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Founded Year

2002

Stage

IPO | IPO

Total Raised

$301.55M

Date of IPO

7/26/2018

Market Cap

6.00B

Stock Price

50.04

About Tenable

Tenable (NASDAQ: TENB) is a cyber security company. It offers a range of solutions such as application security, cloud security posture management (CSPM), exposure management, and others. It serves industries such as finance, healthcare, retail, energy, and more. The company was founded in 2002 and is based in Columbia, Maryland.

Headquarters Location

6100 Merriweather Drive 12th Floor

Columbia, Maryland, 21044,

United States

410-872-0555

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ESPs containing Tenable

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Enterprise Tech / Cybersecurity

The dynamic application security testing (DAST) market focuses on solutions that test running applications to identify security weaknesses. This type of testing helps enterprises proactively identify and mitigate potential security risks in their applications during runtime. It also aims to identify issues earlier in the software development lifecycle, rather than when apps go live. Many vendors i…

Tenable named as Leader among 15 other companies, including IBM, Synopsys, and Veracode.

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Research containing Tenable

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Tenable in 4 CB Insights research briefs, most recently on Feb 20, 2024.

Expert Collections containing Tenable

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Tenable is included in 2 Expert Collections, including Grid and Utility.

G

Grid and Utility

1,816 items

Companies that are developing and implementing new technologies to optimize the grid and utility sector. This includes, but is not limited to, distributed energy resources, infrastructure security, utility asset management, grid inspection, energy efficiency, grid storage, etc.

C

Cybersecurity

8,790 items

These companies protect organizations from digital threats.

Tenable Patents

Tenable has filed 46 patents.

The 3 most popular patent topics include:

  • computer security
  • computer network security
  • computer security exploits
patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/24/2022

1/23/2024

Computer security, Software testing, Software development process, Nuclear technology, Nuclear accidents and incidents

Grant

Application Date

1/24/2022

Grant Date

1/23/2024

Title

Related Topics

Computer security, Software testing, Software development process, Nuclear technology, Nuclear accidents and incidents

