Tenable Holdings (TENB) Company Report

Tenable One is a primary growth driver, accounting for 40% of new business in Q3 and currently adopted by 17% of enterprise customers, with expectations for continued expansion and higher retention rates.
The company's operating margin saw significant expansion, increasing by 350 basis points year-on-year in Q3 2025 and over 200 basis points year-to-date through Q3, even with an 18% growth in R&D.
Net retention is projected to tick down to 105% next quarter due to trailing 12-month calculations but is expected to stabilize and eventually inflect higher with increased Tenable One adoption.
Tenable is capitalizing on new opportunities in AI, cloud, and OT security, integrating acquisitions like APEX directly into the Tenable One platform to provide comprehensive exposure management.

3 days ago

Transcript

Tenable Discusses AI Threat Landscape, Q3 Performance, and Margin Expansion at UBS Conference

TENB

Product Launch

Revenue Acceleration/Inflection

M&A

Tenable is actively addressing the AI threat landscape with its AI-Aware product and Apex acquisition, promoting a proactive "fireproofing" approach to security through exposure management.
The company reported a strong Q3 performance, with 40% of new business growth attributed to its Tenable One exposure management platform, which also drives higher retention and upsell opportunities.
Tenable achieved a 350 basis point increase in operating margin year-over-year in Q3 2025, alongside an 18% growth in R&D, indicating continued margin expansion through operational efficiency.
Management is focused on executing with current assets rather than large transformational M&A, and observes a healthy pipeline and sustained demand in the cybersecurity market.

3 days ago

Transcript

Tenable Highlights Strong Q3 Performance and Strategic Focus on Exposure Management, AI, and OT

TENB

Revenue Acceleration/Inflection

New Projects/Investments

M&A

Tenable reported a strong Q3, adding almost 450 new enterprise customers, with 40% of new business growth driven by Tenable One, their exposure management platform.
The company achieved significant margin expansion in Q3 2025, with operating margin up 350 basis points year-on-year despite an 18% increase in R&D.
Tenable One, currently adopted by 17% of enterprise customers, is central to future growth, higher retention, and upsell opportunities, although the net retention rate is expected to tick down to 105% next quarter due to a trailing 12-month calculation before stabilizing and inflecting higher.
Tenable is actively addressing the AI threat landscape with its AI-Aware product and recent Apex acquisition, integrating these into Tenable One, and sees the OT space as a growing opportunity.
While open to M&A for technology that fills gaps, Tenable is currently focused on executing with existing assets, making large transformational M&A unlikely.

3 days ago

Transcript

Tenable Provides Business Update at UBS Conference

TENB

Revenue Acceleration/Inflection

New Projects/Investments

M&A

Tenable's operating margin in Q3 2025 increased by 350 basis points year-on-year, and by over 200 basis points year-to-date through Q3, despite an 18% growth in R&D.
The company's exposure management platform, Tenable One, drove 40% of new business growth in Q3 2025 and is central to its strategy for AI, cloud, and OT security.
The net retention rate was 106% in Q3 2025 and is projected to tick down to 105% next quarter before stabilizing and inflecting higher due to Tenable One adoption.
Currently, 17% of enterprise customers use Tenable One, indicating substantial opportunity for migration from point solutions and future growth.
While Tenable has been acquisitive in the past, the company is now focused on executing with its current product portfolio, and large transformational M&A is considered unlikely.

3 days ago

Transcript

Tenable Holdings Inc. Reports Strong Q3 2025 Results and Raises Full-Year Guidance

TENB

Earnings

Guidance Update

Share Buyback

Tenable Holdings Inc. (TENB) reported Q3 2025 revenue of $252.4 million, an 11.2% year-over-year increase, and non-GAAP earnings per share of $0.42, up 31.3% compared to Q3 2024.
The company exceeded its Q3 2025 guided metrics, achieving a 23% operating margin and adding 437 new enterprise platform customers.
Tenable One, the exposure management platform, continued its strong momentum, accounting for approximately 40% of new business in Q3 2025.
Tenable raised its full-year 2025 guidance, with revenue now projected between $988 million and $992 million and non-GAAP EPS between $1.51 and $1.54.
In Q3 2025, Tenable repurchased 2 million shares for $60 million, contributing to a total of 8.3 million shares repurchased for $300 million since November 2023, with $250 million of authorization still available.

