Tenable Holdings, Inc. (NASDAQ:TENB) Q3 2023 Earnings Call Transcript

Steve Vintz: Yes. Well, the net dollar expansion rate was 111%. So consistent with what we saw in the prior quarter. Keep in mind, the NDRR is an LTM number. It reflects the culmination of sales and upgrades over the prior quarters. And I think it’s fair to say that the market was a little stronger last year than it is this year. So we’re certainly encouraged to see it continue to be at 111%. There could be further moderation in the rate. It could also increase. We don’t optimize the business for any one metric. I think that’s important to note. And pipeline opportunities in any given quarter can fluctuate between new logos and upsell opportunities. So certainly, there can be some variability here but we wanted to provide transparency and we’ve report it quarterly.

And I think that’s important. So the good news is gross — the noise themselves are very strong. And when customers renew, they expand more, and we expect continued expansion as we move along here, not only for Q4 but also for the full-year.

Operator: Mr. Calitri?

Matthew Calitri: Yes, great, Thanks so much.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.