The following is a summary of the Tenable Holdings, Inc. (TENB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Tenable reported a strong financial performance for Q3 2024, surpassing both top and bottom line expectations with notable revenue growth and record unlevered free cash flow.

• Revenue reached $227.1 million, marking a 13% year-over-year increase.

• The Calculated Current Billings grew by 11% year-over-year to $248.4 million.

• Operating margins improved significantly, reaching 20% for the quarter.

Business Progress:

• Tenable One and Cloud Security were the primary growth drivers, with Tenable One accounting for about 30% of new sales in Q3.

• The company closed many significant deals across various sectors, including telecommunications, transportation, and public sectors.

• AI Aware rollout began in Q3, enhancing capabilities for detecting AI-related security risks.

Opportunities:

• Tenable's exposure management solutions, particularly Tenable One and Cloud Security, continue to see high adoption rates and are central to the company's growth strategy.

• The mid-market segment, especially companies nearing 5,000 employees, is emerging as a strong growth area with significant new business, including Tenable's first 7-figure mid-market deal.

Risks:

• Longer sales cycles and additional scrutiny in new business and large VM deals continue, although there was some stabilization in VM noted relative to Q2.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.