Q2 2026 Tenable Holdings Inc Earnings Call Transcript
Key Points
- Tenable One achieved a record 50% of new business in Q2 2026, driven by strong adoption of the new pricing and packaging.
- Net dollar expansion rate improved to 106%, the first acceleration in several quarters, signaling stabilization and growth in the install base.
- The company exceeded all guided metrics for Q2 and raised its full-year 2026 outlook for revenue, operating income, and EPS.
- Early traction with Hexa AI is strong, with over 80% of users submitting prompts and nearly half using it to take action, driving platform engagement.
- Strategic partnerships with frontier AI labs (Anthropic and OpenAI) provide early insight into evolving attack landscapes and reinforce Tenable's competitive moat.
- Revenue growth remains modest at 8.6% year-over-year, with Q3 guidance implying a slight deceleration to 7.6% at the midpoint.
- Non-GAAP gross margin slightly declined to 81.4% from 82.0% in the prior year quarter.
- The company faces ongoing competitive pressure from large platform vendors like Microsoft, which recently launched a VM program.
- While pipeline and momentum are strong, the conversion to accelerated revenue growth is expected to be a lagging indicator, with benefits weighted to the second half.
- The company is adding significant sales capacity in the second half, which could pressure near-term operating margins if productivity does not scale as expected.
Greetings and welcome to the Tenable Q2 2026 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Erin Karney, Vice President, Investor Relations. Thank you. You may begin.
Thank you, operator, and thank you all for joining us on today's conference call to discuss Tenable's second-quarter financial results. With me on the call today are Co-Chief Executive Officers, Steve Vintz and Mark Thurmond; and Chief Financial Officer Matt Brown. Prior to this call, we issued a press release announcing our financial results for the quarter. You can find the press release on our IR website at tenable.com.
We will make forward-looking statements during the course of this call, including statements relating to our guidance and expectations for the third quarter and full-year 2026, growth and drivers in our business, changes in the threat landscape in the security industry, particularly regarding
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