Company: TENB
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001660280-25-000034
Chunk: 94

Company: Tenable Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 94
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856)$(52,160)$(67,815)Stock-based compensation163,515 145,327 120,633 Acquisition-related expenses1,932 9,472 2,642 Restructuring6,070 4,499 — Costs related to intra-entity asset transfer(1)— — 838 Amortization of acquired intangible assets19,457 13,859 11,372 Non-GAAP income from operations$184,118 $120,997 $67,670 Operating margin(1)%(7)%(10)%Non-GAAP operating margin20 %15 %10 %

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(1)    The costs related to the intra-entity asset transfer resulted from our internal restructuring of Cymptom.

Non-GAAP Net Income and Non-GAAP Earnings Per Share

We use non-GAAP net income, which excludes stock-based compensation, acquisition-related expenses, restructuring expenses and amortization of acquired intangible assets, as well as the related tax impacts, and the tax impact and related costs of intra-entity asset transfers resulting from the internal restructuring of legal entities as well as deferred income tax benefits recognized in connection with acquisitions, to calculate non-GAAP earnings per share. We believe that these non-GAAP measures provide important information because they facilitate comparisons of our core operating results over multiple periods. 

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The following table presents a reconciliation of net loss and net loss per share, the most comparable financial measures calculated in accordance with GAAP, to non-GAAP net income and non-GAAP earnings per share:

Year Ended December 31,(in thousands, except for per share amounts)202420232022Net loss$(36,301)$(78,284)$(92,222)Stock-based compensation163,515 145,327 120,633 Tax impact of stock-based compensation(1)2,845 2,017 2,103 Acquisition-related expenses(2)1,932 9,472 2,642 Restructuring(2)6,070 4,499 — Costs related to intra-entity asset transfer(3)— — 838 Amortization of acquired intangible assets(4)19,457 13,859 11,372 Tax impact of acquisitions(5)(161)265 (3,703)Tax impact of intra-entity asset transfers(6)1,232 — 2,652 Non-GAAP net income