Tenable Holdings Inc
NASDAQ:TENB
Tenable Holdings Inc
In the sprawling landscape of cybersecurity, Tenable Holdings Inc. has carved out a significant niche, driven by the increasing complexity of digital networks and the relentless rise of cyber threats. Founded in 2002, the company focuses on vulnerability management, offering its clients insights into where their digital infrastructures might be at risk. This becomes critical as organizations rely heavily on interconnected systems, from cloud applications to on-premise servers, and everything in between. Tenable's flagship product, Nessus, has become synonymous with vulnerability scanning, enabling businesses to proactively identify and mitigate security risks before malicious actors can exploit them.
Tenable generates revenue through a subscription-based model, catering to enterprises of all sizes with a flexible, scalable approach. By offering both on-premises and cloud-based solutions, Tenable ensures that its services adapt to the evolving needs of its customers. The company has expanded its product portfolio beyond Nessus with offerings like Tenable.io and Tenable.sc, which provide wider capabilities such as continuous visibility and predictive prioritization. This suite not only helps in maintaining compliance and governance standards but also supports proactive risk management. Tenable's business model thrives on the increasing regulatory scrutiny and the growing awareness among businesses of the importance of comprehensive cybersecurity practices, making its solutions indispensable in the current digital era.
In the sprawling landscape of cybersecurity, Tenable Holdings Inc. has carved out a significant niche, driven by the increasing complexity of digital networks and the relentless rise of cyber threats. Founded in 2002, the company focuses on vulnerability management, offering its clients insights into where their digital infrastructures might be at risk. This becomes critical as organizations rely heavily on interconnected systems, from cloud applications to on-premise servers, and everything in between. Tenable's flagship product, Nessus, has become synonymous with vulnerability scanning, enabling businesses to proactively identify and mitigate security risks before malicious actors can exploit them.
Tenable generates revenue through a subscription-based model, catering to enterprises of all sizes with a flexible, scalable approach. By offering both on-premises and cloud-based solutions, Tenable ensures that its services adapt to the evolving needs of its customers. The company has expanded its product portfolio beyond Nessus with offerings like Tenable.io and Tenable.sc, which provide wider capabilities such as continuous visibility and predictive prioritization. This suite not only helps in maintaining compliance and governance standards but also supports proactive risk management. Tenable's business model thrives on the increasing regulatory scrutiny and the growing awareness among businesses of the importance of comprehensive cybersecurity practices, making its solutions indispensable in the current digital era.
Revenue Beat: Tenable exceeded guidance with Q4 revenue of $260.5 million, up 10.5% year-over-year, driven by strong renewals and new business.
Platform Momentum: Tenable One, the company’s AI-powered exposure management platform, reached a record 46% of new and expansion business, signaling accelerating adoption.
Profitability: Operating margin rose to 24.4% in Q4 (up 140 bps YoY), and EPS increased 17.1% to $0.48, reflecting disciplined execution and margin expansion.
AI Exposure Tailwinds: AI-related security is now a major demand driver, including the company's first 7-figure AI exposure deal, and AI is central to customer conversations.
2026 Guidance: Projected 2026 revenue of $1.065–$1.075 billion (up 7.1% YoY at midpoint), with continued margin expansion and unlevered free cash flow of $285–295 million.
Share Repurchases: Board approved a $150 million increase in share repurchase authorization, bringing the total to $338 million.
Federal Sector: Federal business is expected to perform in line with company growth, with no major headwinds anticipated.
