you. Thank
are I year positive growth top a earlier, line operating on note strong very As will Amit the provide margin. more we to cap mentioned commentary and with pleased momentarily.
First, please measures, financial discuss non-GAAP of today operating we are note the that with exception revenue. all results
at start may As Erin reconciliations to found mentioned release the today. issued of call, earnings non-GAAP this GAAP our on earlier be
operations X. Ermetic, from reflect reminder, October closed our which financial a results the As of results
Exposure Solutions, One, sales. XX% XX% cloud well Now of on revenue, recognized in revenue include current and One as security, Calculated benefited of Tenable quarter deferred Tenable to in stand-alone quarter. from the billings, reflects year-over-year change the defined resources, the was to $XXX.X sales. million current insights XX% and new the business total as which in identity grew plus web help our as security security, for which results technology sales platforms intelligence. continued This assets, cloud vulnerability operational to and IT OT enterprise asset and of management and customers traction apps our threat ability platform and total exposure across data translate and represented identity into actionable our new
as contributed Ermetic X our product in was platforms cloud to integrating security expected, CCB primary minimally As focus the QX.
timing, number to such mix prior influenced a perfect is as and correlated closely factors, the including XX%. renewals. early current of sales is growth deal in more of mentioned not I've the typically on RPO for proxy As Notably, quarter but close calls, in CCB a business, quarter TCB by of was
is higher. from quarter, added produced the of new Mid-market inclusive stabilized customers XXX the customers quarter. terms helping key upside, in XXX added metrics, CCB platform enterprise and sequentially which quarter this beta In up we of new inflect modest our we last customers, platform
added Xx customers reported is that XXX last large quarter. than new terms more number higher QX, X-figure In and is -- than we of deals, what net in we
exceeded an XX% the less rate is $XXX.X of in from in quarter. which expansion was was net reminder, expense LTM revenue. dollar-based quarter the XXX% primarily a the $X.X consistent is rate million. the range revenue And on the Revenue quarter, represents than of X% last Revenue was from acquired Our was our midpoint guidance the derived with total million, as and by year-over-year deferred calculated in which Revenue basis. quarter growth. Ermetic
remains of Our this at is quarter, revenue high XX% prior consistent with periods. which recurring percentage
I'll turn expenses to now.
this to approximately and quarter was gross margin, basis expected. compared with XX% XX% start than XXX quarter last points which better Let's
ours. we public previously cloud integrating As discussed, infrastructure Ermetic's are into
the exceeded helped additional last While and XX%, quarter. this year. process Gross for full progress higher in introduces gate the margin has the been the with and out costs, consistent strong our expectations margins initial of some year was drive
to to functionality new our add One we we expect ahead, cloud as range security XX% offering. the be continue and intelligence low gross margins Tenable XXs, in Looking and high to stand-alone
million $XX was the marketing from quarter. up was which due percentage a Sales higher as marketing and million, $XX.X marketing of base and to in quarter. last fourth increased variable XX% sales revenue quarter incremental to costs, renewal Sales was compensating XX% our performance expense marketing compared build expenses and our and and in Sales to brand expense sales personnel quarter. investments to last seasonally increased and commissions in and primarily attribute higher strong to the sequentially
full and For down basis as improvement. last XX%, was year, a marketing point XXX representing sales from revenue the year, expense a XX% of percent
that to was increased a Ermetic R&D due quarter. compared quarter increased cloud to expense R&D primarily expense offset to R&D costs revenue compared flat this and last $XX.X was personnel, costs credits. million, of expense XX% tax facility public R&D by percentage last foreign was which sequentially quarter. was as XX%
year, a up from of revenue flat as which quarter. from $XX.X was of year, in last percentage expense X% the XXXX. down million, to full the year. to expense G&A and revenue was million a X% was quarter For XX% XX% this last R&D last compared $XX.X for was percentage as was G&A expense expense full G&A XX% relative quarter.
will continue basis on of business. in an investments make scale absolute growth G&A to to dollar our the and support We
relationships on earnings which the reflects of points those guided investing X% in Income Operating our quarter the with to the ability expectations a than and XXX better for was from year XXX points the in $XX.X our sizable Operating that the a was from last including a XX%, cost XXX successful was quarter year. very from the reported exceeded and the business our over significantly million. basis operations while our was XX%, was basis point guidance. margin $XX.X significant full effectively midpoint range our than which better reflects XXXX upside expansionary operating of into increase which ability for opportunities, represents expand this we margin basis midpoint M&A and executing all also in time. expected by acquire is increase our TAM effectively This better of year margin than customers going model balance strength million, and was profitability, This and to growth strategy.
