Tenable (TENB) financial statements
Tenable reported revenue of $999M in fiscal 2025, up 26.1% a year over 9 years.
Net income was -$36M and the operating margin -0.9%, against -28.8% in 2016.
Free cash flow was $250M, and the company returned $247M in net buybacks.
The diluted share count rose 473% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Tenable's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $124M | $188M | $267M | $355M | $440M | $541M | $683M | $799M | $900M | $999M |
| Cost of revenue | $14M | $26M | $43M | $61M | $78M | $106M | $155M | $184M | $200M | $219M |
| Gross profit | $110M | $162M | $224M | $294M | $363M | $435M | $528M | $615M | $700M | $780M |
| Research and development | $40M | $58M | $77M | $87M | $102M | $116M | $144M | $153M | $182M | $224M |
| Selling, general and admin | $106M | $145M | $220M | $298M | $297M | $360M | $453M | $510M | $520M | $563M |
| Operating income | -$36M | -$41M | -$73M | -$91M | -$36M | -$42M | -$68M | -$52M | -$7M | -$9M |
| Interest expense | — | — | — | — | $496,000 | $8M | $19M | $31M | $32M | $28M |
| Pre-tax income | -$40M | -$29M | $1M | -$22M | -$7M | -$3M | -$24M | -$26M | $26M | $20M |
| Income tax | $843,000 | $171,000 | $2M | $13M | $6M | -$4M | $7M | $11M | $17M | $13M |
| Net income | -$37M | -$41M | -$74M | -$99M | -$43M | -$47M | -$92M | -$78M | -$36M | -$36M |
| EPS (diluted) | -$1.81 | -$1.88 | -$1.38 | -$1.03 | -$0.42 | -$0.44 | -$0.83 | -$0.68 | -$0.31 | -$0.30 |
| Diluted shares | 21M | 22M | 54M | 96M | 101M | 106M | 111M | 115M | 119M | 120M |
| Gross margin | 88.6% | 86.4% | 83.9% | 82.8% | 82.4% | 80.3% | 77.3% | 77.0% | 77.8% | 78.1% |
| Operating margin | -28.8% | -21.7% | -27.1% | -25.6% | -8.3% | -7.7% | -9.9% | -6.5% | -0.8% | -0.9% |
| Net margin | -29.9% | -21.9% | -27.5% | -27.9% | -9.7% | -8.6% | -13.5% | -9.8% | -4.0% | -3.6% |
Balance sheet
Fiscal years, from Tenable's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $34M | $27M | $283M | $212M | $292M | $512M | $567M | $474M | $577M | $402M |
| Receivables | — | $51M | $68M | $95M | $115M | $137M | $187M | $220M | $259M | $279M |
| Total current assets | — | $111M | $397M | $363M | $484M | $749M | $857M | $805M | $941M | $774M |
| Property, plant and equipment | — | $11M | $11M | $27M | $39M | $37M | $47M | $45M | $39M | $40M |
| Goodwill | — | $265,000 | $265,000 | $54M | $54M | $262M | $317M | $519M | $541M | $698M |
| Total assets | — | $164M | $461M | $559M | $691M | $1.2B | $1.4B | $1.6B | $1.7B | $1.7B |
| Total current liabilities | — | $180M | $254M | $328M | $375M | $484M | $584M | $676M | $738M | $813M |
| Total liabilities | — | $258M | $339M | $460M | $540M | $1.0B | $1.2B | $1.3B | $1.3B | $1.4B |
| Shareholders' equity | -$302M | -$372M | $122M | $99M | $151M | $215M | $271M | $346M | $400M | $326M |
| Net debt | -$34M | -$27M | -$165M | -$74M | -$178M | -$278M | -$301M | -$237M | -$329M | -$188M |
Cash flow
Fiscal years, from Tenable's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3M | -$6M | -$3M | -$11M | $64M | $97M | $131M | $150M | $217M | $267M |
| Capital spending | $6M | $3M | $6M | $21M | $20M | $7M | $19M | $9M | $11M | $17M |
| Free cash flow | -$9M | -$9M | -$8M | -$31M | $44M | $90M | $112M | $141M | $207M | $250M |
| Stock-based compensation | $3M | $8M | $23M | $42M | $60M | $79M | $121M | $145M | $164M | $192M |
| Share buybacks (net) | -$85,000 | -$385,000 | -$75,000 | $0 | $0 | $0 | $0 | -$15M | -$100M | -$247M |
| Net borrowing | — | — | — | — | $0 | $0 | -$4M | -$4M | -$4M | -$4M |
| Free cash flow margin | -6.9% | -4.8% | -3.1% | -8.9% | 10.0% | 16.7% | 16.4% | 17.7% | 23.0% | 25.0% |
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Open TENB in InvestinglyQuestions
What was Tenable's revenue in 2025?
$999M in fiscal 2025, from its 10-K filing.
How much free cash flow does Tenable generate?
$250M in fiscal 2025 (operating cash flow minus capital spending).
From Tenable's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.