Tenable Completes Acquisition of Vulcan Cyber
Tenable Holdings (NASDAQ: TENB) has completed its acquisition of Vulcan Cyber, enhancing its Exposure Management platform capabilities. The integration aims to provide comprehensive visibility, prioritization, and remediation across the entire attack surface.
The company has provided its financial outlook for Q1 2025, projecting revenue between $233.0-235.0 million, non-GAAP operating income of $40.0-42.0 million, and non-GAAP net income of $32.0-34.0 million. For full-year 2025, Tenable expects calculated current billings of $1.045-1.060 billion, revenue of $975.0-985.0 million, and non-GAAP operating income of $205.0-215.0 million. The company forecasts unlevered free cash flow between $265.0-275.0 million.
Tenable Holdings (NASDAQ: TENB) ha completato l'acquisizione di Vulcan Cyber, migliorando le capacità della sua piattaforma di Gestione dell'Esposizione. L'integrazione mira a fornire una visibilità completa, una priorità e una rimedio su tutta la superficie di attacco.
L'azienda ha fornito le sue previsioni finanziarie per il primo trimestre del 2025, stimando ricavi compresi tra $233,0-235,0 milioni, un reddito operativo non-GAAP di $40,0-42,0 milioni e un reddito netto non-GAAP di $32,0-34,0 milioni. Per l'intero anno 2025, Tenable prevede un fatturato calcolato attuale tra $1,045-1,060 miliardi, ricavi tra $975,0-985,0 milioni e un reddito operativo non-GAAP tra $205,0-215,0 milioni. L'azienda prevede un flusso di cassa libero non indebitato compreso tra $265,0-275,0 milioni.
Tenable Holdings (NASDAQ: TENB) ha completado la adquisición de Vulcan Cyber, mejorando las capacidades de su plataforma de Gestión de Exposición. La integración tiene como objetivo proporcionar visibilidad completa, priorización y remediación en toda la superficie de ataque.
La compañía ha proporcionado sus proyecciones financieras para el primer trimestre de 2025, anticipando ingresos entre $233.0-235.0 millones, un ingreso operativo no-GAAP de $40.0-42.0 millones y un ingreso neto no-GAAP de $32.0-34.0 millones. Para el año completo 2025, Tenable espera que las facturaciones actuales sean de $1.045-1.060 mil millones, ingresos de $975.0-985.0 millones y un ingreso operativo no-GAAP de $205.0-215.0 millones. La compañía pronostica un flujo de caja libre sin apalancamiento entre $265.0-275.0 millones.
테너블 홀딩스 (NASDAQ: TENB)는 벌컨 사이버를 인수하여 노출 관리 플랫폼의 기능을 강화했습니다. 통합은 전체 공격 표면에 대한 포괄적인 가시성, 우선 순위 및 복구를 제공하는 것을 목표로 합니다.
회사는 2025년 1분기에 대한 재정 전망을 제공하며, 수익이 $233.0-235.0 백만 달러, 비GAAP 운영 수익이 $40.0-42.0 백만 달러, 비GAAP 순이익이 $32.0-34.0 백만 달러일 것으로 예상하고 있습니다. 2025년 전체 연도에 대해 Tenable는 현재 청구액이 $1.045-1.060 억 달러, 수익이 $975.0-985.0 백만 달러, 비GAAP 운영 수익이 $205.0-215.0 백만 달러일 것으로 예상합니다. 회사는 $265.0-275.0 백만 달러 사이의 비부채 자유 현금 흐름을 예측합니다.
Tenable Holdings (NASDAQ: TENB) a finalisé l'acquisition de Vulcan Cyber, améliorant ainsi les capacités de sa plateforme de Gestion des Expositions. L'intégration vise à offrir une visibilité complète, une priorisation et une remédiation sur l'ensemble de la surface d'attaque.
