Company: TENB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001660280-25-000090
Chunk: 8

Company: Tenable Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 8
---
Disaggregation of RevenueThe following table presents a summary of revenue:Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Subscription revenue$228,031 $202,538 $448,474 $400,173 Perpetual license and maintenance revenue11,411 12,016 22,963 24,172 Professional services and other revenue7,853 6,687 14,995 12,857 Revenue$247,295 $221,241 $486,432 $437,202 Concentrations We sell and market our products and services through our field sales force that works closely with our channel partners, which includes a network of distributors and resellers, in developing sales opportunities. We use a two-tiered channel model whereby we sell our products and services to our distributors, which in turn sell to resellers, which then sell to end users. Revenue derived through our channel network comprised 94% of revenue in the three and six months ended June 30, 2025 and 94% and 92% of revenue in the three and six months ended June 30, 2024, respectively. One of our distributors accounted for 32% of revenue in the three and six months ended June 30, 2025 and 34% of revenue in the three and six months ended June 30, 2024. That same distributor accounted for 31% and 29% of accounts receivable at June 30, 2025 and December 31, 2024, respectively.Contract BalancesWe generally bill our customers in advance and accounts receivable are recorded when we have the right to invoice the customer. Contract liabilities consist of deferred revenue and include customer billings and payments received in advance of performance under the contract. In the three months ended June 30, 2025 and 2024 and the six months ended June 30, 2025 and 2024, we recognized revenue of $231.1 million, $205.1 million, $412.0 million and $368.7 million, respectively, that was included in the deferred revenue balance at the beginning of each respective period.

9

Remaining Performance ObligationsThe following summarizes the future estimated revenue related to unsatisfied performance obligations:June 30,(in thousands)20252024Remaining performance obligations, short-term$641,918 $572,015 Remaining performance obligations, long