Tempus AI, Inc.
For the period ended Sep 30, 2026. Filed Nov 2, 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.
Sep 30, 2026 · Filed Nov 2, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net loss | $(135,128) | $(190,862) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation | 154,901 | 79,408 |
| Gain on marketable equity securities | (108,939) | (4,731) |
| Loss on disposal of property and equipment | 375 | — |
| Deferred income taxes | — | (46,216) |
| Losses from equity method investments | 8,318 | 2,465 |
| Amortization of original issue discount | 5,008 | 2,615 |
| Amortization of deferred financing fees | 260 | 398 |
| Change in fair value of holdback liability | 1,189 | 291 |
| Loss on debt extinguishment | 11,643 | 12,034 |
| Depreciation and amortization | 78,392 | 75,416 |
| Provision for bad debt expense | 2,450 | 767 |
| Provision for obsolete inventory | 111 | 1,135 |
| Non-cash operating lease costs | 10,296 | 7,866 |
| Minimum accretion expense | 97 | 109 |
| PIK interest added to principal | 1,674 | 8,839 |
| Change in assets and liabilities | ||
| Accounts receivable(1) | (71,839) | (63,199) |
| Inventory | (2,160) | (6,537) |
| Prepaid expenses and other current assets | (6,997) | (3,991) |
| Investments and other assets | 1,883 | (16,700) |
| Accounts payable | (49,250) | (18,528) |
| Related party asset | 7,292 | (25,000) |
| Deferred revenue(2) | (24,107) | 17,398 |
| Deferred other income(3) | (11,966) | (11,966) |
| Accrued data licensing fees | (3,180) | 3,730 |
| Accrued expenses & other | 58,493 | (5,179) |
| Interest payable | 10,360 | 10,288 |
| Operating lease liabilities | (10,762) | (11,152) |
| Net cash used in operating activities | $(71,586) | $(181,302) |
(1) Includes increase in related party accounts receivable from Pathos AI, Inc. of $5,664 and $2,352 for the nine months ended September 30, 2026 and 2025, respectively. Refer to Note 16, Related Parties. Includes increase in related party accounts receivable from SB Tempus Corp. of $145 and $108 for the nine months ended September 30, 2026 and 2025, respectively. Refer to Note 7, Joint Venture.
(2) Includes decrease in related party deferred revenue from Pathos AI, Inc. of $3,835 for the nine months ended September 30, 2026. Includes increase in related party deferred revenue from Pathos AI, Inc. of $19,918 for thenine months ended September 30, 2025, respectively. Refer to Note 16, Related Parties. Also includes decrease in related party deferred revenue from SB Tempus Corp. of $6,235 and $18,737 for thenine months ended September 30, 2026 and 2025, respectively. Refer to Note 7, Joint Venture.
(3)Includes decrease in related party deferred other income from SB Tempus Corp. of $11,966 for each of the nine months ended September 30, 2026 and 2025. Refer to Note 7, Joint Venture.
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Investing activities | ||
| Purchases of property and equipment | $(23,665) | $(16,294) |
| Proceeds from sale of marketable equity securities | — | 8,316 |
| Business combinations, net of cash acquired (Note 4) | (2,763) | (375,025) |
| Capitalized software costs | (12,252) | (4,635) |
| Net cash used in investing activities | $(38,680) | $(387,638) |
| Financing activities | ||
| Proceeds from convertible senior notes, net of initial purchasers' discount | 443,132 | 726,497 |
| Principal payments on long-term debt | (207,717) | (276,892) |
| Principal payments on revolving credit facility | (100,000) | — |
| Prepayment premium on long-term debt | (6,433) | (7,841) |
| Payment of deferred offering costs | (264) | (501) |
| Purchases of capped call | (31,234) | (41,775) |
| 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 issuance of common stock in connection with at-the-market offering, net of commissions | — | 195,499 |
| Payment of deferred financing fees | (1,349) | (1,255) |
| Net cash provided by financing activities | $96,135 | $887,732 |
| Effect of foreign exchange rates on cash | $(86) | $(78) |
| Net (decrease) increase in Cash, Cash Equivalents and Restricted Cash | $(14,217) | $318,714 |
| Cash, cash equivalents and restricted cash, beginning of period | 609,451 | 341,835 |
| Cash, cash equivalents and restricted cash, end of period | $595,234 | $660,549 |
| Cash, Cash Equivalents and Restricted Cash are Comprised of: | ||
| Cash and cash equivalents | $590,479 | $655,918 |
| Restricted cash and cash equivalents | 4,755 | 4,631 |
| Total cash, cash equivalents and restricted cash | $595,234 | $660,549 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the year for interest | $15,111 | $37,349 |
| Cash paid for income taxes | $246 | $573 |
| Preferred stock received on accounts receivable(4) | $17,500 | $— |
(4) Includes related party preferred stock of Pathos AI, Inc. of $17,500 for thenine months ended September 30, 2026.
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental disclosure of noncash investing and financing activities | ||
| Purchases of property and equipment, accrued but not paid | $10,226 | $3,724 |
| Redemption of convertible promissory note | $32,705 | $22,721 |
| Deferred financing fees, accrued but not yet paid | $— | $489 |
| Deferred offering costs, accrued but not yet paid | $71 | $320 |
| 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 | $360 | $22,670 |
| Capitalized software costs, accrued but not yet paid | $21,536 | $— |
| Class A Common Stock issued in connection with business combinations | $13,319 | $403,154 |
| Class A Common Stock issued in connection with license agreement | $— | $1,443 |
| Class A Common Stock issued in connection with holdback liability | $6,173 | $— |
| Convertible promissory note principal reset due to amendment | $— | $72,488 |
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