Tenable Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
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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:
| December 31, 2024 | ||||
|---|---|---|---|---|
| (in thousands) | Level 1 | Level 2 | Level 3 | Total |
| Cash equivalents | ||||
| Money market funds | $190,750 | $— | $— | $190,750 |
| Total cash equivalents | $190,750 | $— | $— | $190,750 |
| Short-term investments | ||||
| Commercial paper | $— | $41,604 | $— | $41,604 |
| Corporate bonds | — | 95,410 | — | 95,410 |
| Asset backed securities | — | 30,796 | — | 30,796 |
| Yankee bonds | — | 14,007 | — | 14,007 |
| U.S. Treasury and agency obligations | — | 66,730 | — | 66,730 |
| Total short-term investments | $— | $248,547 | $— | $248,547 |
| 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 |
Other Investments
Our investments in privately held securities were as follows:
| December 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Equity securities | $6,701 | $— |
| Debt and other securities | 1,871 | 9,383 |
| Total other investments | $8,572 | $9,383 |
Other investments are classified as Level 3 as they do not have readily determinable market values.
In 2024, we received $3.5 million in proceeds from one of our SAFE investments and expect to collect the remaining $0.9 million once the escrow funds are released. Additionally in 2024, we recognized a $1.5 million gain on the conversion of our SAFE investment to an investment in preferred stock. In 2023, we identified impairment indicators fortwo of our SAFE investments and determined our investments were impaired, resulting in an impairment loss of $5.6 million that was recorded in other expense, net on our consolidated statement of operations.
We did not have any liabilities measured and recorded at fair value on a recurring basis at December 31, 2024 and 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.