Tempus Reports Fourth Quarter and Full Year 2024 Results
Tempus AI (NASDAQ: TEM) reported strong Q4 2024 results with revenue increasing 35.8% year-over-year to $200.7 million. The company's Genomics segment generated $120.4 million (+30.6% YoY), while Data and services reached $80.2 million (+44.6% YoY).
Q4 gross profit grew 49.7% to $122.1 million, with net loss improving to ($13.0 million) from ($50.5 million) in Q4 2023. For full year 2024, revenue increased 30.4% to $693.4 million, with Genomics contributing $451.7 million and Data services $241.6 million.
The company completed the Ambry Genetics acquisition on February 3, 2025, and received FDA approval for xT CDx diagnostic device with a $4,500 reimbursement rate. Tempus projects 2025 revenue of $1.24 billion (+79% growth) and expects positive Adjusted EBITDA of $5 million, marking a $110 million improvement over 2024.
Tempus AI (NASDAQ: TEM) ha riportato risultati solidi per il quarto trimestre del 2024, con un aumento del fatturato del 35,8% rispetto all'anno precedente, raggiungendo i 200,7 milioni di dollari. Il segmento Genomics dell'azienda ha generato 120,4 milioni di dollari (+30,6% su base annua), mentre i dati e i servizi hanno raggiunto 80,2 milioni di dollari (+44,6% su base annua).
Il profitto lordo del quarto trimestre è cresciuto del 49,7% a 122,1 milioni di dollari, con una perdita netta migliorata a ($13,0 milioni) rispetto a ($50,5 milioni) nel quarto trimestre del 2023. Per l'intero anno 2024, il fatturato è aumentato del 30,4% a 693,4 milioni di dollari, con Genomics che ha contribuito con 451,7 milioni di dollari e i servizi dati con 241,6 milioni di dollari.
L'azienda ha completato l'acquisizione di Ambry Genetics il 3 febbraio 2025 e ha ricevuto l'approvazione della FDA per il dispositivo diagnostico xT CDx con un tasso di rimborso di 4.500 dollari. Tempus prevede un fatturato per il 2025 di 1,24 miliardi di dollari (+79% di crescita) e si aspetta un EBITDA rettificato positivo di 5 milioni di dollari, segnando un miglioramento di 110 milioni di dollari rispetto al 2024.
Tempus AI (NASDAQ: TEM) reportó resultados sólidos para el cuarto trimestre de 2024, con un aumento del 35.8% en ingresos interanuales, alcanzando los 200.7 millones de dólares. El segmento de Genómica de la compañía generó 120.4 millones de dólares (+30.6% interanual), mientras que los datos y servicios alcanzaron 80.2 millones de dólares (+44.6% interanual).
El beneficio bruto del cuarto trimestre creció un 49.7% a 122.1 millones de dólares, con una pérdida neta mejorada a ($13.0 millones) desde ($50.5 millones) en el cuarto trimestre de 2023. Para el año completo de 2024, los ingresos aumentaron un 30.4% a 693.4 millones de dólares, con Genómica contribuyendo con 451.7 millones de dólares y servicios de datos con 241.6 millones de dólares.
La compañía completó la adquisición de Ambry Genetics el 3 de febrero de 2025 y recibió la aprobación de la FDA para el dispositivo diagnóstico xT CDx con una tasa de reembolso de 4,500 dólares. Tempus proyecta ingresos de 1.24 mil millones de dólares para 2025 (+79% de crecimiento) y espera un EBITDA ajustado positivo de 5 millones de dólares, marcando una mejora de 110 millones de dólares con respecto a 2024.
템퍼스 AI (NASDAQ: TEM)는 2024년 4분기 실적을 발표하며 매출이 전년 대비 35.8% 증가한 2억 7백만 달러에 달했다고 보고했습니다. 회사의 유전체학 부문은 1억 2천4백만 달러(+30.6% YoY)를 기록했으며, 데이터 및 서비스 부문은 8천2백만 달러(+44.6% YoY)에 도달했습니다.
4분기 총 이익은 49.7% 증가하여 1억 2천2백1만 달러에 이르렀고, 순손실은 2023년 4분기의 ($5천50만)에서 ($1천3백만)으로 개선되었습니다. 2024년 전체 연도에 대해 매출은 30.4% 증가하여 6억 9천3백40만 달러에 이르렀으며, 유전체학이 4억 5천1백70만 달러, 데이터 서비스가 2억 4천1백60만 달러를 기여했습니다.
회사는 2025년 2월 3일에 앰브리 유전학 인수를 완료하였으며, 4,500달러의 환급률로 xT CDx 진단 장치에 대한 FDA 승인을 받았습니다. 템퍼스는 2025년 매출을 12억 4천만 달러(+79% 성장)로 예상하고 있으며, 2024년 대비 1억 1천만 달러 개선된 500만 달러의 긍정적인 조정 EBITDA를 기대하고 있습니다.
Tempus AI (NASDAQ: TEM) a annoncé de solides résultats pour le quatrième trimestre 2024, avec un chiffre d'affaires en hausse de 35,8 % par rapport à l'année précédente, atteignant 200,7 millions de dollars. Le segment Génétique de l'entreprise a généré 120,4 millions de dollars (+30,6 % en glissement annuel), tandis que les données et services ont atteint 80,2 millions de dollars (+44,6 % en glissement annuel).
