Company: TENB
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001660280-25-000034
Chunk: 99

Company: Tenable Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 99
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 fees on our senior secured revolving credit facility, or Revolving Credit Facility, and letter of credit fees. Other expense, net consists primarily of foreign currency remeasurement and transaction gains and losses and any realized and unrealized gains and losses, including impairment losses and gains related to our non-marketable investments.

Provision for Income Taxes

Provision for income taxes consists of income taxes in all jurisdictions in which we conduct business and the related withholding taxes on sales with customers. We have recorded deferred tax assets for which a full valuation allowance has been provided, including net operating loss carryforwards and tax credits. We expect to maintain this full valuation allowance for the foreseeable future as it is more likely than not that some or all of those deferred tax assets may not be realized based on our history of losses.

57

Results of Operations 

The following tables set forth our consolidated results of operations for the periods presented: 

Year Ended December 31,(in thousands)202420232022Revenue$900,021 $798,710 $683,191 Cost of revenue(1)199,668 183,577 154,789 Gross profit700,353 615,133 528,402 Operating expenses:Sales and marketing(1)395,385 393,450 349,430 Research and development(1)181,624 153,163 143,560 General and administrative(1)124,130 116,181 103,227 Restructuring6,070 4,499 — Total operating expenses707,209 667,293 596,217 Loss from operations(6,856)(52,160)(67,815)Interest income23,325 24,700 6,284 Interest expense(31,920)(31,339)(19,001)Other expense, net(3,435)(8,602)(4,757)Loss before income taxes(18,886)(67,401)(85,289)Provision for income taxes17,415 10,883 6,933 Net loss$(36,301)$(78,284)$(92,222)

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(1)    Includes stock-based compensation expense as follows:

Year Ended December 31,(in thousands)202420232022Cost of revenue$12,677$11,247$8,369Sales and marketing62,72761,32249,383Research and development47,65637,22531,499General and administrative