Fortinet (NasdaqGS:FTNT) Q4 2025 Earnings call February 05, 2026 04:30 PM ET Company ParticipantsAnthony Luscri - Vice President of Investor RelationsChristiane Ohlgart - CFOFatima Boolani - Managing DirectorGabriela Borges - Managing DirectorJohn Whittle - COOKen Xie - Founder, Chairman, and CEORob Owens - Managing DirectorShaul Eyal - Managing DirectorConference Call ParticipantsAdam Borg - Equity Research AnalystBrian Essex - Equity Research AnalystJunaid Siddiqui - Equity Research AnalystPatrick Colvill ...

Executives repeatedly described AI as an increasingly common driver of demand. Vintz said AI is showing up in “nearly every customer conversation,” with organizations moving quickly but lacking visibility into where AI is running, what it touches, and who can access it—creating what he called an “invisible attack surface.” He argued that AI-specific point products often leave gaps across applications, identities, cloud workloads, and data, supporting Tenable’s view that a platform approach is required.The c ...

Tenable (NasdaqGS:TENB) Q4 2025 Earnings call February 04, 2026 04:30 PM ET Company ParticipantsAbhishek Murali - Equity Research AssociateBrian Essex - Executive Director of U.S. Software Equity ResearchErin Carney - VP of Investor RelationsMark Thurmond - Co-CEOMatt Brown - CFOSaket Kalia - DirectorSteve Vintz - Co-CEOConference Call ParticipantsJonathan Ho - Partner and Research AnalystJoseph Gallo - Secuity Software Equity Research AnalystMike Cikos - Senior AnalystPatrick Colville - Director and Equity ...

Tenable (NasdaqGS:TENB) Q4 2025 Earnings call February 04, 2026 04:30 PM ET Company ParticipantsAbhishek Murali - Equity Research AssociateBrian Essex - Executive Director of U.S. Software Equity ResearchErin Carney - VP of Investor RelationsMark Thurmond - Co-CEOMatt Brown - CFOSaket Kalia - DirectorSteve Vintz - Co-CEOConference Call ParticipantsJonathan Ho - Partner and Research AnalystJoseph Gallo - Secuity Software Equity Research AnalystMike Cikos - Senior AnalystPatrick Colville - Director and Equity ...

Tenable (NasdaqGS:TENB) Q4 2025 Earnings call February 04, 2026 04:30 PM ET Speaker4Greetings, and welcome to the Tenable fourth quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Erin Carney, Vice President, Investor R ...

Core Insights - Rapid AI adoption is creating a significant security gap, necessitating organizations to implement AI security platforms based on Zero Trust principles [1][2][12] AI Adoption Trends - AI usage is expanding across all business functions, with Finance & Insurance accounting for 23% of AI/ML traffic, while Technology and Education sectors saw year-over-year transaction growth of 202% and 184% respectively [4][12] - The number of applications driving AI/ML transactions quadrupled to over 3,400, indicating a rapid increase in complexity and reduced centralized visibility [12] Security Vulnerabilities - 100% of enterprise AI systems tested were found vulnerable to breaches, with critical vulnerabilities identified in an average of 16 minutes, and 90% of systems compromised in under 90 minutes [5][12] - AI/ML activity surged by 91% year-over-year, leading to a total of 18,033 terabytes of data transferred to AI applications, which poses a significant target for cybercriminals [7][9][12] Data Exposure Risks - Unmanaged embedded AI features in enterprise applications are creating critical data exposure risks, as these features often operate without oversight [8][12] - ChatGPT alone was associated with 410 million Data Loss Prevention (DLP) policy violations, highlighting the urgent need for AI governance [10][12] Recommendations for Security - Organizations are advised to adopt an intelligent Zero Trust architecture to mitigate risks associated with AI-driven cyber threats [3][11] - Continuous verification and least-privileged access should be enforced to eliminate attack surfaces, while all traffic, including encrypted data, must be inspected to stop threats in real time [13][11]

