Company: TENB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001660280-25-000072
Chunk: 80

Company: Tenable Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 80
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 of $9.5 million was primarily due to:

•an $8.4 million increase in personnel costs, including a $1.8 million increase in stock-based compensation;

•a $1.3 million increase in acquisition-related expenses; and

•a $0.4 million increase in allocated overhead; partially offset by

•a $0.3 million decrease in depreciation expense,

•a $0.2 million decrease in third-party cloud infrastructure costs; and 

•a $0.1 million increase in tax credits.

General and Administrative

Three Months Ended March 31,Change(dollars in thousands)20252024($)(%)General and administrative$47,983 $31,018 $16,965 55 %

The increase in general and administrative expense of $17.0 million was primarily due to:

•a $13.9 million increase in personnel costs, including $15.5 million in termination benefits including cash compensation and accelerated equity award vesting related to the passing of our Chairman and Chief Executive Officer;

•a $2.1 million increase in acquisition-related expenses;

•a $0.7 million increase in professional fees; and 

•a $0.2 million increase in allocated overhead.

Restructuring

Three Months Ended March 31,Change(dollars in thousands)20252024($)(%)Restructuring$— $1,389 $(1,389)(100)%

Restructuring in the prior year included $1.4 million in non-ordinary course severance, employee related benefits and other charges to reorganize business operations.

Interest Income, Interest Expense and Other Expense, Net

Three Months Ended March 31,Change(dollars in thousands)20252024($)(%)Interest income$4,927 $5,624 $(697)(12)%Interest expense(7,011)(8,112)1,101 (14)%Other income (expense), net474 (1,310)1,784 (136)%

31

The $0.7 million decrease in interest income was due to a decrease in short-term investments. Interest expense decreased $1.1 million due to a decrease in the interest rate on our Term Loan. Other income, net increased $1.8 million primarily due to foreign exchange gains.

Provision for Income Taxes

Three Months Ended March 31,Change(dollars in thousands)20252024($)(%)Provision for income taxes$3,614