Tenable Q4 Earnings Call Highlights

Core Insights - The company reported strong demand driven by AI-related security risks, with executives noting that AI is a common topic in customer discussions and highlighting the need for a platform approach to address security gaps [1][4][6] Financial Performance - In Q4, the company achieved revenue of $260.5 million, reflecting a 10.5% year-over-year increase, and an 11% revenue growth for the full year [3][4] - The operating margin for Q4 was reported at 24%, with a non-GAAP gross margin of 82.7%, up from 81.7% a year ago [5][12] - Non-GAAP EPS for Q4 was $0.48, an increase from $0.41, attributed to higher profitability and fewer diluted shares outstanding [13] Customer Growth and Platform Adoption - The company added over 500 new enterprise platform customers in the quarter, with Tenable One accounting for 46% of new business in Q4, marking a record high [2][6] - Management emphasized the importance of Tenable One in consolidating fragmented solutions and addressing customer needs for comprehensive risk management [11][19] Strategic Initiatives - The company is focusing on AI exposure management, having closed significant deals, including a seven-figure contract with a major telecom [6][18] - A departmental realignment was initiated to enhance innovation in Tenable One and AI security, resulting in restructuring expenses [17] Future Outlook - For 2026, the company guided revenue between $1.065 billion and $1.075 billion, marking the first time revenue is expected to surpass $1 billion [14] - The company also projected unlevered free cash flow of $285 million to $295 million for the full year 2026, despite anticipated headwinds from billing patterns [15][16]