Financial Performance - Revenue for Q1 2025 was $239.1 million, an 11% increase year-over-year[6] - Calculated current billings for Q1 2025 were $215.4 million, up 9% year-over-year[6] - GAAP net loss for Q1 2025 was $22.9 million, compared to a net loss of $14.4 million in Q1 2024[7] - Non-GAAP net income for Q1 2025 was $44.3 million, compared to $30.4 million in Q1 2024[7] - Total revenue for the three months ended March 31, 2025, was $239,137,000, representing a 10.8% increase from $215,961,000 in the same period of 2024[33] - Net loss for the three months ended March 31, 2025, was $22,935,000, compared to a net loss of $14,386,000 in the same period of 2024[32] - Non-GAAP income from operations was $48,677,000 for the three months ended March 31, 2025, compared to $37,008,000 in 2024, reflecting a non-GAAP operating margin of 20%[35] Cash Flow and Liquidity - Cash and cash equivalents at March 31, 2025, were $460.3 million, down from $577.2 million at December 31, 2024[7] - Net cash provided by operating activities was $87.4 million, compared to $50.3 million in Q1 2024[7] - Free cash flow for the three months ended March 31, 2025, was $80,230,000, an increase from $47,129,000 in the prior year[33] - Forecasted net cash provided by operating activities for the year ending December 31, 2025 is estimated to be between $256.0 million and $266.0 million[43] Customer Growth - The company added 361 new enterprise platform customers and 54 net new six-figure customers in Q1 2025[7] Acquisitions - Tenable completed the acquisition of Vulcan Cyber Ltd., enhancing its exposure management platform[7] Future Projections - For Q2 2025, the company expects revenue in the range of $241.0 million to $243.0 million[5] - Forecasted non-GAAP income from operations for Q2 2025 is estimated between $43.0 million and $45.0 million[40] - Forecasted non-GAAP net income for Q2 2025 is projected to be between $36.0 million and $38.0 million[41] - Forecasted free cash flow for the year ending December 31, 2025 is expected to be between $238.0 million and $248.0 million[43] - Forecasted unlevered free cash flow for the year ending December 31, 2025 is projected to be between $265.0 million and $275.0 million[43] - Stock-based compensation for the year ending December 31, 2025 is forecasted at $196.0 million[41] Financial Position - Remaining performance obligations totaled $882,245,000 as of March 31, 2025, up from $742,411,000 in the prior year[33] - Total assets decreased to $1,693,577,000 as of March 31, 2025, from $1,742,119,000 at the end of 2024[30] - Total liabilities were $1,310,416,000 as of March 31, 2025, compared to $1,342,165,000 at the end of 2024[30] Profitability Metrics - Non-GAAP gross profit for Q1 2025 was $195.856 million, up from $174.680 million in Q1 2024, reflecting a growth of 12.0%[39] - Non-GAAP gross margin improved to 82% in Q1 2025, compared to 81% in Q1 2024[39] - Non-GAAP sales and marketing expense as a percentage of revenue decreased to 36% in Q1 2025 from 39% in Q1 2024[39] - Non-GAAP research and development expense increased to $39.017 million in Q1 2025, up from $32.586 million in Q1 2024, representing a growth of 19.6%[39]

Core Insights - Tenable Holdings, Inc. reported strong financial results for Q1 2025, with revenue of $239.1 million, an 11% increase year-over-year, and calculated current billings of $215.4 million, up 9% year-over-year [6][7][34]. Financial Highlights - Revenue for Q1 2025 was $239.1 million, compared to $215.9 million in Q1 2024 [6][24]. - GAAP operating margin was (7)%, while Non-GAAP operating margin was 20% [6][39]. - Net cash provided by operating activities was $87.4 million, an increase from $50.3 million in Q1 2024 [6][32]. - Unlevered free cash flow reached $86.8 million, up from $54.7 million in the same quarter last year [6][34]. Business Developments - The company added 361 new enterprise platform customers and 54 net new six-figure customers during the quarter [6][7]. - Tenable completed the acquisition of Vulcan Cyber Ltd., enhancing its exposure management platform [6][7]. - The company released new capabilities, Identity 360 and Exposure Center, aimed at addressing identity risks [6][7]. Financial Outlook - For Q2 2025, Tenable expects revenue in the range of $241.0 million to $243.0 million [5]. - For the year ending December 31, 2025, the company anticipates revenue between $970.0 million and $980.0 million [11]. Market Position - Tenable serves approximately 44,000 customers globally, focusing on reducing cybersecurity risks through its AI-powered exposure management platform [9].

Core Insights - Tenable has appointed Eric Doerr as Chief Product Officer, bringing nearly three decades of experience in security product development from companies like Microsoft and Google Cloud [1][2][3] - Doerr will lead Tenable's global product organization, focusing on strategy, innovation, and execution, particularly as the company prepares to launch an expanded version of its Tenable One platform [2][3] - The appointment aligns with Tenable's momentum in cloud security and its vision for unified cybersecurity management across various attack surfaces [3][4] Company Overview - Tenable is recognized as an exposure management company, aiming to close cybersecurity gaps that can undermine business value and trust [5] - The company serves approximately 44,000 customers globally, providing an AI-powered platform that enhances security visibility and action across diverse environments [5]

