Tenable Holdings Stock Price, News & Analysis

Tenable (Nasdaq: TENB) reported Q2 2021 revenue of $130.3 million, up 22% year-over-year, driven by the addition of 399 new enterprise customers and 67 six-figure clients. The company achieved calculated current billings of $136.8 million, a 23% increase year-over-year. While experiencing a GAAP loss from operations of $11.9 million, Tenable reported a non-GAAP income of $11.5 million. The company expects $133.0 million to $135.0 million in revenue for Q3 2021 and is confident in its growth trajectory following the acquisition of Alsid and new credit facility.

Tenable (NASDAQ: TENB) will release its second quarter financial results after market close on July 27, 2021. A conference call is scheduled for 4:30 p.m. ET the same day to discuss these results. Investors can access a live webcast on the Tenable Investor Relations website, with a replay available until August 10, 2021. Tenable serves over 30,000 organizations globally, including more than 50% of the Fortune 500, providing crucial cyber exposure solutions.

Tenable has announced a new credit agreement consisting of a $375 million senior secured term loan and a $50 million senior secured revolving credit facility. The term loan carries an interest rate of 2.75% plus LIBOR, maturing in 2028, while the revolving facility's interest rate ranges from 2.00% to 2.50% over LIBOR, maturing in 2026. The proceeds from this credit facility will be used for general corporate purposes, including capital expenditures and acquisitions. The agreement was arranged by several banks, including JPMorgan and Bank of America.

Tenable has been awarded the Technology Alliances Partner of the Year by BeyondTrust, a leader in Privileged Access Management. This recognition follows BeyondTrust's decision to name Tenable as its exclusive vulnerability management partner after exiting the market in 2020. Tenable aims to help organizations manage vulnerabilities and secure their most valuable assets efficiently. The partnership includes strategic integrations and a sales referral agreement, enhancing visibility and control over privileged accounts, benefiting joint customers.

Tenable has partnered with CyberNB's Critical Infrastructure Security Operations Center (CI-SOC) to bolster Canada's critical infrastructure security. This first-of-its-kind collaboration allows Tenable to provide risk-based vulnerability management solutions, enhancing stakeholders' ability to predict and mitigate cybersecurity risks. Through this partnership, stakeholders will gain access to Tenable’s advanced analytics and technology, enabling them to identify vulnerabilities efficiently and share best practices for safeguarding critical infrastructure.

Tenable announced a strategic collaboration with Deloitte to enhance security in smart manufacturing environments worldwide. As part of the initiative, Tenable.ot, a solution for securing IT/OT environments, will be showcased in Deloitte's Smart Factory @ Wichita. A study indicates that 86% of manufacturers view smart factories as vital for competitiveness in the next five years. This partnership addresses the growing importance of operational technology security, providing organizations with advanced threat detection and vulnerability management.

Tenable has appointed Niloofar Razi Howe as an independent director, effective May 25, 2021. With extensive experience in cybersecurity and corporate strategy, Howe will contribute to Tenable's mission of enhancing digital transformation and cloud initiatives. Currently a senior partner at Energy Impact Partners, Howe's previous positions include chief strategy officer at RSA and Endgame. Tenable, trusted by over 30,000 organizations globally, aims to provide comprehensive cyber risk visibility across diverse environments, aligning with Howe's vision for holistic security solutions.

Tenable has appointed Nico Popp as Chief Product Officer to lead global engineering and product management. Popp joins from Forcepoint, bringing substantial cybersecurity expertise, particularly in cloud solutions. His role aims to advance Tenable's Cyber Exposure vision, helping organizations better manage cyber risks across diverse environments. With a proven record of innovation and leadership in cloud services, Popp's appointment is expected to enhance Tenable's capabilities in digital transformation and risk prioritization.