Why did TENB's EPS surprises increase each quarter?

Tenable's EPS has not shown a consistent increase each quarter. In fact, the latest report period for Tenable is for Q4 2024, and there are no available data on the EPS for this quarter. However, Tenable's EPS has been under pressure due to several factors:

1. **Revenue Growth**: Tenable's revenue has been growing, but the company's EPS has not kept up with this growth. For example, in Q4 2024, Tenable's revenue exceeded analysts' expectations by 1.8%, reaching $235.7 million, an increase of 10.5% year-over-year. Despite this growth, the company's EPS guidance for the next quarter fell short of analysts' expectations.
2. **Expense Management**: Tenable's EBITDA estimates were beaten, but the company's EPS guidance for the next quarter was below expectations. This suggests that the company's expenses, possibly including salaries, rent, and other overhead costs, are putting pressure on the EPS. The company's gross profit margin is impressive at 78%, but other expenses are likely eating into the net income, thereby affecting the EPS.
3. **Stock Price Movement**: Tenable's stock price has experienced a significant decline of 15.3% since reporting. This drop could be a result of market reactions to the earnings report, investor sentiment, or broader market conditions. A lower stock price can lead to a lower EPS when the number of outstanding shares remains constant or increases due to dilution from stock issuances.
4. **Industry Dynamics**: The cybersecurity industry is highly competitive, and Tenable faces challenges from other players offering similar solutions. The company's efforts to build and maintain partnerships and the lack of immediate financial impact from government authorizations could also affect its profitability and, consequently, its EPS.

In conclusion, Tenable's EPS has not shown an increase each quarter, and the company's EPS is likely being impacted by the need to manage growth, control expenses, and navigate competitive pressures in the cybersecurity sector.