Latest news with #MarkThurmond
Techday NZ
2 days ago
- Business
- Techday NZ
Tenable to acquire Apex Security, bolstering AI risk control
Tenable has announced its intent to acquire Apex Security to expand its exposure management capabilities within the artificial intelligence (AI) attack surface. The planned acquisition is aimed at incorporating Apex Security's technology into Tenable's exposure management platform, as AI adoption accelerates and new cyber risks emerge. Tenable has previously addressed AI-related security concerns through its Tenable AI Aware product, introduced in 2024, which assists organisations in identifying and assessing AI usage across their operations. The integration of Apex Security's capabilities would allow Tenable to move beyond detection and assessment, enabling organisations to govern AI usage, enforce policies, and control exposure risks for both off-the-shelf and in-house-developed AI systems. Generative AI and autonomous systems are contributing to a broader and more complex attack surface, exposing organisations to risks such as shadow AI applications, AI-generated code, synthetic identities, and unregulated cloud services. The expansion of Tenable's exposure management offering comes at a time when cyber risk management is adapting to the pace and scale of AI-driven digital transformation. Steve Vintz, Co-Chief Executive Officer and Chief Financial Officer at Tenable, said: "AI dramatically expands the attack surface, introducing dynamic, fast-moving risks most organisations aren't prepared for. Tenable's strategy has always been to stay ahead of attack surface expansion — not just managing exposures, but eliminating them before they can be exploited." Mark Thurmond, Co-Chief Executive Officer at Tenable, spoke about the proactive need for addressing AI risks. He said: "As organisations move quickly to adopt AI, many recognise that now is the moment to get ahead of the risk — before large-scale attacks materialise. Apex delivers the visibility, context, and control security teams need to reduce AI-generated exposure proactively. It will be a powerful addition to the Tenable One platform and a perfect fit for our preemptive approach to cybersecurity." Apex Security, founded in 2023, has attracted support from Chief Information Security Officers (CISOs) as well as prominent investors such as Sam Altman of OpenAI, Clem Delangue of Hugging Face, and venture capital firms Sequoia Capital and Index Ventures. The company's focus has been on securing AI usage among developers and general staff, helping address policy enforcement, usage management, and compliance challenges linked to AI adoption. Matan Derman, Chief Executive Officer and Co-Founder of Apex Security, commented on the strategic fit with Tenable. He said: "The AI attack surface is deeply intertwined with everything else organisations are already securing. Treating it as part of exposure management is the most strategic approach. We're excited to join forces with Tenable to help customers manage AI risk in context — not as a silo, but as part of their broader environment." Following the completion of the acquisition, Tenable expects to begin delivering integrated capabilities as part of the Tenable One platform during the second half of 2025. Tenable describes Tenable One as an exposure management platform which brings together visibility, context, and management for a range of attack surfaces from IT infrastructure to cloud environments. The financial terms of the deal have not been disclosed. The transaction is expected to close later this quarter, pending customary approvals and closing conditions.
Channel Post MEA
3 days ago
- Business
- Channel Post MEA
Tenable Announces Intent to Acquire Apex Security
Tenable has announced its intent to acquire Apex Security , an innovator in securing the rapidly expanding AI attack surface. Tenable believes the acquisition, once completed, will strengthen Tenable's ability to help organizations identify and reduce cyber risk in a world increasingly shaped by artificial intelligence. Generative AI tools and autonomous systems are rapidly expanding the attack surface and introducing new risks — from shadow AI apps and AI-generated code to synthetic identities and ungoverned cloud services. In 2024, Tenable launched Tenable AI Aware which already helps thousands of organizations detect and assess AI usage across their environments. Adding Apex capabilities will expand on that foundation — adding the ability to govern usage, enforce policy, and control exposure across both the AI that organizations use and the AI they build. This move reinforces Tenable's long-standing strategy of delivering scalable, unified exposure management as AI adoption accelerates. 'AI dramatically expands the attack surface, introducing dynamic, fast-moving risks most organizations aren't prepared for,' said Steve Vintz, Co-CEO and CFO, Tenable. 'Tenable's strategy has always been to stay ahead of attack surface expansion — not just managing exposures, but eliminating them before they can be exploited.' 'As organizations move quickly to adopt AI, many recognize that now is the moment to get ahead of the risk — before large-scale attacks materialize,' said Mark Thurmond, Co-CEO, Tenable. 'Apex delivers the visibility, context, and control security teams need to reduce AI-generated exposure proactively. It will be a powerful addition to the Tenable One platform and a perfect fit for our preemptive approach to cybersecurity.' Founded in 2023, Apex attracted early interest from CISOs and top investors, including Sam Altman (OpenAI), Clem Delangue (Hugging Face), and venture capital firms Sequoia Capital and Index Ventures. The company quickly emerged as an innovator in securing the use of AI by developers and everyday employees alike — addressing the growing need to manage usage, enforce policy, and ensure compliance at scale. 'The AI attack surface is deeply intertwined with everything else organizations are already securing. Treating it as part of exposure management is the most strategic approach. We're excited to join forces with Tenable to help customers manage AI risk in context — not as a silo, but as part of their broader environment,' said Matan Derman, CEO and Co-Founder of Apex Security. Following the acquisition close, Tenable expects to deliver integrated capabilities in the second half of 2025 as part of Tenable One — the industry's first and most comprehensive exposure management platform. The financial terms of the deal were not disclosed. The deal is expected to close later this quarter. 0 0
Yahoo
13-05-2025
- Business
- Yahoo
TENB Q1 Earnings Call: Exposure Management Drives Large Deals Amid Cautious Outlook
