Q2 2025 Tenable Holdings Inc Earnings Call Transcript
Key Points
- Tenable Holdings Inc (TENB) reported a 12% year-over-year revenue growth and a 19% operating margin, exceeding all guided metrics.
- The company's exposure management platform, Tenable One, accounted for 40% of total new sales, indicating strong market adoption.
- Tenable Holdings Inc (TENB) added 76 net new six-figure customers and 367 new enterprise platform customers, showcasing robust customer acquisition.
- The acquisition of Apex Security is expected to enhance Tenable's AI capabilities, particularly in securing the AI attack surface.
- Tenable Holdings Inc (TENB) announced an additional $250 million increase to its share repurchase program, demonstrating a commitment to returning capital to shareholders.
- The net dollar expansion rate decreased to 107%, partly due to a constrained spending environment in the US Federal sector.
- Visibility into expansion opportunities within the US Federal market remains limited, with deals taking longer to transact.
- Gross margin is expected to be flat to modestly lower in the second half of the year due to new product launches and capabilities.
- The company faces heightened scrutiny and review levels in the federal spending environment, impacting deal closures.
- Despite strong performance, the federal market presents a headwind, with less visibility and longer transaction times for deals.
Greetings, and welcome to the Tenable second quarter 2025 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 second quarter 2025 financial results. With me on the call today are Co-Chief Executive Officers, Steve Vintz and Mark Thurmond.
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 2025, growth and drivers in our business, changes in the threat landscape in the security industry and our competitive position in the market, growth in
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