Tenable Reports 9.6% Q1 Revenue Growth and $130M Stock Repurchase
Tenable reported Q1 revenue of $262.1 million, a 9.6% increase, with GAAP operating margin of 3.3% and non-GAAP margin of 23.6%, and generated $88.6 million in unlevered free cash flow. It repurchased 6.1 million shares for $130 million and guided full-year revenue of $1.068–1.078 billion.
1. Q1 Financial Performance
Tenable delivered revenue of $262.1 million, up 9.6% year-over-year, with GAAP operating margin improving to 3.3% from –7.4% and non-GAAP operating margin expanding to 23.6%, up 320 basis points. GAAP net income reached $1.4 million, or $0.01 per share, versus a loss of $22.9 million, or $0.19 per share, last year, while non-GAAP diluted EPS rose to $0.47 from $0.36.
2. Cash Generation and Share Repurchase
The company generated $88.0 million in operating cash flow and $88.6 million in unlevered free cash flow for the quarter. Tenable deployed $130.0 million to repurchase 6.1 million shares of common stock, reinforcing its capital return strategy.
3. Guidance and Outlook
For Q2 2026, Tenable expects revenue of $263.0–266.0 million and non-GAAP income from operations of $61.0–64.0 million, with diluted EPS of $0.46–0.48. Full-year revenue is guided at $1.068–1.078 billion, non-GAAP operating income of $252.0–262.0 million, diluted EPS of $1.90–1.98 and unlevered free cash flow of $285.0–295.0 million.
4. Business Highlights and Innovation
Tenable added 406 new enterprise platform customers and 43 net new six-figure clients in Q1. The launch of Tenable Hexa AI and recognition in key industry reports underscore its leadership in AI-powered exposure management, while an investor day is scheduled for May 21 to outline long-term targets.