Tempus AI, Inc.
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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, 2025 · Filed Nov 4, 2025
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net loss | $(190,862) | $(692,795) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Change in fair value of warrant liability | $— | $42,400 |
| Stock-based compensation | 79,408 | 509,351 |
| Gain on warrant exercise | — | (173) |
| Gain on marketable equity securities | (4,731) | (5,119) |
| Loss on debt extinguishment | 12,034 | — |
| Deferred income taxes | (46,216) | — |
| Losses from equity method investments | 2,465 | 1,692 |
| Amortization of original issue discount | 2,615 | 1,036 |
| Amortization of deferred financing fees | 398 | 383 |
| Change in fair value of contingent consideration | — | 165 |
| Change in fair value of holdback liability | 291 | — |
| Amortization of warrant contract asset | — | 3,633 |
| Depreciation and amortization | 75,416 | 27,788 |
| Provision for bad debt expense | 767 | 545 |
| Provision for obsolete inventory | 1,135 | — |
| Change in fair value of warrant asset | — | (18,302) |
| Non-cash operating lease costs | 7,866 | 4,670 |
| Minimum accretion expense | 109 | 85 |
| PIK interest added to principal | 8,839 | 6,567 |
| Change in assets and liabilities | ||
| Accounts receivable(1) | (63,199) | (51,699) |
| Inventory | (6,537) | (7,293) |
| Prepaid expenses and other current assets | (3,991) | (14,040) |
| Investments and other assets | (16,700) | (410) |
| Accounts payable | (18,528) | (24,776) |
| Related party asset | (25,000) | — |
| Deferred revenue(2) | 17,398 | (1,052) |
| Deferred other income | (11,966) | 43,876 |
| Accrued data licensing fees | 3,730 | (4,250) |
| Accrued expenses & other | (5,179) | 23,371 |
| Interest payable | 10,288 | 11,208 |
| Operating lease liabilities | (11,152) | (6,655) |
| Net cash used in operating activities | $(181,302) | $(149,794) |
(1) Includes increase in related party accounts receivable of $2,352 and $1,909 as of September 30, 2025 and September 30, 2024, respectively.
(2) Includes increase in related party deferred revenue of $19,918 and $0 as of September 30, 2025 and September 30, 2024, respectively.
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Investing activities | ||
| Purchases of property and equipment | $(16,294) | $(14,159) |
| Proceeds from sale of marketable equity securities | 8,316 | 23,098 |
| Purchases of marketable equity securities | — | (36,183) |
| Business combinations, net of cash acquired (Note 4) | (375,025) | — |
| Investment in joint venture | — | (95,186) |
| Purchases of capitalized software | (4,635) | — |
| Net cash used in investing activities | $(387,638) | $(122,430) |
| 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 |
| Payment of deferred offering costs | (501) | (8,587) |
| Dividends paid | — | (5,625) |
| Proceeds from revolving credit facility, net of original issue discount | 98,000 | — |
| Proceeds from long-term debt, net of original issue discount | 196,000 | — |
| Proceeds from convertible senior notes, net of initial purchasers' discount | 726,497 | — |
| Payment of deferred financing fees | (1,255) | — |
| Payment of indemnity holdback related to acquisition | — | (813) |
| G-4 Special Payment | — | (2,250) |
| Principal payments on long-term debt | (276,892) | — |
| Prepayment premium on long-term debt | (7,841) | — |
| Purchases of capped call | (41,775) | — |
| Proceeds from issuance of common stock in connection with at-the-market offering, net of commissions | 195,499 | — |
| Net cash provided by financing activities | $887,732 | $494,508 |
| Effect of foreign exchange rates on cash | $(78) | $(13) |
| Net increase in Cash, Cash Equivalents and Restricted Cash | $318,714 | $222,271 |
| Cash, cash equivalents and restricted cash, beginning of period | 341,835 | 166,607 |
| Cash, cash equivalents and restricted cash, end of period | $660,549 | $388,878 |
| Cash, Cash Equivalents and Restricted Cash are Comprised of: | ||
| Cash and cash equivalents | $655,918 | $388,006 |
| Restricted cash and cash equivalents | 4,631 | 872 |
| Total cash, cash equivalents and restricted cash | $660,549 | $388,878 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the year for interest | $37,349 | $20,899 |
| Cash paid for income taxes | $573 | $127 |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental disclosure of noncash investing and financing activities | ||
| Dividends payable | $— | $5,487 |
| Purchases of property and equipment, accrued but not paid | $3,724 | $6,706 |
| Redemption of convertible promissory note | $22,721 | $18,664 |
| Non-voting common stock issued in connection with business combinations | $— | $344 |
| Deferred offering costs, accrued but not yet paid | $320 | $179 |
| Deferred financing fees, accrued but not yet paid | $489 | $— |
| Reclassification of deferred offering costs to additional paid-in capital upon at-the-market offering | $821 | $— |
| Operating lease liabilities arising from obtaining right-of-use assets | $22,670 | $550 |
| 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 |
| Reclassification of deferred offering costs to additional paid-in capital upon initial public offering | $— | $12,347 |
| Class A Common Stock issued in connection with business combinations | $403,154 | $— |
| Class A Common Stock issued in connection with license agreement | $1,443 | $— |
| Issuance of Series G-3 Preferred Stock | $— | $3,809 |
| Issuance of Series G-4 Preferred Stock | $— | $611 |
| Convertible promissory note principal reset due to amendment | $72,488 | $— |
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.