Tenable Announces Share Repurchase Program

Rhea-AI Summary

Tenable Holdings, Inc. (TENB) authorizes $100 million stock repurchase program to enhance shareholder value.

Positive

• Tenable authorizes a $100 million stock repurchase program, indicating confidence in the company's financial position and future prospects.

Negative

• None.

COLUMBIA, Md., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Tenable Holdings, Inc. ("Tenable") (Nasdaq: TENB), the Exposure Management company, today announced that its Board of Directors has approved the repurchase of up to an aggregate of $100 million of its Common Stock.

“We believe that the repurchase program is a good investment of available funds generated from increased operating margins and unlevered free cash flow and underscores our commitment to enhancing stockholder value,” said Steve Vintz, chief financial officer, Tenable.

Tenable may purchase shares in the open market, in privately negotiated transactions or in such other manner as determined by Tenable, including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission. The authorization has no expiration date.

About Tenable
Tenable^® is the Exposure Management company. Approximately 43,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus^®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include approximately 60 percent of the Fortune 500, approximately 40 percent of the Global 2000, and large government agencies. Learn more at tenable.com.

Media Contact:
Tenable
tenablepr@tenable.com

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” "believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2022 and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 as well as other filings that we make from time to time with the SEC, which are available on the SEC's website at sec.gov. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

FAQ

What did Tenable Holdings, Inc. (TENB) announce?

Tenable Holdings, Inc. (TENB) announced the approval of a $100 million stock repurchase program by its Board of Directors.

Why did Tenable Holdings, Inc. (TENB) approve the stock repurchase program?

The company approved the repurchase program to invest available funds generated from increased operating margins and unlevered free cash flow, aiming to enhance stockholder value.

How much stock will Tenable Holdings, Inc. (TENB) repurchase?

Tenable Holdings, Inc. (TENB) will repurchase up to an aggregate of $100 million of its Common Stock.

What is the expiration date of the repurchase authorization?

The authorization for the stock repurchase program has no expiration date, providing flexibility for Tenable Holdings, Inc. (TENB) to execute the repurchase.

How will Tenable Holdings, Inc. (TENB) purchase the shares?

Tenable Holdings, Inc. (TENB) may purchase shares in the open market, in privately negotiated transactions, or through repurchase plans complying with SEC rules and regulations.