Le bénéfice brut du quatrième trimestre a augmenté de 49,7 % pour atteindre 122,1 millions de dollars, avec une perte nette améliorée à ($13,0 millions) contre ($50,5 millions) au quatrième trimestre 2023. Pour l'année complète 2024, le chiffre d'affaires a augmenté de 30,4 % pour atteindre 693,4 millions de dollars, avec la Génétique contribuant à 451,7 millions de dollars et les services de données à 241,6 millions de dollars.
L'entreprise a finalisé l'acquisition d'Ambry Genetics le 3 février 2025 et a reçu l'approbation de la FDA pour le dispositif de diagnostic xT CDx avec un taux de remboursement de 4 500 dollars. Tempus prévoit un chiffre d'affaires de 1,24 milliard de dollars pour 2025 (+79 % de croissance) et s'attend à un EBITDA ajusté positif de 5 millions de dollars, marquant une amélioration de 110 millions de dollars par rapport à 2024.
Tempus AI (NASDAQ: TEM) berichtete von starken Ergebnissen im 4. Quartal 2024, mit einem Umsatzanstieg von 35,8% im Jahresvergleich auf 200,7 Millionen Dollar. Das Genomik-Segment des Unternehmens erzielte 120,4 Millionen Dollar (+30,6% im Jahresvergleich), während Daten und Dienstleistungen 80,2 Millionen Dollar (+44,6% im Jahresvergleich) erreichten.
Der Bruttogewinn im 4. Quartal wuchs um 49,7% auf 122,1 Millionen Dollar, während sich der Nettoverlust auf ($13,0 Millionen) von ($50,5 Millionen) im 4. Quartal 2023 verbesserte. Für das gesamte Jahr 2024 stieg der Umsatz um 30,4% auf 693,4 Millionen Dollar, wobei Genomik 451,7 Millionen Dollar und Datenservices 241,6 Millionen Dollar beitrugen.
Das Unternehmen schloss die Übernahme von Ambry Genetics am 3. Februar 2025 ab und erhielt die FDA-Zulassung für das diagnostische Gerät xT CDx mit einem Erstattungsbetrag von 4.500 Dollar. Tempus prognostiziert für 2025 einen Umsatz von 1,24 Milliarden Dollar (+79% Wachstum) und erwartet ein positives bereinigtes EBITDA von 5 Millionen Dollar, was eine Verbesserung um 110 Millionen Dollar im Vergleich zu 2024 darstellt.
- Revenue growth accelerated to 35.8% YoY in Q4 2024
- Gross profit increased 49.7% in Q4 2024
- Net revenue retention improved to 140%
- Total Remaining Contract Value reached $940 million
- FDA approval for xT CDx with $4,500 reimbursement rate
- Projected 79% revenue growth for 2025
- Expected positive Adjusted EBITDA of $5 million in 2025
- Net loss of $705.8 million in 2024
- Q4 2024 Adjusted EBITDA still negative at ($7.8 million)
- High stock compensation expense of $547.7 million in 2024
Insights
The Q4 2024 results reveal Tempus's impressive execution in transforming precision medicine through AI, with several key developments signaling a robust growth trajectory. The acceleration of revenue growth to
The
The strategic acquisition of Ambry Genetics, coupled with the FDA approval of xT CDx test and its favorable
The company's progression toward profitability is particularly impressive, with net losses narrowing significantly from
The expansion to ~3,000 U.S. providers and growing insurance network partnerships create a robust foundation for sustained growth. The 2025 revenue guidance of
-
Year-over-year revenue growth accelerated to
35.8% in the fourth quarter of 2024 -
Gross profit growth accelerated to
49.7% in the fourth quarter of 2024, led by Data and services -
Ended the year with
$940 million 140% net revenue retention - Closed the acquisition of Ambry Genetics on February 3, 2025
-
Increases revenue guidance to
$1.24 billion $5 million $110 million
“Our performance in 2024 reflects the strength of our core businesses, as Genomics continued to show strong volume growth and our Data business delivered record results throughout the year,” said Eric Lefkofsky, Founder and CEO of Tempus. “We believe our investments in AI have positioned us well for the future, as technologies that seemed unimaginable a few short years ago increasingly allow us to make our diagnostics intelligent, helping patients live longer and healthier lives. We remain on track to achieve our key financial milestones, with expected robust revenue growth and positive Adjusted EBITDA in 2025.”
Fourth Quarter Summary Results
-
Quarterly revenue increased
35.8% year-over-year to$200.7 million -
Genomics generated
$120.4 million 30.6% year-over-year growth, with unit growth of22.5% year-over-year. -
Data and services generated
$80.2 million 44.6% year-over-year growth.
-
Genomics generated
-
Quarterly gross profit increased
49.7% to$122.1 million -
Net loss of (
$13.0 million $32.4 million $50.5 million $75.8 million -
Adjusted EBITDA improved to (
$7.8 million $35.1 million $21.8 million
Full Year 2024 Summary Results
-
Annual Revenue increased
30.4% year-over-year to$693.4 million -
Genomics generated
$451.7 million 24.4% year-over-year growth, with unit growth of23.8% year-over-year. -
Data and services generated
$241.6 million 43.2% year-over-year growth. -
Ended the year with
$940 million 140% .
