Tenable Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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3. Cash Equivalents and Short-Term Investments
- Cash Equivalents and Short-Term Investments
The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments:
| December 31, 2023 | ||||
|---|---|---|---|---|
| (in thousands) | Amortized Cost | Unrealized Gain | Unrealized Loss | Estimated Fair Value |
| Cash equivalents | ||||
| Money market funds | $130,375 | $— | $— | $130,375 |
| Total cash equivalents | $130,375 | $— | $— | $130,375 |
| Short-term investments | ||||
| Commercial paper | $82,188 | $50 | $(22) | $82,216 |
| Corporate bonds | 61,200 | 40 | (91) | 61,149 |
| Asset backed securities | 15,032 | 26 | (15) | 15,043 |
| Yankee bonds | 6,926 | 4 | (17) | 6,913 |
| U.S. Treasury and agency obligations | 71,456 | 97 | (34) | 71,519 |
| Total short-term investments | $236,802 | $217 | $(179) | $236,840 |
| December 31, 2022 | ||||
|---|---|---|---|---|
| (in thousands) | Amortized Cost | Unrealized Gain | Unrealized Loss | Estimated Fair Value |
| Cash equivalents | ||||
| Money market funds | $201,476 | $— | $— | $201,476 |
| Total cash equivalents | $201,476 | $— | $— | $201,476 |
| Short-term investments | ||||
| Commercial paper | $144,093 | $2 | $(377) | $143,718 |
| Corporate bonds | 37,778 | — | (194) | 37,584 |
| Asset backed securities | 19,723 | 11 | (161) | 19,573 |
| Certificates of deposit | 10,000 | — | — | 10,000 |
| Supranational bonds | 4,017 | — | (67) | 3,950 |
| U.S. Treasury and agency obligations | 52,309 | — | (565) | 51,744 |
| Total short-term investments | $267,920 | $13 | $(1,364) | $266,569 |
We considered the extent to which any unrealized losses on our short-term investments were driven by credit risk and other factors, including market risk, and if it is more-likely-than-not that we would have to sell the security before the recovery of the amortized cost basis. At December 31, 2023 and 2022, our unrealized losses were due to rising market interest rates compared to when the investments were initiated. We do not believe any unrealized losses represent credit losses, and it is unlikely we would sell the investments before we would recover their amortized cost basis.
The contractual maturities of our short-term investments are as follows:
| December 31, 2023 | December 31, 2022 | |||
|---|---|---|---|---|
| (in thousands) | Amortized Cost | Estimated Fair Value | Amortized Cost | Estimated Fair Value |
| Due within one year | $219,437 | $219,414 | $243,430 | $242,129 |
| Due between one and four years | 17,365 | 17,426 | 24,490 | 24,440 |
| Total short-term investments | $236,802 | $236,840 | $267,920 | $266,569 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.