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Tenable shares slide following quarterly earnings report

Tenable Holdings Inc. saw its loss almost double in the second quarter — the company’s first earnings report since it went public in July.

The Columbia-based cybersecurity firm reported a $17.3 million loss, or 73 cents per share. That’s 85 percent larger than what it lost during the same period last year: $9.4 million, or 43 cents per share.

Adjusted for the conversion of outstanding preferred common stock during the quarter, Tenable’s loss was $14 million, or 18 cents per share, compared with $7.2 million, or 9 cents per share in the year-ago quarter.

Tenable’s results beat Wall Street estimates. Analysts polled by the Thomson Financial Network projected a loss of 20 cents per share on revenue of $62.8 million.

Tenable (NASDAQ: TENB) also updated the results of its July 26 initial public offering, disclosing that it ultimately ended up raising $265 million. It originally said it raised $288.3 million in the IPO.

The company’s shares closed down 3.3 percent Wednesday to $32.25.…

Read the full story from the Washington Business Journal.



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