Tenable (TENB) Cantor Fitzgerald Global Technology Conference summary

Leadership transition and CEO search

• Board is conducting a search for a new CEO, considering both internal and external candidates, with a focus on strategic vision and growth in exposure management.

• Current co-CEOs, also serving as CFO and COO, are maintaining company direction and vision established since 2018.

Strategic shift to exposure management

• Company has evolved from vulnerability management to exposure management, integrating risk assessment across network, cloud, web apps, and OT.

• Exposure management platform is gaining traction, offering higher selling prices and addressing cyber as a big data problem.

• About 20% of business now comes from non-traditional VM (exposure solutions), growing at roughly 30%, with cloud within that segment growing 100%.

• Platform integrates data from multiple sources, including third-party providers, to drive remediation and risk reduction.

Competitive landscape and market positioning

• Maintains high win rates (65-70%) in VM opportunities, with limited impact from new entrants like CrowdStrike.

• Differentiates from competitors by breadth and depth of asset coverage and integration of data for holistic risk management.

• Sees foundational value in on-premise VM, with hybrid environments driving continued relevance.