Tenable Holdings, Inc.
For the period ended Mar 31, 2026. Filed May 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
2. Revenue
- Revenue
Disaggregation of Revenue
The following table presents a summary of revenue:
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Subscription revenue | $243,153 | $220,443 |
| Perpetual license and maintenance revenue | 10,162 | 11,552 |
| Professional services and other revenue | 8,743 | 7,142 |
| Revenue | $262,058 | $239,137 |
Revenue by region, based on the address of the end user as specified in our subscription, license or service agreements, was as follows:
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| The Americas | $159,503 | $150,590 |
| Europe, Middle East and Africa | 71,938 | 61,248 |
| Asia Pacific | 30,617 | 27,299 |
| Revenue | $262,058 | $239,137 |
Customers located in the United States accounted for 52% of revenue in the three months ended March 31, 2026 and 53% of revenue in the three months ended March 31, 2025. No other country accounted for 10% or more of revenue in the periods presented.
Concentrations
We sell and market our products and services through our field sales force that works closely with our channel partners, which includes a network of distributors and resellers, in developing sales opportunities. We use a two-tiered channel model whereby we sell our products and services to our distributors, which in turn sell to resellers, which then sell to end users. Revenue derived through our channel network comprised 95% and 94% of revenue in the three months ended March 31, 2026 and 2025, respectively. One of our distributors accounted for 30% and 32% of revenue in the three months ended March 31, 2026 and 2025, respectively. That same distributor accounted for 31% and 27% of accounts receivable at March 31, 2026 and December 31, 2025, respectively.
Contract Balances
We generally bill our customers in advance and accounts receivable are recorded when we have the right to invoice the customer. Contract liabilities consist of deferred revenue and include customer billings and payments received in advance of performance under the contract. In the three months ended March 31, 2026 and 2025, we recognized revenue of $247.0 million and $224.1 million, respectively, that was included in the deferred revenue balance at the beginning of each respective period.
Remaining Performance Obligations
The following summarizes the future estimated revenue related to unsatisfied performance obligations:
| March 31, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Remaining performance obligations, short-term | $712,864 | $647,647 |
| Remaining performance obligations, long-term | 300,340 | 234,598 |
| Remaining performance obligations | $1,013,204 | $882,245 |
Deferred Commissions
The following summarizes the activity of deferred incremental costs of obtaining a contract:
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Beginning balance | $124,629 | $119,705 |
| Capitalization of contract acquisition costs | 8,503 | 11,194 |
| Amortization of deferred contract acquisition costs | (14,619) | (14,070) |
| Ending balance | $118,513 | $116,829 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.