– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
COLUMBIA, Md., April 26, 2022 (GLOBE NEWSWIRE) -- Tenable Holdings, Inc. ("Tenable") (Nasdaq: TENB), the Cyber Exposure company, today announced financial results for the quarter ended March 31, 2022.
"We delivered outstanding results in the first quarter highlighted by accelerating top line growth, strong profitability and continued investment in innovation and new product capabilities," said Amit Yoran, Chairman and CEO of Tenable. "As our customers move toward more complex workloads in the cloud, they demand a cloud security program that effectively identifies, prioritizes and mitigates cyber exposure. We see a significant market opportunity ahead as we deepen our cyber exposure platform investments around identity, cloud, attack surface management, attack path analysis and other compelling analytics."
First Quarter 2022 Financial Highlights
Recent Business Highlights
Financial Outlook
For the second quarter of 2022, we currently expect:
For the year ending December 31, 2022, we currently expect:
As previously announced today in a separate press release, we entered into a definitive agreement to acquire Bit Discovery, Inc. (“Bit Discovery”), an external attack surface management company. The acquisition is expected to close in June and, therefore, is not expected to have a significant impact on our financial outlook for Q2 2022. For the second half of the year ending December 31, 2022, revenue is not expected to be significant but we expect Bit Discovery to add $2 million to $3 million of calculated current billings and $2 million to $3 million of non-GAAP net loss. The impact of the acquisition of Bit Discovery is not reflected in our outlook above.
Conference Call Information
Tenable will host a conference call today, April 26, 2022, at 4:30 p.m. Eastern Time to discuss its financial results. The conference call can be accessed at 877-407-9716 (U.S.) and 201-493-6779 (international). A live webcast of the event will be available on the Tenable Investor Relations website at https://investors.tenable.com. An archived replay of the live broadcast will be available on the Investor Relations page of the website following the call.
Tenable® is the Cyber Exposure company. Approximately 40,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include approximately 60 percent of the Fortune 500, approximately 40 percent of the Global 2000, and large government agencies. Learn more at tenable.com.
Contact Information
Investor Relationsinvestors@tenable.com
Media Relationstenablepr@tenable.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2021 and other filings that we make from time to time with the SEC, which are available on the SEC's website at sec.gov. Such risks and uncertainties may be amplified by the COVID-19 pandemic and its potential impact on our business and the global economy. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Non-GAAP Financial Measures and Other Key Metrics
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance the overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to important metrics used by management for financial and operational decision-making. We include these non-GAAP financial measures to present our financial performance using a management view and because we believe that these measures provide an additional comparison of our core financial performance over multiple periods with other companies in our industry.
Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release.
Calculated Current Billings: We define calculated current billings, a non-GAAP financial measure, as total revenue recognized in a period plus the change in current deferred revenue in the corresponding period. We believe that calculated current billings is a key metric to measure our periodic performance. Given that most of our customers pay in advance (including multi-year contracts), but we generally recognize the related revenue ratably over time, we use calculated current billings to measure and monitor our ability to provide our business with the working capital generated by upfront payments from our customers. We believe that calculated current billings, which excludes deferred revenue for periods beyond twelve months in a customer’s contractual term, more closely correlates with annual contract value and that the variability in total billings, depending on the timing of large multi-year contracts and the preference for annual billing versus multi-year upfront billing, may distort growth in one period over another.
Free Cash Flow and Unlevered Free Cash Flow: We define free cash flow, a non-GAAP financial measure, as net cash provided by operating activities less purchases of property and equipment, which includes capitalized internal use software. We believe free cash flow is an important liquidity measure of the cash (if any) that is available, after purchases of property and equipment, for investment in our business and to make acquisitions. We believe that free cash flow is useful as a liquidity measure because it measures our ability to generate or use cash. We define unlevered free cash flow as free cash flow plus cash paid for interest and other financing costs. We believe unlevered free cash flow is useful as a liquidity measure as it measures the cash that is available to invest in our business and meet our current and future financing needs.
Non-GAAP Income from Operations and Non-GAAP Operating Margin: We define these non-GAAP financial measures as their respective GAAP measures, excluding the effect of stock-based compensation, acquisition-related expenses, costs related to the intra-entity asset transfers resulting from the internal restructuring of legal entities and amortization of acquired intangible assets. Acquisition-related expenses include transaction expenses and costs related to the intercompany transfer of acquired intellectual property.
Non-GAAP Net Income and Non-GAAP Earnings Per Share: We define non-GAAP net income as GAAP net loss, excluding the effect of stock-based compensation, acquisition-related expenses and amortization of acquired intangible assets, including the applicable tax impacts. In addition, we exclude the tax impact and related costs of intra-entity asset transfers resulting from the internal restructuring of legal entities as well as deferred income tax benefits recognized in connection with acquisitions. We use non-GAAP net income to calculate non-GAAP earnings per share.
Non-GAAP Gross Profit and Non-GAAP Gross Margin: We define non-GAAP gross profit as GAAP gross profit, excluding the effect of stock-based compensation and amortization of acquired intangible assets. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of revenue.
Non-GAAP Sales and Marketing Expense, Non-GAAP Research and Development Expense and Non-GAAP General and Administrative Expense: We define these non-GAAP measures as their respective GAAP measures, excluding stock-based compensation, acquisition-related expenses and costs related to intra-entity asset transfers resulting from the internal restructuring of legal entities.
