Companies /Technology

Tenable Holdings Inc

NASDAQ: TENB Software - Infrastructure
$34.24
▼ $1.23 (−3.47%) today
Markets closed · 4:42am ET

Q2 2025 Earnings

Reported Jul 30, 2025, 4:12pm ET · SEC source
$0.34
Beat +12.32%
EPS · est. $0.30
$247.3M
Beat +2.13%
Revenue · est. $242.1M
−3.9%
Trailing market
TENB vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−10%−5%0+5%Jul 30Jul 31report 4:12pm ETearnings−0.9%−6.5%
−10%−5%0+5%Jul 30Jul 31earnings−0.9%−6.5%
TENB −6.5%S&P 500 −0.9%
−10%−5%0+5%Jul 30Jul 31report 4:12pm ETearnings−1.3%−6.5%
−10%−5%0+5%Jul 30Jul 31earnings−1.3%−6.5%
TENB −6.5%NASDAQ −1.3%
−18%−12%−6%0Jul 29Aug 7report 4:12pm ETearnings−0.8%−18.3%
−18%−12%−6%0Jul 29Aug 7earnings−0.8%−18.3%
TENB −18.3%S&P 500 −0.8%
−18%−12%−6%0Jul 29Aug 7report 4:12pm ETearnings−0.5%−18.3%
−18%−12%−6%0Jul 29Aug 7earnings−0.5%−18.3%
TENB −18.3%NASDAQ −0.5%
−2.88%
Day of report
−2.36%
Next session
−6.04%
One week
−2.62%
30 days

S&P 500 over the same 30 days: +1.30%.

Did TENB Beat Earnings? Q2 2025 Results

Tenable Holdings posted a clean beat across the board in the second quarter of 2025, with non-GAAP diluted EPS of $0.34 clearing the $0.30 consensus by 12.32% and revenue of $247.29 million coming in ahead of the $242.14 million estimate while growing 11.8% year over year. The primary engine behind the quarter was accelerating adoption of the Tenable One exposure management platform, as enterprises increasingly consolidated security spending around unified attack surface visibility, a trend that helped the company add 367 new enterprise platform customers and 76 net new six-figure customers during the period. Remaining performance obligations climbed 19% year over year to $889.14 million, with the long-term portion up 41%, underscoring the depth of multi-year commitments. The results arrive even as the stock has faced notable pressure, trading near recent lows despite what management characterized as strong underlying fundamentals. Looking ahead, Tenable guided Q3 revenue of $246.00 million to $248.00 million and full-year 2025 revenue of $981.00 million to $987.00 million, with non-GAAP diluted EPS of $1.45 to $1.53.

Key Takeaways
  • Adoption of Tenable One exposure management platform
  • Customers prioritizing preemptive security measures and unified attack surface visibility
  • Major expansions across industries and competitive wins against major players
  • Subscription revenue growth of 12.6% year-over-year
  • Recurring revenue representing 96% of total revenue

“We beat all of our guided metrics during the quarter, delivering 12% revenue growth and 19% operating margin. Our outperformance was driven by the adoption of our exposure management platform, as customers are becoming more strategic with their security investments, prioritizing preemptive measures and seeking a unified view of their attack surface to reduce risk.”

Tenable Holdings CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2025, Tenable expects revenue of $246.0M–$248.0M, non-GAAP income from operations of $52.0M–$54.0M, non-GAAP net income of $44.0M–$46.0M, and non-GAAP diluted EPS of $0.36–$0.37 on 123.0M diluted weighted average shares. For full-year 2025, the company expects calculated current billings of $1.038B–$1.048B, revenue of $981.0M–$987.0M, non-GAAP income from operations of $205.0M–$215.0M, non-GAAP net income of $179.0M–$189.0M, non-GAAP diluted EPS of $1.45–$1.53 on 123.5M diluted weighted average shares, and unlevered free cash flow of $265.0M–$275.0M.

TENB YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$80.0M$160.0M$240.0M$221.2M$247.3MRevenue$172.4M$192.9MGross Profit$-6,446,252$-7,448,000Operating Income$-14,842,551$-14,706,000Net Income
$0$80.0M$160.0M$240.0MRevenueGross ProfitOperating IncomeNet Income

TENB Revenue by Segment

Subscription$228.0M
Perpetual License and Maintenance$11.4M
Professional Services and Other$7.9M
Professional Services

Figures from SEC filings and company reports. Not investment advice.