The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Joe Gallo - Jefferies LLC - Analyst
: Maybe just to start out, do you mind sharing a high-level overview of Tenable and maybe the evolution of the stories since you guys have gone
public?
Question: Joe Gallo - Jefferies LLC - Analyst
: That was a great overview. Really appreciate that. And I apologize; I did not introduce Senior Director of Investor Relations, Erin Karney. Sorry about
that, Erin. Maybe this is one for the group, but just the pace of breaches has accelerated significantly this year. It's honestly frightening. Maybe just
talk about the threat environment and how that's evolved, how you're helping customers, but then also the sustainability, I guess, of budget dollars.
Everyone was kind of just buying anything and felt like last year -- when they saw these breaches, but maybe just think about how that demand
environment has evolved into 2021 and how you expect it going forward.
Question: Joe Gallo - Jefferies LLC - Analyst
: That makes a lot of sense, and that jives with what we heard from others at this conference. And so it seems like it's not really breached reaction.
There's heightened awareness, but also like how much of this is being driven by digital transformation? It seems like, hey, I'm updating my
architecture. I might as well update my security stack as well. And if you think about refresh cycles of typical security appliances, and so it might
be a 3- to 7-year tailwind. Is that how you guys are thinking about it or --?
Question: Joe Gallo - Jefferies LLC - Analyst
: And you said something interesting in your opening remarks just about identity. And active directory is clearly one of the biggest threat services.
Are you pivoting more into identity or is this more complementary? How should we think about that? And maybe to bring in Steve, what does the
upsell look like, how should we think about attach and will this drive NRR?
Question: Joe Gallo - Jefferies LLC - Analyst
: That makes sense. And it sounds like you guys are really building out the framework of a platform, but I have a client question. As the security
software industry is maturing and suppliers or offerings will consolidate, how do you think about your long-term strategic positioning as a relatively
Question: Joe Gallo - Jefferies LLC - Analyst
: And that kind of leads to my next question. You've touched on it a little bit, but just how to think about the competitive landscape. Has anything
changed in the last year? Are you primarily focused on the other pure play, best-of-breed vendors? Or I guess I'll start there and then I have a
follow-up.
Question: Joe Gallo - Jefferies LLC - Analyst
: And even though you can't see me, it's like you can read my mind. So I appreciate that. Have these newer, more vocal entrants done anything with
pricing? We've heard that they are very, very willing to discount in some of their non-core competency markets.
Question: Joe Gallo - Jefferies LLC - Analyst
: Awesome, appreciate the color. Steve, you guys had a really great net add quarter the last quarter. How should investors think about that going
forward? Is this being driven by increase in sales heads, efficiency, or is it really just fixing to go to market channel?
Question: Joe Gallo - Jefferies LLC - Analyst
: That's great to hear. And maybe this is a question for all of you, but may be especially Erin. You can call this an airing of the grievances, if you want.
But is there anything you think is misunderstood by investors that you want to clear the air?
Question: Joe Gallo - Jefferies LLC - Analyst
: Awesome. Amit, Steve, Erin, really appreciate the time today.
| 