Oct 29, 2025, 8:30 PM

Transcript

Tenable Reports Strong Q3 2025 Results and Raises Full-Year Guidance

TENB

Earnings

Guidance Update

Share Buyback

Tenable reported Q3 2025 revenue of $252.4 million, an 11.2% year-over-year increase, with a non-GAAP operating margin of 23.3% and non-GAAP earnings per share of $0.42.
The company raised its full-year 2025 revenue guidance to $988 million to $992 million (10.0% year-over-year increase at midpoint) and non-GAAP EPS guidance to $1.51 to $1.54 (18.2% year-over-year growth at midpoint).
The Tenable One exposure management platform represented approximately 40% of new business in Q3 2025, contributing to the addition of 437 new enterprise platform customers. The company also noted a 20% year-to-date increase in R&D.
During Q3 2025, Tenable repurchased 2 million shares for $60 million, with $250 million remaining under its repurchase authorization. Matt Brown joined as Chief Financial Officer in August.

Oct 29, 2025, 8:30 PM

Transcript

Tenable Holdings, Inc. Announces Strong Q3 2025 Results and Raises Full-Year Outlook

TENB

Earnings

Guidance Update

CFO Change

Tenable Holdings, Inc. reported Q3 2025 revenue of $252.4 million, an 11% increase year-over-year, and non-GAAP diluted earnings per share of $0.42, exceeding expectations.
The company raised its full-year 2025 outlook, now expecting revenue between $988.0 million and $992.0 million and non-GAAP diluted earnings per share in the range of $1.51 to $1.54.
During Q3 2025, Tenable repurchased 2.0 million shares of its common stock for $60.0 million and appointed Matthew Brown as Chief Financial Officer.

Oct 29, 2025, 8:17 PM

8-K

SecurityScorecard Reports Record Quarter and Strategic Growth Initiatives

TENB

Product Launch

M&A

Management Change

SecurityScorecard reported a record quarter with strong growth, profitability, positive free cash flow, and a 40% improvement in ARR per FTE.
The company achieved triple-digit growth in its MAX Supply Chain Detection and Response (SCDR) solution, marking its strongest quarterly performance, and a 70% win rate in competitive opportunities.
Market leadership is being extended through AI innovation, including the acquisition of HyperComply and the development of over 50 patents.
Strategic investments in leadership talent include the appointment of Chris Fritz as Chief Financial Officer.

Oct 15, 2025, 8:47 PM

Press Release

TEN Holdings Introduces Xyvid Pro and Ten Pro SaaS for Global Events Market

TENB

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

TEN Holdings (NASDAQ: XHLD) is launching its Ten Events Pro (“Ten Pro”) SaaS solution, which was unveiled through an Early Adopter Program on June 2, 2025, and beta-launched on July 1, 2025.
The company is leveraging its Xyvid Pro Platform and the new Ten Pro SaaS solution to revolutionize virtual, hybrid, and in-person event experiences.
This strategic pivot to a SaaS model positions TEN Holdings to tap into the $404.3 billion global virtual events market and the $1.2 trillion live events industry, aligning with the $1 trillion global SaaS market growth.
The SaaS model is expected to provide benefits such as predictable revenue, enhanced scalability, and higher valuation premiums.

Sep 15, 2025, 12:45 PM

Press Release

TEN Holdings Pivots to SaaS Model and Launches Early Adopter Program

TENB

Product Launch

New Projects/Investments

M&A

TEN Holdings (NASDAQ: XHLD) is transitioning its business model to Software-as-a-Service (SaaS) with its new Ten Events Pro ("Ten Pro") platform, aiming to capitalize on the $1 trillion global SaaS market.
The company launched an Early Adopter Program for Ten Pro on June 2, 2025, providing select clients beta access starting July 1, with a full launch anticipated in early 2026.
All-Star Analyst Barry M. Sine, CFA, CMT, has affirmed TEN's effective execution and ahead-of-schedule deployment of Ten Pro, reaffirming his full-year revenue forecast and bullish stance on the company's long-term growth potential.
Management is actively pursuing mergers and acquisitions, expecting at least one acquisition before year-end, and is exploring potential consolidation with its majority shareholder's event business to achieve global scale and operational synergies.

Sep 11, 2025, 1:28 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Tenable Holdings.

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