Tenable Holdings Inc
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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, 2025 · Filed May 6, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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7. Leases
- Leases
We have operating leases for office facilities. The components of lease expense were as follows:
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Operating lease cost(1) | $2,403 | $1,895 |
(1)Excludes sublease income.
In June 2024, we executed a sublease of a portion of our corporate headquarters through February 2032. Sublease income, which is recorded as a reduction of rent expense, was $0.4 million for the three months ended March 31, 2025.
Rent expense for short-term leases in the three months ended March 31, 2025 and 2024 was not material.
Supplemental information related to leases was as follows:
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Operating leases | ||
| Weighted average remaining lease term | 6.3 years | 6.5 years |
| Weighted average discount rate | 6.1% | 6.1% |
In the three months ended March 31, 2025 and 2024, we didnot obtain any right-of-use assets in exchange for lease liabilities.
Maturities of operating lease liabilities at March 31, 2025 were as follows:
| (in thousands) | |
|---|---|
| Year ending December 31, | |
| 2025(1) | $6,730 |
| 2026 | 12,170 |
| 2027 | 11,736 |
| 2028 | 11,077 |
| 2029 | 10,740 |
| Thereafter | 21,968 |
| Total lease payments | 74,421 |
| Less: Imputed interest | (13,495) |
| Total | $60,926 |
Operating lease payments in the table above do not include $0.9 million, $1.7 million, $1.8 million, $1.9 million, $1.9 million and $4.5 million of sublease payments we expect to receive in 2025, 2026, 2027, 2028, 2029 and thereafter, respectively.
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