TENABLE HOLDINGS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)
| Three Months Ended March 31, | |||||||
| (in thousands, except per share data) | 2022 | 2021 | |||||
| Revenue | $ | 159,368 | $ | 123,189 | |||
| Cost of revenue(1) | 34,930 | 22,073 | |||||
| Gross profit | 124,438 | 101,116 | |||||
| Operating expenses: | |||||||
| Sales and marketing(1) | 81,570 | 58,635 | |||||
| Research and development(1) | 34,290 | 26,838 | |||||
| General and administrative(1) | 26,126 | 21,445 | |||||
| Total operating expenses | 141,986 | 106,918 | |||||
| Loss from operations | (17,548 | ) | (5,802 | ) | |||
| Interest expense, net | (3,326 | ) | (28 | ) | |||
| Other expense, net | (944 | ) | (66 | ) | |||
| Loss before income taxes | (21,818 | ) | (5,896 | ) | |||
| Provision for income taxes | 2,688 | 1,852 | |||||
| Net loss | $ | (24,506 | ) | $ | (7,748 | ) | |
| Net loss per share, basic and diluted | $ | (0.22 | ) | $ | (0.07 | ) | |
| Weighted-average shares used to compute net loss per share, basic and diluted | 109,524 | 104,531 | |||||
_______________
(1) Includes stock-based compensation as follows:
| Three Months Ended March 31, | |||||
| 2022 | 2021 | ||||
| Cost of revenue | $ | 1,513 | $ | 937 | |
| Sales and marketing | 10,065 | 6,296 | |||
| Research and development | 6,463 | 4,156 | |||
| General and administrative | 7,357 | 5,563 | |||
| Total stock-based compensation | $ | 25,398 | $ | 16,952 | |
TENABLE HOLDINGS, INC.CONSOLIDATED BALANCE SHEETS
| March 31, 2022 | December 31, 2021 | ||||||
| (in thousands, except per share data) | (unaudited) | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 287,455 | $ | 278,000 | |||
| Short-term investments | 238,645 | 234,292 | |||||
| Accounts receivable (net of allowance for doubtful accounts of $423 and $524 at March 31, 2022 and December 31, 2021, respectively) | 96,381 | 136,601 | |||||
| Deferred commissions | 40,335 | 40,311 | |||||
| Prepaid expenses and other current assets | 59,415 | 60,234 | |||||
| Total current assets | 722,231 | 749,438 | |||||
| Property and equipment, net | 39,598 | 36,833 | |||||
| Deferred commissions (net of current portion) | 58,928 | 59,638 | |||||
| Operating lease right-of-use assets | 37,521 | 38,530 | |||||
| Acquired intangible assets, net | 73,221 | 71,536 | |||||
| Goodwill | 280,574 | 261,614 | |||||
| Other assets | 25,802 | 31,230 | |||||
| Total assets | $ | 1,237,875 | $ | 1,248,819 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable and accrued expenses | $ | 17,057 | $ | 16,254 | |||
| Accrued compensation | 35,236 | 54,051 | |||||
| Deferred revenue | 404,786 | 407,498 | |||||
| Operating lease liabilities | 3,564 | 2,320 | |||||
| Other current liabilities | 3,162 | 3,759 | |||||
| Total current liabilities | 463,805 | 483,882 | |||||
| Deferred revenue (net of current portion) | 122,722 | 123,387 | |||||
| Term loan, net of issuance costs (net of current portion) | 364,063 | 364,728 | |||||
| Operating lease liabilities (net of current portion) | 53,685 | 55,046 | |||||
| Other liabilities | 6,632 | 6,463 | |||||
| Total liabilities | 1,010,907 | 1,033,506 | |||||
| Stockholders’ equity: | |||||||
| Common stock (par value: $0.01; 500,000 shares authorized; 110,287 and 108,929 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively) | 1,103 | 1,089 | |||||
| Additional paid-in capital | 906,263 | 869,059 | |||||
| Accumulated other comprehensive loss | (1,363 | ) | (306 | ) | |||
| Accumulated deficit | (679,035 | ) | (654,529 | ) | |||
| Total stockholders’ equity | 226,968 | 215,313 | |||||
| Total liabilities and stockholders’ equity | $ | 1,237,875 | $ | 1,248,819 | |||
TENABLE HOLDINGS, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited)
| Three Months Ended March 31, | |||||||
| (in thousands) | 2022 | 2021 | |||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (24,506 | ) | $ | (7,748 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 4,896 | 2,816 | |||||
| Stock-based compensation | 25,398 | 16,952 | |||||
| Other | 1,323 | 313 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 40,341 | 32,455 | |||||
| Prepaid expenses and other assets | 8,463 | 5,427 | |||||
| Accounts payable, accrued expenses and accrued compensation | (18,745 | ) | (6,003 | ) | |||
| Deferred revenue | (3,543 | ) | (5,648 | ) | |||
| Other current and noncurrent liabilities | (765 | ) | 61 | ||||
| Net cash provided by operating activities | 32,862 | 38,625 | |||||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (4,811 | ) | (1,061 | ) | |||
| Purchases of short-term investments | (60,850 | ) | (29,361 | ) | |||
| Sales and maturities of short-term investments | 55,135 | 31,000 | |||||
| Business combination, net of cash acquired | (22,960 | ) | — | ||||
| Net cash (used in) provided by investing activities | (33,486 | ) | 578 | ||||
| Cash flows from financing activities: | |||||||
| Payments on term loan | (938 | ) | — | ||||
| Proceeds from stock issued in connection with the employee stock purchase plan | 8,882 | 8,046 | |||||
| Proceeds from the exercise of stock options | 2,587 | 4,015 | |||||
| Other financing activities | (3 | ) | (3 | ) | |||
| Net cash provided by financing activities | 10,528 | 12,058 | |||||
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | (449 | ) | (1,068 | ) | |||
| Net increase in cash and cash equivalents and restricted cash | 9,455 | 50,193 | |||||
| Cash and cash equivalents and restricted cash at beginning of period | 278,271 | 178,463 | |||||
| Cash and cash equivalents and restricted cash at end of period | $ | 287,726 | $ | 228,656 | |||
TENABLE HOLDINGS, INC.REVENUE COMPONENTS AND RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES(unaudited)
| Revenue | Three Months Ended March 31, | ||||
| (in thousands) | 2022 | 2021 | |||
| Subscription revenue | $ | 142,687 | $ | 107,402 | |
| Perpetual license and maintenance revenue | 12,873 | 12,405 | |||
| Professional services and other revenue | 3,808 | 3,382 | |||
| Revenue(1) | $ | 159,368 | $ | 123,189 | |
_______________
(1) Recurring revenue, which includes revenue from subscription arrangements for software and cloud-based solutions and maintenance associated with perpetual licenses, represented 95% and 94% of revenue in the three months ended March 31, 2022 and 2021, respectively.
| Calculated Current Billings | Three Months Ended March 31, | ||||||
| (in thousands) | 2022 | 2021 | |||||
| Revenue | $ | 159,368 | $ | 123,189 | |||
| Add: Deferred revenue (current), end of period | 404,786 | 325,113 | |||||
| Less: Deferred revenue (current), beginning of period(1) | (407,635 | ) | (328,819 | ) | |||
| Calculated current billings | $ | 156,519 | $ | 119,483 | |||
_______________
(1) Deferred revenue (current), beginning of period for the three months ended March 31, 2022 includes $0.1 million related to Cymptom's deferred revenue at the acquisition date, which is not included in deferred revenue (current) balance at December 31, 2021.
| Free Cash Flow and Unlevered Free Cash Flow | Three Months Ended March 31, | ||||||
| (in thousands) | 2022 | 2021 | |||||
| Net cash provided by operating activities | $ | 32,862 | $ | 38,625 | |||
| Purchases of property and equipment | (4,811 | ) | (1,061 | ) | |||
| Free cash flow(1) | 28,051 | 37,564 | |||||
| Cash paid for interest and other financing costs | 4,051 | 71 | |||||
| Unlevered free cash flow(1) | $ | 32,102 | $ | 37,635 | |||
________________
(1) Free cash flow and unlevered free cash flow for the periods presented were impacted by:
| Three Months Ended March 31, | |||||||
| (in millions) | 2022 | 2021 | |||||
| Employee stock purchase plan activity | $ | (4.0 | ) | $ | (5.0 | ) | |
| Acquisition-related expenses | (0.7 | ) | (1.7 | ) | |||
| Costs related to intra-entity asset transfers | (0.8 | ) | — | ||||
| Tax payment on intra-entity asset transfers | (2.7 | ) | (2.8 | ) | |||
Free cash flow and unlevered free cash flow for the three months ended March 31, 2022 and 2021 were benefited by approximately $6 million and $5 million, respectively, as a result of the accelerated timing of payments for insurance, professional fees and rent in prior quarters.
