Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 12

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 31, 2024.

12

5. Property and Equipment, Net

Property and equipment, net consisted of the following:(in thousands)September 30, 2025December 31, 2024Computer software and equipment$21,862$21,051Internally developed software42,18439,944Furniture and fixtures5,8015,140Leasehold improvements32,75624,524Total102,60390,659Less: accumulated depreciation and amortization(62,132)(51,394)Property and equipment, net$40,471$39,265Depreciation and amortization related to property and equipment was $4.3 million, $3.6 million, $12.6 million and $10.0 million in the three months ended September 30, 2025 and 2024 and the nine months ended September 30, 2025 and 2024, respectively.In the nine months ended September 30, 2024, we recorded a $4.5 million impairment for furniture and fixtures and leasehold improvements. See Note 7 for additional information.

6. Acquisitions, Goodwill and Intangible Assets

AcquisitionsIn June 2025, we acquired Apex Security, Inc. ("Apex"), an innovator in securing the rapidly expanding AI attack surface. This acquisition is expected to strengthen our ability to help organizations identify and reduce cyber risk, adding the ability to govern usage, enforce policy, and control exposure across both the AI that organizations use and the AI they build. We acquired 100% of Apex's equity through a share purchase agreement for total consideration of $47.8 million, including $47.7 million in cash, net of $2.0 million cash acquired, and $0.1 million fair value of replacement equity.In February 2025, we acquired Vulcan Cyber Ltd. ("Vulcan"), an innovator in cyber risk management. This acquisition is expected to add enhanced visibility, extended third-party data flows, risk prioritization and optimized remediation to strengthen our Tenable One Exposure Management platform. We acquired 100% of Vulcan's equity through a share purchase agreement for total cash consideration of $148.5 million, net of $2.3 million cash acquired.Cash consideration, net of cash acquired, was preliminarily allocated as follows:(in thousands)ApexVulcanAccounts receivable$62 $2,158 Intangible assets6,800 40