Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 84

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 84
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 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. 

Results of Operations

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

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Revenue$252,440 $227,088 $738,872 $664,290 Cost of revenue(1)56,753 50,499 163,647 148,229 Gross profit195,687 176,589 575,225 516,061 Operating expenses:Sales and marketing(1)99,949 99,083 310,222 300,037 Research and development(1)56,265 48,020 168,724 136,896 General and administrative(1)32,337 31,569 114,302 92,889 Restructuring— — — 6,070 Total operating expenses188,551 178,672 593,248 535,892 Income (loss) from operations7,136 (2,083)(18,023)(19,831)Interest income3,590 5,989 12,597 17,587 Interest expense(7,213)(8,148)(21,363)(24,333)Other (expense) income, net(703)359 (204)(858)Income (loss) before income taxes2,810 (3,883)(26,993)(27,435)Provision for income taxes550 5,328 8,388 10,734 Net income (loss)$2,260 $(9,211)$(35,381)$(38,169)

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

Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Cost of revenue$3,495$3,216$10,270$9,486Sales and marketing17,05115,94151,49947,517Research and development14,17412,43542,441