Status

Grant

Latest Tenable News

Tenable Announces Fourth Quarter and Full Year 2023 Financial Results

Feb 6, 2024

Added 597 new enterprise platform customers and 156 net new six-figure customers in the fourth quarter(1). Fourth quarter revenue of $213.3 million, up 16% year-over-year; full year revenue of $798.7 million, up 17% year-over-year. Fourth quarter calculated current billings of $271.6 million, up 14% year-over year; full year calculated current billings of $873.3 million, up 12% year-over-year. Full year net cash provided by operating activities of $149.9 million; full year unlevered free cash flow of $175.4 million. COLUMBIA, Md., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Tenable Holdings, Inc. (“Tenable”) (Nasdaq: TENB), the Exposure Management company, today announced financial results for the quarter and year ended December 31, 2023. “We delivered a strong Q4, including better-than-expected results on the top and bottom line,” said Amit Yoran, Chairman and CEO of Tenable. “Underpinning our results was strength in Tenable One, driven by strong adoption of cloud and identity, as well as continued traction in OT. We are optimizing the business as we leverage the investments we have made to broaden our offerings and bring greater value to our customers.” Fourth Quarter 2023 Financial Highlights Revenue was $213.3 million, a 16% increase year-over-year. Calculated current billings was $271.6 million, a 14% increase year-over-year. GAAP loss from operations was $14.3 million, compared to a loss of $14.1 million in the fourth quarter of 2022. Non-GAAP income from operations was $36.1 million, compared to $19.9 million in the fourth quarter of 2022. GAAP net loss was $21.6 million, compared to $21.5 million in the fourth quarter of 2022. GAAP net loss per share was $0.19 in the fourth quarter of 2023 and in the fourth quarter of 2022. Non-GAAP net income was $30.2 million, compared to $14.2 million in the fourth quarter of 2022. Non-GAAP diluted earnings per share was $0.25, compared to $0.12 in the fourth quarter of 2022. Net cash provided by operating activities was $38.5 million, compared to $31.9 million in the fourth quarter of 2022. Unlevered free cash flow was $43.3 million, compared to $32.1 million in the fourth quarter of 2022. Repurchased 0.4 million shares of our common stock for $14.9 million. Full Year 2023 Financial Highlights Revenue was $798.7 million, a 17% increase year-over-year. Calculated current billings was $873.3 million, a 12% increase year-over-year. GAAP loss from operations was $52.2 million, compared to $67.8 million in 2022. Non-GAAP income from operations was $121.0 million, compared to $67.7 million in 2022. GAAP net loss was $78.3 million, compared to $92.2 million in 2022. GAAP net loss per share was $0.68, compared to $0.83 in 2022. Non-GAAP net income was $97.2 million, compared to $44.3 million in 2022. Non-GAAP diluted earnings per share was $0.80, compared to $0.38 in 2022. Cash and cash equivalents and short-term investments were $474.0 million at December 31, 2023, compared to $567.4 million at December 31, 2022. Net cash provided by operating activities was $149.9 million, compared to $131.2 million in 2022. Unlevered free cash flow was $175.4 million, compared to $128.1 million in 2022. Fourth Quarter 2023 and Recent Business Highlights Added 597 new enterprise platform customers and 156 net new six-figure customers(1). Achieved "Ready" designation for Tenable Cloud Security (via Ermetic) at the moderate impact level from the Federal Risk and Authorization Management Program (FedRAMP®). Expanded our partnership with Siemens Energy to further secure operational technology (OT) environments in the energy sector. Siemens Energy will integrate Tenable OT Security into their Omnivise T3000 control system as a network intrusion detection system (NIDS), in addition to already leveraging Tenable OT Security for asset discovery and vulnerability management. Named a Leader in IDC's 2023 MarketScape report on Risk-Based VM Platforms. Recognized as a Leader in the Cloud Security category of the inaugural report, The Next Generation of Cybersecurity Applications, executed and launched by Snowflake. (1) Includes 104 enterprise platform customers and 15 six-figure customers added in connection with our acquisition of Ermetic. Financial Outlook Revenue in the range of $212.0 to $214.0 million. Non-GAAP income from operations in the range of $27.0 million to $29.0 million. Non-GAAP net income in the range of $20.0 million to $22.0 million, assuming interest income of $5.2 million, interest expense of $8.2 million and a provision for income taxes of $3.9 million. Non-GAAP diluted earnings per share in the range of $0.16 to $0.18. 123.0 million diluted weighted average shares outstanding. For the year ending December 31, 2024, we currently expect: Calculated current billings in the range of $982.0 million to $992.0 million. Revenue in the range of $895.0 million to $905.0 million. Non-GAAP income from operations in the range of $152.0 million to $160.0 million. Non-GAAP net income in the range of $129.0 million to $137.0 million, assuming interest income of $21.7 million, interest expense of $32.2 million and a provision for income taxes of $10.6 million. Non-GAAP diluted earnings per share in the range of $1.03 to $1.10. 125.0 million diluted weighted average shares outstanding. Unlevered free cash flow in the range of $220.0 million to $230.0 million. Conference Call Information Tenable will host a conference call today, February 6, 2024, at 4:30 p.m. Eastern Time to discuss its financial results. The conference call can be accessed at 877-407-9716 (U.S.) and 201-493-6779 (international). A live webcast of the event will be available on the Tenable Investor Relations website at https://investors.tenable.com. An archived replay of the live broadcast will be available on the Investor Relations page of the website following the call. About Tenable Tenable® is the Exposure Management company. Approximately 44,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include approximately 65 percent of the Fortune 500, approximately 50 percent of the Global 2000, and large government agencies. Learn more at tenable.com. Contact Information Forward-Looking Statements This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” "believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2022, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 and other filings that we make from time to time with the SEC, which are available on the SEC's website at sec.gov. