Tenable Holdings Files Q3 2024 10-Q

TL;DR

Tenable Holdings filed its Q3 2024 10-Q, check financials.

AI Summary

Tenable Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides investors with the latest financial health and performance indicators for Tenable Holdings, Inc., crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial information, not indicating immediate or significant new risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20241105 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Tenable Holdings, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 20241105 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share TENB The Nasdaq Stock Market

Filing Documents

• tenb-20240930.htm (10-Q) — 1385KB
• q32024exhibit311.htm (EX-31.1) — 15KB
• q32024exhibit312.htm (EX-31.2) — 15KB
• q32024exhibit321.htm (EX-32.1) — 7KB
• 0001660280-24-000153.txt ( ) — 7035KB
• tenb-20240930.xsd (EX-101.SCH) — 44KB
• tenb-20240930_cal.xml (EX-101.CAL) — 79KB
• tenb-20240930_def.xml (EX-101.DEF) — 217KB
• tenb-20240930_lab.xml (EX-101.LAB) — 568KB
• tenb-20240930_pre.xml (EX-101.PRE) — 405KB
• tenb-20240930_htm.xml (XML) — 1003KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Loss 5 Consolidated Statements of Stockholders' Equity 6 Consolidated Statements of Cash Flows 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 1. Business and Summary of Significant Accounting Policies 8 2. Revenue 9 3. Cash Equivalents and Short-Term Investments 10 4. Fair Value Measurements 11 5. Property and Equipment, Net 12 6. Acquisitions, Goodwill and Intangible Assets 13 7. Leases 14 8. Debt 15 9. Commitments and Contingencies 16 10. Stock-Based Compensation 17 11. Income Taxes 18 12. Net Loss Per Share 19 13. Geographic Information 19 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 37

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 6. Exhibits 45

Signatures

Signatures 46 Where You Can Find More Information Investors and others should note that we may announce material business and financial information to our investors using our investor relations website (https://investors.tenable.com), our filings with the Securities and Exchange Commission (SEC), our website, webcasts, press releases, and conference calls. We use these mediums, including our website, to communicate with investors and the general public about our company, our products, and other issues, and for complying with our disclosure obligations under Regulation FD. It is possible that the information that we make available on our website may be deemed to be material information. We therefore encourage investors and others interested in our company to review the information that we make available on our website, in addition to following our SEC filings, our webcasts, press releases, and conference calls. The information we post through these channels is not a part of this Quarterly Report on Form 10-Q. These channels be may updated from time to time on our investor relations website. 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TENABLE HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (in thousands, except per share data) (unaudited) Assets Current assets: Cash and cash equivalents $ 312,207 $ 237,132 Short-term investments 236,242 236,840 Accounts receivable (net of allowance for doubtful accounts of $ 971 and $ 470 at September 30, 2024 and December 31, 2023, respectively) 192,648 220,060 Deferred commissions 49,858 49,559 Prepaid expenses and other current assets 52,575 61,882 Total current assets 843,530 805,473 Property and equipment, net 39,780 45,436 Deferred commissions (net of current portion) 64,405 72,394 Operating lease right-of-use assets 32,127 34,835 Acquired intangible assets, net 99,474 107,017 Goodwill 541,292 518,539 Other assets 13,811 23,177 Total assets $ 1,634,419 $ 1,606,871 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 17,833 $ 16,941 Accrued compensation 43,040 66,492 Deferred revenue 583,940 580,779 Operating lease liabilities 6,099 5,971 Other current liabilities 6,205 5,655 Total current liabilities 657,117 675,838 Deferred revenue (net of current portion) 163,512 169,718 Term loan, net of issuance costs (net of current portion) 357,334 359,281 Operating lease liabilities (net of current portion) 43,706 48,058 Other liabilities 8,195 7,632 Total liabilities 1,229,864 1,260,527 Stockholders' equity: Common stock (par value: $ 0.01 ; 500,000 shares authorized; 121,344 and 117,504 shares issued at September 30, 2024 and December 31, 2023, respectively) 1,213 1,175 Additional paid-in capital 1,330,517 1,185,100 Treasury stock (at cost: 1,471 and 356 shares at September 30, 2024 and December 31, 2023, respectively) ( 64,925 ) ( 14,934 ) Accumulated other comprehensive income 954 38 Accumulated deficit ( 863,204 ) ( 825,035 ) Total stockholders' equity 404,555 346,344 Total liabilities and stockholders' equity $

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. Business and Summary of Significant Accounting Policies Business Description Tenable Holdings, Inc. (the "Company," "we," "us," or "our") is a provider of exposure management solutions. Exposure management is an effective discipline for measuring, comparing and reducing cybersecurity risk in today's complex IT environments. Our solutions provide broad visibility into security issues such as vulnerabilities, misconfigurations, internal and regulatory compliance violations and other indicators of the state of an organization's security across IT infrastructure and applications, cloud environments, Active Directory and industrial internet of things and operational technology environments. Basis of Presentation The accompanying consolidated financial statements include the accounts of Tenable Holdings, Inc. and our wholly owned subsidiaries and have been prepared in conformity with United States generally accepted accounting principles ("GAAP") for interim financial information. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related notes included in our 2023 Annual Report on Form 10-K ("10-K") filed with the Securities and Exchange Commission on February 28, 2024. The consolidated financial statements have been prepared on a basis consistent with the audited annual consolidated financial statements included in the 10-K and, in the opinion of management, include all adjustments of a normal recurring nature necessary to fairly state our financial position, our results of operations, and cash flows. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of the operating results expected for the year ending December 31, 2024 or any other future period. Use of Estimates The preparation of consolidated financi

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