Market Reaction - The stock market is experiencing a significant upward reaction due to Trump's commitment to retain Fed Chair Powell until the end of his term [1] - The market is also responding positively to potential options for de-escalating the trade war with China [1] Analyst Background - Gary Alexander has extensive experience covering technology companies on Wall Street and working in Silicon Valley [1] - He has served as an outside adviser to several seed-round startups, providing insights into current industry themes [1] - Alexander has been a contributor on Seeking Alpha since 2017 and has been quoted in various web publications [1]

Core Insights - Tenable Vulnerability Management has been recognized as the AI-Powered Vulnerability Management category winner for the 2025 Cybersecurity Excellence Awards, highlighting its leadership in the industry [1] - The solution is designed to help organizations proactively identify, assess, and remediate vulnerabilities across an expanding attack surface, utilizing machine learning and advanced analytics [2][5] Company Innovations - Tenable is innovating its use of AI to enhance customer efficiency and resource allocation towards preventing successful attacks, as stated by the co-CEO [3] - The company has introduced several AI security capabilities, including the Tenable Vulnerability Priority Rating (VPR), which uses machine learning for dynamic risk scoring [6] - Tenable ExposureAI offers generative AI capabilities for faster analysis and decision-making, leveraging the world's largest repository of contextual exposure data [6] Upcoming Events - Tenable will be present at the RSA Conference 2025, where the co-CEO will deliver a keynote address on the future of risk reduction through exposure management [4]

Core Insights - Tenable has appointed Steve Vintz and Mark Thurmond as co-CEOs on a permanent basis after a successful interim period, reflecting the Board's confidence in their leadership [1][3] - The co-CEO structure will allow Vintz to oversee product, cybersecurity, corporate development, and administrative functions, while Thurmond will manage go-to-market functions including sales and marketing [2][4] - Under their interim leadership, Tenable expanded its customer base and adopted the Tenable One Exposure Management platform, along with the strategic acquisition of Vulcan Cyber to enhance its product offerings [3][5] Company Leadership - Steve Vintz has been the Chief Financial Officer since 2014, and Mark Thurmond has served as Chief Operating Officer since 2020, bringing extensive industry experience to their new roles [2][4] - The Board of Directors, led by Chairman Art Coviello, expressed confidence in Vintz and Thurmond's collaborative leadership style and customer-first approach [3] Strategic Developments - Tenable has seen strong adoption of its Tenable One Exposure Management platform and growing momentum in Tenable Cloud Security during the interim leadership [3] - The acquisition of Vulcan Cyber is expected to significantly enhance Tenable's product roadmap, leading to the launch of a more comprehensive exposure management platform [3]

Company Announcement - Tenable will release its financial results for the first quarter ended March 31, 2025, after the U.S. market close on April 29, 2025 [1] - A conference call will be held on the same day at 4:30 p.m. ET to discuss the results [1] Investor Relations - A live webcast of the conference call will be available on the Tenable Investor Relations website [2] - Domestic dial-in number for the call is 1-877-407-9716, and the international dial-in number is 1-201-493-6779 [2] - An archived replay of the call will be available following the event [2] Company Overview - Tenable is an exposure management company focused on closing cybersecurity gaps that affect business value, reputation, and trust [3] - The company offers an AI-powered exposure management platform that unifies security visibility, insight, and action across various attack surfaces [3] - Tenable serves approximately 44,000 customers globally, helping to reduce business risk associated with security exposure [3]

Core Insights - Tenable has achieved FedRAMP authorization at the Moderate impact level for its Tenable One Exposure Management Platform and Tenable Cloud Security, highlighting its commitment to enhancing government infrastructure and reducing cybersecurity risks [1][2]. Group 1: Product Offerings - Tenable One FedRAMP is a cloud-based exposure management platform that provides unified visibility into all asset types, assessing exposures and vulnerabilities across the entire attack surface [3]. - Tenable Cloud Security FedRAMP is designed to help federal agencies strengthen their cloud infrastructure by identifying and mitigating security gaps caused by misconfigurations and vulnerabilities [4]. Group 2: Strategic Positioning - Tenable is recognized as a trusted partner for the federal government, with a strong understanding of the unique needs and requirements of the public sector [2][5]. - The recent FedRAMP authorizations follow the announcement of Tenable Enclave Security, which caters to customers in highly secure environments, supporting stringent security requirements [2]. Group 3: Commitment to Innovation - The FedRAMP authorization reflects Tenable's dedication to innovation and the accelerated adoption of cloud technologies within the U.S. government [5]. - The company aims to collaborate with federal agencies to enhance their security approaches and reduce cyber risks [5].

Core Points - Tenable has been awarded the prestigious 5-Star Award by CRN in the 2025 Partner Program Guide, recognizing its strong partner program [1][2] - The 5-Star Award is given to companies that excel in nurturing successful channel partnerships through comprehensive support and resources [2] - Tenable's Assure Partner Program focuses on providing partners with sales and marketing assistance, training, certification opportunities, and technical support to enhance their business [3][4] Company Overview - Tenable is recognized as the exposure management company, addressing cybersecurity gaps that can impact business value and reputation [5] - The company offers an AI-powered exposure management platform that integrates security visibility and action across various environments, protecting approximately 44,000 customers globally [5]

Analysis finds 70% of cloud workloads using AI services contain unresolved vulnerabilitiesCOLUMBIA, Md. , March 19, 2025 (GLOBE NEWSWIRE) -- Tenable®, the exposure management company, today announced the release of its Cloud AI Risk Report 2025, which found that cloud-based AI is prone to avoidable toxic combinations that leave sensitive AI data and models vulnerable to manipulation, data tampering and data leakage. Cloud and AI are undeniable game changers for businesses. However, both introduce complex cy ...