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Cybersecurity company Tenable files for IPO

Cybersecurity company Tenable Holdings Inc. filed for an initial public offering of up to $100 million of its common stock.

The Maryland-based company, which has not yet specified the number of shares or price range for the IPO, plans to list its stock on the Nasdaq Global Market under the symbol TENB.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Allen & Co. LLC and Deutsche Bank Securities Inc. will act as active book-running managers for the proposed offering. Stifel Nicolaus & Co. Inc. will act as passive book-running manager, while William Blair & Co. LLC and BTIG LLC will act as co-managers for the proposed offering.

Tenable reported total revenue of $187.7 million in 2017, up 51% from $124.4 million in 2016. The company said in the filing that its channel partners accounted for more than 80% of its revenue in 2017 and the first quarter of this year.

As of Dec. 31, 2017, Tenable had more than 24,000 customers who licensed the company's Tenable.io, SecurityCenter or Nessus Professional products, according to the filing.

The company reported a net loss attributable to common stockholders of $41.8 million for 2017, or $1.88 per share, compared to a loss of $38.0 million, or $1.81 per share, in 2016.