| Non-GAAP Income from Operations and Non-GAAP Operating Margin | Three Months Ended March 31, | ||||||||
| (dollars in thousands) | 2022 | 2021 | |||||||
| Loss from operations | $ | (17,548 | ) | $ | (5,802 | ) | |||
| Stock-based compensation | 25,398 | 16,952 | |||||||
| Acquisition-related expenses | 1,341 | 2,158 | |||||||
| Costs related to intra-entity asset transfers | 838 | — | |||||||
| Amortization of acquired intangible assets | 2,427 | 579 | |||||||
| Non-GAAP income from operations | $ | 12,456 | $ | 13,887 | |||||
| Operating margin | (11 | ) | % | (5 | ) | % | |||
| Non-GAAP operating margin | 8 | % | 11 | % | |||||
| Non-GAAP Net Income and Non-GAAP Earnings Per Share | Three Months Ended March 31, | ||||||
| (in thousands, except for per share amounts) | 2022 | 2021 | |||||
| Net loss | $ | (24,506 | ) | $ | (7,748 | ) | |
| Stock-based compensation | 25,398 | 16,952 | |||||
| Tax impact of stock-based compensation(1) | 1,066 | (4 | ) | ||||
| Acquisition-related expenses(2) | 1,341 | 2,158 | |||||
| Costs related to intra-entity asset transfers(3) | 838 | — | |||||
| Amortization of acquired intangible assets(4) | 2,427 | 579 | |||||
| Tax impact of acquisitions(5) | (442 | ) | — | ||||
| Tax impact of intra-entity asset transfers(6) | 843 | 2,808 | |||||
| Non-GAAP net income | $ | 6,965 | $ | 14,745 | |||
| Net loss per share, diluted | $ | (0.22 | ) | $ | (0.07 | ) | |
| Stock-based compensation | 0.23 | 0.16 | |||||
| Tax impact of stock-based compensation(1) | 0.01 | — | |||||
| Acquisition-related expenses(2) | 0.01 | 0.02 | |||||
| Costs related to intra-entity asset transfers(3) | 0.01 | — | |||||
| Amortization of acquired intangible assets(4) | 0.02 | — | |||||
| Tax impact of acquisitions(5) | (0.01 | ) | — | ||||
| Tax impact of intra-entity asset transfers(6) | 0.01 | 0.03 | |||||
| Adjustment to diluted earnings per share(7) | — | (0.01 | ) | ||||
| Non-GAAP earnings per share, diluted | $ | 0.06 | $ | 0.13 | |||
| Weighted-average shares used to compute GAAP net loss per share, diluted | 109,524 | 104,531 | |||||
| Weighted-average shares used to compute non-GAAP earnings per share, diluted | 117,155 | 113,934 | |||||
________________
(1) The tax impact of stock-based compensation is based on the tax treatment for the applicable tax jurisdictions.
(2) The tax impact of acquisition-related expenses is not material.
(3) The costs related to the intra-entity asset transfer resulted from our internal restructuring of Cymptom.
(4) The tax impact of the amortization of acquired intangible assets is included in the tax impact of acquisitions.
(5) The tax impact of acquisitions is related to the deferred tax benefits of the Alsid acquisition.
(6) The tax impact of the intra-entity asset transfers are related to current tax payments based on the applicable Israeli tax rates resulting from our internal restructuring of Cymptom and Indegy in the three months ended March 31, 2022 and 2021, respectively.
(7) An adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares.
| Non-GAAP Gross Profit and Non-GAAP Gross Margin | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| Gross profit | $ | 124,438 | $ | 101,116 | |||
| Stock-based compensation | 1,513 | 937 | |||||
| Amortization of acquired intangible assets | 2,427 | 579 | |||||
| Non-GAAP gross profit | $ | 128,378 | $ | 102,632 | |||
| Gross margin | 78 | % | 82 | % | |||
| Non-GAAP gross margin | 81 | % | 83 | % | |||
| Non-GAAP Sales and Marketing Expense | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| Sales and marketing expense | $ | 81,570 | $ | 58,635 | |||
| Less: Stock-based compensation | 10,065 | 6,296 | |||||
| Non-GAAP sales and marketing expense | $ | 71,505 | $ | 52,339 | |||
| Non-GAAP sales and marketing expense as % of revenue | 45 | % | 42 | % | |||
| Non-GAAP Research and Development Expense | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| Research and development expense | $ | 34,290 | $ | 26,838 | |||
| Less: Stock-based compensation | 6,463 | 4,156 | |||||
| Non-GAAP research and development expense | $ | 27,827 | $ | 22,682 | |||
| Non-GAAP research and development expense as % of revenue | 17 | % | 18 | % | |||
| Non-GAAP General and Administrative Expense | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| General and administrative expense | $ | 26,126 | $ | 21,445 | |||
| Less: Stock-based compensation | 7,357 | 5,563 | |||||
| Less: Acquisition-related expenses | 1,341 | 2,158 | |||||
| Less: Costs related to intra-entity asset transfer | 838 | — | |||||
| Non-GAAP general and administrative expense | $ | 16,590 | $ | 13,724 | |||
| Non-GAAP general and administrative expense as % of revenue | 10 | % | 11 | % | |||
The following adjustments to reconcile forecasted non-GAAP income from operations, non-GAAP net income and non-GAAP earnings per share are subject to a number of uncertainties and assumptions, each of which are inherently difficult to forecast. As a result, actual adjustments and GAAP results may differ materially.
