Tenable Announces Fourth Quarter and Full Year 2025 Financial Results

Core Insights - Tenable Holdings, Inc. reported strong financial results for Q4 and full year 2025, exceeding all guided metrics and announcing a $150 million increase in share repurchase authorization [1][5][10] Financial Highlights - Q4 2025 revenue reached $260.5 million, an 11% increase year-over-year, while full year revenue totaled $999.4 million, also up 11% year-over-year [5][6] - Calculated current billings for Q4 were $327.8 million, an 8% increase year-over-year, with full year calculated current billings at $1.049 billion, up 8% year-over-year [5][6] - Full year net cash provided by operating activities was $266.8 million, with unlevered free cash flow of $277.0 million [5][10] Operational Performance - GAAP income from operations for Q4 was $8.9 million, down from $13.0 million in Q4 2024, while non-GAAP income from operations increased to $63.7 million from $59.4 million [6][10] - GAAP net loss for Q4 was $0.7 million, compared to a net income of $1.9 million in Q4 2024, with non-GAAP net income rising to $57.3 million from $50.7 million [6][10] - The company repurchased 2.3 million shares for $62.5 million in Q4 and a total of 7.9 million shares for $247.5 million in 2025 [10] Business Developments - Tenable added 502 new enterprise platform customers and 5 net new six-figure customers during the year [10] - The company was recognized as a leader in Exposure Management by major industry analyst firms and appointed a new Chief Technology Officer [10] - S&P Global upgraded Tenable's credit rating to BB from BB- [10] Future Outlook - For Q1 2026, Tenable expects revenue in the range of $257.0 million to $260.0 million and non-GAAP income from operations between $53.0 million and $56.0 million [10] - The company will no longer provide specific guidance for calculated current billings due to changes in billing duration but expects full year 2026 calculated current billings to align with current consensus expectations [8]