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Dec 31, 2025
Tenable Q4 2025 Earnings Report
Tenable reported strong financial results for the fourth quarter and full year 2025, exceeding all guided metrics and announcing an increase in its share repurchase authorization.
Key Takeaways
Tenable Holdings, Inc. announced robust financial results for Q4 and the full year 2025, surpassing all guided metrics. The company reported a 11% year-over-year increase in revenue to $260.5 million for Q4 and $999.4 million for the full year. Non-GAAP diluted EPS for Q4 was $0.48, significantly up from $0.41 in Q4 2024.
Fourth quarter revenue increased by 11% year-over-year to $260.5 million, exceeding expectations.
Full year revenue reached $999.4 million, also an 11% increase year-over-year.
Non-GAAP diluted earnings per share for Q4 2025 was $0.48, compared to $0.41 in Q4 2024.
The company announced a $150 million increase to its share repurchase authorization, bringing the total remaining authorization to $338 million.
Revenue by Segment
Forward Guidance
Tenable provided optimistic guidance for Q1 and the full year 2026, anticipating continued revenue growth and strong non-GAAP income from operations, while transitioning away from calculated current billings as a primary performance metric.
Positive Outlook
- Q1 2026 revenue is expected to be between $257.0 million and $260.0 million.
- Full year 2026 revenue is projected to be between $1.065 billion and $1.075 billion.
- Non-GAAP income from operations for Q1 2026 is expected to be between $53.0 million and $56.0 million.
- Full year 2026 non-GAAP income from operations is projected to be between $245.0 million and $255.0 million.
- Full year 2026 unlevered free cash flow is expected to be between $285.0 million and $295.0 million.
Challenges Ahead
- Changes in billing duration due to the shift to annual installment billing are creating negative distortion in calculated current billings.
- The company will no longer provide a specific guidance range for calculated current billings in 2026 and forward.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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