| Forecasted Non-GAAP Income from Operations | Three Months Ending June 30, 2022 | Year Ending December 31, 2022 | |||||||||||||
| (in millions) | Low | High | Low | High | |||||||||||
| Forecasted loss from operations | $ | (28.6 | ) | $ | (27.6 | ) | $ | (90.1 | ) | $ | (86.1 | ) | |||
| Forecasted stock-based compensation | 31.5 | 31.5 | 121.2 | 121.2 | |||||||||||
| Forecasted acquisition-related expenses | 0.4 | 0.4 | 1.7 | 1.7 | |||||||||||
| Forecasted costs related to intra-entity asset transfers | — | — | 0.8 | 0.8 | |||||||||||
| Forecasted amortization of acquired intangible assets | 2.7 | 2.7 | 10.4 | 10.4 | |||||||||||
| Forecasted non-GAAP income from operations | $ | 6.0 | $ | 7.0 | $ | 44.0 | $ | 48.0 | |||||||
| Forecasted Non-GAAP Net Income and Non-GAAP Earnings Per Share | Three Months Ending June 30, 2022 | Year Ending December 31, 2022 | |||||||||||||
| (in millions, except per share data) | Low | High | Low | High | |||||||||||
| Forecasted net loss(1) | $ | (34.3 | ) | $ | (33.3 | ) | $ | (118.1 | ) | $ | (114.1 | ) | |||
| Forecasted stock-based compensation | 31.5 | 31.5 | 121.2 | 121.2 | |||||||||||
| Forecasted tax impact of stock-based compensation | 0.4 | 0.4 | 2.1 | 2.1 | |||||||||||
| Forecasted acquisition-related expenses | 0.4 | 0.4 | 1.7 | 1.7 | |||||||||||
| Forecasted costs related to intra-entity asset transfers | — | — | 0.8 | 0.8 | |||||||||||
| Forecasted amortization of acquired intangible assets | 2.7 | 2.7 | 10.4 | 10.4 | |||||||||||
| Forecasted tax impact of acquisitions | (0.3 | ) | (0.3 | ) | (1.5 | ) | (1.5 | ) | |||||||
| Forecasted tax impact of intra-entity asset transfers | 0.6 | 0.6 | 2.9 | 2.9 | |||||||||||
| Forecasted non-GAAP net income | $ | 1.0 | $ | 2.0 | $ | 19.5 | $ | 23.5 | |||||||
| Forecasted net loss per share, diluted(1) | $ | (0.31 | ) | $ | (0.30 | ) | $ | (1.06 | ) | $ | (1.02 | ) | |||
| Forecasted stock-based compensation | 0.29 | 0.29 | 1.09 | 1.09 | |||||||||||
| Forecasted tax impact of stock-based compensation | — | — | 0.02 | 0.02 | |||||||||||
| Forecasted acquisition-related expenses | — | — | 0.01 | 0.01 | |||||||||||
| Forecasted costs related to intra-entity asset transfers | — | — | 0.01 | 0.01 | |||||||||||
| Forecasted amortization of acquired intangible assets | 0.02 | 0.02 | 0.09 | 0.09 | |||||||||||
| Forecasted tax impact of acquisitions | — | — | (0.01 | ) | (0.01 | ) | |||||||||
| Forecasted tax impact of intra-entity asset transfers | 0.01 | 0.01 | 0.02 | 0.02 | |||||||||||
| Adjustment to diluted earnings per share(2) | — | — | (0.01 | ) | (0.01 | ) | |||||||||
| Forecasted non-GAAP earnings per share, diluted | $ | 0.01 | $ | 0.02 | $ | 0.16 | $ | 0.20 | |||||||
| Forecasted weighted-average shares used to compute net loss per share, diluted | 111.0 | 111.0 | 111.5 | 111.5 | |||||||||||
| Forecasted weighted-average shares used to compute non-GAAP earnings per share, diluted | 119.5 | 119.5 | 119.5 | 119.5 | |||||||||||
________________(1) The forecasted GAAP net loss assumes income tax expense of $2.3 million and $11.5 million in the three months ending June 30, 2022 and the year ending December 31, 2022, respectively.
(2) Adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares.
КОЛУМБИЯ, Мэриленд, 26 апреля 2022 года (GLOBE NEWSWIRE) -- Tenable Holdings, Inc. ("Tenable") (Nasdaq: TENB), компания по киберзащите, сегодня объявила финансовые результаты за квартал, закончившийся 31 марта 2022 года.
"В первом квартале мы добились выдающихся результатов, о чем свидетельствует ускорение роста выручки, высокая прибыльность и постоянные инвестиции в инновации и новые возможности продуктов", - сказал Амит Йоран, председатель и главный исполнительный директор Tenable. "По мере того, как наши клиенты переходят к более сложным рабочим нагрузкам в облаке, им требуется программа облачной безопасности, которая эффективно выявляет, определяет приоритеты и снижает киберзащиту. Мы видим значительные рыночные возможности впереди, поскольку мы углубляем наши инвестиции в платформу киберзащиты в области идентификации, облачных технологий, управления поверхностью атак, анализа путей атак и другой привлекательной аналитики ".
Основные финансовые показатели Первого квартала 2022 года
Последние события в бизнесе
Финансовые перспективы
Во втором квартале 2022 года мы в настоящее время ожидаем:
В течение года, заканчивающегося 31 декабря 2022 года, мы в настоящее время ожидаем:
Как ранее было объявлено сегодня в отдельном пресс-релизе, мы заключили окончательное соглашение о приобретении Bit Discovery, Inc. (“Bit Discovery”), компании по управлению внешними атаками. Ожидается, что сделка по приобретению завершится в июне и, следовательно, не окажет существенного влияния на наши финансовые перспективы на 2 квартал 2022 года. Ожидается, что во втором полугодии, заканчивающемся 31 декабря 2022 года, выручка не будет значительной, но мы ожидаем, что Bit Discovery добавит от 2 до 3 миллионов долларов расчетных текущих счетов и от 2 до 3 миллионов долларов чистого убытка, не связанного с GAAP. Влияние приобретения Bit Discovery не отражено в нашем прогнозе, приведенном выше.
Информация о конференц-звонке
Tenable проведет телефонную конференцию сегодня, 26 апреля 2022 года, в 4:30 вечера по восточному времени, чтобы обсудить свои финансовые результаты. Телефонная конференция доступна по телефонам 877-407-9716 (США) и 201-493-6779 (международный). Прямая трансляция мероприятия будет доступна на веб-сайте Tenable Investor Relations по адресу https://investors.tenable.com . Архивированный повтор прямой трансляции будет доступен на странице по связям с инвесторами веб-сайта после звонка.
Tenable® - это компания, занимающаяся киберзащитой. Около 40 000 организаций по всему миру полагаются на Tenable для понимания и снижения киберрисков. Как создатель Nessus®, Tenable расширила свой опыт в области уязвимостей, чтобы создать первую в мире платформу для просмотра и защиты любых цифровых активов на любой вычислительной платформе. Среди постоянных клиентов - примерно 60 процентов компаний из списка Fortune 500, примерно 40 процентов Global 2000 и крупные правительственные учреждения. Узнайте больше на сайте tenable.com .
