Financial Data and Key Metrics Changes - Total revenues for the first quarter of 2025 were $1,800,000, representing a 6% increase compared to the previous quarter and a 57% increase year-over-year [12][14] - Gross profit margin was 76% for the first quarter of 2025, down from 80% in the first quarter of 2024, primarily due to product mix changes [17] - Net loss for the first quarter of 2025 was $2,100,000, or $0.11 per share, compared to a net loss of $1,700,000, or $0.94 per share, for the first quarter of 2024 [19] Business Line Data and Key Metrics Changes - Consulting revenues totaled $1,400,000 in the first quarter, an increase of $100,000 sequentially and $700,000 year-over-year [14] - Shield revenues were $400,000, an increase of $100,000 sequentially but flat year-over-year [15][16] Market Data and Key Metrics Changes - Sales to U.S. Government entities represented 92% of revenues in the first quarter of 2025, indicating strong demand for Shield and Consulting services [17] - The company is experiencing strong demand for its products both domestically and in the Asia Pacific region, driven by a growing positive reputation [6] Company Strategy and Development Direction - The company is focusing on making its ShieldCloud product available on the AWS Marketplace, expected to contribute positively to revenue in the second half of fiscal year 2025 [7] - Strategic investments are being made in R&D to enhance product offerings, particularly in protecting critical infrastructure assets [10] - A new partnership with PortNexus has been established to integrate IntrusionShield endpoint into their solutions, indicating a focus on expanding market reach [11] Management's Comments on Operating Environment and Future Outlook - Management is optimistic about the strength of the non-government pipeline supporting growth despite uncertainties in federal budget approvals [13] - The demand for cybersecurity solutions is expected to increase due to rising threats, positioning the company for potential growth [21] Other Important Information - The company has eliminated outstanding debt and has a strong cash position of $10,700,000 as of March 31, 2025, compared to $100,000 in March 2024 [19][20] - A $100,000,000 replacement S-3 shelf registration was filed, providing financial flexibility for future opportunities [20] Q&A Session Summary Question: Potential changes to pricing - Management is reviewing pricing strategies to ensure competitiveness, particularly for managed service providers, without reducing prices [25][26] Question: Support for AWS marketplace entry - The company plans to utilize various marketing strategies to create awareness in the AWS marketplace, following best practices [30] Question: Expansion opportunities with the DOD - Management believes there are opportunities for expanding the relationship with the DOD, with ongoing conversations [31] Question: Shield revenue for the quarter - Shield revenue was confirmed to be $400,000, up from the previous quarter and fully backfilling the loss from a large customer [33][38] Question: CIOs' budgets for cybersecurity products - Management noted no significant changes in budgets for cybersecurity products, with robust interest observed at the RSA conference [43][44] Question: Catalyst for significant revenue growth - Management indicated that growth will come from a combination of existing products, new offerings, and potential opportunities in AWS and other digital marketplaces [49][52] Question: Revenue potential from PortNexus partnership - While it's too early to project specific revenue figures, management is optimistic about the partnership's potential for expansion [58]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $239.1 million, representing an 11% year-over-year growth and exceeding the midpoint of the guided range by $5.1 million [27] - Calculated current billings grew 9% year-over-year to $215.4 million, driven largely by Tenable One and cloud security [26] - Unlevered free cash flow reached a record $87 million during the quarter, reflecting strong operational performance [31] Business Line Data and Key Metrics Changes - Tenable One was a significant driver of new business, accounting for over 30% of new sales in Q1 2025, with notable traction in cloud security [111] - The company added 361 new enterprise platform customers during the quarter, maintaining a net dollar expansion rate of 108% [26][27] - The percentage of recurring revenue remained high at 96% [27] Market Data and Key Metrics Changes - The company secured major wins in both public and private sectors, including a significant federal contract managing over 1 million assets [20] - The competitive environment showed historically high win rates against traditional vulnerability management players, indicating strong market positioning [51] Company Strategy and Development Direction - The company is focused on expanding its exposure management strategy and enhancing its product offerings, particularly through integrations with third-party tools and data sources [11][12] - There is a strong emphasis on AI capabilities to enhance exposure management solutions, leveraging the extensive data accumulated over two decades [12][87] - The strategic priority includes consolidating vendor solutions for customers, particularly in the public sector, to enhance efficiency and reduce costs [96] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the economic environment, particularly in the U.S. public sector, due to budget uncertainties and leadership disruptions [33][71] - Despite the cautious outlook, demand generation remains strong, with a robust pipeline of opportunities [44][68] - The company expects operating margins to improve throughout the year, even while absorbing costs from the Vulcan acquisition [36] Other Important Information - The company repurchased 1.6 million shares for $60 million during the quarter, with a total of $175 million in share repurchases since November 2023 [31] - The company is taking a cautious approach to its guidance for the remainder of the year, reflecting increased economic uncertainty [35] Q&A Session Summary Question: What is driving the incremental caution in guidance? - Management noted ongoing macro uncertainty, particularly in the public sector, and longer lead times for procurement decisions [41][45] Question: How is the competitive environment in vulnerability management? - Management reported historically high win rates against traditional players, indicating strong competitive positioning [51] Question: How does the acquisition of Wiz impact the cloud space? - Management views the acquisition as a market opportunity, with increased activity in RFPs and a shift towards multi-cloud environments [60][62] Question: What are the strategic priorities for the next 100 days? - The focus will be on expanding market opportunities, enhancing the exposure management platform, and leveraging AI for better insights [84][87]