L'entreprise a fourni ses perspectives financières pour le premier trimestre 2025, prévoyant des revenus compris entre 233,0 et 235,0 millions de dollars, un bénéfice d'exploitation non-GAAP de 40,0 à 42,0 millions de dollars et un bénéfice net non-GAAP de 32,0 à 34,0 millions de dollars. Pour l'année complète 2025, Tenable prévoit des factures calculées de 1,045 à 1,060 milliards de dollars, des revenus de 975,0 à 985,0 millions de dollars et un bénéfice d'exploitation non-GAAP de 205,0 à 215,0 millions de dollars. L'entreprise prévoit un flux de trésorerie disponible non endetté compris entre 265,0 et 275,0 millions de dollars.
Tenable Holdings (NASDAQ: TENB) hat die Übernahme von Vulcan Cyber abgeschlossen, was die Fähigkeiten seiner Exposure Management-Plattform verbessert. Die Integration zielt darauf ab, umfassende Sichtbarkeit, Priorisierung und Behebung über die gesamte Angriffsoberfläche hinweg zu bieten.
Das Unternehmen hat seine finanziellen Aussichten für das erste Quartal 2025 bekannt gegeben und prognostiziert Einnahmen zwischen $233,0-235,0 Millionen, ein non-GAAP-Betriebsergebnis von $40,0-42,0 Millionen und ein non-GAAP-Nettoeinkommen von $32,0-34,0 Millionen. Für das gesamte Jahr 2025 erwartet Tenable berechnete aktuelle Rechnungen von $1,045-1,060 Milliarden, Einnahmen von $975,0-985,0 Millionen und ein non-GAAP-Betriebsergebnis von $205,0-215,0 Millionen. Das Unternehmen prognostiziert einen unverschuldeten freien Cashflow zwischen $265,0-275,0 Millionen.
- Projected revenue growth with 2025 guidance of $975.0-985.0 million
- Strong billings outlook of $1.045-1.060 billion for 2025
- Healthy projected unlevered free cash flow of $265.0-275.0 million for 2025
- Expected non-GAAP operating income of $205.0-215.0 million for 2025
- Increased interest expense projection of $28.3 million for 2025
- Additional tax provision burden of $13.4 million expected for 2025
Insights
The Vulcan Cyber acquisition marks a significant strategic expansion for Tenable's exposure management platform. The company's financial guidance reveals several compelling metrics that warrant attention:
- Projected
$975-985M revenue for 2025 indicates strong top-line momentum - Expected non-GAAP operating margins of approximately
21% ($205-215M ) demonstrate healthy operational efficiency - Robust unlevered free cash flow projection of
$265-275M suggests strong cash generation capabilities - Q1 2025 guidance of
$233-235M in revenue with$40-42M in non-GAAP operating income shows immediate accretive impact
The integration strategy appears well-planned, with immediate focus on combining Vulcan Cyber's remediation capabilities into Tenable One. This should enhance the company's competitive position in the exposure management market, potentially leading to expanded market share and improved customer retention rates. The projected
The financial outlook indicates management's confidence in achieving synergies from the acquisition while maintaining profitable growth. The projected non-GAAP EPS range of
This acquisition represents a strategic technical enhancement that significantly bolsters Tenable's exposure management capabilities. The integration of Vulcan Cyber's technology brings three critical advantages:
- Enhanced data aggregation and analysis capabilities across the entire attack surface
- Advanced risk prioritization algorithms that improve accuracy in threat assessment
- Automated remediation workflows that streamline security operations
The combined platform's ability to consolidate and analyze vast amounts of security data while automating remediation workflows addresses a critical gap in the market. This integration positions Tenable One as one of the most comprehensive exposure management platforms, offering superior risk prioritization and automated remediation capabilities that many competitors currently lack.
The technical synergies between the platforms should enable more accurate risk scoring and prioritization, leading to more efficient resource allocation for security teams. The enhanced data flows and automated remediation capabilities could significantly reduce mean time to remediation (MTTR) for customers, providing a compelling competitive advantage in the rapidly evolving cybersecurity landscape.
Expanded Tenable One Exposure Management Platform capabilities will unify security visibility, insight and action across the attack surface
COLUMBIA, Md., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Tenable® Holdings, Inc., (“Tenable”) (Nasdaq: TENB) the exposure management company, today announced it has closed its acquisition of Vulcan Cyber Ltd., (“Vulcan Cyber”), a leading innovator in exposure management.
