| --- | --- | |-----------------------------------------------------------------------------------------------|-------| | | | | | | | REFINITIV STREETEVENTS EDITED TRANSCRIPT TENB.OQ - Q4 2021 Tenable Holdings Inc Earnings Call | | | EVENT DATE/TIME: FEBRUARY 01, 2022 / 9:30PM GMT | | | REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us | | | | | ©2022 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the ...

Financial Data and Key Metrics Changes - Revenue for Q4 was $149 million, representing a 26% year-over-year growth, exceeding the midpoint of guidance by $5 million [28] - Calculated current billings (CCB) grew 29% year-over-year to $194 million, with a notable acceleration from 20% in Q1 to 29% in Q4 [29][30] - The company finished the year with $541.1 million in revenue, a 23% growth year-over-year [28] Business Line Data and Key Metrics Changes - The company added 562 new enterprise platform customers in Q4, a record for a single quarter, and 100 net new six-figure customers, also a record [11][32] - Exposure solutions, including Tenable.io and Tenable.ep, continued to gain traction, driven by customer needs to assess risk across various assets [33] - Accurics' contribution to CCB in Q4 was nominal as the acquisition closed in the same quarter, but it is expected to enhance cloud capabilities moving forward [33][34] Market Data and Key Metrics Changes - The company experienced strong performance across all geographies and both new and renewal business [30] - 86% of enterprises are expected to increase spending on active directory security in 2022, indicating a growing market opportunity [15] - The company noted a significant uptick in expansion rates following the discovery of Log4j, highlighting increased customer demand for coverage [30] Company Strategy and Development Direction - The company aims to integrate new capabilities into its unified exposure platform (EP), enhancing analytics and providing a holistic risk assessment [78] - Recent acquisitions, including Accurics and Cymptom, are expected to strengthen the product suite and expand into strategic markets [21][52] - The focus remains on balancing growth with profitability, with a long-term goal of becoming a rule of 50 company [53] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook for 2022, citing strong performance in Q4 and the full year [50] - The guidance for CCB growth in 2022 is set at 22% to 23%, with some continued tailwinds from Log4j expected in Q1 [51] - Management emphasized the importance of understanding cyber risk in a holistic manner, integrating various exposure solutions [24] Other Important Information - The company achieved a gross margin of 82% for Q4, with expectations for modest impacts on margins due to ongoing investments [35][36] - The company finished the quarter with $512 million in cash and short-term investments, providing strong visibility for 2022 [45] - The company generated $22.4 million of unlevered free cash flow in Q4, totaling $95.2 million for the year, a significant increase over 2020 [46] Q&A Session Summary Question: What was the impact of Log4j in Q4 and expectations for 2022? - Management noted that Log4j surfaced in December, contributing to strong renewal and expansion sales, particularly in the mid-market [58][60] - For 2022, the guidance reflects continued tailwinds from Log4j in Q1, with more modest contributions expected throughout the year [61] Question: Can you provide insight on the impact of Accurics and Cymptom on revenue guidance for 2022? - Management indicated that Accurics will contribute more significantly in the second half of the year, while Cymptom will be integrated into existing products [66][67] Question: What are the expectations for gross margins moving forward? - Management expects gross margins to track modestly lower from Q4 levels due to continued investments, but potential improvements could arise from better-than-expected top-line performance [68][69] Question: How is the bundling strategy for EP performing? - Management reported rapid adoption of EP, with a natural progression to include active directory and cloud capabilities, enhancing the overall value proposition [72][74] Question: What is the current competitive landscape for Tenable? - Management highlighted strong differentiation in the market, particularly in response to high-profile vulnerabilities like Log4j, which has increased visibility and demand for their solutions [102][104]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM 10-Q __________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission file number 001-38600 __________________ TENABLE HOLDINGS, INC. (Exact name of registrant as specifie ...

| --- | --- | --- | --- | |--------------|------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CYBER EXPOSURE | | | | | | | | | ࠀࠁ߿ࠁ October | MANAGING AND MEASURING CYBER RISK IN THE DIGITAL ERA | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements This presentation includes forward-looking statements. All statements contained in this pr ...

