Company: TENB
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001660280-25-000034
Chunk: 102

Company: Tenable Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 102
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ordinary course severance and employee-related benefits.

Interest Income, Interest Expense and Other Expense, Net

Year Ended December 31,Change(dollars in thousands)20242023($)(%)Interest income$23,325 $24,700 $(1,375)(6)%Interest expense(31,920)(31,339)(581)2 %Other expense, net(3,435)(8,602)5,167 (60)%

The $1.4 million decrease in interest income was primarily due to lower interest rates on our cash and cash equivalents and short-term investments. The $0.6 million increase in interest expense was primarily due to an increase in the variable rate of our Term Loan. The $5.2 million decrease in other expense, net was primarily due to $5.6 million of impairment losses on our simple agreements for future equity, or SAFE, investments in 2023 and a $1.5 million gain on the conversion of a SAFE investment to an investment in preferred stock in 2024, partially offset by a $1.9 million increase in foreign exchange losses.

Provision for Income Taxes

Year Ended December 31,Change(dollars in thousands)20242023($)(%)Provision for income taxes$17,415 $10,883 $6,532 60 %

In 2024, the provision for income taxes included:

•$6.9 million of discrete expenses primarily related to withholding taxes on sales to customers; 

60

•$6.2 million of income taxes in foreign jurisdictions in which we conduct business; 

•$3.3 million related to Base Erosion and Anti-Abuse Tax, or BEAT; and

•$1.2 million of additional tax incurred related to the 2021 restructuring of Indegy; partially offset by 

•$0.2 million of deferred tax benefits related to the Alsid acquisition.

In 2023, the provision for income taxes included:

•$5.8 million of income taxes in foreign jurisdictions in which we conduct business; and 

•$5.3 million of discrete expenses primarily related to withholding taxes on sales to customers; partially offset by 

•$0.2 million of deferred tax benefits related to the Alsid acquisition.

Comparison of 2023 and 2022 

For a discussion of our consolidated results for 2023 compared to 2022, see our Annual Report on Form 10-K filed with the SEC on February