Financial Data and Key Metrics Changes - Total revenues for the first quarter were $1,800,000, representing a 6% increase compared to the previous quarter and a 57% increase year-over-year [12][15] - Net loss for the first quarter was $2,100,000 or $0.11 per share, compared to a net loss of $1,700,000 or $0.94 per share for the same period last year [19] - Gross profit margin was 76% for the first quarter, down from 80% in the first quarter of the previous year, primarily due to product mix changes [17] Business Line Data and Key Metrics Changes - Consulting revenues totaled $1,400,000, an increase of $100,000 sequentially and $700,000 year-over-year [15] - Shield revenues were $400,000, an increase of $100,000 sequentially but flat year-over-year [16] Market Data and Key Metrics Changes - Sales to U.S. Government entities represented 92% of revenues in the first quarter [17] - The company is experiencing strong demand for its Shield and Consulting services from both governmental and commercial customers [17] Company Strategy and Development Direction - The company is focusing on enhancing its ShieldCloud product availability on the AWS Marketplace, expected to contribute positively to revenue in the second half of fiscal year 2025 [7][8] - A new partnership with PortNexus has been established to integrate IntrusionShield endpoint into their solutions, enhancing security for their customers [11] Management's Comments on Operating Environment and Future Outlook - Management is optimistic about the demand for products due to the rise in cybersecurity threats and believes they are at a key inflection point for growth [22][23] - Despite uncertainties in government contracts due to budget discussions, the strength of the non-government pipeline is expected to support growth [13][14] Other Important Information - The company has eliminated outstanding debt and has a strong cash position of $10,700,000 as of March 31, 2025, compared to $100,000 in the previous year [19][20] - The company plans to maintain disciplined investments while exploring opportunities for growth [12][18] Q&A Session Summary Question: Potential changes to pricing - Management is reviewing pricing strategies to ensure competitiveness, particularly for managed service providers, without reducing prices [25][26] Question: Support for AWS marketplace entry - The company plans to utilize various marketing strategies to create awareness for its products in the AWS marketplace [30] Question: Expansion of relationship with DOD - Management believes there is potential for expanding the relationship with the Department of Defense [31] Question: Revenue from Shield in the quarter - Shield revenue was confirmed to be $400,000, which is flat compared to previous quarters [32][33] Question: CIOs' budgets for cybersecurity products - Management noted no significant changes in CIOs' budgets for cybersecurity products, with strong attendance and interest at the RSA conference [41][42] Question: Catalyst for significant revenue growth - Management indicated that growth will come from a combination of factors, including AWS and new product developments [48][50] Question: Revenue potential from PortNexus partnership - While it's too early to predict exact revenue figures, there are ambitious expectations for the partnership [56][57] Question: Pipeline for breakeven point - Management sees potential in the existing work and new products but does not yet have a solid pipeline for significant growth [59]

Financial Data and Key Metrics Changes - The company reported revenue of $239.1 million for Q1 2025, representing an 11% year-over-year growth and exceeding the midpoint of the guided range by $5.1 million [28][34] - Unlevered free cash flow reached a record $87 million during the quarter, influenced by seasonal timing of collections from Q4 sales [32][34] - Gross margin remained stable at 82%, consistent with expectations, while the percentage of recurring revenue was high at 96% [28][29] Business Line Data and Key Metrics Changes - Current billings grew 9% year-over-year to $215.4 million, driven largely by Tenable One and cloud security [27] - The company added 361 new enterprise platform customers, with a net dollar expansion rate of 108% [27][28] - The company secured significant wins, including a major federal contract managing over 1 million assets and a 7-figure expansion with a global financial institution [20][21] Market Data and Key Metrics Changes - The company noted strong momentum in exposure management, particularly in the public sector, despite macroeconomic uncertainties [34][35] - The competitive environment showed historically high win rates against traditional vulnerability management players, with notable 7-figure deals [52][54] - The company is seeing increased demand for integrated solutions that combine first-party assessments with third-party data [22][23] Company Strategy and Development Direction - The company is focused on expanding its exposure management strategy and enhancing its product offerings, particularly through the integration of AI capabilities [12][88] - The strategic priority includes consolidating vendor solutions for customers and enhancing the Tenable One platform to provide a comprehensive view of risk [19][22] - The company aims to leverage its competitive moat in exposure data to lead in AI-powered exposure management [12][88] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the outlook due to increased macroeconomic uncertainty and potential disruptions in the public sector [34][35] - The company anticipates longer lead times for procurement decisions, particularly in the public sector, while demand generation remains strong [45][71] - Despite uncertainties, management reiterated confidence in achieving operating income and free cash flow targets for the year [47][34] Other Important Information - The company completed the acquisition of Vulcan, which is expected to contribute approximately $5 million to growth, primarily in the latter half of the year [106] - The company repurchased 1.6 million shares for $60 million, with a total of nearly 4.3 million shares repurchased since November 2023 [33] Q&A Session Summary Question: What is driving the incremental caution in guidance? - Management noted ongoing macro uncertainty, particularly in the public sector, and acknowledged strong demand generation despite the cautious outlook [42][44] Question: How is the competitive environment in vulnerability management? - Management reported historically high win rates against traditional players and noted strong performance in securing large deals [52][54] Question: How does the acquisition of Wiz impact the cloud space? - Management views the acquisition as a market opportunity, noting increased activity and interest from customers seeking alternatives [58][60] Question: What are the strategic priorities for the next 100 days? - The focus will be on expanding market opportunities, enhancing the exposure management platform, and leveraging AI for better insights [84][88]