-
Genomics generated
-
Annual gross profit increased to
$381.1 million 33.2% growth year-over-year. -
Net loss of (
$705.8 million $547.7 million -
Adjusted EBITDA improved
$49.5 million $104.7 million
Fourth Quarter 2024 and Recent Operational Highlights
- Completed the acquisition of Ambry Genetics on February 3, 2025.
-
Announced the national launch of the Company’s FDA-approved, NGS-based in vitro diagnostic device, xT CDx which was granted ADLT status and a reimbursement rate of
$4,500 -
Announced the impact of a decision by the Centers for Medicare and Medicaid Services (CMS) that will allow reimbursement for cardiac dysfunction assessments using the Tempus ECG-AF algorithm, currently paying
$138 -
Signed agreements for in-network provider status with Blue Cross Blue Shield of
Illinois , Blue Shield ofCalifornia , and Avalon Healthcare Solutions. -
Grew our network and are now connected to ~3,000 providers in the
U.S.
Fourth Quarter and Full Year 2024 Financial Results
|
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Three Months Ended
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|
|
Year Ended
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(in thousands, except percentages and per share amounts) |
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(unaudited) |
|
|||||
GAAP Results |
|
|
|
|
|
|
||
Revenue |
|
$ |
200,680 |
|
|
$ |
693,398 |
|
Year-over-year growth |
|
|
35.8 |
% |
|
|
30.4 |
% |
Gross Profit |
|
$ |
122,064 |
|
|
$ |
381,113 |
|
Loss from operations |
|
$ |
(50,700 |
) |
|
$ |
(691,082 |
) |
Net loss |
|
$ |
(13,014 |
) |
|
$ |
(705,809 |
) |
Adjusted EBITDA |
|
$ |
(7,752 |
) |
|
$ |
(104,707 |
) |
Net loss per share attributable to common shareholders, basic and diluted |
|
$ |
(0.08 |
) |
|
$ |
(6.23 |
) |
Non-GAAP net loss per share |
|
$ |
(0.18 |
) |
|
$ |
(1.58 |
) |
Financial Guidance and 2025 Outlook
Tempus now expects full year 2025 revenue of approximately
For additional information on the quarter and full year, including a letter from our CEO and CFO, please visit our investor relations site investors.tempus.com.
Webcast and Conference Call Information
A conference call and webcast will begin today, February 24, 2025 after market close at 4:30 p.m. Eastern Time. Interested parties may access details at:
Conference ID: 9601821
Domestic Dial-in Number: (888)-596-4144
International Dial-in Number: (646)-968-2525
Live Webcast: https://edge.media-server.com/mmc/p/6qbep94p/
The webcast may be accessed on the company’s investor relations website at investors.tempus.com. For those unable to listen to the live webcast, a recording will be made available on the company’s website after the event and will be accessible for one year. Visit the investor relations website to find the company’s latest deck, and commentary on the quarter and year by Eric Lefkofsky, Founder and CEO and Jim Rogers, CFO, which will be discussed on the conference call and webcast.
About Tempus
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world’s largest libraries of multimodal data, and an operating system to make that data accessible and useful, Tempus provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com.
Non-GAAP Financial Measures
In addition to the financial information presented in this release in accordance with accounting principles generally accepted in
Non-GAAP gross profit is defined as GAAP gross profit, excluding stock-based compensation expense and employer payroll tax related to stock-based compensation (collectively, the “stock-based compensation adjustments”). Non-GAAP gross margin is defined as gross profit, excluding the stock-based compensation adjustments, as a percentage of revenue. Non-GAAP operating expenses are calculated as the sum of technology research and development expense, research and development expense, and selling, general and administrative expense, excluding the stock-based compensation adjustments. Non-GAAP net income (loss) is defined as net income (loss), adjusted to exclude (i) losses on equity method investments, (ii) changes in fair value of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities and indemnity-related holdback liabilities, (iii) the payment of
EBITDA is defined as net income (loss), adjusted to exclude (i) interest income, (ii) interest expense, (iii) depreciation and amortization, and (iv) provision for income taxes. Adjusted EBITDA is defined as net income (loss), adjusted to exclude (i) interest income, (ii) interest expense, (iii) depreciation and amortization, (iv) provision for (benefit from) income taxes, (v) losses on equity method investments, (vi) changes in fair value of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities and indemnity-related holdback liabilities, (vii) stock-based compensation expense, (viii) employer payroll tax related to stock-based compensation expense, (ix) the G-4 Special Payment, (x) amortization of deferred other income from our IP License Agreement with SB Tempus, (xi) the settlement of certain historical and potential future disputes, and (xii) acquisition related expenses.
Tempus believes these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and they may be used by institutional investors and the analyst community to help them analyze the health of Tempus’ business. In particular, Adjusted EBITDA is a key measurement used by Tempus management to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures.
Tempus does not provide guidance for net loss, the most directly comparable GAAP measure to EBITDA and Adjusted EBITDA, and similarly cannot provide a reconciliation between Tempus’ forecasted Adjusted EBITDA and net loss without unreasonable effort due to the unavailability of reliable estimates for certain components of net income (loss) and the respective reconciliations. These forecasted items are not within Tempus’ control, may vary greatly between periods, and could significantly impact future financial results.
