Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 87

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 87
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 Taxes

Three Months Ended September 30,Change(dollars in thousands)20252024($)(%)Provision for income taxes$550 $5,328 $(4,778)(90)%

In the three months ended September 30, 2025, the provision for income taxes included:

•$2.2 million of discrete items primarily related to withholding taxes on sales to customers; partially offset by

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•$1.6 million of net tax benefits in foreign jurisdictions in which we conduct business. Income tax expense in the three months ended September 30, 2025 related to foreign jurisdictions, was reduced by a $3.2 million interim intraperiod allocation, which we expect to reverse in the three months ended December 31, 2025.

In the three months ended September 30, 2024, the provision for income taxes included:

•$3.5 million of income taxes in foreign jurisdictions in which we conduct business;

•$1.0 million of discrete items primarily related to withholding taxes on sales to customers; and

•$0.8 million related to Base Erosion and Anti-Abuse Tax.

Comparison of the Nine Months Ended September 30, 2025 and 2024

Revenue

The following table presents the increase in revenue:

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)Subscription revenue$680,685 $608,727 $71,958 12 %Perpetual license and maintenance revenue34,051 35,941 (1,890)(5)%Professional services and other revenue24,136 19,622 4,514 23 %Revenue$738,872 $664,290 $74,582 11 %

The increase in revenue of $74.6 million included $73.1 million from existing customers as of October 1, 2024, and $1.5 million from new customers. U.S. revenue increased $33.0 million, or 9%. International revenue increased $41.4 million, or 14%.

Cost of Revenue, Gross Profit and Gross Margin

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)Cost of revenue$163,647 $148,229 $15,418 10 %Gross profit575,225 516,061 59,164 11 %Gross margin