Tenable (TENB) investor relations material

Executive summary

• Q2 2026 revenue reached $269M, up 9% year-over-year, with 95% recurring revenue and Tenable One accounting for 50% of new business.

• Added 381 new enterprise customers and 32 net new six-figure accounts, with global customer count surpassing 40,000 and ~65% of Fortune 500 companies.

• AI-driven threat landscape and partnerships with Anthropic and OpenAI are fueling customer demand and platform differentiation.

• Recognized as a leader by Gartner, Forrester, and IDC in exposure management and vulnerability assessment.

• Competitive displacements and expansion within the install base contributed to growth, with notable wins in manufacturing, financial services, and government sectors.

Financial highlights

• Q2 2026 revenue was $269M, up 9% year-over-year, exceeding guidance.

• Non-GAAP gross margin was 81.4%, with non-GAAP operating margin at 25% for Q2.

• Non-GAAP EPS was $0.51, up from $0.22 in Q2 2023, aided by share repurchases.

• Unlevered free cash flow for TTM Q2 2026 was $279.9M, with a margin of 26.8%.

• Cash and short-term investments totaled $298.2M at quarter-end.

Outlook and guidance

• Q3 2026 revenue guidance: $270–$273M; full-year 2026 revenue guidance raised to $1.075–$1.081B.

• Full-year non-GAAP operating income guidance raised to $258–$264M.

• Full-year non-GAAP EPS guidance raised to $1.95–$2.00.

• Unlevered free cash flow outlook raised to $289–$295M.

• Management expects continued growth driven by enterprise expansion and international markets.