Company: TENB
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001660280-25-000034
Chunk: 138

Company: Tenable Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 138
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232022Operating lease cost$8,102 $7,592 $7,550 In June 2024, we executed a sublease of a portion of our corporate headquarters through February 2032 and recognized $4.5 million of restructuring expense related to the associated impairment of leasehold improvements and furniture and fixtures. Sublease income, which is recorded as a reduction of rent expense, was $0.8 million in 2024.Rent expense for short-term leases was not material in 2024, 2023 and 2022.Supplemental information related to leases was as follows:December 31,20242023Operating leasesWeighted average remaining lease term6.5 years7.3 yearsWeighted average discount rate6.1%5.6%Year Ended December 31,(in thousands)202420232022ROU assets obtained in exchange for lease obligationsOperating leases$10,143 $1,234 $4,256 

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Maturities of operating lease liabilities at December 31, 2024 were as follows:(in thousands)Year ending December 31,2025$9,585 202612,182 202711,767 202811,124 202910,800 Thereafter22,079 Total lease payments77,537 Less: Imputed interest(14,512)Total$63,025 Operating lease payments in the table above do not include $0.9 million, $1.7 million, $1.8 million, $1.9 million, $1.9 million and $4.5 million of sublease payments we expect to receive in 2025, 2026, 2027, 2028, 2029 and thereafter, respectively.

8. Debt 

Credit AgreementIn July 2021, we entered into a credit agreement ("Credit Agreement") which is comprised of:•a $375.0 million senior secured term loan facility ("Term Loan"); and •a $50.0 million senior secured revolving credit facility ("Revolving Credit Facility").The table below summarizes the carrying value of the Term Loan:(in thousands)December 31, 2024Term loan$363,750 Less: Unamortized debt discount and issuance costs(4,465)Term loan, net of issuance costs359,285 Less: Term loan, net, current (1)(2,580)Term loan, net of issuance