Q2 2024 Tenable Holdings Inc Earnings Call Transcript
Key Points
- Tenable Holdings Inc (TENB) reported outperformance in revenue and earnings for Q2 2024.
- Exposure management, particularly Tenable One and cloud security, continues to generate strong demand.
- Tenable One represented 30% of new business in Q2, indicating strong traction.
- The company is seeing significant momentum in cloud security, with several large deals closed.
- Tenable Holdings Inc (TENB) introduced new AI capabilities to enhance customer value and security posture management.
- Calculated current billings (CCB) growth fell short of expectations, leading to a revised outlook for the year.
- Customers are highly scrutinizing their spending, making it more difficult to close new deals.
- The vulnerability management (VM) business is experiencing cyclical challenges, particularly in North America.
- Longer sales cycles and tighter budgetary constraints are impacting large opportunities, especially in the VM segment.
- The macroeconomic environment remains challenging, affecting the rate of new business and deal closures.
Greetings, and welcome to Tenable Q2 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Ms. Erin Karney, Senior Director, Investor Relations. Thank you, Ms. Karney, you may begin.
Thank you, operator, and thank you all for joining us on today's conference call to discuss Tenable's second-quarter 2024 financial results. With me on the call today are Amit Yoran, our Chief Executive Officer; and Steve Vintz, our Chief Financial Officer. Prior to this call, we issued a press release announcing our financial results for the quarter. You can find the press release on our IR website at tenable.com.
We will make forward-looking statements during the course of this call, including statements related to our guidance and expectations for the third quarter and full year 2024, growth and drivers in our business, changes in the threat landscape in the security industry, and our
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
