Tenable (TENB) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $262.1 million, up 10% year-over-year, driven by strong subscription growth, international expansion, and robust adoption of Tenable One and Hexa AI.

• Net income was $1.4 million, reversing a net loss of $22.9 million in Q1 2025, with non-GAAP net income rising to $55.6 million.

• Added 406 new enterprise customers and 43 net new six-figure deals, with customers with $100K+ ACV increasing to 2,204.

• Tenable One accounted for 41% of new business, up from 33% in Q1 2025, and the company was recognized as a leader in exposure management by major analysts.

• Partnerships with Anthropic and OpenAI are driving AI innovation and platform integration.

Financial highlights

• Q1 2026 revenue was $262.1 million, up 9.6% year-over-year, with recurring revenue at 96%.

• Non-GAAP gross margin was 82.2%, and non-GAAP operating margin reached 23.6%, both up year-over-year.

• Non-GAAP EPS was $0.47, a 30.6% increase from Q1 2025, with weighted average diluted shares outstanding down 5.2%.

• Unlevered free cash flow was $88.6 million (33.8% of revenue), an all-time record.

• Subscription revenue rose to $243.2 million, with professional services and other revenue at $8.7 million.

Outlook and guidance

• Q2 2026 revenue guidance: $263M–$266M; full year 2026 revenue guidance raised to $1.068B–$1.078B.

• Q2 non-GAAP operating income guidance: $61M–$64M; full year: $252M–$262M.

• Q2 non-GAAP EPS guidance: $0.46–$0.48; full year: $1.90–$1.98.

• FY 2026 unlevered free cash flow expected at $285M–$295M.

• Management expects continued growth driven by international expansion and cloud adoption.