Other Key Metrics
Total Remaining Contract Value (TCV) is equal to the total potential value of signed contracts and assumes the exercise of all contract options, all discretionary opt-ins, and no early termination. Remaining TCV excludes any revenue recognized to date on these contracts or any future adjustments made to the contractual value as a result of amendments or terminations.
Net Revenue Retention compares the annual Insights product revenue generated from all customers that made an Insights purchase in one year to the annual Insights product revenue generated from the same cohort of customers in the subsequent year.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, about Tempus and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements, including, but not limited to, Tempus’ expected financial results for full year 2025; whether investments in AI have positioned Tempus well for the future; and the ability of Tempus’ diagnostics to help patients live longer and healthier lives. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “going to,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Tempus cautions you that the foregoing may not include all of the forward-looking statements made in this press release.
You should not rely on forward-looking statements as predictions of future events. Tempus has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends that it believes may affect Tempus’ business, financial condition, results of operations and prospects. These forward-looking statements are subject to risks and uncertainties related to: the intended use of Tempus’ products and services; Tempus’ financial performance; the ability to attract and retain customers and partners; managing Tempus’ growth and future expenses; competition and new market entrants; compliance with new laws, regulations and executive actions, including any evolving regulations in the artificial intelligence space; the ability to maintain, protect and enhance Tempus’ intellectual property; the ability to attract and retain qualified team members and key personnel; the ability to repay or refinance outstanding debt, or to access additional financing; future acquisitions, divestitures or investments, including Tempus’ ability to realize the expected benefits of the acquisition of Ambry Genetics; the potential adverse impact of climate change, natural disasters, health epidemics, macroeconomic conditions, and war or other armed conflict, as well as risks, uncertainties, and other factors described in the section titled “Risk Factors” in Tempus’ Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on February 24, 2025, as well as in other filings Tempus may make with the SEC in the future. In addition, any forward-looking statements contained in this press release are based on assumptions that Tempus believes to be reasonable as of this date. Tempus undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Tempus AI, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except per share amounts) |
|||||||||||
|
Year Ended December 31, |
|
|||||||||
|
2024 |
|
|
2023 |
|
|
2022 |
|
|||
Net revenue |
|
|
|
|
|
|
|
|
|||
Genomics |
$ |
451,749 |
|
|
$ |
363,022 |
|
|
$ |
197,984 |
|
Data and services |
|
241,649 |
|
|
|
168,800 |
|
|
|
122,684 |
|
Total net revenue |
$ |
693,398 |
|
|
$ |
531,822 |
|
|
$ |
320,668 |
|
Cost and operating expenses |
|
|
|
|
|
|
|
|
|||
Cost of revenues, genomics |
|
243,467 |
|
|
|
189,165 |
|
|
|
150,255 |
|
Cost of revenues, data and services |
|
68,818 |
|
|
|
56,482 |
|
|
|
40,227 |
|
Technology research and development |
|
167,519 |
|
|
|
95,155 |
|
|
|
79,093 |
|
Research and development |
|
149,325 |
|
|
|
90,343 |
|
|
|
83,158 |
|
Selling, general and administrative |
|
755,351 |
|
|
|
296,760 |
|
|
|
233,377 |
|
Total cost and operating expenses |
|
1,384,480 |
|
|
|
727,905 |
|
|
|
586,110 |
|
Loss from operations |
$ |
(691,082 |
) |
|
$ |
(196,083 |
) |
