Tempus AI Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 4, 2024
TEM$80.54-4.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net loss | $(692,795) | $(163,635) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Change in fair value of warrant liability | $42,400 | $(8,000) |
| Stock-based compensation | 509,351 | — |
| Gain on warrant exercise | (173) | — |
| Gain on marketable equity securities | (5,119) | — |
| Losses from equity method investments | 1,692 | 301 |
| Amortization of original issue discount | 1,036 | 778 |
| Amortization of deferred financing fees | 383 | 382 |
| Change in fair value of contingent consideration | 165 | (400) |
| Amortization of warrant contract asset | 3,633 | 4,961 |
| Depreciation and amortization | 27,788 | 24,509 |
| Provision for bad debt expense | 545 | 1,538 |
| Change in fair value of warrant asset | (18,302) | — |
| Amortization of finance right-of-use lease assets | — | 283 |
| Non-cash operating lease costs | 4,670 | 5,077 |
| Minimum accretion expense | 85 | 292 |
| Impairment of intangible assets | — | 7,359 |
| PIK interest added to principal | 6,567 | 2,123 |
| Change in assets and liabilities | ||
| Accounts receivable | (51,699) | (25,365) |
| Inventory | (7,293) | (4,875) |
| Prepaid expenses and other current assets | (14,040) | (3,665) |
| Investments and other assets | (410) | (4,378) |
| Accounts payable | (24,776) | (12,253) |
| Deferred revenue | (1,052) | (16,644) |
| Deferred other income | 43,876 | — |
| Accrued data licensing fees | (4,250) | (8,374) |
| Accrued expenses & other | 23,371 | 20,749 |
| Interest payable | 11,208 | 11,724 |
| Operating lease liabilities | (6,655) | (6,559) |
| Net cash used in operating activities | $(149,794) | $(174,072) |
| Investing activities | ||
| Purchases of property and equipment | $(14,159) | $(31,899) |
| Proceeds from sale of marketable equity securities | 23,098 | — |
| Business combinations, net of cash acquired (Note 4) | — | (2,869) |
| Investment in joint venture | (95,186) | — |
| Purchases of marketable equity securities | (36,183) | — |
| Net cash used in investing activities | $(122,430) | $(34,768) |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Financing activities | ||
|---|---|---|
| Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions | $381,951 | $— |
| Tax withholding related to net share settlement of restricted stock units | (69,918) | — |
| Issuance of Series G-5 Preferred Stock | 199,750 | — |
| Principal payments on finance lease liabilities | — | (288) |
| Purchase of treasury stock | — | (3,602) |
| Payment of deferred offering costs | (8,587) | (574) |
| Dividends paid | (5,625) | (5,625) |
| Proceeds from long-term debt, net of original issue discount | — | 48,750 |
| Payment of indemnity holdback related to acquisition | (813) | — |
| G-4 Special Payment | (2,250) | — |
| Net cash provided by financing activities | $494,508 | $38,661 |
| Effect of foreign exchange rates on cash | $(13) | $(24) |
| Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash | $222,271 | $(170,203) |
| Cash, cash equivalents and restricted cash, beginning of period | 166,607 | 303,731 |
| Cash, cash equivalents and restricted cash, end of period | $388,878 | $133,528 |
| Cash, Cash Equivalents and Restricted Cash are Comprised of: | ||
| Cash and cash equivalents | $388,006 | $132,706 |
| Restricted cash and cash equivalents | 872 | 822 |
| Total cash, cash equivalents and restricted cash | $388,878 | $133,528 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the year for interest | $20,899 | $12,293 |