Контактная Информация
Инвестор Relationsinvestors@tenable.com
Средства массовой информации Relationstenablepr@tenable.com
Прогнозные заявления
Настоящий пресс-релиз содержит прогнозные заявления по смыслу положений Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года о "безопасной гавани". Все заявления, содержащиеся в этом пресс-релизе, кроме заявлений об исторических фактах, включая заявления относительно наших будущих результатов деятельности и финансового положения, бизнес-стратегии, планов и целей для будущих операций, являются прогнозными заявлениями и отражают наши взгляды на дату настоящего пресс-релиза. Слова “предвидеть”, ”полагать“, ”продолжать“, ”оценивать“, "ожидать”, “намереваться”, “возможно”, “будет” и подобные выражения предназначены для обозначения прогнозных заявлений. Мы основали эти прогнозные заявления на наших текущих ожиданиях и прогнозах относительно будущих событий и финансовых тенденций, которые, по нашему мнению, могут повлиять на наше финансовое состояние, результаты деятельности, бизнес-стратегию, краткосрочные и долгосрочные бизнес-операции, а также цели и финансовые потребности. Эти прогнозные заявления основаны на ряде допущений, рисков и неопределенностей, многие из которых связаны с факторами или обстоятельствами, которые находятся вне нашего контроля и могут повлиять на наши финансовые результаты. Эти риски и неопределенности подробно описаны в разделах "Факторы риска" и "Обсуждение и анализ руководством финансового состояния и результатов деятельности" в нашем Годовом отчете по форме 10-K за год, закончившийся 31 декабря 2021 года, и в других документах, которые мы время от времени подаем в SEC, которые доступны на веб-сайте SEC по адресу sec.gov . Такие риски и неопределенности могут быть усилены пандемией COVID-19 и ее потенциальным воздействием на наш бизнес и мировую экономику. Кроме того, мы работаем в очень конкурентной и быстро меняющейся среде. Время от времени возникают новые риски. Наше руководство не может предсказать все риски, а также мы не можем оценить влияние всех факторов на наш бизнес или степень, в которой какой-либо фактор или комбинация факторов могут привести к тому, что фактические результаты будут существенно отличаться от тех, которые содержатся в любых прогнозных заявлениях, которые мы можем сделать. В свете этих рисков, неопределенностей и допущений будущие события и тенденции, обсуждаемые в настоящем пресс-релизе, могут не произойти, а фактические результаты могут существенно и отрицательно отличаться от ожидаемых или подразумеваемых в любых прогнозных заявлениях. За исключением случаев, предусмотренных законом, мы не обязаны обновлять эти прогнозные заявления после даты настоящего пресс-релиза или обновлять причины, если фактические результаты существенно отличаются от ожидаемых в прогнозных заявлениях.
Финансовые показатели, не относящиеся к GAAP, и другие ключевые показатели
В дополнение к нашей консолидированной финансовой отчетности, которая подготовлена и представлена в соответствии с GAAP, мы используем определенные финансовые показатели, не относящиеся к GAAP, как описано ниже, для понимания и оценки наших основных операционных показателей. Эти финансовые показатели, не относящиеся к GAAP, которые могут отличаться от показателей с аналогичным названием, используемых другими компаниями, представлены для улучшения общего понимания наших финансовых показателей и не должны рассматриваться как замена или превосходство финансовой информации, подготовленной и представленной в соответствии с GAAP.
Мы считаем, что эти финансовые показатели, не относящиеся к GAAP, предоставляют полезную информацию о наших финансовых результатах, улучшают общее понимание наших прошлых результатов и будущих перспектив и обеспечивают большую прозрачность в отношении важных показателей, используемых руководством для принятия финансовых и операционных решений. Мы включаем эти финансовые показатели, не относящиеся к GAAP, чтобы представить наши финансовые показатели с точки зрения руководства, а также потому, что мы считаем, что эти показатели обеспечивают дополнительное сравнение наших основных финансовых показателей за несколько периодов с другими компаниями в нашей отрасли.
Сверки финансовых показателей, не относящихся к GAAP, с наиболее непосредственно сопоставимыми финансовыми показателями GAAP включены в финансовые таблицы, прилагаемые к настоящему пресс-релизу.
Рассчитанные текущие счета: Мы определяем рассчитанные текущие счета, финансовый показатель, не относящийся к GAAP, как общую выручку, признанную за период, плюс изменение текущей отложенной выручки в соответствующем периоде. Мы считаем, что рассчитанные текущие счета являются ключевым показателем для измерения нашей периодической производительности. Учитывая, что большинство наших клиентов платят авансом (включая многолетние контракты), но мы обычно признаем соответствующую выручку с течением времени, мы используем рассчитанные текущие счета для измерения и мониторинга нашей способности обеспечить наш бизнес оборотным капиталом, генерируемым авансовыми платежами от наших клиентов. Мы считаем, что рассчитанные текущие счета, которые исключают отложенный доход за периоды, превышающие двенадцать месяцев в контрактном сроке клиента, более тесно коррелируют с годовой стоимостью контракта и что изменчивость общих счетов зависит от сроков крупных многолетних контрактов и предпочтения ежегодного выставления счетов по сравнению с многолетним авансовым выставлением счетов, может исказить рост в один период по сравнению с другим.
Свободный денежный поток и нераспределенный Свободный денежный поток: Мы определяем свободный денежный поток, финансовый показатель, не относящийся к GAAP, как чистые денежные средства, полученные от операционной деятельности за вычетом покупок основных средств, включая капитализированное программное обеспечение для внутреннего использования. Мы считаем, что свободный денежный поток является важным показателем ликвидности денежных средств (если таковые имеются), которые доступны после приобретения основных средств для инвестиций в наш бизнес и приобретения. Мы считаем, что свободный денежный поток полезен в качестве показателя ликвидности, поскольку он измеряет нашу способность генерировать или использовать денежные средства. Мы определяем нераспределенный свободный денежный поток как свободный денежный поток плюс денежные средства, уплаченные за проценты и другие финансовые затраты. Мы считаем, что нераспределенный свободный денежный поток полезен в качестве показателя ликвидности, поскольку он измеряет денежные средства, доступные для инвестирования в наш бизнес и удовлетворения наших текущих и будущих потребностей в финансировании.
Операционный доход, не относящийся к GAAP, и Операционная маржа, не относящаяся к GAAP: Мы определяем эти финансовые показатели, не относящиеся к GAAP, как соответствующие им показатели GAAP, исключая влияние компенсации на основе акций, расходов, связанных с приобретением, затрат, связанных с передачей активов внутри организации в результате внутренней реструктуризации юридических лиц и амортизации приобретенных нематериальных активов. Расходы, связанные с приобретением, включают операционные расходы и расходы, связанные с внутрифирменной передачей приобретенной интеллектуальной собственности.
Чистая прибыль без учета GAAP и Прибыль на акцию без учета GAAP: Мы определяем чистую прибыль без учета GAAP как чистый убыток по GAAP, исключая влияние компенсации на основе акций, расходов, связанных с приобретением, и амортизации приобретенных нематериальных активов, включая применимые налоговые последствия. Кроме того, мы исключаем налоговые последствия и связанные с ними затраты, связанные с передачей активов внутри организации в результате внутренней реструктуризации юридических лиц, а также льготы по отложенному налогу на прибыль, признанные в связи с приобретениями. Мы используем чистую прибыль, не связанную с ОПБУ, для расчета прибыли на акцию, не связанной с ОПБУ.
Валовая прибыль без учета GAAP и Валовая прибыль без учета GAAP: Мы определяем валовую прибыль без учета GAAP как валовую прибыль по GAAP, исключая влияние компенсации на основе акций и амортизации приобретенных нематериальных активов. Валовая прибыль, не соответствующая ОПБУ, определяется как валовая прибыль, не соответствующая ОПБУ, в процентах от выручки.