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. Non-GAAP Financial Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance the overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to important metrics used by management for financial and operational decision-making. We include these non-GAAP financial measures to present our financial performance using a management view and because we believe that these measures provide an additional comparison of our core financial performance over multiple periods with other companies in our industry. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release. Calculated Current Billings: We define calculated current billings, a non-GAAP financial measure, as total revenue recognized in a period plus the change in current deferred revenue in the corresponding period. We believe that calculated current billings is a key metric to measure our periodic performance. Given that most of our customers pay in advance (including multi-year contracts), but we generally recognize the related revenue ratably over time, we use calculated current billings to measure and monitor our ability to provide our business with the working capital generated by upfront payments from our customers. We believe that calculated current billings, which excludes deferred revenue for periods beyond twelve months in a customer’s contractual term, more closely correlates with annual contract value and that the variability in total billings, depending on the timing of large multi-year contracts and the preference for annual billing versus multi-year upfront billing, may distort growth in one period over another. Free Cash Flow and Unlevered Free Cash Flow: We define free cash flow, a non-GAAP financial measure, as net cash provided by operating activities less purchases of property and equipment and capitalized software development costs. We believe free cash flow is an important liquidity measure of the cash that is available (if any), after purchases of property and equipment and capitalized software development costs, for investment in our business and to make acquisitions. We believe that free cash flow is useful as a liquidity measure because it measures our ability to generate or use cash. We define unlevered free cash flow as free cash flow plus cash paid for interest and other financing costs. We believe unlevered free cash flow is useful as a liquidity measure as it measures the cash that is available to invest in our business and meet our current debt obligations and future financing needs. However, given our debt obligations, non-cancelable commitments and other contractual obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses. Non-GAAP Income from Operations and Non-GAAP Operating Margin: We define these non-GAAP financial measures as their respective GAAP measures, excluding the effect of stock-based compensation, acquisition-related expenses, restructuring expenses, costs related to the intra-entity asset transfers resulting from the internal restructuring of legal entities, and amortization of acquired intangible assets. Acquisition-related expenses include transaction and integration expenses, as well as costs related to the intercompany transfer of acquired intellectual property. Restructuring expenses include non-ordinary course severance, employee related benefits, and other charges. We believe that the exclusion of these expenses provides for a useful comparison of our operating results to prior periods and to our peer companies, which commonly exclude restructuring expenses. Non-GAAP Net Income and Non-GAAP Earnings Per Share: We define non-GAAP net income as GAAP net loss, excluding the effect of stock-based compensation, acquisition-related expenses, restructuring expenses and amortization of acquired intangible assets, including the applicable tax impacts. In addition, we exclude the tax impact and related costs of intra-entity asset transfers resulting from the internal restructuring of legal entities as well as deferred income tax benefits recognized in connection with acquisitions. We use non-GAAP net income to calculate non-GAAP earnings per share. Non-GAAP Gross Profit and Non-GAAP Gross Margin: We define non-GAAP gross profit as GAAP gross profit, excluding the effect of stock-based compensation and amortization of acquired intangible assets. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of revenue. Non-GAAP Sales and Marketing Expense, Non-GAAP Research and Development Expense and Non-GAAP General and Administrative Expense: We define these non-GAAP measures as their respective GAAP measures, excluding stock-based compensation, acquisition-related expenses and costs related to intra-entity asset transfers resulting from the internal restructuring of legal entities. TENABLE HOLDINGS, INC. ________________ (1) The tax impact of stock-based compensation is based on the tax treatment for the applicable tax jurisdictions. (2) The tax impact of acquisition-related expenses and restructuring charges are not material. (3) The costs related to the intra-entity asset transfer resulted from our internal restructuring of Cymptom. (4) The tax impact of the amortization of acquired intangible assets is included in the tax impact of acquisitions. (5) The tax impact of acquisitions for all periods presented includes the deferred tax benefits of the Alsid acquisition. In the three months and year ended December 31, 2023, tax impact from acquisitions includes a reversal of deferred tax expense related to indefinite-lived intangible assets. Additionally, the tax impact of acquisitions for the year ended December 31, 2022 includes a reversal of the $2.5 million income tax benefit recognized for GAAP purposes related to the partial release of our valuation allowance associated with the Bit Discovery acquisition. (6) The tax impact of the intra-entity transfer is related to current tax expense based on the applicable Israeli tax rates resulting from our internal restructuring of Cymptom in the year ended December 31, 2022. (7) An adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares. Non-GAAP Gross Profit and Non-GAAP Gross Margin Three Months Ended

Tenable Frequently Asked Questions (FAQ)

  • When was Tenable founded?

    Tenable was founded in 2002.

  • Where is Tenable's headquarters?

    Tenable's headquarters is located at 6100 Merriweather Drive, Columbia.

  • What is Tenable's latest funding round?

    Tenable's latest funding round is IPO.

  • How much did Tenable raise?

    Tenable raised a total of $301.55M.

  • Who are the investors of Tenable?

    Investors of Tenable include Sharespost, Accel, Insight Partners, Maryland Department of Business & Economic Development and The Center for Business & Technology Development.

  • Who are Tenable's competitors?

    Competitors of Tenable include Runecast, Aqua Security, ONLAYER, Cavelo, Dragos and 7 more.

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