Tenable Holdings Inc. TENB shares fell in the extended session Monday after the cybersecurity company topped Wall Street estimates for the quarter but disappointed with its revenue and billings outlook. Tenable shares dropped 14% after hours, following a 2.4% decline in the regular session to close at $45.40. The company reported a first-quarter loss of $25.1 million, or 22 cents a share, compared with a loss of $24.5 million, or 22 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 11 cents a share, compared with 6 cents a share in the year-ago period. Revenue rose to $188.8 million from $159.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast adjusted earnings of 3 cents a share on revenue of $187.1 million. Tenable forecast adjusted earnings of 12 cents to 13 cents a share on revenue of $189 million to $191 million for the second quarter, and 57 cents to 61 cents a share on revenue of $775 million to $785 million and billings of $875 million to $885 million for the year. Analysts had estimated 10 cents a share on revenue of $193.7 million for the first quarter, and 53 cents a share on revenue of $805.5 million and billings of $920.6 million for the year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.