| Cash paid for income taxes | $127 | $101 |
| Supplemental disclosure of noncash investing and financing activities | ||
| Dividends payable | $5,487 | $6,912 |
| Purchases of property and equipment, accrued but not paid | $6,706 | $5,049 |
| Deferred offering costs, accrued but not yet paid | $179 | $2,849 |
| Redemption of convertible promissory note | $18,664 | $22,220 |
| Non-voting common stock issued in connection with business combinations | $344 | $4,305 |
| Operating lease liabilities arising from obtaining right-of-use assets | $550 | $1,097 |
| Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering | $1,348,809 | $— |
| Taxes related to net share settlement of restricted stock units not yet paid | $164 | $— |
| Reclassificiation of deferred offering costs to additional paid-in capital upon initial public offering | $12,347 | $— |
| Issuance of Series G-3 Preferred Stock | $3,809 | $2,738 |
| Issuance of Series G-4 Preferred Stock | $611 | $— |
| Redeemable ConvertiblePreferred · Voting Common Stock · Non-Voting · Treasury · Additional · AccumulatedOther · Total | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock · Class A · Class B · Common Stock · Stock · Paid-in · Accumulated · Comprehensive · Stockholders' | ||||||||||||||
| Units | Amount | Units | Amount | Units | Amount | Units | Amount | Units | Amount | Capital | Deficit | (Loss) Income | Deficit | |
| Balance at December 31, 2023 | 63,525,953 | $1,105,543 | 58,367,961 | $6 | — | $— | 5,205,802 | $0 | (145,466) | $(3,602) | 18,345 | $(1,396,917) | $5 | $(1,382,163) |
| Issuance of Series G-3 Preferred Stock | 66,465 | 3,809 | — | — | — | — | — | — | — | — | — | — | — | — |
| Issuance of Series G-4 Preferred Stock | 10,666 | 611 | — | — | — | — | — | — | — | — | — | — | — | — |
| Issuance of Series G-5 Preferred Stock | 3,489,981 | 199,750 | — | — | — | — | — | — | — | — | — | — | — | — |
| Common stock issued in connection with business combinations | — | — | — | — | — | — | 9,141 | 0 | — | — | 344 | — | — | 344 |
| Dividends | — | 33,669 | — | — | — | — | — | — | — | — | — | (39,347) | — | (39,347) |
| Issuance of common stock in connection with initial public offering, net of underwriting discounts and other offering costs | — | — | 11,100,000 | 1 | — | — | — | — | — | — | 369,603 | — | — | 369,604 |
| Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering | (67,093,065) | (1,343,382) | 71,976,178 | 7 | 5,043,789 | 1 | — | — | — | — | 1,357,562 | (8,761) | — | 1,348,809 |
| Conversion of non-voting common stock to Class A common stock | — | — | 5,069,477 | 1 | — | — | (5,214,943) | 0 | — | — | (1) | — | — | 0 |
| Issuance of common stock upon settlement of restricted stock units, net | — | — | 3,657,288 | 0 | — | — | — | — | — | — | (70,105) | — | — | (70,105) |
| Issuance of common stock upon settlement of warrant | — | — | 109,459 | 0 | — | — | — | — | — | — | (173) | — | — | (173) |
| Stock-based compensation expense | — | — | — | — | — | — | — | — | — | — | 509,351 | — | — | 509,351 |
| Foreign currency translation adjustment | — | — | — | — | — | — | — | — | — | — | — | — | 10,203 | 10,203 |
| Net loss | — | — | — | — | — | — | — | — | — | — | — | (692,795) | — | (692,795) |
| Balance at September 30, 2024 | — | $— | 150,280,363 | $15 | 5,043,789 | $1 | — | $— | (145,466) | $(3,602) | $2,184,926 | $(2,137,820) | $10,208 | $53,728 |