Financial Data and Key Metrics Changes - Revenue for Q3 2021 was $138.7 million, representing a 23% year-over-year growth, exceeding the midpoint of the guided range by $4.7 million [24] - Calculated current billings (CCB) grew 25% year-over-year to $166.9 million, up from 23% growth reported last quarter [24][25] - Gross margin was 83%, up one point from the previous quarter, with expectations to remain at current levels in Q4 [33][34] - EPS in Q3 was $0.07, which was $0.05 better than the midpoint of the guided range [39] Business Line Data and Key Metrics Changes - Tenable AD and OT products showed notable traction, contributing several points of growth in Q3 [28][29] - Cloud products, including Tenable.io and Tenable.ep, represented over 50% of total new sales, with growth rates for these products exceeding the overall company growth rate [26][27] - The public sector business accounted for 17% of total company sales, benefiting from a favorable spending environment [30] Market Data and Key Metrics Changes - The company added 499 new enterprise platform customers in Q3, a record for any single quarter, and 62 net new six-figure customers [25] - The demand environment in the public sector has been strong, driven by executive orders and legislative proposals [66] Company Strategy and Development Direction - The company is focused on integrating new products into a unified platform to enhance capabilities and customer value [19][18] - A global strategic partnership with Splunk was announced to secure Active Directory and converged OT environments [13] - The acquisition of Accurics is expected to significantly enhance cloud capabilities and support a shift-left approach in security [14][105] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business environment, expecting Q4 revenue to be in the range of $143 million to $145 million [42] - The company anticipates continued strong demand for its products, particularly in the context of heightened cybersecurity threats [72] - Management highlighted the importance of securing Active Directory as a critical area of focus, especially in light of recent high-profile attacks [71] Other Important Information - The company plans to hold a virtual Investor Day on December 15, providing further insights into product momentum [21] - The company has a strong cash position with $652 million in cash and short-term investments, including $336 million from a recent credit facility [40] Q&A Session Summary Question: Regarding the seven-figure win with the OT product - The win was with an existing VM customer who expanded their purchase to include AD and OT components, resulting in a several hundred thousand dollars ACV increase [52] Question: Contribution of cloud sales to overall revenue - Cloud products accounted for over 50% of new sales, with strong demand driven by digital transformation initiatives [54] Question: Organic vs. inorganic growth in revenue - Revenue growth was a combination of both organic strength and contributions from newly acquired products, particularly AD and OT [58] Question: Future of federal spending and its impact - The company expects continued strong performance in the federal market, supported by a heightened awareness of cybersecurity [66] Question: Adoption rates of new products within the installed base - The company is seeing positive trends in net dollar expansion rates, indicating strong adoption of new products among existing customers [81] Question: Bundling strategy for products like EP - The company has seen strong traction with EP, which integrates various products to create unique value propositions for customers [88] Question: MSSP channel investments and their impact - The MSSP channel is viewed as a long-term growth opportunity, with new partnerships contributing positively to sales [99]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM 10-Q __________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission file number 001-38600 __________________ TENABLE HOLDINGS, INC. (Exact name of registrant as specified in ...

Tenable Holdings, Inc. (NASDAQ:TENB) Q2 2021 Earnings Conference Call July 27, 2021 4:30 PM ET Company Participants Erin Karney - Senior Director of Investor Relations Amit Yoran - President, Chief Executive Officer & Chairman Stephen Vintz - Chief Financial Officer Conference Call Participants Brian Essex - Goldman Sachs Hamza Fodderwala - Morgan Stanley Rob Owens - Piper Sandler Sterling Auty - JPMorgan Saket Kalia - Barclays Mike Cikos - Needham & Company Jonathan Ho - William Blair Joelle Fishbein - Tru ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q __________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission file number 001-38600 __________________ TENABLE HOLDINGS, INC. (Exact name of registrant as specified in its charter) _____ ...

| --- | --- | --- | --- | |-------|----------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | A | | | | | | A | | | | *,!&D5D6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements This presentation includes forward-looking statements All statements contained in this presentation other than statements of historical facts, including statements regardin and financial position, our business strategy and plans and o ...

Financial Data and Key Metrics Changes - Revenue for Q1 2021 was $123.2 million, representing a 20% year-over-year growth, exceeding the midpoint of the guided range by approximately $4 million [25] - Calculated current billings (CCB) grew 20% year-over-year to $119.5 million [27] - Non-GAAP earnings per share (EPS) was $0.13, which was $0.08 better than the midpoint of the guided range [34] - Free cash flow for the quarter was $37.6 million, significantly up from $3.9 million in Q1 last year [36] Business Line Data and Key Metrics Changes - The company added 331 new enterprise platform customers, up from 319 in Q1 of the previous year [26] - The number of customers spending over $100,000 annually increased by 30% year-over-year to 866 [27] - The launch of Tenable.ep and the acquisition of Alsid contributed to strong cross-sell opportunities [13][17] Market Data and Key Metrics Changes - The company noted strong demand for both new and renewal business, particularly in the mid-market segment [28] - The mid-market represented about 25% of total sales, with shorter sales cycles compared to large enterprises [48] - Recent high-profile security breaches have heightened the demand for comprehensive vulnerability management solutions [12][19] Company Strategy and Development Direction - The company is focusing on a holistic approach to Cyber Exposure, integrating various products into a unified platform [14][20] - The acquisition of Alsid is expected to enhance the company's capabilities in Active Directory security, addressing a critical area of vulnerability [17][18] - Partnerships with IBM and HCL BigFix are aimed at enhancing the company's competitive position and expanding its ecosystem [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business environment, citing pent-up demand and a shift towards digital transformation as key drivers [28][49] - The company anticipates continued growth in the federal market, supported by increased funding for cybersecurity initiatives [63] - The outlook for Q2 2021 includes expected revenue in the range of $124 million to $126 million, reflecting a positive business environment [40] Other Important Information - The company published a corporate social responsibility report to support its environmental, social, and governance initiatives [8] - Management highlighted the importance of understanding cyber risk across the entire enterprise, especially in light of recent security incidents [43] Q&A Session Summary Question: What factors are influencing the change in demand? - Management noted that digital transformation and the complexity of new operating environments are driving demand [46] Question: How are sales cycles changing? - Sales cycles are shorter in the mid-market, contributing to strong performance in that segment [48] Question: What is the competitive landscape like? - The company continues to compete favorably with Rapid7 and Qualys, with a notable uptick in sales in the commercial market [75] Question: How does Tenable.ad fit within the portfolio? - Tenable.ad is integral to the strategy, focusing on securing Active Directory environments, which are critical targets for adversaries [70][72] Question: What is the expected impact of Tenable.ep on deal sizes? - Tenable.ep is expected to command a 60% uplift in pricing compared to core VM offerings, enhancing the company's ability to sell broader product suites [55][90]