|
$ |
(265,442 |
) |
Interest income |
|
11,084 |
|
|
|
7,601 |
|
|
|
3,032 |
|
Interest expense |
|
(53,653 |
) |
|
|
(46,869 |
) |
|
|
(21,894 |
) |
Other income (expense), net |
|
32,336 |
|
|
|
21,822 |
|
|
|
(4,846 |
) |
Loss before provision for income taxes |
$ |
(701,315 |
) |
|
$ |
(213,529 |
) |
|
$ |
(289,150 |
) |
Provision for income taxes |
|
(266 |
) |
|
|
(288 |
) |
|
|
(66 |
) |
Losses from equity method investments |
|
(4,228 |
) |
|
|
(301 |
) |
|
|
(595 |
) |
Net Loss |
$ |
(705,809 |
) |
|
$ |
(214,118 |
) |
|
$ |
(289,811 |
) |
Accretion of convertible preferred stock to redemption value |
|
— |
|
|
|
(4,338 |
) |
|
|
(301 |
) |
Dividends on Series A, B, B-1, B-2, C, D, E, F, G, G-3, and G-4 preferred shares |
|
(39,347 |
) |
|
|
(44,497 |
) |
|
|
(40,975 |
) |
Cumulative undeclared dividends on Series C preferred shares |
|
(1,174 |
) |
|
|
(3,011 |
) |
|
|
(2,841 |
) |
Net loss attributable to common shareholders, basic and diluted |
|
(746,330 |
) |
|
|
(265,964 |
) |
|
|
(333,928 |
) |
Net loss per share attributable to common shareholders, basic and diluted |
$ |
(6.23 |
) |
|
$ |
(4.20 |
) |
|
$ |
(5.30 |
) |
Weighted-average shares outstanding used to compute net loss per share, basic and diluted |
|
119,849 |
|
|
|
63,306 |
|
|
|
63,032 |
|
Comprehensive Loss, net of tax |
|
|
|
|
|
|
|
|
|||
Net loss |
$ |
(705,809 |
) |
|
$ |
(214,118 |
) |
|
$ |
(289,811 |
) |
Foreign currency translation adjustment |
|
89 |
|
|
|
(13 |
) |
|
|
29 |
|
Comprehensive loss |
$ |
(705,720 |
) |
|
$ |
(214,131 |
) |
|
$ |
(289,782 |
) |
Tempus AI, Inc. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) |
||||||||
|
|
December 31,
|
|
|
December 31,
|
|
||
Assets |
|
|
|
|
|
|
||
Current Assets |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
340,954 |
|
|
$ |
165,767 |
|
Accounts receivable, net of allowances of |
|
|
154,819 |
|
|
|
94,462 |
|
Inventory |
|
|
38,386 |
|
|
|
28,845 |
|
Warrant asset |
|
|
— |
|
|
|
5,070 |
|
Prepaid expenses and other current assets |
|
|
26,135 |
|
|
|
17,295 |
|
Marketable equity securities |
|
|
107,309 |
|
|
|
31,807 |
|
Deferred offering costs |
|
|
— |
|
|
|
7,085 |
|
Total current assets |
|
$ |
667,603 |
|
|
$ |
350,331 |
|
Property and equipment, net |
|
|
58,056 |
|
|
|
61,681 |
|
Goodwill |
|
|
73,343 |
|
|
|
73,354 |
|
Warrant asset, less current portion |
|
|
— |
|
|
|
4,930 |
|
Intangible assets, net |
|
|
11,716 |
|
|
|
21,916 |
|
Investments and other assets |
|
|
8,305 |
|
|
|
8,971 |
|
Investment in joint venture |
|
|
91,450 |
|
|
|
— |
|
Warrant contract asset, less current portion |
|
|
— |
|
|
|
21,499 |
|
Operating lease right-of-use assets |
|
|
14,762 |
|
|
|
20,530 |
|
Restricted cash |
|
|
881 |
|
|
|
840 |
|
Total Assets |
|
$ |
926,116 |
|
|
$ |
564,052 |
|
|
|
|
|
|
|
|
||
Liabilities, Convertible redeemable preferred stock, and Stockholders' equity (deficit) |
|
|
|
|
|
|
||
Current Liabilities |
|
|
|
|
|
|
||
Accounts payable |
|
|
53,804 |
|
|
|
54,421 |
|
Accrued expenses |
|
|
130,407 |
|
|
|
82,517 |
|
Deferred revenue |
|
|
75,981 |
|
|
|
64,860 |
|
Deferred other income |
|
|
15,955 |
|
|
|
— |
|
Other current liabilities |
|
|
6,964 |
|
|
|
8,213 |
|
Operating lease liabilities |
|
|
6,459 |
|
|
|
6,437 |
|
Accrued data licensing fees |
|
|
1,500 |
|
|
|
6,382 |
|
Accrued dividends |
|
|
— |
|
|
|
9,797 |
|
Total current liabilities |
|
$ |
291,070 |
|
|
$ |
232,627 |
|
Operating lease liabilities, less current portion |
|
|
26,199 |
|
|
|
32,040 |
|
Convertible promissory note |
|
|
168,192 |
|
|
|
193,124 |
|
Warrant liability |
|
|
— |
|
|
|
34,500 |
|
Other long-term liabilities |
|
|
15,980 |
|
|
|
19,751 |
|
Interest payable |
|
|
70,450 |
|
|
|
55,321 |
|
Long-term debt, net |
|
|
267,244 |
|
|
|
256,541 |
|
Deferred other income, less current portion |
|
|
23,932 |
|
|
|
— |
|
Deferred revenue, less current portion |
|
|
6,710 |
|
|
|
16,768 |
|
Total Liabilities |
|
$ |