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 Viewpoint - Okta is set to be added to the S&P MidCap 400 index, which is expected to increase demand for its shares and positively impact its stock price in the short term [2][4]. Group 1: Index Inclusion - Okta will replace Berry Global Group in the S&P MidCap 400 index starting May 1 [2]. - The addition to the index is generally seen as a positive development, as it increases demand from index funds and institutional investors [4]. Group 2: Financial Performance - For fiscal 2025 fourth-quarter results, Okta reported revenue of $682 million, a 13% year-over-year increase, and adjusted EPS of $0.78, which is a 24% jump [5]. - Management provided guidance for 2026, projecting revenue of approximately $2.855 billion and adjusted EPS of $3.17, both exceeding Wall Street expectations [6]. Group 3: Company Recovery - Following a significant security breach, Okta appears to be on a recovery path, which has restored shareholder confidence [6].

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]

Core Insights - The rapid adoption of AI is leading organizations to implement solutions without adequate security controls, raising concerns about potential security breaches, with 72% of CISOs expressing worry about generative AI risks [1] - Qualys TotalAI is designed to address AI-specific security challenges, ensuring that only trusted models are deployed, thus balancing innovation with risk management [2][3] Group 1: Qualys TotalAI Features - TotalAI goes beyond basic assessments by testing models for vulnerabilities such as jailbreak risks, bias, and sensitive information exposure, aligning with OWASP Top 10 for LLMs [2] - The platform provides visibility, intelligence, and automation to protect AI workloads throughout their lifecycle, enhancing operational resilience and brand trust [3] - TotalAI detects 40 different attack scenarios, including advanced jailbreak techniques and bias amplification, to strengthen model resilience against exploitation [6] Group 2: Availability and Resources - Qualys TotalAI is now available for a 30-day trial, allowing organizations to explore its capabilities [4] - Qualys, Inc. is a leading provider of cloud-based security solutions, serving over 10,000 subscription customers globally, including many from the Forbes Global 100 and Fortune 100 [5]

LONDON and SUNNYVALE, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- News Summary Vodafone Business and Fortinet (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced an expanded global partnership, extending the reach of their converged networking and cybersecurity services to additional countries across Europe and Asia, as well as the United States. Together, the two companies are helping businesses deliver on the connectivity needs of today's hybr ...

Core Insights - Rapid7, Inc. has announced significant enhancements to its Command Platform, focusing on unified threat-informed remediation and AI-assisted automated detection and response, aimed at improving security outcomes for organizations [1][2]. Group 1: Enhancements to Command Platform - The new version of the Command Platform provides security teams with platform-level remediation capabilities across exposure management and threat detection, enhancing visibility and collaboration [1]. - Integrated remediation of vulnerabilities is now available, whether from Rapid7's own scanner or third-party tools, along with AI-powered prioritization for threat investigation [3]. - Active Remediation with Velociraptor allows Rapid7 to act on behalf of customers to remove malicious artifacts, effectively responding to threats before they escalate into incidents [3]. Group 2: Addressing Security Challenges - Security teams are facing an expanding attack surface and a fragmented approach to security tools, necessitating automated remediation across the entire ecosystem [2]. - The enhancements aim to transform exposure and threat remediation processes by proactively identifying and prioritizing critical exposures [2]. Group 3: Key Features of the Command Platform - Unified Vulnerability Management allows organizations to consolidate risk signals across various security tools, enabling better prioritization and streamlined remediation [4]. - Fully Integrated Automation in the Remediation Process reduces administrative overhead and improves communication efficiency, speeding up remediation efforts [4]. - The AI-Powered Triage feature provides security analysts with visibility into AI decision-making, enhancing trust and integration of automation into workflows [4]. Group 4: Financial Protection and Support - The Breach Protection Warranty offers up to $1,000,000 in coverage for Managed Threat Complete (MTC) Ultimate customers, covering expenses related to cyberattacks [4]. - Rapid7's service includes unlimited incident response, simplifying breach response planning and reducing financial complexity for customers [4].