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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6. Goodwill and Intangible Assets
- Goodwill and Intangible Assets
At March 31, 2024 and December 31, 2023, our goodwill balance was $518.5 million.
Acquired intangible assets subject to amortization are as follows:
| March 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| (in thousands) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount |
| Acquired technology | $142,537 | $(40,188) | $102,349 | $142,537 | $(35,520) | $107,017 |
| Trade name | 490 | (490) | — | 490 | (490) | — |
| $143,027 | $(40,678) | $102,349 | $143,027 | $(36,010) | $107,017 | |
Amortization of acquired intangible assets was $4.7 million and $3.1 million in the three months ended March 31, 2024 and 2023, respectively. At March 31, 2024, our acquired intangible assets are expected to be amortized over an estimated remaining weighted average period of 6.0 years.
At March 31, 2024, estimated future amortization of acquired intangible assets is as follows:
| (in thousands) | |
|---|---|
| Year ending December 31, | |
| 2024(1) | $14,007 |
| 2025 | 18,675 |
| 2026 | 18,490 |
| 2027 | 16,460 |
| 2028 | 13,417 |
| Thereafter | 21,300 |
| Total | $102,349 |
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