TUFN - Tufin beats estimates but guides Q3 revenue below consensus

Tufin (NYSE:TUFN) up 2% premarket following Q2 results beat top and bottom-line estimates. Q2 revenue rose 11% Y/Y to $25.7M with a $11.4M operating loss. Product revenue rose 23% to $9.7M. Maintenance and professional services increased 6% to $16.0M. Non-GAAP operating loss was $7.6 million, compared to $4.5 million last year. Total cash, cash equivalents, restricted cash and marketable securities as of June 30, 2021, were $101.9 million, compared to $104.0 million as of December 31, 2020. Tufin sees Q3 revenues between $23.5-27.5 million vs. a consensus of $27.96 million; Non-GAAP operating loss between $10.3-$6.9 million. For full-year, sees revenue between $105-113 million vs. a consensus of $107.4 million; Non-GAAP operating loss between $30.4-$23.6 million. Previously (Aug. 11): Tufin Software Technologies EPS beats by $0.09, beats on revenue

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Tufin beats estimates, but guides Q3 revenue below consensus