869,777 |
|
|
$ |
840,672 |
|
Commitments and contingencies (Note 7) |
|
|
|
|
|
|
||
Convertible redeemable preferred stock, |
|
|
— |
|
|
|
1,105,543 |
|
|
|
|
|
|
|
|
||
Stockholders' equity (deficit) |
|
|
|
|
|
|
||
Class A Voting Common Stock, |
|
|
16 |
|
|
$ |
6 |
|
Class B Voting Common Stock, |
|
|
1 |
|
|
|
— |
|
Non-voting Common Stock, |
|
|
— |
|
|
|
0 |
|
Treasury Stock, 145,466 shares at December 31, 2024 and December 31, 2023, at cost |
|
|
(3,602 |
) |
|
|
(3,602 |
) |
Additional Paid-In Capital |
|
|
2,210,664 |
|
|
|
18,345 |
|
Accumulated Other Comprehensive Income |
|
|
94 |
|
|
|
5 |
|
Accumulated deficit |
|
|
(2,150,834 |
) |
|
|
(1,396,917 |
) |
Total Stockholders' equity (deficit) |
|
$ |
56,339 |
|
|
$ |
(1,382,163 |
) |
Total Liabilities, Convertible redeemable preferred stock,
|
|
$ |
926,116 |
|
|
$ |
564,052 |
|
Tempus AI, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, except per share amounts) |
|||||||||||
|
Year Ended December 31, |
|
|||||||||
|
2024 |
|
|
2023 |
|
|
2022 |
|
|||
Operating activities |
|
|
|
|
|
|
|
|
|||
Net loss |
$ |
(705,809 |
) |
|
$ |
(214,118 |
) |
|
$ |
(289,811 |
) |
Adjustments to reconcile net loss to net cash used in operating activities |
|
|
|
|
|
|
|
|
|||
Change in fair value of warrant liability |
$ |
42,400 |
|
|
$ |
(8,000 |
) |
|
$ |
4,700 |
|
Gain on warrant termination |
|
(39,100 |
) |
|
|
— |
|
|
|
— |
|
Reversal of warrant contract asset amortization |
|
(16,301 |
) |
|
|
— |
|
|
|
— |
|
Gain on warrant exercise |
|
(173 |
) |
|
|
— |
|
|
|
— |
|
Stock-based compensation |
|
534,138 |
|
|
|
— |
|
|
|
— |
|
Amortization of warrant contract asset |
|
4,843 |
|
|
|
5,221 |
|
|
|
4,720 |
|
Change in fair value of warrant asset |
|
(18,302 |
) |
|
|
(4,100 |
) |
|
|
— |
|
Gain on marketable equity securities |
|
(12,110 |
) |
|
|
(9,807 |
) |
|
|
— |
|
Losses from equity method investments |
|
4,228 |
|
|
|
301 |
|
|
|
595 |
|
Amortization of original issue discount |
|
1,382 |
|
|
|
1,117 |
|
|
|
238 |
|
Amortization of deferred financing fees |
|
510 |
|
|
|
510 |
|
|
|
139 |
|
Change in fair value of contingent consideration |
|
72 |
|
|
|
(400 |
) |
|
|
(3,701 |
) |
Depreciation and amortization |
|
37,245 |
|
|
|
33,049 |
|
|
|
30,029 |
|
Provision for bad debt expense |
|
680 |
|
|
|
1,646 |
|
|
|
3,867 |
|
Provision for obsolete inventory |
|
— |
|
|
|
— |
|
|
|
1,938 |
|
Amortization of finance right-of-use lease assets |
|
— |
|
|
|
283 |
|
|
|
381 |
|
Non-cash operating lease costs |
|
6,047 |
|
|
|
6,760 |
|
|
|
6,427 |
|
Minimum accretion expense |
|
197 |
|
|
|
90 |
|
|
|
455 |
|
Impairment of intangible assets |
|
— |
|
|
|
7,359 |
|
|
|
— |
|
PIK interest added to principal |
|
8,811 |
|
|
|
3,587 |
|
|
|
— |
|
Change in assets and liabilities |
|
|
|
|
|
|
|
|
|||
Accounts receivable |
|
(61,037 |
) |
|
|
(7,347 |
) |
|
|
(8,203 |
) |
Inventory |
|
(9,541 |
) |
|
|
(6,563 |
) |
|
|
(1,312 |
) |
Prepaid expenses and other current assets |
|
(13,683 |
) |
|
|
(6,474 |
) |
|
|
(1,094 |
) |
Investments and other assets |
|
(751 |
) |
|
|
(4,209 |
) |
|
|
(2,296 |
) |
Accounts payable |
|
(23,852 |
) |
|
|
(23,363 |
) |
|
|
(7,915 |
) |
Deferred revenue |
|
(20,942 |
) |
|
|
(26,412 |
) |
|
|
67,626 |
|
Deferred other income |
|
39,887 |
|
|
|
— |
|
|
|
— |
|
Accrued data licensing fees |
|
(5,000 |
) |
|
|
(9,121 |
) |
|
|
(6,746 |
) |
Accrued expenses & other |
|
50,540 |
|
|
|
38,577 |
|
|
|
22,803 |
|
Interest payable |
|
15,129 |
|
|
|
15,836 |
|
|
|
16,395 |
|
Operating lease liabilities |
|
(8,553 |
) |
|
|
(8,761 |
) |
|
|
(7,439 |
) |
Net cash used in operating activities |
$ |
(189,045 |
) |
|
$ |
(214,339 |
) |
|
$ |
(168,204 |
) |
|
|
|
|
|
|
|
|
|
|||
Investing activities |
|
|
|
|
|
|
|
|
|||
Purchases of property and equipment |
$ |
(22,121 |
) |
|
$ |
(34,608 |
) |
|
$ |
(18,377 |
) |
Proceeds from sale of marketable equity securities |
|
23,098 |
|
|
|
— |
|
|
|
— |
|