Cybersecurity software maker Tenable (NASDAQ:TENB) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 10.7% year on year to $239.1 million. The company expects next quarter's revenue to be around $242 million, close to analysts' estimates. Its non-GAAP profit of $0.36 per share was 27.5% above analysts' consensus estimates. Is now the time to buy TENB? Find out in our full research report (it's free). Revenue: $239.1 million vs analyst estimates of $233.6 million (10.7% year-on-year growth, 2.4% beat) Adjusted EPS: $0.36 vs analyst estimates of $0.28 (27.5% beat) Adjusted Operating Income: $48.68 million vs analyst estimates of $41.86 million (20.4% margin, 16.3% beat) The company reconfirmed its revenue guidance for the full year of $975 million at the midpoint Operating Margin: -7.4%, down from -4.1% in the same quarter last year Free Cash Flow Margin: 33.5%, similar to the previous quarter Net Revenue Retention Rate: 108%, in line with the previous quarter Annual Recurring Revenue: $1.07 billion at quarter end, up 20.1% year on year Billings: $214.3 million at quarter end, up 13.9% year on year Market Capitalization: $4.09 billion Tenable's first quarter results were shaped by notable momentum in its exposure management platform, Tenable One, which management said was central to landing the highest number of seven-figure deals in company history. Co-CEOs Steve Vintz and Mark Thurmond credited the platform's ability to unify risk insights across cloud, on-premise, and operational technology environments for expanding deal sizes and driving customer upgrades, particularly in regulated sectors such as finance and the public sector. Looking ahead, Tenable's leadership reaffirmed its annual revenue guidance but indicated a more cautious approach due to economic and geopolitical uncertainties, especially in the U.S. public sector. Vintz explained, 'There's just more uncertainty now since our February call than there was early in the year,' citing longer procurement cycles and leadership changes in government agencies as reasons for a more conservative outlook. The company's strategy for the year centers on continued investment in platform innovation and expanding integrations, balanced with operating discipline. Tenable's management pointed to exposure management momentum, a shifting competitive landscape, and evolving customer priorities as the key factors influencing quarterly results and outlook. Exposure Management Platform Adoption: Tenable One continued to drive large deal wins, with management attributing heightened customer interest to its ability to integrate vulnerability, cloud, and operational technology risk into a unified solution, leading to broader platform adoption and higher average selling prices. Cloud Security and AI Initiatives: The company observed outsized growth in its cloud security offerings, and highlighted the operationalization of AI-aware discovery capabilities. Management cited increased detection of AI-related applications and vulnerabilities, positioning Tenable to address emerging risks tied to artificial intelligence adoption. Vulcan Cyber Acquisition Integration: The integration of Vulcan Cyber is broadening Tenable One's analytics by incorporating third-party security data, which management believes will further differentiate the platform and enable more actionable remediation workflows for customers. Competitive Landscape Shifts: Management noted that the acquisition of Wiz by Google has created new opportunities for Tenable, as customers with multi-cloud environments seek alternatives to vendor lock-in. Tenable reported higher win rates against both legacy vulnerability management and endpoint security competitors. Public Sector Headwinds: Leadership acknowledged increased uncertainty in the U.S. federal market due to government leadership changes and extended procurement cycles. Despite closing notable public sector deals, Tenable anticipates more cautious spending and delayed purchasing decisions from these customers. Management's outlook for the coming quarters is shaped primarily by continued demand for exposure management, balanced against macroeconomic and public sector headwinds. Platform Expansion and Innovation: Tenable plans to invest in expanding Tenable One's capabilities, including deeper integrations of third-party data and automated remediation, aiming to strengthen its competitive position and drive higher-value deals. Cloud and AI Security Demand: The company expects rising adoption of cloud and AI technologies to create ongoing demand for its solutions, as organizations look to secure increasingly complex and interconnected environments. Macroeconomic and Government Uncertainties: Management highlighted risks from geopolitical events, U.S. policy changes, and federal agency leadership turnover, which may lengthen sales cycles and create variability in public sector revenue contributions. Brian Essex (JPMorgan): Asked how increased macro uncertainty, particularly in the public sector, was factored into guidance. Management replied that about two-thirds of the guidance reduction was due to U.S. public sector caution, with the rest from the enterprise segment. Saket Kalia (Barclays): Questioned competitive trends, especially with new players like Wiz. Management said win rates against traditional and endpoint security vendors remained high, and recent M&A has led to more RFP invitations. Andrew Nowinski (Wells Fargo): Inquired about the interplay between cloud security momentum and exposure management. Management stated that cloud security is integral to the exposure management platform, with customers increasingly seeking unified solutions. Matt Calitri (Needham): Wanted quantification of public versus private sector impacts on guidance. Management specified that two-thirds of the outlook revision was attributed to public sector uncertainty, mainly from longer deal cycles. Patrick Colville (Scotiabank): Asked about strategic priorities for the co-CEO structure. Management emphasized continued focus on expanding Tenable One, integrating third-party data, and leveraging AI to drive customer value. In future quarters, the StockStory team will be watching (1) the pace of Tenable One adoption and customer upgrades across enterprise and public sector accounts, (2) evidence of sales cycle lengthening or stabilization in the U.S. federal business as government leadership roles are filled, and (3) the rollout and market reception of new platform features enabled by the Vulcan Cyber integration. We will also track the impact of emerging AI security risks on customer demand and platform differentiation. Tenable currently trades at a forward price-to-sales ratio of 4.1×. In the wake of earnings, is it a buy or sell? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.
