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Tenable (TENB) investor relations material
Tenable Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Feb, 2026
Executive summary
Q4 2025 revenue grew 10.5%–11% year-over-year to $260.5M, with full-year revenue up 11% to $999.4M–$1.049B, exceeding guidance on all key metrics.
Tenable One, the AI-powered exposure management platform, drove 46% of new business and saw record adoption, with over 500 new enterprise customers added in Q4.
Recognized as a leader in exposure management by Gartner, IDC, Forrester, and S&P Global, with #1 market share in device vulnerability and exposure management.
Platform strategy and AI capabilities are driving larger deal sizes, higher customer engagement, and increased pricing power.
Expanded share repurchase authorization by $150M, bringing total to $338M at year-end.
Financial highlights
Q4 non-GAAP operating margin reached 24.4%, with full-year non-GAAP operating income at $219M (21.9% of revenue), up 140 bps from 2024.
Q4 non-GAAP EPS was $0.48 (up 17.1% YoY); full-year non-GAAP EPS was $1.59 (up 23.3% YoY).
Q4 calculated current billings were $327.8M, up 8% YoY; full-year billings were $1.049B, up 8%.
Unlevered free cash flow for 2025 was $277M (27.7% of revenue), up 16.5% YoY.
Non-GAAP gross margin for Q4 was 82.7%, up from 81.7% in Q4 2024.
Outlook and guidance
Q1 2026 revenue expected at $257M–$260M (8.1% YoY growth at midpoint); full-year 2026 revenue guided to $1.065B–$1.075B (7.1% YoY growth at midpoint).
Full-year 2026 non-GAAP operating income expected at $245M–$255M (23.4% margin at midpoint), up 150 bps YoY.
2026 non-GAAP EPS guided to $1.81–$1.90; unlevered free cash flow expected at $285M–$295M.
No longer providing specific guidance for calculated current billings due to billing duration changes.
2026 CCB expected in line with consensus.
What drives the shift in billings guidance?
What is the total remaining share repurchase authorization?
What are the key growth drivers for 2026 revenue?
What metrics replace CCB for business health?
AI exposure opportunity impact on Tenable One
Tenable One's role in accelerating future growth
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Next Tenable earnings date
Q1 202628 Apr, 2026
Tenable
Next Tenable earnings date
Q1 202628 Apr, 2026
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Frequently asked questions
Tenable Holdings, Inc., a technology company, provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platform enables visibility into an organization's cyber exposure across the attack surface and identifies which vulnerabilities are exploitable and where they can be found; and provides prioritization and remediation of vulnerabilities based on risk. The company was founded in 2002 and is headquartered in Columbia, Maryland..
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