Purchases of marketable equity securities |
|
(36,183 |
) |
|
|
— |
|
|
|
— |
|
Business combinations, net of cash acquired (Note 3) |
|
— |
|
|
|
(5,705 |
) |
|
|
(39,562 |
) |
Investment in joint venture |
|
(95,186 |
) |
|
|
— |
|
|
|
— |
|
Net cash used in investing activities |
$ |
(130,392 |
) |
|
$ |
(40,313 |
) |
|
$ |
(57,939 |
) |
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-3 Preferred Stock, net of offering costs |
|
— |
|
|
|
— |
|
|
|
92,199 |
|
Issuance of Series G-4 Preferred Stock, net of offering costs |
|
— |
|
|
|
44,885 |
|
|
|
— |
|
Issuance of Series G-5 Preferred Stock |
|
199,750 |
|
|
|
— |
|
|
|
— |
|
Principal payments on finance lease liabilities |
|
— |
|
|
|
(288 |
) |
|
|
(375 |
) |
Purchase of treasury stock |
|
— |
|
|
|
(3,602 |
) |
|
|
— |
|
Payment of deferred offering costs |
|
(8,766 |
) |
|
|
(698 |
) |
|
|
(2,883 |
) |
Payment of deferred financing fees |
|
— |
|
|
|
— |
|
|
|
(2,550 |
) |
Dividends paid |
|
(5,625 |
) |
|
|
(5,625 |
) |
|
|
(5,625 |
) |
Proceeds from long-term debt, net of original issue discount |
|
— |
|
|
|
82,875 |
|
|
|
170,625 |
|
Payment of indemnity holdback related to acquisition |
|
(813 |
) |
|
|
— |
|
|
|
— |
|
G-4 Special Payment |
|
(2,250 |
) |
|
|
— |
|
|
|
— |
|
Net cash provided by financing activities |
$ |
494,329 |
|
|
$ |
117,547 |
|
|
$ |
251,391 |
|
Effect of foreign exchange rates on cash |
$ |
336 |
|
|
$ |
(19 |
) |
|
$ |
17 |
|
|
|
|
|
|
|
|
|
|
|||
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash |
$ |
175,228 |
|
|
$ |
(137,124 |
) |
|
$ |
25,265 |
|
Cash, cash equivalents and restricted cash, beginning of period |
|
166,607 |
|
|
|
303,731 |
|
|
|
278,466 |
|
Cash, cash equivalents and restricted cash, end of period |
$ |
341,835 |
|
|
$ |
166,607 |
|
|
$ |
303,731 |
|
|
|
|
|
|
|
|
|
|
|||
Cash, Cash Equivalents and Restricted Cash are Comprised of: |
|
|
|
|
|
|
|
|
|||
Cash and cash equivalents |
$ |
340,954 |
|
|
$ |
165,767 |
|
|
$ |
302,938 |
|
Restricted cash |
|
881 |
|
|
|
840 |
|
|
|
793 |
|
Total cash, cash equivalents and restricted cash |
$ |
341,835 |
|
|
$ |
166,607 |
|
|
$ |
303,731 |
|
|
|
|
|
|
|
|
|
|
|||
Supplemental disclosure of cash flow information |
|
|
|
|
|
|
|
|
|||
Cash paid during the year for interest |
$ |
28,045 |
|
|
$ |
16,913 |
|
|
$ |
4,664 |
|
Cash paid for income taxes |
$ |
206 |
|
|
$ |
161 |
|
|
$ |
6 |
|
Marketable equity securities received on accounts receivable |
$ |
22,000 |
|
|
$ |
22,000 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|||
Supplemental disclosure of noncash investing and financing activities |
|
|
|
|
|
|
|
|
|||
Dividends payable |
$ |
5,487 |
|
|
$ |
12,535 |
|
|
$ |
5,625 |
|
Purchases of property and equipment, accrued but not paid |
$ |
4,292 |
|
|
$ |
6,137 |
|
|
$ |
2,408 |
|
Deferred offering costs, accrued but not yet paid |
$ |
— |
|
|
$ |
3,504 |
|
|
$ |
2,391 |
|
Redemption of convertible promissory note |
$ |
24,932 |
|
|
$ |
27,970 |
|
|
$ |
17,142 |
|
Non-voting common stock issued in connection with business combinations |
$ |
344 |
|
|
$ |
9,209 |
|
|
$ |
4,947 |
|
Non-voting common stock issued in connection with contingent consideration |
$ |
— |
|
|
$ |
— |
|
|
$ |
4,304 |
|
Accretion of convertible preferred stock to redemption value |
$ |
— |
|
|
$ |
4,338 |
|
|
$ |
301 |
|
Operating lease liabilities arising from obtaining right-of-use assets |
$ |
1,997 |
|
|
$ |
1,097 |
|
|
$ |
41,815 |
|
Finance lease liabilities arising from obtaining right-of-use-assets |
$ |
— |
|
|
$ |
— |
|
|
$ |
664 |
|
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 |
$ |
20 |
|
|
$ |
— |
|
|
$ |
— |
|
Reclassification 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 warrant |
$ |
— |
|
|
$ |
4,223 |
|
|
$ |
— |
|
Issuance of Series G-4 Preferred Stock |
$ |
611 |
|
|
$ |
— |
|
|
$ |
— |
|
Issuance of common stock in connection with contingent consideration |
$ |
847 |
|
|
$ |
— |
|
|
$ |
— |
|
