Company: TENB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001660280-25-000090
Chunk: 61

Company: Tenable Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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Provision for income taxes$7,838 $5,406 $2,432 45 %

In the six months ended June 30, 2025, the provision for income taxes included:

•$5.1 million of income taxes in foreign jurisdictions in which we conduct business; and 

•$2.7 million of discrete items primarily related to withholding taxes on sales to customers.

In the six months ended June 30, 2024, the provision for income taxes included:

•$2.1 million of income taxes in foreign jurisdictions in which we conduct business;

•$1.7 million related to Base Erosion and Anti-Abuse Tax; and

•$1.6 million of discrete items primarily related to withholding taxes on sales to customers.

Liquidity and Capital Resources

At June 30, 2025, we had $175.0 million of cash and cash equivalents, which consisted of cash deposits and money market funds, and $211.5 million of short-term investments, which consisted of commercial paper, asset backed securities, U.S. Treasury and agency obligations and corporate and Yankee bonds. 

Since our inception, we have primarily financed our operations through cash provided by operations, including payments received from customers using our software products and services. Prior to our IPO, we did not raise any 

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primary institutional capital, and the proceeds of our Series A and Series B redeemable convertible preferred stock financings were used to repurchase shares of capital stock from former stockholders. We have generated significant operating losses as reflected by our accumulated deficit of $899.0 million at June 30, 2025. 

We typically invoice our customers annually in advance and, to a lesser extent, multi-years in advance. Therefore, a substantial source of our cash is from such prepayments, which are included in deferred revenue on our consolidated balance sheets. Deferred revenue consists primarily of the unearned portion of billed fees for our subscriptions and perpetual licenses, which is subsequently recognized as revenue in accordance with our revenue recognition policy. At June 30, 2025, we had deferred revenue of $797.8 million, of which $624.5 million was recorded as a current liability and is expected to be recognized as revenue in the next 12 months, provided all other revenue recognition criteria are met.

Our principal uses of cash in recent periods have been funding our operations, expansion of our sales and marketing and research and development activities, investments in infrastructure, acquiring complementary businesses and technology