Cybersecurity Spending Cuts Emerge as Slowdown Looms: Tech … – Bloomberg Law

Cybersecurity has long been viewed as one corner of tech that companies won’t skimp on even if the economic backdrop darkens further, but disappointing corporate results have called that notion into question.

Concerns emerged after security-software company Tenable Holdings Inc. cut its revenue forecast late last month, followed by similar news at Cloudflare Inc., sparking double-digit declines in the stocks. Both cited questions around the economy, which Cloudflare, a cybersecurity-focused provider of cloud services, said “resulted in a material lengthening of sales cycles.” It expects that headwind will persist all year.

There’s broad agreement that the sector’s long-term prospects …