Core Insights - Zscaler, Inc. has appointed Sunil Frida as Chief Marketing Officer to enhance its leadership in the Zero Trust and AI security market [1][12] - Frida brings over 20 years of experience in scaling high-growth SaaS and cybersecurity organizations, previously serving at Crowdstrike [2] - The appointment aligns with Zscaler's ongoing innovation and expansion of its AI-powered Zero Trust Exchange™ platform, aimed at modernizing IT environments [3] Company Overview - Zscaler is recognized as a pioneer in Zero Trust security, focusing on customer success and innovation [4] - The company operates the world's largest in-line cloud security platform, protecting thousands of customers from cyberattacks and data loss [9] - Zscaler's Zero Trust Exchange™ platform connects users, devices, and applications securely across hybrid and cloud environments [9]

Core Insights - Cisco Systems' Security revenues decreased by 2% year over year to $1.98 billion in Q1 FY26, impacted by a shift to cloud subscriptions and lower revenues from older products [1][10] - New and refreshed products, which make up about one-third of Cisco's security portfolio, are expected to drive top-line growth, with mid-teens growth in demand for next-gen firewalls [2] - Splunk's annualized recurring revenues and product remaining performance obligations grew in double digits, enhancing Cisco's threat detection capabilities through integration with Cisco Extended Detection and Response (XDR) [3][10] Financial Performance - The Zacks Consensus Estimate for Q2 FY26 service revenues is $2.16 billion, indicating a 2.6% growth compared to the same quarter last year [4] - The Zacks Consensus Estimate for Q2 FY26 earnings is $1.02 per share, suggesting an 8.5% growth from the previous year [15] - The Zacks Consensus Estimate for FY26 earnings is $4.10 per share, indicating a 7.6% growth from FY25 [16] Competitive Landscape - Cisco faces significant competition in the security domain from Fortinet and Okta [5] - Fortinet is rapidly advancing its AI-powered security operations, with over 20 AI-driven solutions and a focus on secure AI usage [6] - Okta's offerings include AI-powered capabilities that are expected to drive a CAGR of 16% in revenues from FY23 to FY26, with projected revenues of $2.906 billion to $2.908 billion for FY26 [7] Stock Performance and Valuation - Cisco shares have appreciated by 30.8% over the past year, outperforming the broader Zacks Computer and Technology sector's return of 24.2% [8] - Cisco's stock is trading at a premium, with a trailing 12-month price/book ratio of 6.49X compared to the industry average of 6.13X [12] - Cisco currently holds a Zacks Rank 3 (Hold) [16]

Core Insights - Palo Alto Networks (PANW) secured a multibillion-dollar deal to enhance its position in the AI security market through an expanded partnership with Google Cloud [1][4] - The deal aims to address the urgent need for AI security as enterprises face increasing attacks on their AI infrastructure [2] - The partnership is expected to generate significant revenue as companies adopt combined Google-Palo Alto architectures for AI security [4] Group 1: Partnership and Market Position - The expanded partnership includes migrating key internal workloads to Google Cloud and integrating Palo Alto's Prisma AIRS security platform into Google's AI tools [1][3] - The collaboration builds on a successful history, generating over $2 billion in Google Cloud Marketplace sales and over 75 joint integrations [3] - The integration with Google's Vertex AI platform and Gemini language models allows for embedding security controls directly into AI applications [3] Group 2: Financial Performance - Palo Alto Networks reported remaining performance obligations (RPO) of $15.5 billion, a 24% increase year-over-year [6] - The company's annual recurring revenue from next-generation security rose by 29% to $5.85 billion [6] - A significant $100 million deal with a major telecom provider included an $85 million commitment to XSIAM, marking the largest security operations platform deal in the company's history [7]

Core Viewpoint - ServiceNow has agreed to acquire cybersecurity startup Armis for approximately $7.75 billion in cash, aiming to capitalize on the increasing demand for AI security [1] Group 1 - The acquisition price of Armis is set at about $7.75 billion [1] - This strategic move is intended to leverage the growing market for AI security solutions [1]