| Redeemable ConvertiblePreferred · Voting Common Stock · Non-Voting · Treasury · Additional · AccumulatedOther · Total | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock · Class A · Class B · Common Stock · Stock · Paid-in · Accumulated · Comprehensive · Stockholders' | ||||||||||||||
| Units | Amount | Units | Amount | Units | Amount | Units | Amount | Units | Amount | Capital | Deficit | (Loss) Income | Deficit | |
| Balance at December 31, 2022 | 62,692,927 | $1,026,143 | 58,367,961 | $6 | — | $— | 4,932,415 | $0 | — | $— | 9,251 | $(1,138,302) | $18 | $(1,129,027) |
| Issuance of Series G-3 Preferred Stock | 47,781 | 2,738 | — | — | — | — | — | — | — | — | — | — | — | — |
| Foreign currency translation adjustment | — | — | — | — | — | — | — | — | — | — | — | — | (29) | (29) |
| Dividends | — | 22,756 | — | — | — | — | — | — | — | — | — | (32,709) | — | (32,709) |
| Repurchase of Non-voting Common Stock | — | — | — | — | — | — | — | — | (145,466) | (3,602) | — | — | — | (3,602) |
| Common stock issued in connection with business combination | — | — | — | — | — | — | 130,874 | 0 | — | — | 4,305 | — | — | 4,305 |
| Net loss | — | — | — | — | — | — | — | — | — | — | — | (163,635) | — | (163,635) |
| Balance at September 30, 2023 | 62,740,708 | $1,051,637 | 58,367,961 | $6 | — | $— | 5,063,289 | $0 | (145,466) | $(3,602) | $13,556 | $(1,334,646) | $(11) | $(1,324,697) |
| RedeemableConvertible Preferred · Voting Common Stock · Non-Voting · Additional · AccumulatedOther · Total | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock · Class A · Class B · Common Stock · Treasury Stock · Paid-in · Accumulated · Comprehensive · Stockholders' | ||||||||||||||
| Units | Amount | Units | Amount | Units | Amount | Units | Amount | Units | Amount | Capital | Deficit | (Loss) Income | Deficit | |
| Balance at June 30, 2024 | — | $— | 149,274,923 | $15 | 5,043,789 | $1 | — | $— | (145,466) | $(3,602) | 2,163,911 | $(2,061,980) | $(94) | $98,251 |
| Issuance of common stock upon settlement of restricted stock units, net | — | — | 1,005,440 | — | — | — | — | — | — | — | (23) | — | — | (23) |
| Stock-based compensation expense | — | — | — | — | — | — | — | — | — | — | 21,038 | — | — | 21,038 |
| Foreign currency translation adjustment | — | — | — | — | — | — | — | — | — | — | — | — | 10,302 | 10,302 |
| Net loss | — | — | — | — | — | — | — | — | — | — | — | (75,840) | — | (75,840) |
| Balance at September 30, 2024 | — | $— | 150,280,363 | $15 | 5,043,789 | $1 | — | — | (145,466) | $(3,602) | $2,184,926 | $(2,137,820) | $10,208 | $53,728 |
| RedeemableConvertible Preferred · Voting Common Stock · Non-Voting · Additional · AccumulatedOther · Total | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock · Class A · Class B · Common Stock · Treasury Stock · Paid-in · Accumulated · Comprehensive · Stockholders' | ||||||||||||||
| Units | Amount | Units | Amount | Units | Amount | Units | Amount | Units | Amount | Capital | Deficit | (Loss) Income | Deficit | |
| Balance at June 30, 2023 | 62,740,708 | $1,042,861 | 58,367,961 | $6 | — | $— | 5,063,289 | $0 | (145,466) | $(3,602) | 13,556 | $(1,270,077) | $43 | $(1,260,074) |
| Foreign currency translation adjustment | — | — | — | — | — | — | — | — | — | — | — | — | (54) | (54) |
| Dividends | — | 8,776 | — | — | — | — | — | — | — | — | — | (11,143) | — | (11,143) |
| Net loss | — | — | — | — | — | — | — | — | — | — | — | (53,426) | — | (53,426) |
| Balance at September 30, 2023 | 62,740,708 | $1,051,637 | 58,367,961 | $6 | — | $— | 5,063,289 | $0 | (145,466) | $(3,602) | $13,556 | $(1,334,646) | $(11) | $(1,324,697) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.