Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 36

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 marketing expense of $10.2 million was primarily due to:

•a $2.5 million increase in personnel costs, including a $4.0 million increase in stock-based compensation;

•a $2.4 million increase in expenses for demand generation programs, including advertising, sponsorships and brand awareness efforts;

•a $2.4 million increase in sales commissions;

•a $2.2 million increase in selling expenses; and

•a $1.3 million increase in acquisition-related expenses; partially offset by

•a $0.5 million decrease in depreciation expense.

Research and Development

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)Research and development$168,724 $136,896 $31,828 23 %

The increase in research and development expense of $31.8 million was primarily due to:

•a $27.8 million increase in personnel costs, largely due to an increase in headcount from recent acquisitions, and including a $7.0 million increase in stock-based compensation;

•a $2.3 million increase in allocated overhead; and

•a $1.8 million increase in acquisition-related expenses.

General and Administrative

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)General and administrative$114,302 $92,889 $21,413 23 %

The increase in general and administrative expense of $21.4 million was primarily due to:

•a $16.5 million increase in personnel costs, including $15.5 million in termination benefits including cash compensation and accelerated equity award vesting related to the passing of our Chairman and Chief Executive Officer;

•a $2.5 million increase in acquisition-related expenses;

•a $0.7 million increase in travel and meeting costs;

•a $0.5 million increase in indirect taxes such as VAT;

•a $0.3 million increase in bank fees; 

•a $0.3 million increase in telecom and internet costs; and

•a $0.2 million increase in professional fees.

33

Restructuring

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)Restructuring$— $6,070 $(6,070)(100)%

Restructuring in the prior year included a $4.5 million non-cash impairment of leasehold improvements and furniture and fixtures that was recorded in connection with