On February 1, Tenable Holdings Ltd. (TENB) declared its financial results for Q4 and full-year 2021. Along with that, the company also announced its agreement for acquiring Cymptom. Consequently, the stock was up by 4.62% in the after-hours on Tuesday.
Before the announcement of the news, the stock had a per-share price of $51.92 at the close of regular trading. TENB kept in the green in the regular session with a slight gain of 1.01% at a volume of 1.4 million shares. Following the announcement, the stock reached up to $54.32 at an after-hours volume of 54.52K shares.
The security software solutions developer, Tenable Holdings Ltd. was founded in 2002. Currently, the company has a market capitalization of $5.52 billion. Its 107.44 million outstanding shares have added 13.07% in the past five days. Moreover, TENB has declined by 5.72% year to date while it added 11.20% last year.
TENB’s Financial Report
On Tuesday, the company reported revenue of $149 million and $541.1 million for Q4 and full-year 2021, respectively. Therefore, the Q4 revenue increased by 26% YOY, while the full year 2021 revenue grew by 23% YOY.
Furthermore, the non-GAAP net income for Q4 and full-year 2021 was $5.9 million and $38.9 million, respectively. This compares to non-GAAP net income of $14.4 million and $20 million in Q4 and full-year 2021, respectively.
Additionally, the non-GAAP EPS was $0.05 and $0.34 in Q4 and full-year 2021, respectively.
Cymptom Acquisition Agreement
As per Tuesday’s announcement, the company has signed an agreement for the acquisition of a leader in attack path management, Cymptom.
Led by Defense Force veterans of Israel along with white hat hackers, Cymptom manages attack paths in cybersecurity. It identifies exploitable attack and breach pathways.
Risk prioritization and cyber security have become of utmost importance in this increasingly digitalized modern world. With the close of the deal, Cymptom’s analytics will be added to TENB’s Tenable.ep, Tenable’s Exposure Platform. Thus, resulting in the provision of an always-on view of every attack path. This will not only bring additional context but also prioritizations capabilities to the company’s platform.
Moreover, the company expects to close the acquisition deal in the first quarter of 2021.
Conclusion
As announced on Tuesday, the company’s earnings beat its expectations along with another positive step of Cymptom’s acquisition. While the company is already doing well on its own, the addition of Cymptom’s features to its own cybersecurity details will boost its performance. Thus, the accelerations of the company’s mission with the acquisition of Cymptom and its strong financials caused the stock to go up in the after-hours on Tuesday.