Расходы на продажи и маркетинг, не относящиеся к GAAP, Расходы на исследования и разработки, не относящиеся к GAAP, а также Общие и административные расходы, не относящиеся к GAAP: Мы определяем эти показатели, не относящиеся к GAAP, как соответствующие им показатели GAAP, исключая компенсацию на основе акций, расходы, связанные с приобретением, и расходы, связанные с передачей активов внутри организации в результате внутреннего реструктуризация юридических лиц.
Tenable Holdings, INC.КОНСОЛИДИРОВАННЫЕ ОТЧЕТЫ О ДЕЯТЕЛЬНОСТИ (неаудированные)
| Three Months Ended March 31, | |||||||
| (in thousands, except per share data) | 2022 | 2021 | |||||
| Revenue | $ | 159,368 | $ | 123,189 | |||
| Cost of revenue(1) | 34,930 | 22,073 | |||||
| Gross profit | 124,438 | 101,116 | |||||
| Operating expenses: | |||||||
| Sales and marketing(1) | 81,570 | 58,635 | |||||
| Research and development(1) | 34,290 | 26,838 | |||||
| General and administrative(1) | 26,126 | 21,445 | |||||
| Total operating expenses | 141,986 | 106,918 | |||||
| Loss from operations | (17,548 | ) | (5,802 | ) | |||
| Interest expense, net | (3,326 | ) | (28 | ) | |||
| Other expense, net | (944 | ) | (66 | ) | |||
| Loss before income taxes | (21,818 | ) | (5,896 | ) | |||
| Provision for income taxes | 2,688 | 1,852 | |||||
| Net loss | $ | (24,506 | ) | $ | (7,748 | ) | |
| Net loss per share, basic and diluted | $ | (0.22 | ) | $ | (0.07 | ) | |
| Weighted-average shares used to compute net loss per share, basic and diluted | 109,524 | 104,531 | |||||
_______________
(1) Включает компенсацию, основанную на акциях, следующим образом:
| Three Months Ended March 31, | |||||
| 2022 | 2021 | ||||
| Cost of revenue | $ | 1,513 | $ | 937 | |
| Sales and marketing | 10,065 | 6,296 | |||
| Research and development | 6,463 | 4,156 | |||
| General and administrative | 7,357 | 5,563 | |||
| Total stock-based compensation | $ | 25,398 | $ | 16,952 | |
Tenable Holdings, inc.консолидированные балансовые отчеты
| March 31, 2022 | December 31, 2021 | ||||||
| (in thousands, except per share data) | (unaudited) | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 287,455 | $ | 278,000 | |||
| Short-term investments | 238,645 | 234,292 | |||||
| Accounts receivable (net of allowance for doubtful accounts of $423 and $524 at March 31, 2022 and December 31, 2021, respectively) | 96,381 | 136,601 | |||||
| Deferred commissions | 40,335 | 40,311 | |||||
| Prepaid expenses and other current assets | 59,415 | 60,234 | |||||
| Total current assets | 722,231 | 749,438 | |||||
| Property and equipment, net | 39,598 | 36,833 | |||||
| Deferred commissions (net of current portion) | 58,928 | 59,638 | |||||
| Operating lease right-of-use assets | 37,521 | 38,530 | |||||
| Acquired intangible assets, net | 73,221 | 71,536 | |||||
| Goodwill | 280,574 | 261,614 | |||||
| Other assets | 25,802 | 31,230 | |||||
| Total assets | $ | 1,237,875 | $ | 1,248,819 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable and accrued expenses | $ | 17,057 | $ | 16,254 | |||
| Accrued compensation | 35,236 | 54,051 | |||||
| Deferred revenue | 404,786 | 407,498 | |||||
| Operating lease liabilities | 3,564 | 2,320 | |||||
| Other current liabilities | 3,162 | 3,759 | |||||
| Total current liabilities | 463,805 | 483,882 | |||||
| Deferred revenue (net of current portion) | 122,722 | 123,387 | |||||
| Term loan, net of issuance costs (net of current portion) | 364,063 | 364,728 | |||||
| Operating lease liabilities (net of current portion) | 53,685 | 55,046 | |||||
| Other liabilities | 6,632 | 6,463 | |||||
| Total liabilities | 1,010,907 | 1,033,506 | |||||
| Stockholders’ equity: | |||||||
| Common stock (par value: $0.01; 500,000 shares authorized; 110,287 and 108,929 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively) | 1,103 | 1,089 | |||||
| Additional paid-in capital | 906,263 | 869,059 | |||||
| Accumulated other comprehensive loss | (1,363 | ) | (306 | ) | |||
| Accumulated deficit | (679,035 | ) | (654,529 | ) | |||
| Total stockholders’ equity | 226,968 | 215,313 | |||||
| Total liabilities and stockholders’ equity | $ | 1,237,875 | $ | 1,248,819 | |||
Tenable Holdings, INC.КОНСОЛИДИРОВАННЫЕ ОТЧЕТЫ О ДВИЖЕНИИ ДЕНЕЖНЫХ СРЕДСТВ (неаудированные)
| Three Months Ended March 31, | |||||||
| (in thousands) | 2022 | 2021 | |||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (24,506 | ) | $ | (7,748 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 4,896 | 2,816 | |||||
| Stock-based compensation | 25,398 | 16,952 | |||||
| Other | 1,323 | 313 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 40,341 | 32,455 | |||||
| Prepaid expenses and other assets | 8,463 | 5,427 | |||||
| Accounts payable, accrued expenses and accrued compensation | (18,745 | ) | (6,003 | ) | |||
| Deferred revenue | (3,543 | ) | (5,648 | ) | |||
| Other current and noncurrent liabilities | (765 | ) | 61 | ||||
| Net cash provided by operating activities | 32,862 | 38,625 | |||||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (4,811 | ) | (1,061 | ) | |||
| Purchases of short-term investments | (60,850 | ) | (29,361 | ) | |||
| Sales and maturities of short-term investments | 55,135 | 31,000 | |||||
| Business combination, net of cash acquired | (22,960 | ) | — | ||||
| Net cash (used in) provided by investing activities | (33,486 | ) | 578 | ||||
| Cash flows from financing activities: | |||||||
| Payments on term loan | (938 | ) | — | ||||
| Proceeds from stock issued in connection with the employee stock purchase plan | 8,882 | 8,046 | |||||
| Proceeds from the exercise of stock options | 2,587 | 4,015 | |||||
| Other financing activities | (3 | ) | (3 | ) | |||
| Net cash provided by financing activities | 10,528 | 12,058 | |||||
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | (449 | ) | (1,068 | ) | |||
| Net increase in cash and cash equivalents and restricted cash | 9,455 | 50,193 | |||||
| Cash and cash equivalents and restricted cash at beginning of period | 278,271 | 178,463 | |||||
| Cash and cash equivalents and restricted cash at end of period | $ | 287,726 | $ | 228,656 | |||
Tenable Holdings, INC.КОМПОНЕНТЫ ВЫРУЧКИ И СВЕРКА GAAP С ФИНАНСОВЫМИ ПОКАЗАТЕЛЯМИ, НЕ ОТНОСЯЩИМИСЯ К GAAP (неаудировано)
| Revenue | Three Months Ended March 31, | ||||
| (in thousands) | 2022 | 2021 | |||
| Subscription revenue | $ | 142,687 | $ | 107,402 | |
| Perpetual license and maintenance revenue | 12,873 | 12,405 | |||
| Professional services and other revenue | 3,808 | 3,382 | |||
| Revenue(1) | $ | 159,368 | $ | 123,189 | |
_______________
(1) Периодические доходы, которые включают доходы от подписки на программное обеспечение и облачные решения, а также от обслуживания, связанного с бессрочными лицензиями, составили 95% и 94% выручки за три месяца, закончившихся 31 марта 2022 и 2021 годов, соответственно.
