Tempus AI Inc

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About 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.

Jun 30, 2024 · Filed Aug 6, 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 exhibits

Contents

Condensed Consolidated Statements of Cash Flows

	Six Months Ended June 30,
	2024	2023
Operating activities
Net loss	$(616,955)	$(110,209)
Adjustments to reconcile net loss to net cash used in operating activities
Change in fair value of warrant liability	$(900)	$(5,700)
Stock-based compensation	488,313	—
Gain on warrant exercise	(173)	—
Gain on marketable equity securities	(2,541)	—
Amortization of original issue discount	691	489
Amortization of deferred financing fees	255	255
Change in fair value of contingent consideration	165	—
Amortization of warrant contract asset	2,422	3,307
Depreciation and amortization	18,348	16,185
Provision for bad debt expense	327	1,376
Change in fair value of warrant asset	7,700	—
Loss from equity-method investments	—	301
Amortization of finance right-of-use lease assets	—	190
Non-cash operating lease costs	3,252	3,382
Minimum accretion expense	92	187
Impairment of intangible assets	—	7,359
PIK interest added to principal	4,366	297
Change in assets and liabilities
Accounts receivable	(23,971)	(6,850)
Inventory	(3,845)	(5,101)
Prepaid expenses and other current assets	(12,409)	(1,634)
Investments and other assets	1,294	(4,528)
Accounts payable	(33,371)	(4,195)
Deferred revenue	(28,669)	(19,974)
Accrued data licensing fees	(2,749)	(7,608)
Accrued expenses & other	(2,805)	8,125
Interest payable	7,287	7,611
Operating lease liabilities	(4,582)	(4,352)
Net cash used in operating activities	$(198,458)	$(121,087)
Investing activities
Purchases of property and equipment	$(14,116)	$(15,906)
Proceeds from sale of marketable equity securities	23,098	—
Business combinations, net of cash acquired (Note 4)	—	(2,869)
Net cash provided by (used in) investing activities	$8,982	$(18,775)
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	—	(192)
Purchase of treasury stock	—	(3,602)
Payment of deferred offering costs	(2,714)	(151)
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)	—
Net cash provided by financing activities	$502,631	$39,180
Effect of foreign exchange rates on cash	$(90)	$28

Cash, Cash Equivalents and Restricted Cash are Comprised of:
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash	$313,065	$(100,654)
Cash, cash equivalents and restricted cash, beginning of period	166,607	303,731
Cash, cash equivalents and restricted cash, end of period	$479,672	$203,077
Cash and cash equivalents	$478,811	$202,266
Restricted cash and cash equivalents	861	811
Total cash, cash equivalents and restricted cash	$479,672	$203,077
Supplemental disclosure of cash flow information
Cash paid during the year for interest	$13,921	$5,691
Cash paid for income taxes	$89	$41
Supplemental disclosure of noncash investing and financing activities
Dividends payable	$5,487	$4,545
Purchases of property and equipment, accrued but not paid	$1,108	$2,952
Deferred offering costs, accrued but not yet paid	$6,051	$2,917
Redemption of convertible promissory note	$12,476	$13,926
Non-voting common stock issued in connection with business combinations	$344	$4,305
Operating lease liabilities arising from obtaining right-of-use assets	$—	$892
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	$—

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE

PREFERRED STOCK, COMMON STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)

Redeemable Convertible Preferred Stock · Voting Common Stock · Non-Voting Common Stock · Treasury Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders’ Deficit
Class A · Class B
Units · Amount · Units · Amount · Units · Amount · Units · Amount · Units · Amount
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 offering costs, underwriting discounts and commissions	—	—	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	—	—	2,651,848	0	—	—	—	—	—	—	(70,082)	—	—	(70,082)
Issuance of common stock upon settlement of warrant	—	—	109,459	0	—	—	—	—	—	—	(173)	—	—	(173)
Stock-based compensation expense	—		—	—	—	—	—	—	—	—	488,313		—	488,313
Foreign currency translation adjustment	—	—	—	—	—	—	—	—	—	—	—	—	(99)	(99)
Net loss	—	—	—	—	—	—	—	—	—	—	—	(616,955)	—	(616,955)
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
Redeemable Convertible Preferred Stock · Voting Common Stock · Non-Voting Common Stock · Treasury Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders’ Deficit
Class A · Class B
Units · Amount · Units · Amount · Units · Amount · Units · Amount · Units · Amount
Balance at December 31, 2022	62,692,927	$1,026,143	58,367,961	$6	—	$—	4,932,415	$0	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	—	—	—	—	—	—	—	—	—	—	—	—	25	25
Dividends	—	13,980	—	—	—	—	—	—	—	—	—	(21,566)	—	(21,566)
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	—	—	—	—	—	—	—	—	—	—	—	(110,209)	—	(110,209)
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)

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE

PREFERRED STOCK, COMMON STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)

Redeemable Convertible Preferred Stock · Voting Common Stock · Non-Voting Common Stock · Treasury Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders’ Deficit
Class A · Class B
Units · Amount · Units · Amount · Units · Amount · Units · Amount · Units · Amount
Balance at March 31, 2024	63,603,084	$1,134,802	58,367,961	$6	—	$—	5,214,943	$0	(145,466)	$(3,602)	$18,689	$(1,489,467)	$(51)	$(1,474,425)
Issuance of Series G-5 Preferred Stock	3,489,981	199,750	—	—	—	—	—	—	—	—	—	—	—	—
Dividends	—	8,830	—	—	—	—	—	—	—	—	—	(11,540)	—	(11,540)
Issuance of common stock in connection with initial public offering, net of offering costs, underwriting discounts and commissions	—	—	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	—	—	2,651,848	0	—	—	—	—	—	—	(70,082)	—	—	(70,082)
Issuance of common stock upon settlement of warrant	—	—	109,459	0	—	—	—	—	—	—	(173)	—	—	(173)
Stock-based compensation expense	—	—	—	—	—	—	—	—	—	—	488,313	—	—	488,313
Foreign currency translation adjustment	—	—	—	—	—	—	—	—	—	—	—	—	(43)	(43)
Net loss	—	—	—	—	—	—	—	—	—	—	—	(552,212)	—	(552,212)
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
Redeemable Convertible Preferred Stock · Voting Common Stock · Non-Voting Common Stock · Treasury Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated Other Comprehensive (Loss) Income · Total Stockholders’ Deficit
Class A · Class B
Units · Amount · Units · Amount · Units · Amount · Units · Amount · Units · Amount
Balance at March 31, 2023	62,740,708	$1,034,321	58,367,961	$6	—	$—	5,063,289	$0	(145,466)	$(3,602)	13,556	$(1,203,348)	$(10)	$(1,193,398)
Foreign currency translation adjustment	—	—	—	—	—	—	—	—	—	—	—	—	53	53
Dividends	—	8,540	—	—	—	—	—	—	—	—	—	(10,897)	—	(10,897)
Net loss	—	—	—	—	—	—	—	—	—	—	—	(55,832)	—	(55,832)
Balance at June 30, 2023	62,740,708	$1,042,861	58,367,961	$6	0	$—	5,063,289	$0	(145,466)	$(3,602)	$13,556	$(1,270,077)	$43	$(1,260,074)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.