resulted in which range. guided was $X.XXX our this of of EPS All $X.XX, midpoint approximately better of the than
Now last revenue, full renewal million year, of cash total unlevered and $XXX gives cash ensuing was expand margins paying year. receivable $XXX.X during XX free let's continue $X and million, million, flow margins is turn $XXX.X next deferred million confident to cash million operating quarter and cash Accounts flow in balance in After $XXX.X quarter from Current revenue was we revenue into us With we the revenue including finished the free high from million visibility and million, deferred up and for million rates, deferred was that the $XX.X sheet. we Ermetic, generated a million $XXX.X of for Ermetic. which the $XXX.X lot over acquired with investments. over the $XXX months. of the margins short-term our can feel which recurring XX% revenue gross to net years. We
Also which aggregate an we $XX.X share a million $XXX price repurchase with to purchase million. pursuant announced of common repurchased of in shares XXX,XXX November, program, stock we
taking as factors. approach of to our are offsetting [crate] We the evaluate other the a of common to our based program forward stock valuation partially as and going share continue on well we'll programmatic size
quarter like to I'd behind our the us, discuss With of outlook. the XXXX results
million, the million of million; to non-GAAP taxes to non-GAAP first the diluted million $XX $XXX be interest range quarter, $XX to weighted $X.X income the of a million; currently of million provision income of $X.XX per $XXX to range of in $X.X million outstanding. and in to million; XXX range assuming expense diluted $XX $X.X we operations net of fully million million, expect share in For be be in be from to the assuming range revenue interest to for income non-GAAP earnings income to shares average $XX of the $X.XX,
$XXX non-GAAP to assuming provision million, interest full and for million; in diluted expense of to of current be in the in operations of of the $XXX average million we to the the million, income range outstanding; year, of of to currently million $XXX calculated cash be $XXX range taxes million; $XX.X non-GAAP to income revenue in to $X.XX interest $XX.X $XXX assuming share for in $XXX $XXX the non-GAAP $XXX to be $XX.X billings And a million; million. range range to $XXX the be to share, be million from million million $X.XX to million range million expect flow shares income of a in weighted to the XXX of million; income $XXX net per to free of fully earnings diluted be unlevered and range
provide regarding our outlook Now I'd commentary some today. like to
for XX% full consistent call. XX% year, our is guide I CCB a to last of represents during the comments directional growth with range which the made Our
course In during terms accelerate flow, year pipeline of Ermetic to and we the opportunities we to offering. quarterly integration more modestly for CNAPP of finalize our growth expansive expect the continue as product the build
XXX the which the also range, margin guidance basis year. at the in midpoint prior a an reflects today Our XX% over improvement is to XX% operating point
the the the margin same of the spending more second half seasonal incremental year. operating year, the years We investment in also higher expect of to follow resulting half prior weighted as first patterns with in in
$XX.X by to initial these some Amit that provide and to the Accordingly, in is impairment the strong place It's a quarter in $XX.X restructuring of of Please results. all a to in reduction the for negotiations clarifying in which that on noncash force portion or million are million, restructuring currently non-GAAP excluded spoke we Further, million recognize plan optimization related estate, impact model which noting expenses expect from want are recognized $X the earlier. $X.X benefited note to to could charge million. This the our sublease real I an remarks a $X expenses to of is we to the our million million guide costs. quarter restructuring took first worth of in in $X $X total January. the costs fourth bringing million additional of year, that result
restructuring in for the a And XXXX, outlay cash terms $X the million to related million of to for flow includes reduction our guidance $X charges. cash
cash of will flows million when October provided pro XXXX normalized with also consideration to be that unlevered charges of call be million guide a represents business. such these flow of to on $XXX considering $XXX While the not the It's the forma to purposes, cash $XXX $XXX of should into the when $XX cash million worth initial free the I of for doubling million determining noting associated that guidance given acquisition. Ermetic our treatment million from taken million $XX dilution amounts our flow
expect margin from point. generally typical Looking update with to of our vary not flow to Also, the quarter-to-quarter. plan can as seasonal collections as and ahead, we cash unlevered for year, payments the quarterly, a the reminder, free free timing we QX guide as low flow ramp cash do
turn comments. expected this be call. over is on Amit the time, midyear call QX our update some next like for to Our At to to I'd closing