| Calculated Current Billings | Three Months Ended March 31, | ||||||
| (in thousands) | 2022 | 2021 | |||||
| Revenue | $ | 159,368 | $ | 123,189 | |||
| Add: Deferred revenue (current), end of period | 404,786 | 325,113 | |||||
| Less: Deferred revenue (current), beginning of period(1) | (407,635 | ) | (328,819 | ) | |||
| Calculated current billings | $ | 156,519 | $ | 119,483 | |||
_______________
(1) Отложенный доход (текущий), начало периода за три месяца, закончившихся 31 марта 2022 года, включает 0,1 миллиона долларов США, относящиеся к отложенному доходу Cymp-Tom на дату приобретения, который не включен в отложенный доход (текущий) остаток на 31 декабря 2021 года.
| Free Cash Flow and Unlevered Free Cash Flow | Three Months Ended March 31, | ||||||
| (in thousands) | 2022 | 2021 | |||||
| Net cash provided by operating activities | $ | 32,862 | $ | 38,625 | |||
| Purchases of property and equipment | (4,811 | ) | (1,061 | ) | |||
| Free cash flow(1) | 28,051 | 37,564 | |||||
| Cash paid for interest and other financing costs | 4,051 | 71 | |||||
| Unlevered free cash flow(1) | $ | 32,102 | $ | 37,635 | |||
________________
(1) На свободный денежный поток и нераспределенный свободный денежный поток за представленные периоды повлияли:
| Three Months Ended March 31, | |||||||
| (in millions) | 2022 | 2021 | |||||
| Employee stock purchase plan activity | $ | (4.0 | ) | $ | (5.0 | ) | |
| Acquisition-related expenses | (0.7 | ) | (1.7 | ) | |||
| Costs related to intra-entity asset transfers | (0.8 | ) | — | ||||
| Tax payment on intra-entity asset transfers | (2.7 | ) | (2.8 | ) | |||
Свободный денежный поток и нераспределенный свободный денежный поток за три месяца, закончившихся 31 марта 2022 и 2021 годов, получили выгоду примерно на 6 миллионов долларов и 5 миллионов долларов соответственно в результате ускорения сроков выплат по страховке, профессиональным гонорарам и арендной плате в предыдущих кварталах.
| Non-GAAP Income from Operations and Non-GAAP Operating Margin | Three Months Ended March 31, | ||||||||
| (dollars in thousands) | 2022 | 2021 | |||||||
| Loss from operations | $ | (17,548 | ) | $ | (5,802 | ) | |||
| Stock-based compensation | 25,398 | 16,952 | |||||||
| Acquisition-related expenses | 1,341 | 2,158 | |||||||
| Costs related to intra-entity asset transfers | 838 | — | |||||||
| Amortization of acquired intangible assets | 2,427 | 579 | |||||||
| Non-GAAP income from operations | $ | 12,456 | $ | 13,887 | |||||
| Operating margin | (11 | ) | % | (5 | ) | % | |||
| Non-GAAP operating margin | 8 | % | 11 | % | |||||
| Non-GAAP Net Income and Non-GAAP Earnings Per Share | Three Months Ended March 31, | ||||||
| (in thousands, except for per share amounts) | 2022 | 2021 | |||||
| Net loss | $ | (24,506 | ) | $ | (7,748 | ) | |
| Stock-based compensation | 25,398 | 16,952 | |||||
| Tax impact of stock-based compensation(1) | 1,066 | (4 | ) | ||||
| Acquisition-related expenses(2) | 1,341 | 2,158 | |||||
| Costs related to intra-entity asset transfers(3) | 838 | — | |||||
| Amortization of acquired intangible assets(4) | 2,427 | 579 | |||||
| Tax impact of acquisitions(5) | (442 | ) | — | ||||
| Tax impact of intra-entity asset transfers(6) | 843 | 2,808 | |||||
| Non-GAAP net income | $ | 6,965 | $ | 14,745 | |||
| Net loss per share, diluted | $ | (0.22 | ) | $ | (0.07 | ) | |
| Stock-based compensation | 0.23 | 0.16 | |||||
| Tax impact of stock-based compensation(1) | 0.01 | — | |||||
| Acquisition-related expenses(2) | 0.01 | 0.02 | |||||
| Costs related to intra-entity asset transfers(3) | 0.01 | — | |||||
| Amortization of acquired intangible assets(4) | 0.02 | — | |||||
| Tax impact of acquisitions(5) | (0.01 | ) | — | ||||
| Tax impact of intra-entity asset transfers(6) | 0.01 | 0.03 | |||||
| Adjustment to diluted earnings per share(7) | — | (0.01 | ) | ||||
| Non-GAAP earnings per share, diluted | $ | 0.06 | $ | 0.13 | |||
| Weighted-average shares used to compute GAAP net loss per share, diluted | 109,524 | 104,531 | |||||
| Weighted-average shares used to compute non-GAAP earnings per share, diluted | 117,155 | 113,934 | |||||
________________
(1) Налоговое воздействие компенсации, основанной на акциях, основано на налоговом режиме для применимых налоговых юрисдикций.
(2) Налоговое воздействие расходов, связанных с приобретением, не является существенным.
(3) Расходы, связанные с передачей активов внутри организации, возникли в результате нашей внутренней реструктуризации Cymp-Tom.
(4) Налоговое воздействие амортизации приобретенных нематериальных активов включается в налоговое воздействие приобретений.
(5) Налоговое воздействие приобретений связано с отложенными налоговыми льготами от приобретения Alsid.
(6) Налоговое воздействие передачи активов внутри организации связано с текущими налоговыми платежами, основанными на применимых израильских налоговых ставках, полученных в результате нашей внутренней реструктуризации Cymp-Tom и Indegy за три месяца, закончившихся 31 марта 2022 и 2021 годов, соответственно.
