Tenable (TENB) Piper Sandler 5th Annual Growth Frontiers Conference summary

Financial performance and outlook

• Achieved revenue of $268 million in Q2, with annual revenue expected to surpass $1 billion, and raised full-year guidance for both revenue and EPS.

• Delivered over 300 new enterprise customers and saw one of the best quarters for net new six-figure customers.

• Net dollar expansion rate increased for the first time since 2022, driven by strong demand post-Mythos release.

• Committed cash billings (CCB) are tracking $8–$10 million above initial estimates, signaling accelerating growth.

• Free cash flow guidance remains strong, with positive trends in customer retention and expansion.

Product innovation and platform evolution

• Tenable One, the exposure management platform, accounted for 50% of new sales in Q2 and is expected to approach 40% of total sales by year-end.

• Asset expansion and unified visibility across domains are key drivers, with integrated solutions for cloud, OT, identity, and ASM.

• Hexa, the agentic engine, orchestrates autonomous defense and remediation, enabling machine-speed response to vulnerabilities.

• New pricing and packaging introduced, with 80% of customers choosing the Advanced package, which offers a 60% uplift over standalone products.

• Adversary View, leveraging Mythos 5, provides advanced insights through tokenized scans and assessments.

Strategic partnerships and AI integration

• Integrated Anthropic's Mythos 5 frontier model into Tenable One, a first in the security industry, enhancing proactive security capabilities.

• Partnerships with OpenAI and other frontier model companies enable joint R&D and secure agent exchanges.

• Participation in initiatives like Daybreak and Glasswing allows scanning of proprietary codebases and access to non-public AI models.

• Security community collaboration is recognized as essential for AI adoption and deployment.