Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 32

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 300,037 Research and development(1)56,265 48,020 168,724 136,896 General and administrative(1)32,337 31,569 114,302 92,889 Restructuring— — — 6,070 Total operating expenses188,551 178,672 593,248 535,892 Income (loss) from operations7,136 (2,083)(18,023)(19,831)Interest income3,590 5,989 12,597 17,587 Interest expense(7,213)(8,148)(21,363)(24,333)Other (expense) income, net(703)359 (204)(858)Income (loss) before income taxes2,810 (3,883)(26,993)(27,435)Provision for income taxes550 5,328 8,388 10,734 Net income (loss)$2,260 $(9,211)$(35,381)$(38,169)

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(1)    Includes stock-based compensation expense as follows:

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Cost of revenue$3,495$3,216$10,270$9,486Sales and marketing17,05115,94151,49947,517Research and development14,17412,43542,44135,395General and administrative(2)10,16210,09243,10130,403Total stock-based compensation expense$44,882$41,684$147,311$122,801

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(2)    Stock-based compensation in the nine months ended September 30, 2025 includes $14.6 million of expense related to the accelerated equity award vesting of our late CEO.

29

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

Revenue

The following table presents the increase in revenue:

Three Months Ended September 30,Change(dollars in thousands)20252024($)(%)Subscription revenue$232,211 $208,554 $23,657 11 %Perpetual license and maintenance revenue11,088 11,769 (681)(6)%Professional services and other revenue9,141 6,765 2,376 35 %Revenue$252,440