(7) Корректировка для приведения чистого убытка на акцию по ОПБУ, который исключает потенциально разводняющие акции, в соответствие с прибылью на акцию, не относящейся к ОПБУ, которая включает потенциально разводняющие акции.
| Non-GAAP Gross Profit and Non-GAAP Gross Margin | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| Gross profit | $ | 124,438 | $ | 101,116 | |||
| Stock-based compensation | 1,513 | 937 | |||||
| Amortization of acquired intangible assets | 2,427 | 579 | |||||
| Non-GAAP gross profit | $ | 128,378 | $ | 102,632 | |||
| Gross margin | 78 | % | 82 | % | |||
| Non-GAAP gross margin | 81 | % | 83 | % | |||
| Non-GAAP Sales and Marketing Expense | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| Sales and marketing expense | $ | 81,570 | $ | 58,635 | |||
| Less: Stock-based compensation | 10,065 | 6,296 | |||||
| Non-GAAP sales and marketing expense | $ | 71,505 | $ | 52,339 | |||
| Non-GAAP sales and marketing expense as % of revenue | 45 | % | 42 | % | |||
| Non-GAAP Research and Development Expense | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| Research and development expense | $ | 34,290 | $ | 26,838 | |||
| Less: Stock-based compensation | 6,463 | 4,156 | |||||
| Non-GAAP research and development expense | $ | 27,827 | $ | 22,682 | |||
| Non-GAAP research and development expense as % of revenue | 17 | % | 18 | % | |||
| Non-GAAP General and Administrative Expense | Three Months Ended March 31, | ||||||
| (dollars in thousands) | 2022 | 2021 | |||||
| General and administrative expense | $ | 26,126 | $ | 21,445 | |||
| Less: Stock-based compensation | 7,357 | 5,563 | |||||
| Less: Acquisition-related expenses | 1,341 | 2,158 | |||||
| Less: Costs related to intra-entity asset transfer | 838 | — | |||||
| Non-GAAP general and administrative expense | $ | 16,590 | $ | 13,724 | |||
| Non-GAAP general and administrative expense as % of revenue | 10 | % | 11 | % | |||
Приведенные ниже корректировки для согласования прогнозируемого дохода от операционной деятельности, не относящегося к GAAP, чистой прибыли, не относящейся к GAAP, и прибыли на акцию, не относящейся к GAAP, зависят от ряда неопределенностей и допущений, каждое из которых по своей сути трудно прогнозировать. В результате фактические корректировки и результаты GAAP могут существенно отличаться.
| Forecasted Non-GAAP Income from Operations | Three Months Ending June 30, 2022 | Year Ending December 31, 2022 | |||||||||||||
| (in millions) | Low | High | Low | High | |||||||||||
| Forecasted loss from operations | $ | (28.6 | ) | $ | (27.6 | ) | $ | (90.1 | ) | $ | (86.1 | ) | |||
| Forecasted stock-based compensation | 31.5 | 31.5 | 121.2 | 121.2 | |||||||||||
| Forecasted acquisition-related expenses | 0.4 | 0.4 | 1.7 | 1.7 | |||||||||||
| Forecasted costs related to intra-entity asset transfers | — | — | 0.8 | 0.8 | |||||||||||
| Forecasted amortization of acquired intangible assets | 2.7 | 2.7 | 10.4 | 10.4 | |||||||||||
| Forecasted non-GAAP income from operations | $ | 6.0 | $ | 7.0 | $ | 44.0 | $ | 48.0 | |||||||
| Forecasted Non-GAAP Net Income and Non-GAAP Earnings Per Share | Three Months Ending June 30, 2022 | Year Ending December 31, 2022 | |||||||||||||
| (in millions, except per share data) | Low | High | Low | High | |||||||||||
| Forecasted net loss(1) | $ | (34.3 | ) | $ | (33.3 | ) | $ | (118.1 | ) | $ | (114.1 | ) | |||
| Forecasted stock-based compensation | 31.5 | 31.5 | 121.2 | 121.2 | |||||||||||
| Forecasted tax impact of stock-based compensation | 0.4 | 0.4 | 2.1 | 2.1 | |||||||||||
| Forecasted acquisition-related expenses | 0.4 | 0.4 | 1.7 | 1.7 | |||||||||||
| Forecasted costs related to intra-entity asset transfers | — | — | 0.8 | 0.8 | |||||||||||
| Forecasted amortization of acquired intangible assets | 2.7 | 2.7 | 10.4 | 10.4 | |||||||||||
| Forecasted tax impact of acquisitions | (0.3 | ) | (0.3 | ) | (1.5 | ) | (1.5 | ) | |||||||
| Forecasted tax impact of intra-entity asset transfers | 0.6 | 0.6 | 2.9 | 2.9 | |||||||||||
| Forecasted non-GAAP net income | $ | 1.0 | $ | 2.0 | $ | 19.5 | $ | 23.5 | |||||||
| Forecasted net loss per share, diluted(1) | $ | (0.31 | ) | $ | (0.30 | ) | $ | (1.06 | ) | $ | (1.02 | ) | |||
| Forecasted stock-based compensation | 0.29 | 0.29 | 1.09 | 1.09 | |||||||||||
| Forecasted tax impact of stock-based compensation | — | — | 0.02 | 0.02 | |||||||||||
| Forecasted acquisition-related expenses | — | — | 0.01 | 0.01 | |||||||||||
| Forecasted costs related to intra-entity asset transfers | — | — | 0.01 | 0.01 | |||||||||||
| Forecasted amortization of acquired intangible assets | 0.02 | 0.02 | 0.09 | 0.09 | |||||||||||
| Forecasted tax impact of acquisitions | — | — | (0.01 | ) | (0.01 | ) | |||||||||
| Forecasted tax impact of intra-entity asset transfers | 0.01 | 0.01 | 0.02 | 0.02 | |||||||||||
| Adjustment to diluted earnings per share(2) | — | — | (0.01 | ) | (0.01 | ) | |||||||||
| Forecasted non-GAAP earnings per share, diluted | $ | 0.01 | $ | 0.02 | $ | 0.16 | $ | 0.20 | |||||||
| Forecasted weighted-average shares used to compute net loss per share, diluted | 111.0 | 111.0 | 111.5 | 111.5 | |||||||||||
| Forecasted weighted-average shares used to compute non-GAAP earnings per share, diluted | 119.5 | 119.5 | 119.5 | 119.5 | |||||||||||
________________(1) Прогнозируемый чистый убыток по ОПБУ предполагает расходы по налогу на прибыль в размере 2,3 млн долларов США и 11,5 млн долларов США за три месяца, закончившихся 30 июня 2022 года, и год, закончившийся 31 декабря 2022 года, соответственно.
(2) Корректировка для приведения чистого убытка на акцию по ОПБУ, который исключает потенциально разводняющие акции, в соответствие с прибылью на акцию, не относящейся к ОПБУ, которая включает потенциально разводняющие акции.
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