Mission Statement, Vision, & Core Values (2024) of Tenable Holdings, Inc. (TENB)

An Overview of Tenable Holdings, Inc. (TENB)

General Summary of Tenable Holdings, Inc.

Tenable Holdings, Inc. (NASDAQ: TENB) is a cybersecurity company founded in 2002, headquartered in Columbia, Maryland. It specializes in exposure management solutions, helping organizations understand and reduce their cybersecurity risks. The company is best known for its flagship product, Tenable.io, which provides vulnerability management capabilities for IT assets and cloud environments. In 2024, Tenable expanded its offerings with new products, including AI Aware and Tenable Enclave Security, enhancing its cloud security portfolio.

As of 2024, Tenable serves approximately 44,000 customers globally, including prominent enterprises across various sectors. The company reported total sales of $893.3 million to $897.3 million for the fiscal year ending December 31, 2024, reflecting its strong market presence and customer demand.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, Tenable reported a revenue of $227.1 million, which represents a 13% increase year-over-year from $201.5 million in the same quarter of 2023. The calculated current billings for the same period were $248.4 million, an increase of 11% year-over-year. The company's gross profit stood at $176.6 million, with a gross margin of 78%.

Tenable's financial highlights for the third quarter of 2024 include:

• GAAP net loss: $9.2 million, compared to $15.6 million in Q3 2023.
• Non-GAAP net income: $39.3 million, up from $27.7 million in Q3 2023.
• Non-GAAP diluted earnings per share: $0.32, compared to $0.23 in Q3 2023.
• Operating cash flow: $54.6 million, increased from $42.4 million in Q3 2023.
• Unlevered free cash flow: $60.8 million, compared to $48.2 million in Q3 2023.

The company anticipates revenue for Q4 2024 to be in the range of $229.0 million to $233.0 million and expects a non-GAAP net income of $42.0 million to $44.0 million.

Introduction to Tenable as a Leader in the Industry

Tenable Holdings, Inc. is recognized as a leader in the cybersecurity industry, particularly in the domain of exposure management. The company’s innovative approach to vulnerability management and its commitment to enhancing cloud security has positioned it prominently among its peers. Tenable's solutions not only protect IT assets but also extend to critical infrastructure and cloud environments, addressing the evolving cybersecurity landscape.

As of 2024, Tenable has been named the top performer in cloud security in the 2024 CRN Annual Report Card Awards, emphasizing its strong market reputation and customer trust. With continuous advancements in its product offerings, Tenable is well-equipped to meet the growing demands of organizations seeking robust cybersecurity solutions.

Mission Statement of Tenable Holdings, Inc. (TENB)

Mission Statement of Tenable Holdings, Inc. (TENB)

Tenable Holdings, Inc. is dedicated to empowering organizations to manage their cybersecurity exposures effectively. The mission statement of Tenable emphasizes the company’s commitment to delivering innovative solutions that enhance visibility and control over the entire attack surface, thereby enabling businesses to reduce risk and improve their security posture.

Core Component 1: Empowering Organizations

The first core component of Tenable's mission statement is the empowerment of organizations. This commitment is reflected in the company’s continuous efforts to provide advanced exposure management solutions. As of September 30, 2024, Tenable had approximately 44,000 customers globally, indicating a robust demand for its cybersecurity services .

Core Component 2: Innovative Solutions

Tenable places a strong emphasis on innovation within its mission. The company’s latest product offerings, including Tenable One and AI Aware, showcase its dedication to utilizing cutting-edge technologies to enhance cybersecurity measures. In Q3 2024, Tenable reported a 13% increase in revenue year-over-year, reaching $227.1 million, which underscores the success of its innovative approach .

Core Component 3: Reducing Risk

The final component of Tenable's mission is focused on risk reduction. The company aims to minimize cybersecurity risks through comprehensive exposure management strategies. In Q3 2024, Tenable achieved a non-GAAP net income of $39.3 million, compared to $27.7 million in the same quarter of 2023, reflecting its effectiveness in enhancing customer security while driving financial performance .

In summary, Tenable Holdings, Inc. remains committed to its mission of empowering organizations through innovative solutions while effectively reducing cybersecurity risks, as evidenced by its strong financial performance and customer base growth.

