Tenable Holdings Stock Earnings Reports

Tenable reported Q1 FY2026 revenue of $262.1M (up 9.6% YoY), 96% recurring revenue, non-GAAP operating margin of 23.6%, record unlevered free cash flow ($88.6M, 33.8% of revenue), and repurchased $130M of stock. The company exceeded guidance for the quarter and raised full-year revenue and non-GAAP operating income guidance (FY26 revenue guidance raised to $1.068B–$1.078B). Tenable One (their AI-powered exposure management platform) accounted for 41% of new business and added 406 new enterprise customers and 43 net new six‑figure customers. Management highlighted a surge in customer urgency driven by frontier AI (e.g., Anthropic Mythos) that can autonomously discover vulnerabilities, which they view as a tailwind for exposure management because AI will dramatically increase discovered vulnerabilities and require prioritization and automated remediation. They introduced Hexa AI — an agentic orchestration engine to convert prioritized exposures into coordinated remediation actions — and rolled out simplified flex pricing (single per-asset pricing across asset types) to reduce procurement friction and accelerate adoption. Management emphasized partnerships with frontier model providers (Anthropic, OpenAI) and expect AI to be a force multiplier for demand and internal productivity. They plan to continue balancing growth and profitability, will selectively add sales capacity while leveraging AI-driven productivity gains, and remain open to opportunistic M&A while prioritizing share repurchases given current valuation.