Vulcan Cyber’s capabilities will enhance Tenable’s industry-leading Exposure Management platform, delivering comprehensive visibility, prioritization and remediation across the entire attack surface.
“As we welcome our new team members to Tenable, we will immediately begin working on the integration process to drive expanded data insights that will better prioritize risks and simplify remediation efforts for our customers,” said Steve Vintz, Co-CEO and CFO, Tenable. “This move accelerates our exposure management vision, which we believe will set a new standard for accuracy in risk mitigation in the industry.”
With enhanced visibility, extended third-party data flows, superior risk prioritization, and automated remediation, Tenable One will consolidate and aggregate vast amounts of data into one of the most comprehensive Exposure Management platforms available on the market. This will empower organizations to confidently reduce risk across their entire environment.
Financial Outlook
Our financial outlook below reflects the impact of Vulcan Cyber.
For the first quarter of 2025, we currently expect:
- Revenue in the range of
$233.0 million to$235.0 million . - Non-GAAP income from operations in the range of
$40.0 million to$42.0 million . - Non-GAAP net income in the range of
$32.0 million to$34.0 million , assuming interest income of$3.8 million , interest expense of$7.0 million and a provision for income taxes of$3.6 million . - Non-GAAP diluted earnings per share in the range of
$0.26 t o$0.27 . - 124.0 million diluted weighted average shares outstanding.
For the year ending December 31, 2025, we currently expect:
- Calculated current billings in the range of
$1.04 5 billion to$1.06 0 billion. - Revenue in the range of
$975.0 million to$985.0 million . - Non-GAAP income from operations in the range of
$205.0 million to$215.0 million . - Non-GAAP net income in the range of
$175.0 million to$185.0 million , assuming interest income of$15.3 million , interest expense of$28.3 million and a provision for income taxes of$13.4 million . - Non-GAAP diluted earnings per share in the range of
$1.41 t o$1.49 . - 124.5 million diluted weighted average shares outstanding.
- Unlevered free cash flow in the range of
$265.0 million to$275.0 million .
Additional Resources
- Read today’s blog post on the acquisition here.
- Request a demo of Tenable One.
About Tenable
Tenable® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for approximately 44,000 customers around the globe. Learn more at tenable.com.
Forward-Looking Statements
This press release contains forward-looking information related to Tenable, and its acquisition of Vulcan Cyber Ltd. that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. You can generally identify forward-looking statements by the use of forward-looking terminology such as the words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. The forward-looking statements in this press release are based on Tenable’s current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties, many of which are beyond Tenable’s control. Forward-looking statements in this communication include, among other things, statements regarding the impact of the Vulcan Cyber acquisition on our future results of operations and financial position, statements about the potential benefits of the acquisition and product developments and other possible or assumed business strategies, potential growth opportunities, new products, potential market opportunities, and the anticipated timing of the closing of the acquisition. Risks and uncertainties include, among other things, our ability to successfully integrate Vulcan Cyber’s operations; our ability to implement our plans, expectations with respect to Vulcan Cyber’s business; our ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period; disruption from the acquisition making it more difficult to maintain business and operational relationships; the inability to retain key employees; the negative effects of the consummation of the acquisition on the market price of our common stock or on our operating results; unknown liabilities; attracting new customers and maintaining and expanding our existing customer base; our ability to scale and update our platform to respond to customers’ needs and rapid technological change, increased competition on our market and our ability to compete effectively, and expansion of our operations and increased adoption of our platform internationally.
