Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 37

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 the sublease of a portion of our headquarters and $1.6 million in non-ordinary course severance and employee related benefits.

Interest Income, Interest Expense and Other Expense, Net

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)Interest income$12,597 $17,587 $(4,990)(28)%Interest expense(21,363)(24,333)(2,970)(12)%Other expense, net(204)(858)654 (76)%

The $5.0 million decrease in interest income was due to a decrease in short-term investments and reduced rates of return. Interest expense decreased $3.0 million due to a decrease in the interest rate on our Term Loan. Other expense decreased $0.7 million primarily due to an increase in foreign exchange gains partially offset by a $1.5 million gain on conversion of one of our SAFE investments in the prior year.

Provision for Income Taxes

Nine Months Ended September 30,Change(dollars in thousands)20252024($)(%)Provision for income taxes$8,388 $10,734 $(2,346)(22)%

In the nine months ended September 30, 2025, the provision for income taxes included:

•$4.9 million of discrete items primarily related to withholding taxes on sales to customers; and

•$3.5 million of income taxes in foreign jurisdictions in which we conduct business. Income tax expense in the three months ended September 30, 2025 related to foreign jurisdictions, was reduced by a $3.2 million interim intraperiod allocation, which we expect to reverse in the three months ended December 31, 2025.

In the nine months ended September 30, 2024, the provision for income taxes included:

•$5.6 million of income taxes in foreign jurisdictions in which we conduct business;

•$2.6 million of discrete items primarily related to withholding taxes on sales to customers; and

•$2.5 million related to Base Erosion and Anti-Abuse Tax.

Liquidity and Capital Resources

At September 30, 2025, we had $171.9 million of cash and cash equivalents, which consisted of cash deposits and money market funds, and $211.7 million of short-term investments, which consisted of commercial paper, asset backed securities, U.S. Treasury and agency obligations and corporate and Yankee bonds.