Tenable Holdings, Inc. TENB
Tenable is the leading provider of exposure management solutions. Exposure management is an increasingly critical category that extends foundational vulnerability management capabilities to advance risk assessment and prioritization across the entire attack surface – from IT infrastructure and cloud environments to critical infrastructure and artificial intelligence (AI). Tenable unifies security visibility, insight and action across this attack surface, equipping modern organizations to quickly identify and close the cybersecurity gaps that erode business value, reputation and trust.
Business dynamics continue to shift under pressure of geopolitical tensions, talent shortages, the push for greater automation, unrelenting compliance and regulatory pressures, along with the drive to out-innovate and out-pace competitors. AI is now a constant undercurrent and is recognized as both a business enabler and a cybersecurity risk.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $999.4M | $900.0M | $798.7M | $683.2M | $541.1M | $440.2M | $354.6M | $267.4M | $187.7M | $124.4M |
| Cost of revenue | $218.9M | $199.7M | $183.6M | $154.8M | $106.4M | $77.6M | $60.8M | $43.2M | $25.6M | $14.2M |
| Gross profit | $780.5M | $700.4M | $615.1M | $528.4M | $434.7M | $362.7M | $293.8M | $224.2M | $162.1M | $110.2M |
| R&D | $223.7M | $181.6M | $153.2M | $143.6M | $116.4M | $101.7M | $87.1M | $76.7M | $57.7M | $40.1M |
| SG&A | $145.9M | $124.1M | $116.2M | $103.2M | $89.9M | $73.1M | $69.5M | $46.7M | $28.9M | $20.2M |
| Total operating expenses | $789.6M | $707.2M | $667.3M | $596.2M | $476.5M | $399.1M | $384.6M | $296.8M | $202.9M | $146.0M |
| Operating income | -$9.2M | -$6.9M | -$52.2M | -$67.8M | -$41.8M | -$36.4M | -$90.8M | -$72.6M | -$40.8M | -$35.8M |
| Interest expense | $28.4M | $31.9M | $31.3M | $19.0M | $7.5M | $496.0K | $5.8M | $2.4M | $75.0K | — |
| Pre-tax income | -$22.9M | -$18.9M | -$67.4M | -$85.3M | -$42.7M | -$37.1M | -$85.6M | -$71.2M | -$40.9M | -$36.4M |
| Income tax | $13.2M | $17.4M | $10.9M | $6.9M | $4.0M | $5.7M | $13.4M | $2.4M | $171.0K | $843.0K |
| Net income | -$36.1M | -$36.3M | -$78.3M | -$92.2M | -$46.7M | -$42.7M | -$99.0M | -$73.5M | -$41.0M | -$37.2M |
| EPS, basic | -0.30 | -0.31 | -0.68 | -0.83 | -0.44 | -0.42 | -1.03 | — | — | — |
| EPS, diluted | -0.30 | -0.31 | -0.68 | -0.83 | -0.44 | -0.42 | -1.03 | -1.38 | -1.88 | -1.81 |
| Shares, diluted (wtd. avg.) | $120.1M | $118.8M | $115.4M | $111.3M | $106.4M | $101.0M | $96.0M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $187.8M | $328.6M | $237.1M | $300.9M | $278.3M | $178.5M | $74.7M | $165.4M | $27.5M | $34.5M |
| Short-term investments | $214.4M | $248.5M | $236.8M | $266.6M | $234.3M | $113.6M | $137.9M | $118.1M | $0 | — |
| Receivables | $279.1M | $258.7M | $220.1M | $187.3M | $136.6M | $115.3M | $94.8M | $68.3M | $50.9M | — |
| Total current assets | $773.6M | $940.7M | $805.5M | $857.2M | $749.4M | $483.8M | $363.0M | $396.8M | $111.3M | — |
| Property, plant and equipment | — | — | — | — | $36.8M | $38.9M | $26.8M | $11.3M | $10.8M | — |
| Goodwill | $697.9M | $541.3M | $518.5M | $316.5M | $261.6M | $54.4M | $54.1M | $265.0K | — | — |
| Other intangibles | $115.3M | $94.5M | $107.0M | $75.4M | $71.5M | $13.2M | $15.5M | $427.0K | — | — |
| Total assets | $1.75B | $1.74B | $1.61B | $1.44B | $1.25B | $690.6M | $558.6M | $460.6M | $164.3M | — |
| Accounts payable | $21.9M | $20.0M | $16.9M | $18.7M | $16.3M | $5.7M | $10.2M | $171.0K | $338.0K | — |
| Total current liabilities | $812.9M | $738.1M | $675.8M | $584.2M | $483.9M | $374.9M | $327.6M | $254.3M | $180.3M | — |
| Total liabilities | $1.42B | $1.34B | $1.26B | $1.17B | $1.03B | $539.9M | $459.7M | $338.8M | $258.3M | — |
| Retained earnings | -$897.5M | -$861.3M | -$825.0M | -$746.8M | -$654.5M | -$607.9M | -$565.1M | -$466.1M | -$392.6M | — |
| Total equity | $326.4M | $400.0M | $346.3M | $270.9M | $215.3M | $150.7M | $98.9M | $121.8M | -$371.7M | -$301.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $266.8M | $217.5M | $149.9M | $131.2M | $96.8M | $64.2M | -$10.7M | -$2.6M | -$6.3M | -$2.8M |
| Depreciation and amortisation | $42.0M | $33.2M | $27.1M | $22.2M | $16.2M | $10.6M | $6.9M | $6.2M | $4.7M | $3.1M |
| Stock-based compensation | $191.8M | $163.5M | $145.3M | $120.6M | $79.4M | $59.6M | $41.6M | $22.9M | $7.8M | $2.5M |
| Capital expenditure | $12.1M | $4.2M | $1.7M | $9.4M | $3.9M | $18.9M | $20.7M | $5.7M | $2.8M | $5.8M |
| Investing cash flow | -$174.6M | -$41.4M | -$212.6M | -$128.0M | -$391.6M | $4.1M | -$113.0M | -$123.2M | -$2.8M | -$7.9M |
| Financing cash flow | -$234.1M | -$79.4M | $1.3M | $23.3M | $397.6M | $36.4M | $34.2M | $264.7M | $2.1M | $1.4M |
| Buybacks | $247.5M | $100.0M | $14.9M | $0 | $0 | $0 | $0 | $75.0K | $385.0K | $85.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001660280-26-000005.
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