Additional risks and uncertainties that could affect our financial results are included in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2023, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and other filings that we make from time to time with the Securities and Exchange Commission (“SEC”) which are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements contained in this communication are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Contact Information
Investor Relations
investors@tenable.com
Media Relations
Tenable
tenablepr@tenable.com
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
The following adjustments to reconcile forecasted non-GAAP income from operations, non-GAAP net income, non-GAAP earnings per share, free cash flow and unlevered free cash flow are subject to a number of uncertainties and assumptions, each of which are inherently difficult to forecast. As a result, actual adjustments and GAAP results may differ materially.
| Forecasted Non-GAAP Income from Operations | Three Months Ending March 31, 2025 | Year Ending December 31, 2025 | |||||||||||||
| (in millions) | Low | High | Low | High | |||||||||||
| Forecasted loss from operations | $ | (27.0 | ) | $ | (25.0 | ) | $ | (21.0 | ) | $ | (11.0 | ) | |||
| Forecasted stock-based compensation | 55.0 | 55.0 | 195.0 | 195.0 | |||||||||||
| Forecasted acquisition-related expenses | 6.0 | 6.0 | 6.0 | 6.0 | |||||||||||
| Forecasted amortization of acquired intangible assets | 6.0 | 6.0 | 25.0 | 25.0 | |||||||||||
| Forecasted non-GAAP income from operations | $ | 40.0 | $ | 42.0 | $ | 205.0 | $ | 215.0 | |||||||
| Forecasted Non-GAAP Net Income and Non-GAAP Earnings Per Share | Three Months Ending March 31, 2025 | Year Ending December 31, 2025 | |||||||||||||
| (in millions, except per share data) | Low | High | Low | High | |||||||||||
| Forecasted net loss(1) | $ | (36.0 | ) | $ | (34.0 | ) | $ | (56.0 | ) | $ | (46.0 | ) | |||
| Forecasted stock-based compensation | 55.0 | 55.0 | 195.0 | 195.0 | |||||||||||
| Forecasted tax impact of stock-based compensation | 1.0 | 1.0 | 5.0 | 5.0 | |||||||||||
| Forecasted acquisition-related expenses | 6.0 | 6.0 | 6.0 | 6.0 | |||||||||||
| Forecasted amortization of acquired intangible assets | 6.0 | 6.0 | 25.0 | 25.0 | |||||||||||
| Forecasted non-GAAP net income | $ | 32.0 | $ | 34.0 | $ | 175.0 | $ | 185.0 | |||||||
| Forecasted net loss per share, diluted(1) | $ | (0.30 | ) | $ | (0.28 | ) | $ | (0.46 | ) | $ | (0.38 | ) | |||
| Forecasted stock-based compensation | 0.46 | 0.46 | 1.61 | 1.61 | |||||||||||
| Forecasted tax impact of stock-based compensation | 0.01 | 0.01 | 0.04 | 0.04 | |||||||||||
| Forecasted acquisition-related expenses | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||
| Forecasted amortization of acquired intangible assets | 0.05 | 0.05 | 0.21 | 0.21 | |||||||||||
| Adjustment to diluted earnings per share(2) | (0.01 | ) | (0.02 | ) | (0.04 | ) | (0.04 | ) | |||||||
| Forecasted non-GAAP earnings per share, diluted | $ | 0.26 | $ | 0.27 | $ | 1.41 | $ | 1.49 | |||||||
| Forecasted weighted-average shares used to compute GAAP net loss per share, diluted | 120.5 | 120.5 | 121.0 | 121.0 | |||||||||||
| Forecasted weighted-average shares used to compute non-GAAP earnings per share, diluted | 124.0 | 124.0 | 124.5 | 124.5 | |||||||||||
________________
(1) The forecasted GAAP net loss assumes income tax expense of
(2) Adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares.
| Forecasted Free Cash Flow and Unlevered Free Cash Flow | Year Ending December 31, 2025 | ||||||
| (in millions) | Low | High | |||||
| Forecasted net cash provided by operating activities | $ | 258.0 | $ | 268.0 | |||
| Forecasted purchases of property and equipment | (17.0 | ) | (17.0 | ) | |||
| Forecasted capitalized software development costs | (3.0 | ) | (3.0 | ) | |||
| Forecasted free cash flow | 238.0 | 248.0 | |||||
| Forecasted cash paid for interest and other financing costs | 27.0 | 27.0 | |||||
| Forecasted unlevered free cash flow | $ | 265.0 | $ | 275.0 | |||
FAQ
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