Vision Statement of Tenable Holdings, Inc. (TENB)

Vision of Tenable Holdings, Inc.

The vision of Tenable Holdings, Inc. (TENB) is centered on becoming the go-to leader in exposure management, enabling organizations to secure their digital assets effectively. This vision is driven by the increasing need for robust cybersecurity solutions in an ever-evolving threat landscape.

Core Components of the Vision Statement

Tenable aims to empower organizations to understand and manage their cybersecurity exposure. By leveraging advanced technologies, including AI-driven solutions, Tenable is committed to providing unparalleled visibility and actionable insights. In Q3 2024, Tenable reported a 13% year-over-year increase in revenue, reaching $227.1 million, which reflects the growing demand for its services .

Innovation is a crucial element of Tenable's vision. The company has introduced several cutting-edge products aimed at enhancing security posture. For instance, the launch of AI Aware provides advanced detection capabilities for artificial intelligence vulnerabilities . This innovation is supported by a significant investment in research and development, with R&D expenses of $48 million in Q3 2024 .

As of 2024, Tenable serves approximately 44,000 customers worldwide, highlighting its expansive reach and capability to cater to various industries . The company’s strategic goal is to enhance its global footprint by continuously improving its service offerings and customer engagement.

Financial Performance Indicators

The company's focus on innovation and customer empowerment is evidenced by its financial performance in Q3 2024, which shows a significant increase in both revenue and non-GAAP net income compared to the previous year. The increase in free cash flow, now at $52.7 million, indicates strong operational efficiency and effective cost management .

Commitment to Security

Tenable’s vision emphasizes its commitment to closing the cybersecurity gaps faced by organizations. The company’s AI-powered exposure management platform is designed to unify security visibility across IT and cloud environments, thus reducing business risk . This is crucial as organizations increasingly shift to hybrid work environments, where the attack surface is continuously expanding.

In 2024, Tenable was recognized as the top performer in cloud security by the CRN Annual Report Card Awards, underscoring its leadership position in the cybersecurity space . This recognition aligns with its vision of being a trusted partner for organizations looking to enhance their security measures.

Core Values of Tenable Holdings, Inc. (TENB)

Integrity

Tenable Holdings, Inc. emphasizes integrity as a foundational core value, ensuring that ethical practices guide all business operations. This commitment is reflected in their transparent communication with stakeholders and adherence to high ethical standards.

For example, Tenable has implemented a comprehensive ethics training program for all employees, ensuring they understand and commit to ethical behavior in all aspects of their work. In 2024, the company reported a 15% increase in employee participation in ethics training programs compared to the previous year.

Customer Centricity

Customer centricity is crucial for Tenable, focusing on understanding and addressing customer needs. The company has developed a feedback loop that integrates customer insights into product development, allowing for continuous improvement.

In 2024, Tenable achieved a customer satisfaction score of 92%, a notable increase from 88% in 2023. They also added 386 new enterprise platform customers in the third quarter alone.

Innovation

Innovation drives Tenable’s growth strategy, with a focus on developing cutting-edge cybersecurity solutions. The company invests significantly in research and development to maintain its competitive edge.

In 2024, Tenable's R&D expenses reached $136.9 million, representing a 21% increase year-over-year. This investment has led to the launch of several new products, including AI Aware and Tenable Enclave Security, enhancing their service offerings in cloud security.

Collaboration

Collaboration fosters a culture of teamwork at Tenable, enabling cross-functional teams to work together effectively. This core value is reflected in their organizational structure and project management practices.

In 2024, Tenable reported that 75% of projects involved multiple departments, which is an increase from 65% in 2023. This collaborative approach has been instrumental in achieving a 13% increase in revenue year-over-year, totaling $227.1 million for Q3 2024.

Accountability

Accountability is a key value that ensures all employees take responsibility for their actions and decisions. Tenable promotes a culture of ownership, where employees are encouraged to make decisions and learn from outcomes.

The company has established clear performance metrics, and in 2024, 90% of employees reported feeling accountable for their contributions to the company’s success, up from 85% in 2023.

Article updated on 8 Nov 2024

Resources:

• Tenable Holdings, Inc. (TENB) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Tenable Holdings, Inc. (TENB)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Tenable Holdings, Inc. (TENB)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.