Tenable Holdings, Inc.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 27, 2026
TENB$41.96-3.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Cash flows from operating activities: | |||
| Net loss | $(36,118) | $(36,301) | $(78,284) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 41,955 | 33,209 | 27,108 |
| Stock-based compensation | 191,813 | 163,515 | 145,327 |
| Net accretion of discounts and amortization of premiums on short-term investments | (3,131) | (7,595) | (8,323) |
| Amortization of debt issuance costs | 1,442 | 1,353 | 1,267 |
| Loss (gain) on other investments | 18 | (1,452) | 5,617 |
| Restructuring | — | 4,528 | — |
| Other | 3,856 | 6,507 | 2,179 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (18,236) | (38,730) | (30,042) |
| Prepaid expenses and other assets | 12,767 | 26,170 | 1,689 |
| Accounts payable, accrued expenses and accrued compensation | 12,147 | (8,257) | 7,071 |
| Deferred revenue | 58,361 | 82,581 | 81,755 |
| Other current and noncurrent liabilities | 1,876 | (8,052) | (5,509) |
| Net cash provided by operating activities | 266,750 | 217,476 | 149,855 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (12,102) | (4,247) | (1,704) |
| Capitalized software development costs | (4,474) | (6,451) | (7,052) |
| Purchases of short-term investments | (145,342) | (287,797) | (278,209) |
| Sales and maturities of short-term investments | 182,670 | 283,964 | 317,651 |
| Purchases of other investments | — | (1,250) | — |
| Proceeds from other investments | 852 | 3,512 | — |
| Business combinations, net of cash acquired | (196,182) | (29,162) | (243,301) |
| Net cash used in investing activities | (174,578) | (41,431) | (212,615) |
| Cash flows from financing activities: | |||
| Payments on term loan | (3,750) | (3,750) | (3,750) |
| Proceeds from stock issued in connection with the employee stock purchase plan | 15,482 | 16,262 | 16,224 |
| Proceeds from the exercise of stock options | 3,619 | 8,064 | 3,501 |
| Payments for taxes related to net share settlement of equity awards | (1,978) | — | — |
| Purchase of treasury stock | (247,468) | (99,977) | (14,934) |
| Other financing activities | — | — | 210 |
| Net cash (used in) provided by financing activities | (234,095) | (79,401) | 1,251 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | 1,038 | (5,129) | (2,225) |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (140,885) | 91,515 | (63,734) |
| Cash and cash equivalents and restricted cash at beginning of year | 328,647 | 237,132 | 300,866 |
| Cash and cash equivalents and restricted cash at end of year | $187,762 | $328,647 | $237,132 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $26,841 | $30,977 | $34,323 |
| Cash paid for income taxes, net of refunds | 11,801 | 15,180 | 8,981 |
| Supplemental cash flow information related to leases: | |||
| Cash payments for operating leases | $10,455 | $9,204 | $8,914 |
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