63	4.09	5.10	7.98	9.63	2.82	5.06	5.00	18.67	-13.22	-8.39
Long-Term Debt to EBITDA	-7.09	-7.20	-7.21	-10.10	-10.41	-8.83	-11.92	-13.88	-34.92	21.39	28.66
Debt to NOPAT	-7.78	-7.63	-7.43	-9.05	-9.91	-9.84	-12.22	-12.78	-14.94	-74.33	-32.53
Net Debt to NOPAT	3.98	4.33	5.26	7.15	9.17	3.14	5.18	4.61	7.99	45.94	9.52
Long-Term Debt to NOPAT	-7.78	-7.63	-7.43	-9.05	-9.91	-9.84	-12.22	-12.78	-14.94	-74.33	-32.53
Altman Z-Score	2.07	2.15	2.80	2.60	2.66	2.41	2.74	2.43	2.29	2.10	1.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.51	1.47	1.52	1.56	1.62	1.19	1.23	1.21	1.28	1.27	1.04
Quick Ratio	1.34	1.29	1.32	1.39	1.45	1.03	1.05	1.04	1.13	1.13	0.88
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-172	-7.51	15	53	58	-176	-177	-211	-204	55	-85
Operating Cash Flow to CapEx	824.78%	609.35%	2,747.94%	1,207.24%	2,024.39%	1,400.18%	1,574.16%	1,138.14%	2,880.12%	2,852.29%	1,217.88%
Free Cash Flow to Firm to Interest Expense	-33.85	-1.11	2.08	6.82	7.19	-21.68	-21.79	-26.15	-25.07	7.25	-12.06
Operating Cash Flow to Interest Expense	7.05	4.73	5.28	3.90	5.22	4.74	6.20	3.89	6.70	10.69	12.47
Operating Cash Flow Less CapEx to Interest Expense	6.20	3.95	5.09	3.57	4.97	4.40	5.81	3.55	6.47	10.32	11.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.51	0.54	0.54	0.54	0.52	0.55	0.56	0.56	0.54	0.57
Accounts Receivable Turnover	4.92	4.22	6.47	5.64	4.70	3.92	5.88	5.10	4.72	3.76	5.69
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	15.83	16.35	16.83	16.87	17.14	17.33	18.22	19.77	20.93	21.25	21.24
Accounts Payable Turnover	6.65	8.85	8.50	8.28	6.78	10.30	9.46	8.66	8.81	10.82	11.50
Days Sales Outstanding (DSO)	74.22	86.53	56.40	64.76	77.59	93.09	62.02	71.55	77.38	97.09	64.17
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	54.92	41.24	42.96	44.07	53.85	35.45	38.59	42.14	41.42	33.75	31.75
Cash Conversion Cycle (CCC)	19.30	45.30	13.44	20.69	23.74	57.63	23.44	29.41	35.96	63.34	32.42
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	75	65	36	30	11	232	207	235	213	179	279
Invested Capital Turnover	-92.99	10.26	14.08	12.43	18.08	5.38	6.79	6.45	7.83	4.38	3.80
Increase / (Decrease) in Invested Capital	163	-2.35	-29	-60	-64	166	171	205	203	-52	72
Enterprise Value (EV)	3,700	4,087	5,144	4,716	4,848	5,271	5,628	5,051	4,635	4,510	4,104
Market Capitalization	3,885	4,292	5,399	5,001	5,181	5,386	5,780	5,180	4,826	4,731	4,208
Book Value per Share	$2.33	$2.43	$2.57	$2.74	$2.97	$2.96	$3.05	$3.06	$3.40	$3.33	$3.19
Tangible Book Value per Share	($1.21)	($1.09)	($0.85)	($0.62)	($0.34)	($2.39)	($2.23)	($2.37)	($1.98)	($1.96)	($3.34)
Total Capital	623	633	653	675	704	706	718	722	762	757	739
