Tenable Holdings, Inc. reported a revenue of $900.0 million for the fiscal year ending December 31, 2024, marking a 13% increase from $798.7 million in 2023. The company's net loss narrowed to $36.3 million, compared to a loss of $78.3 million in the previous year. This improvement in profitability was attributed to a significant rise in subscription revenue, which grew by 14% to $824.7 million, reflecting the company's successful expansion in its customer base and product offerings.
The company experienced notable operational changes, including the acquisition of Eureka Security, Inc. in June 2024 for $29.2 million, and Ermetic, Ltd. in October 2023 for $243.8 million. These acquisitions are expected to enhance Tenable's capabilities in cloud security and data security posture management. Additionally, Tenable announced the acquisition of Vulcan Cyber in February 2025, further solidifying its position in the cybersecurity market.
As of December 31, 2024, Tenable had approximately 44,000 customers, including 65% of the Fortune 500 and 50% of the Global 2000. The company reported a dollar-based net expansion rate of 108%, indicating strong customer retention and growth in existing accounts. International revenue accounted for 46% of total revenue, with significant contributions from Europe, the Middle East, and Asia Pacific regions. The company also reported a backlog of $33.2 million, which is expected to be invoiced within the next 12 months.
Tenable's workforce grew to 1,872 employees by the end of 2024, with a focus on expanding its sales and marketing teams to support its growth strategy. The company continues to invest in research and development, with expenses in this area increasing by 19% year-over-year to $181.6 million. Looking ahead, Tenable aims to maintain its growth trajectory by enhancing its product offerings, expanding its customer base, and exploring further acquisition opportunities, despite the challenges posed by a competitive market and economic uncertainties.
About Tenable Holdings, Inc.
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