Tenable Holdings, Inc. · NASDAQ:TENB
Tenable — Investor Presentation (July 2026)
20 slides from Tenable's investor presentation, July 2026
Slide 1: Your exposure ends here
Your exposure ends here July 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and our object
Slide 3: About Tenable
About Tenable 40K+ $1B+ 1.7T NASDAQ: TENB Customers across 160 Revenue, 95% recurring Unique exposure data countries points / year, unifying across the attack surface ~65% 27% Leader of Fortune 500 Unlevered free cash flow Gartner, Forrester, IDC companies margin 3
Slide 4: The evolving threat landscape
The evolving threat landscape K+ days zero-days vulnerabilities The time-to-exploit window has collapsed Found in one month by Anthropic’s High- or critical-severity vulnerabilities Claude Opus 4.6 discovered by Claude Mythos Preview 4 Sources: Zero Day Clock, Anthropic
Slide 5: Exposure management doesn't just reduce risk, it transforms how security operates
Exposure management doesn’t just reduce risk, it transforms how security operates 10x 75% 82% 53% Asset visibility Less time Reduction in SOC Lower licensing improvement aggregating data ticket volume costs 5
Slide 6: Tenable One Exposure Management Platform
Tenable One Exposure Management Platform Risk Reduction Outcomes Complete Exposure Attack Path Predictive Risk Automated Business-Aligned Visibility Visualizations Prioritization Remediation Risk Metrics Tenable Hexa Agentic Layer Tenable Built-in, Third Party and Customer-built Agents Workflows Rem
Slide 7: Tenable Hexa AI: Turn exposure intelligence into machine-speed action
Understand context Hexa operates from a live, connected model of your entire environment. It knows how your assets, identities, Tenable Hexa AI: vulnerabilities, and AI systems interact. No guesswork. No stale data. Turn exposure intelligence into Determine priority machine-speed Hexa goes beyond se
Slide 8: Industry Analyst and Peer Recognition
Industry Analyst and Peer Recognition A Leader in the IDC MarketScape: Worldwide Tenable Leads the market for Worldwide Device A Leader in The Forrester Wave : UVM, Q3 Exposure Management 2025 Vendor Vulnerability and Exposure Management2 20253 Assessment1 #1 Market Share Tenable 26.6% Rest of marke
Slide 9: Industry Analyst and Peer Recognition
Industry Analyst and Peer Recognition Tenable is Positioned as a Leader in the 2025 Gartner names Tenable as the Current Company Tenable Named a Customers’ Choice in the 2025 Gartner® Magic QuadrantTM for Exposure to Beat for AI-Powered Exposure Assessment in Gartner Peer InsightsTM Voice of the Cus
Slide 10: Q2 2026 quarterly earnings results
Q2 2026 quarterly earnings results 50% 381 Tenable One as a New enterprise % of new sales platform customers $269M 25% Quarterly revenue Non-GAAP 9% YoY growth Operating Margin Note: See Appendix for definitions of non-GAAP financial measures and a reconciliation from GAAP measures to the non-GAAP m
Slide 11: High recurring revenue and double digit revenue growth
High recurring revenue and double digit revenue growth Trailing twelve months (TTM) revenue ($m) 95% Q2 2026 recurring revenue Revenue growing at 12% CAGR 11
Slide 12: Landing Higher Value Customers
Landing Higher Value Customers LTM $100K+ ACV accounts(1) 1 Chart represents the number of customers with $100K and greater of annual contract value (ACV) for the last 12 months. 12
Slide 13: Strong operating leverage
Strong operating leverage Trailing twelve months (TTM) Trailing twelve months (TTM) Non-GAAP operating income and margins ($M) Unlevered Free Cash Flow and margins ($M) 12.3% 17.9% 21.1% 24.0% 20.3% 21.4% 29.2% 26.8% 10.3% 16.9% 21.2% 22.7% Note: See Appendix for definitions of non-GAAP financial me
Slide 14: Significant increase in earnings per share
Significant increase in earnings per share Non-GAAP EPS 11.4M Shares repurchased YTD, driving decrease in diluted shares outstanding Note: See Appendix for definitions of non-GAAP financial measures and a reconciliation from GAAP measures to the non-GAAP measures. 14
Slide 15: Q3 and FY 2026 outlook
Q3 and FY 2026 outlook Q3 2026 forecast FY26 forecast Revenue $270.0 million - $273.0 million $1.075 billion - $1.081 billion Non-GAAP income from ops $66.0 million - $69.0 million $258.0 million - $264.0 million Non-GAAP net income $58.0 million - $61.0 million(1) $228.0 million - $234.0 million(2)
Slide 16: Appendix
Appendix Ottenable
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures Free Cash Flow and Unlevered Free Cash Flow: We define free cash flow, a non-GAAP financial measure, as net cash provided by operating activities less purchases of property and equipment and capitalized software development costs. We believe fr
Slide 18: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Unlevered Free Cash Flow: Q2 2026 TTM Q2 '26 TTM Q2 '25 TTM Q2 '24 TTM Q2 '23 Net cash provided by operating activities $ 44,716 $ 269,567 $ 265,596 $ 162,666 $ 136,710 Purchases of property and equipment (1,373) (5,161) (13,957) (1,797) (7,221) Capitalized software
Slide 19: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Non-GAAP Net Income and Non-GAAP Earnings Per Q2 2023 Q2 2024 Q2 2025 Q2 2026 Share: Net income (loss) $ (15,974) $ (14,572) $ (14,706) $ 3,805 Stock-based compensation 37,860 41,398 46,526 46,349 Tax impact of stock-based compensation 1,336 1,175 1,041 344 Acquisiti
Slide 20: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Non-GAAP Gross Profit and Non-GAAP Gross Margin: Q2 2026 Gross profit $ 208,175 Stock-based compensation 3,565 Amortization of acquired intangible assets 6,783 Non-GAAP gross profit $ 218,523 Gross margin 77.5 % Non-GAAP gross margin 81.4 % 20