Total Debt	363	362	361	361	360	359	359	358	357	357	356
Total Long-Term Debt	363	362	361	361	360	359	359	358	357	357	356
Net Debt	-185	-205	-255	-285	-333	-115	-152	-129	-191	-220	-104
Capital Expenditures (CapEx)	4.35	5.24	1.41	2.50	2.10	2.75	3.20	2.76	1.90	2.84	7.18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-283	-294	-326	-323	-323	-344	-363	-350	-362	-375	-429
Debt-free Net Working Capital (DFNWC)	265	273	291	323	370	130	148	137	186	203	31
Net Working Capital (NWC)	265	273	291	323	370	130	148	137	186	203	31
Net Nonoperating Expense (NNE)	9.66	12	12	8.45	10	12	8.14	8.40	7.75	0.97	11
Net Nonoperating Obligations (NNO)	-185	-205	-255	-285	-333	-115	-152	-129	-191	-220	-104
Total Depreciation and Amortization (D&A)	5.77	6.28	5.12	4.53	4.29	6.11	6.28	5.87	7.15	7.67	9.02
Debt-free, Cash-free Net Working Capital to Revenue	-43.72%	-43.10%	-45.69%	-43.44%	-41.90%	-43.11%	-43.94%	-41.12%	-41.25%	-41.61%	-46.45%
Debt-free Net Working Capital to Revenue	40.90%	39.96%	40.85%	43.40%	48.09%	16.23%	17.91%	16.04%	21.24%	22.52%	3.40%
Net Working Capital to Revenue	40.90%	39.96%	40.85%	43.40%	48.09%	16.23%	17.91%	16.04%	21.24%	22.52%	3.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.17)	($0.19)	($0.22)	($0.14)	($0.13)	($0.19)	($0.12)	($0.12)	($0.08)	$0.01	($0.19)
Adjusted Weighted Average Basic Shares Outstanding	111.94M	111.32M	113.79M	115.13M	115.95M	115.41M	117.54M	118.68M	119.17M	118.79M	120.08M
Adjusted Diluted Earnings per Share	($0.17)	($0.19)	($0.22)	($0.14)	($0.13)	($0.19)	($0.12)	($0.12)	($0.08)	$0.01	($0.19)
Adjusted Weighted Average Diluted Shares Outstanding	111.94M	111.32M	113.79M	115.13M	115.95M	115.41M	117.54M	118.68M	119.17M	118.79M	120.08M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	112.51M	113.65M	114.83M	115.64M	116.93M	118.12M	118.87M	119.11M	120.14M	120.30M	122.17M
Normalized Net Operating Profit after Tax (NOPAT)	-9.07	-9.86	-13	-7.52	-5.54	-6.89	-5.28	-2.90	-1.46	9.08	-12
Normalized NOPAT Margin	-5.19%	-5.34%	-7.10%	-3.86%	-2.75%	-3.23%	-2.44%	-1.31%	-0.64%	3.85%	-5.18%
Pre Tax Income Margin	-10.47%	-9.31%	-11.62%	-6.60%	-7.38%	-8.30%	-5.89%	-4.89%	-1.71%	3.63%	-8.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.96	-2.07	-2.68	-1.51	-1.78	-1.84	-1.26	-1.08	-0.21	1.37	-2.46
NOPAT to Interest Expense	-1.78	-1.46	-1.83	-0.97	-0.68	-1.24	-0.77	-0.76	-0.18	0.37	-1.77
EBIT Less CapEx to Interest Expense	-3.81	-2.84	-2.88	-1.83	-2.03	-2.18	-1.66	-1.42	-0.44	1.00	-3.48
NOPAT Less CapEx to Interest Expense	-2.64	-2.24	-2.02	-1.29	-0.94	-1.57	-1.16	-1.11	-0.41	0.00	-2.79
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-19.08%	-59.08%	-98.12%	-108.54%	-275.41%	-300.97%

