Tenable Holdings, Inc. reported a revenue of $999.4 million for the fiscal year ending December 31, 2025, marking an 11% increase from $900.0 million in 2024. The company's net loss for the year was $36.1 million, slightly down from a loss of $36.3 million in the previous year. Despite the ongoing losses, Tenable generated $266.8 million in cash from operating activities, reflecting a significant increase from $217.5 million in 2024. The company continues to rely heavily on subscription revenue, which accounted for 96% of total revenue in both 2025 and 2024.
In terms of operational metrics, Tenable's customer base grew to over 40,000, including approximately 65% of the Fortune 500 and 50% of the Global 2000. The company reported a dollar-based net expansion rate of 106% for 2025, indicating strong customer retention and upselling capabilities. The number of customers with annual contract values exceeding $100,000 also increased to 2,161, up from 1,988 in 2024. Geographically, international revenue rose by 14% to $273.1 million, while U.S. revenue increased by 8% to $610.9 million.
Strategically, Tenable made significant acquisitions in 2025, including Apex Security, which enhances its capabilities in managing AI-related cybersecurity risks, and Vulcan Cyber, which strengthens its risk management offerings. These acquisitions are expected to bolster Tenable's position in the exposure management market. The company also continues to invest in its AI-powered Tenable One platform, which integrates various security solutions to provide a unified view of risk across different assets.
Looking ahead, Tenable anticipates continued growth driven by its expanding customer base and product offerings. The company plans to invest further in research and development, sales, and marketing to capture additional market share. However, it acknowledges potential challenges, including intense competition in the cybersecurity space and the need to adapt to evolving market conditions. Tenable's management remains focused on achieving profitability while navigating these complexities.
About Tenable Holdings, Inc.
Tenable Holdings, Inc. provides exposure management solutions that assess and prioritize cybersecurity risks across complex attack surfaces, including cloud, IT, OT, and web environments. Its platform unifies visibility, insights, and automated actions to help organizations identify, understand, and mitigate vulnerabilities. Serving diverse industries worldwide, Tenable leverages AI, extensive vulnerability data, and a broad product ecosystem to enable proactive cybersecurity risk reduction.
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