Tenable Holdings Inc
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
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4. Fair Value Measurements
- Fair Value Measurements
We measure certain financial instruments at fair value using a fair value hierarchy. In the hierarchy, assets are classified based on the lowest level inputs used in valuation into the following categories:
Level 1 — Quoted prices in active markets for identical assets and liabilities;
Level 2 — Observable inputs including quoted market prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in inactive markets, or inputs that are corroborated by observable market data; and
Level 3 — Unobservable inputs.
The following tables summarize assets that are measured at fair value on a recurring basis:
| March 31, 2024 | ||||
|---|---|---|---|---|
| (in thousands) | Level 1 | Level 2 | Level 3 | Total |
| Cash equivalents | ||||
| Money market funds | $151,173 | $— | $— | $151,173 |
| Total cash equivalents | $151,173 | $— | $— | $151,173 |
| Short-term investments | ||||
| Commercial paper | $— | $78,345 | $— | $78,345 |
| Corporate bonds | — | 70,027 | — | 70,027 |
| Asset backed securities | — | 18,514 | — | 18,514 |
| Yankee bonds | — | 8,901 | — | 8,901 |
| U.S. Treasury and agency obligations | — | 75,007 | — | 75,007 |
| Total short-term investments | $— | $250,794 | $— | $250,794 |
| December 31, 2023 | ||||
|---|---|---|---|---|
| (in thousands) | Level 1 | Level 2 | Level 3 | Total |
| Cash equivalents | ||||
| Money market funds | $130,375 | $— | $— | $130,375 |
| Total cash equivalents | $130,375 | $— | $— | $130,375 |
| Short-term investments | ||||
| Commercial paper | $— | $82,216 | $— | $82,216 |
| Corporate bonds | — | 61,149 | — | 61,149 |
| Asset backed securities | — | 15,043 | — | 15,043 |
| Yankee bonds | — | 6,913 | — | 6,913 |
| U.S. Treasury and agency obligations | — | 71,519 | — | 71,519 |
| Total short-term investments | $— | $236,840 | $— | $236,840 |
At March 31, 2024 and December 31, 2023, we had $5.9 million and $9.4 million, respectively, of SAFE investments with privately held companies, which are included in other assets on our consolidated balance sheets. We record our SAFE investments at cost, less any impairment, plus or minus observable price changes for similar investments of the same issuer. During the three months ended March 31, 2024, we received $3.5 million in proceeds from one of our SAFE investments and expect to collect the remaining $0.9 million once escrow funds have been released. No material events impacted the carrying value of our SAFE investments in the three months ended March 31, 2024 and 2023.
We did not have any liabilities measured and recorded at fair value on a recurring basis at March 31, 2024 and December 31, 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.