Financials Breakdown Chart

Key Financial Trends

Tenable Holdings, Inc. (NASDAQ: TENB) has displayed varied financial performance over the past four years, with recent quarterly data through Q1 2025 offering insight into its operational trends, cash flow dynamics, and balance sheet position.

Revenue Growth and Profitability:

Operating revenue has grown steadily from approximately $174.9 million in Q3 2022 to $239.1 million in Q1 2025, indicating consistent top-line growth.
Despite revenue growth, net income remains negative in most quarters, including a net loss of $22.9 million in Q1 2025, reflecting ongoing profitability challenges.
Operating income was negative in recent quarters (e.g., -$17.7 million in Q1 2025), driven by high operating expenses relative to gross profit.

Expenses and Investment:

Marketing expenses are significant, generally around or above $95 million per quarter, contributing to elevated total operating expenses.
Research & development expenses have grown, reaching approximately $53.2 million in Q1 2025, reflecting investment in innovation but also higher cost pressures.
The company has experienced restructuring charges in some quarters (e.g., $4.7 million in Q2 2024), adding to expenses.

Cash Flow Highlights:

Operating cash flow remains strong and positive, with $87.4 million generated in Q1 2025, indicating solid cash generation from core business despite net losses.
Investing cash flow is negative, with large outflows due to acquisitions (e.g., $148.5 million in Q1 2025) and investments in property and equipment, signaling aggressive expansion but considerable capital use.
Financing cash flow has been negative notably due to high repurchases of common equity ($60 million in Q1 2025), which reduces cash reserves.
The net change in cash & equivalents was a decrease of approximately $95.2 million in Q1 2025, primarily tied to investing and financing activities.

Balance Sheet and Liquidity:

The company maintains substantial cash and equivalents balance of $233.4 million as of Q1 2025, supporting liquidity.
Total assets increased over the past four years to $1.69 billion in Q1 2025, supported by growth in goodwill ($656.5 million) and intangible assets ($128.6 million), reflecting acquisitions.
Total liabilities are high at $1.31 billion in Q1 2025, including long-term debt of $356 million, requiring ongoing management of leverage risk.
Shareholders' equity stands at $383 million, which while positive, reflects accumulated losses with retained earnings at a negative $884 million.

Summary: Over the last four years, Tenable has demonstrated robust revenue growth and strong cash flow from operations, indicating effective business demand and operational cash management. However, persistent net losses and significant spending on marketing, R&D, acquisitions, and equity repurchases pressure profitability and cash reserves. The growing asset base and liquidity position provide financial flexibility, but considerable liabilities and accumulated losses suggest that achieving consistent profitability remains a key challenge.

Investors should monitor Tenable’s ability to improve margins, control expenses, and successfully integrate acquisitions to turn positive earnings in the near to medium term.

10/23/25 10:29 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Tenable's Financials

When does Tenable's fiscal year end?

According to the most recent income statement we have on file, Tenable's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Tenable's net income changed over the last 8 years?

Tenable's net income appears to be on an upward trend, with a most recent value of -$36.30 million in 2024, falling from -$37.21 million in 2016. The previous period was -$78.28 million in 2023. See Tenable's forecast for analyst expectations on what’s next for the company.

What is Tenable's operating income?

Tenable's total operating income in 2024 was -$6.86 million, based on the following breakdown:

Total Gross Profit: $700.35 million
Total Operating Expenses: $707.21 million

How has Tenable's revenue changed over the last 8 years?

Over the last 8 years, Tenable's total revenue changed from $124.37 million in 2016 to $900.02 million in 2024, a change of 623.7%.

How much debt does Tenable have?

Tenable's total liabilities were at $1.34 billion at the end of 2024, a 6.5% increase from 2023, and a 419.7% increase since 2017.

How much cash does Tenable have?

In the past 7 years, Tenable's cash and equivalents has ranged from $27.21 million in 2017 to $328.65 million in 2024, and is currently $328.65 million as of their latest financial filing in 2024.

How has Tenable's book value per share changed over the last 8 years?

Over the last 8 years, Tenable's book value per share changed from 0.00 in 2016 to 3.33 in 2024, a change of 332.9%.

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This page (NASDAQ:TENB) was last updated on 10/23/2025 by MarketBeat.com Staff

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Tenable (TENB) Financials

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Tenable (TENB) Financials

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