Tenable (TENB) J.P. Morgan 54th Annual Global Technology, Media and Communications Conference summary

Market trends and customer engagement

• Exposure Management Conference in Boston attracted 650-700 global customers, with a spike in CISO and executive attendance following recent vulnerability events like Mythos.

• Customers are increasingly seeking full visibility across their attack surface, including IT, cloud, OT, SaaS, and third-party assets.

• Demand pipeline is strong, with conversations converting into sales opportunities and broader strategic deals.

• Executives are now more directly involved in expansion discussions, especially regarding upgrades from VM to Tenable One.

• Customers express concern over advanced persistent threats leveraging frontier AI models, driving urgency for proactive security.

Product innovation and AI integration

• Hexa, an AI agentic platform, is being launched to automate remediation and reduce manual security tasks from weeks to days or seconds.

• Hexa is only available on Tenable One, incentivizing migration from legacy VM customers.

• Early access customers have reported significant productivity gains, and the platform leverages Anthropic’s Claude model.

• Automated remediation and attack path analysis are key differentiators, especially as AI models can chain low-level vulnerabilities into major threats.

• Partnership with Anthropic will be detailed at the conference, with Anthropic’s deputy CISO presenting.

Pricing, packaging, and growth strategy

• New pricing introduces Tenable One Foundation as an easy on-ramp for non-platform customers, with modest price uplifts for upgrades.

• Customers can expand asset coverage or upgrade to Advanced, with price increases ranging from 6% to 60%.

• 41% of new business last quarter was on the platform, up 8 percentage points year-over-year.

• Hexa uses a tokenized, consumption-based model, with incremental charges as usage grows.

• Flex pricing simplifies cost structure, allowing customers to mix and match asset types under a single price per asset.