Company: TENB
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001660280-25-000034
Chunk: 144

Company: Tenable Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 144
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 2024 and 2023 there were $6.9 million and $7.9 million, respectively, of employee contributions to the 2018 ESPP included in accrued compensation. The fair value of the 2018 ESPP purchase rights was estimated on the offering or modification dates using a Black-Scholes option-pricing model and the following assumptions:Year Ended December 31,202420232022Expected term (in years)0.5 — 2.00.5 — 2.00.5 — 2.0Expected volatility31.9% — 51.4%46.9% — 58.1%42.8% — 61.0%Risk-free interest rate3.8% — 5.1%4.8% — 5.4%0.1% — 3.4%Expected dividend yield———Under the evergreen provision in our 2018 ESPP, in January 2024 we reserved an additional 1.8 million shares of our common stock. At December 31, 2024, there were 10.0 million shares reserved for issuance under the 2018 ESPP.

11. Income Taxes

U.S. and foreign components of the loss before income taxes were as follows:Year Ended December 31,(in thousands)202420232022U.S. income (loss)$25,787 $(26,249)$(23,768)Foreign loss(44,673)(41,152)(61,521)Total loss before income taxes$(18,886)$(67,401)$(85,289)The components of the provision for income taxes were as follows: Year Ended December 31,(in thousands)202420232022CurrentFederal$3,278 $5 $3 State454 708 248 Foreign13,036 9,930 10,142 Total current tax expense16,768 10,643 10,393 DeferredFederal580 293 (2,011)State227 239 (330)Foreign(160)(292)(1,119)Total deferred tax expense (benefit)647 240 (3,460)Total provision for income taxes$17,415 $10,883 $6,933 

95

In connection with the 2022 acquisition of Bit Discovery, Inc., we elected to first offset our existing deferred tax assets with acquired deferred tax liabilities. This resulted in releasing $