Tenable Shares Are Tumbling After Hours: What's Driving The Action?

Tenable Holdings Inc TENB shares are moving lower in extended trading Monday after the company reported first-quarter results and issued revenue guidance below analyst estimates.

• Q1 Revenue: $188.84 million beat estimates of $187.09 million
• Q1 EPS: 11 cents beat estimates of 3 cents

Revenue was up 18% year-over-year and billings grew 13%. 

"Despite the macro uncertainty, we continue to gain traction with Tenable One, our Exposure Management Platform, as organizations are increasingly consolidating their spend and looking for cybersecurity solutions that drive return on investment," said Amit Yoran, chairman and CEO of Tenable.

Outlook: Tenable sees second-quarter revenue in a range of $189 million to $191 million versus estimates of $193.75 million. The company expects second-quarter earnings of 12 cents to 13 cents per share versus estimates of 10 cents per share.

Tenable guided for full-year revenue of $775 million to $785 million versus estimates of $805.35 million. The company sees full-year earnings in a range of 57 cents to 61 cents per share versus estimates of 53 cents per share.

Tenable helps approximately 43,000 organizations around the globe understand and reduce cyber risk. 

See Also: Why First Republic Bank Stock Is Falling After Hours

TENB Price Action: Tenable shares were down 13.6% after hours at $39.25 at the time of publication, according to Benzinga Pro.

Photo: Kris from Pixabay.