Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 33

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 $227,088 $25,352 11 %

The increase in revenue of $25.4 million included $24.5 million from existing customers as of October 1, 2024 and $0.9 million from new customers. U.S. revenue increased $10.5 million, or 9%. International revenue increased $14.9 million, or 14%.

Cost of Revenue, Gross Profit and Gross Margin

Three Months Ended September 30,Change(dollars in thousands)20252024($)(%)Cost of revenue$56,753 $50,499 $6,254 12 %Gross profit195,687 176,589 19,098 11 %Gross margin78 %78 %

The increase in cost of revenue of $6.3 million was primarily due to:

•a $2.2 million increase in third-party cloud costs;

•a $1.8 million increase in amortization of acquired intangible assets;

•a $1.0 million increase in personnel costs, including $0.3 million in stock-based compensation;

•a $0.5 million increase in depreciation and amortization expense;

•a $0.2 million increase in professional services;

•a $0.2 million increase in cost of goods; and

•a $0.2 million increase in allocated overhead.

Operating Expenses

Sales and Marketing

Three Months Ended September 30,Change(dollars in thousands)20252024($)(%)Sales and marketing$99,949 $99,083 $866 1 %

The increase in sales and marketing expense of $0.9 million was primarily due to:

•a $0.7 million increase in professional fees;

•a $0.3 million increase in sales commissions; and

•a $0.2 million increase in allocated overhead; partially offset by

•a $0.3 million decrease in expenses for demand generation programs, including advertising, sponsorships and brand awareness efforts.

30

Research and Development

Three Months Ended September 30,Change(dollars in thousands)20252024($)(%)Research and development$56,265 $48,020 $8,245 17 %

The increase in research and development expense of $8.2 million was primarily due to:

•a $7.3 million increase in personnel costs, including a $1.7 million increase in stock-based compensation; and

•a $0.9