Company: TENB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001660280-25-000090
Chunk: 35

Company: Tenable Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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Perpetual license and maintenance revenue22,963 24,172 (1,209)(5)%Professional services and other revenue14,995 12,857 2,138 17 %Revenue$486,432 $437,202 $49,230 11 %

The increase in revenue of $49.2 million included $46.6 million from existing customers as of July 1, 2024, and $2.6 million from new customers. U.S. revenue increased $22.6 million, or 10%. International revenue increased $26.6 million, or 13%.

Cost of Revenue, Gross Profit and Gross Margin

Six Months Ended June 30,Change(dollars in thousands)20252024($)(%)Cost of revenue$106,894 $97,730 $9,164 9 %Gross profit379,538 339,472 40,066 12 %Gross margin78 %78 %

The increase in cost of revenue of $9.2 million was primarily due to:

•a $3.0 million increase in amortization of intangible assets due to acquired intangible assets;

•a $2.4 million increase in depreciation and amortization expenses;

•a $1.6 million increase in personnel costs, including a $0.5 million increase in stock-based compensation;

•a $1.2 million increase in third-party cloud infrastructure costs;

•a $0.5 million increase in software subscription costs;

•a $0.2 million increase in allocated overhead; and 

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•a $0.2 million increase in professional fees.

Operating Expenses

Sales and Marketing

Six Months Ended June 30,Change(dollars in thousands)20252024($)(%)Sales and marketing$210,273 $200,954 $9,319 5 %

The increase in sales and marketing expense of $9.3 million was primarily due to:

•a $2.7 million increase in expenses for demand generation programs, including advertising, sponsorships and brand awareness efforts;

•a $2.4 million increase in personnel costs, primarily stock-based compensation;

•a $2.1 million increase in sales commissions;

•a $1.5 million increase in selling expenses; and

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

•a $0.4 million decrease in depreciation expense; and

•a