Tempus AI, Inc.
For the period ended Mar 31, 2026. Filed May 5, 2026.
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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, 2026 · Filed May 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net loss | $(125,919) | $(68,037) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation | 52,706 | 22,974 |
| Loss on marketable equity securities | 32,309 | 31,805 |
| Loss on disposal of property and equipment | 334 | — |
| Deferred income taxes | — | (46,216) |
| Losses from equity method investments | 3,086 | 1,883 |
| Amortization of original issue discount | 1,448 | 560 |
| Amortization of deferred financing fees | 86 | 157 |
| Change in fair value of holdback liability | (1,167) | 46 |
| Depreciation and amortization | 26,175 | 20,353 |
| Provision for bad debt expense | 636 | 316 |
| Provision for obsolete inventory | 225 | — |
| Non-cash operating lease costs | 3,502 | 2,089 |
| Minimum accretion expense | 57 | 248 |
| PIK interest added to principal | 1,674 | 3,274 |
| Change in assets and liabilities | ||
| Accounts receivable(1) | 1,990 | (45,175) |
| Inventory | (332) | (911) |
| Prepaid expenses and other current assets | (2,032) | (5,798) |
| Investments and other assets | 433 | (3,358) |
| Accounts payable | (50,553) | 23,572 |
| Deferred revenue(2) | (19,297) | (12,377) |
| Deferred other income | (3,989) | (3,988) |
| Accrued data licensing fees | (6) | (250) |
| Accrued expenses & other | 5,257 | (27,606) |
| Interest payable | 3,677 | 3,508 |
| Operating lease liabilities | (3,577) | (2,693) |
| Net cash used in operating activities | $(73,277) | $(105,624) |
(1) Includes increase in related party accounts receivable of $9,262 for the three months ended March 31, 2026. Includes decrease in related party accounts receivable of $3,603 for the three months ended March 31, 2025.
(2) Includes decrease in related party deferred revenue of $3,535 for the three months ended March 31, 2026. Includes increase in related party deferred revenue of $300 for the three months ended March 31, 2025.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Investing activities | ||
| Purchases of property and equipment | $(8,202) | $(2,074) |
| Proceeds from sale of marketable equity securities | — | 8,316 |
| Business combinations, net of cash acquired (Note 4) | — | (380,762) |
| Capitalized software costs | (1,865) | (1,298) |
| Net cash used in investing activities | $(10,067) | $(375,818) |
| Financing activities | ||
| Payment of deferred offering costs | (45) | — |
| Proceeds from revolving credit facility, net of original issue discount | — | 98,000 |
| Proceeds from long-term debt, net of original issue discount | — | 196,000 |
| Payment of deferred financing fees | (226) | (958) |
| Net cash (used in) provided by financing activities | $(271) | $293,042 |
| Effect of foreign exchange rates on cash | $28 | $(109) |
| Net decrease in Cash, Cash Equivalents and Restricted Cash | $(83,587) | $(188,509) |
| Cash, cash equivalents and restricted cash, beginning of period | 609,451 | 341,835 |
| Cash, cash equivalents and restricted cash, end of period | $525,864 | $153,326 |
| Cash, Cash Equivalents and Restricted Cash are Comprised of: | ||
| Cash and cash equivalents | $521,170 | $151,603 |
| Restricted cash and cash equivalents | 4,694 | 1,723 |
| Total cash, cash equivalents and restricted cash | $525,864 | $153,326 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the year for interest | $9,322 | $10,849 |
| Cash (received from) paid for income taxes | $(56) | $— |
| Supplemental disclosure of noncash investing and financing activities | ||
| Purchases of property and equipment, accrued but not paid | $4,592 | $7,003 |
| Redemption of convertible promissory note | $9,393 | $7,060 |
| Capitalized software costs, accrued but not yet paid | $2,129 | $— |
| Deferred offering costs, accrued but not yet paid | $100 | $— |
| Class A Common Stock issued in connection with business combinations | $— | $310,320 |
| Convertible promissory note principal reset due to amendment | $— | $72,488 |
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