Filing Flows › Tenable Holdings (TENB) › Q1 2025
Tenable Holdings (TENB) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Tenable Holdings (TENB) reported revenue of $239M for the first quarter 2025 (Q1 2025), +11% from a year earlier and +1% from the quarter before. Operating margin was -7.4%, net loss $22.9M (9.6% of revenue).
Tenable Holdings, Q1 2025: revenue $239M (+11% year over year), operating margin -7.4%, net loss $22.9M, operating cash flow $87.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $239M | +1% | +11% |
| Operating profit | −$17.7M | — | — |
| Net earnings | −$22.9M | — | — |
| Operating cash flow | $87.4M | +8% | +74% |
| Free cash flow | $80.2M | — | — |
What changed
Revenue was $239.1M in Q1 2025, up 11% year over year and up 1% from the previous quarter. Subscription revenue was the largest line at 92% of revenue. Subscription revenue added $22.8M year over year (up 12%), 98% of the total change. Perpetual license and maintenance revenue declined 5%.
Gross margin was 78.1%, up 0.7 points from a year earlier. Operating costs exceeded revenue by $17.7M, an operating margin of -7.4%. Operating expenses grew 16% against revenue growth of 11%. The fastest-growing cost line was General & admin (+55%). The quarter ended with a net loss of $22.9M, after a profit of $1.9M the previous quarter.
Operating cash flow was $87.4M (up 74% year over year). Non-cash charges added back $9.9M of depreciation and amortization and $55.9M of share-based compensation. Working capital and other items added $44.6M. After purchases of property and equipment ($6.6M) and capitalized software development costs ($624K), free cash flow as the company reports it was $80.2M.
Questions
What was Tenable Holdings' revenue in the first quarter 2025?
Tenable Holdings (TENB) reported revenue of $239M for the first quarter 2025 (Q1 2025), +11% from a year earlier and +1% from the quarter before.
Was Tenable Holdings profitable in the first quarter 2025?
Operating loss was $17.7M (-7.4% of revenue) and net loss $22.9M.
Source: Tenable Holdings 10-Q on SEC EDGAR.