Tempus AI, Inc. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited) (in thousands, except percentages and per share amounts) |
||||||||||||||||
Genomics Gross Profit & Gross Margin |
||||||||||||||||
|
|
Three Months Ended December 31, |
|
|
Year Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Genomics revenue |
|
$ |
120,434 |
|
|
$ |
92,225 |
|
|
$ |
451,749 |
|
|
$ |
363,022 |
|
Cost of revenues, genomics |
|
|
62,182 |
|
|
|
50,384 |
|
|
|
243,467 |
|
|
|
189,165 |
|
Gross profit, genomics |
|
$ |
58,252 |
|
|
$ |
41,841 |
|
|
$ |
208,282 |
|
|
$ |
173,857 |
|
Stock-based compensation expense |
|
|
1,215 |
|
|
|
— |
|
|
|
13,625 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
293 |
|
|
|
— |
|
|
|
455 |
|
|
|
— |
|
Non-GAAP gross profit, genomics |
|
$ |
59,760 |
|
|
$ |
41,841 |
|
|
$ |
222,362 |
|
|
$ |
173,857 |
|
Genomics gross margin |
|
|
48.4 |
% |
|
|
45.4 |
% |
|
|
46.1 |
% |
|
|
47.9 |
% |
Stock-based compensation expense |
|
|
1.0 |
% |
|
|
0.0 |
% |
|
|
3.0 |
% |
|
|
0.0 |
% |
Employer payroll tax related to stock-based compensation |
|
|
0.2 |
% |
|
|
0.0 |
% |
|
|
0.1 |
% |
|
|
0.0 |
% |
Non-GAAP gross margin, genomics |
|
|
49.6 |
% |
|
|
45.4 |
% |
|
|
49.2 |
% |
|
|
47.9 |
% |
Data and Services Gross Profit & Gross Margin |
||||||||||||||||
|
|
Three Months Ended December 31, |
|
|
Year Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Data and services revenue |
|
$ |
80,246 |
|
|
$ |
55,499 |
|
|
$ |
241,649 |
|
|
$ |
168,800 |
|
Cost of revenues, data and services |
|
|
16,434 |
|
|
|
15,792 |
|
|
|
68,818 |
|
|
|
56,482 |
|
Gross profit, data and services |
|
$ |
63,812 |
|
|
$ |
39,707 |
|
|
$ |
172,831 |
|
|
$ |
112,318 |
|
Stock-based compensation expense |
|
|
385 |
|
|
|
— |
|
|
|
8,530 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
202 |
|
|
|
— |
|
|
|
364 |
|
|
|
— |
|
Non-GAAP gross profit, data and services |
|
$ |
64,399 |
|
|
$ |
39,707 |
|
|
$ |
181,725 |
|
|
$ |
112,318 |
|
Gross margin, data and services |
|
|
79.5 |
% |
|
|
71.5 |
% |
|
|
71.5 |
% |
|
|
66.5 |
% |
Stock-based compensation expense |
|
|
0.5 |
% |
|
|
0.0 |
% |
|
|
3.5 |
% |
|
|
0.0 |
% |
Employer payroll tax related to stock-based compensation |
|
|
0.3 |
% |
|
|
0.0 |
% |
|
|
0.2 |
% |
|
|
0.0 |
% |
Non-GAAP gross margin, data and services |
|
|
80.3 |
% |
|
|
71.5 |
% |
|
|
75.2 |
% |
|
|
66.5 |
% |
Total Gross Profit & Gross Margin |
||||||||||||||||
|
|
Three Months Ended December 31, |
|
|
Year Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net revenue |
|
$ |
200,680 |
|
|
$ |
147,724 |
|
|
$ |
693,398 |
|
|
$ |
531,822 |
|
Cost of revenues |
|
|
78,616 |
|
|
|
66,176 |
|
|
|
312,285 |
|
|
|
245,647 |
|
Gross profit |
|
$ |
122,064 |
|
|
$ |
81,548 |
|
|
$ |
381,113 |
|
|
$ |
286,175 |
|
Stock-based compensation expense |
|
|
1,600 |
|
|
|
— |
|
|
|
22,155 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
495 |
|
|
|
— |
|
|
|
819 |
|
|
|
— |
|
Non-GAAP gross profit |
|
$ |
124,159 |
|
|
$ |
81,548 |
|
|
$ |
404,087 |
|
|
$ |
286,175 |
|
Gross margin |
|
|
60.8 |
% |
|
|
55.2 |
% |
|
|
55.0 |
% |
|
|
53.8 |
% |
Stock-based compensation expense |
|
|
0.8 |
% |
|
|
0.0 |
% |
|
|
3.2 |
% |
|
|
0.0 |
% |
Employer payroll tax related to stock-based compensation |
|
|
0.2 |
% |
|
|
0.0 |
% |
|
|
0.1 |
% |
|
|
0.0 |
% |
Non-GAAP gross margin |
|
|
61.9 |
% |
|
|
55.2 |
% |
|
|
58.3 |
% |
|
|
53.8 |
% |
Operating Expenses |
||||||||||||||||
|
|
Three Months Ended December 31, |
|
|
Year Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Technology research and development |
|
$ |
31,864 |
|
|
$ |
24,670 |
|
|
$ |
167,519 |
|
|
$ |
95,155 |
|
Stock-based compensation expense |
|
|
4,110 |
|
|
|
— |
|
|
|
58,473 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
1,306 |
|
|
|
— |
|
|
|
2,747 |
|
|
|
— |
|
Non-GAAP technology research and development |
|
$ |
26,448 |
|
|
$ |
24,670 |
|
|
$ |
106,299 |
|
|
$ |
95,155 |
|
Research and development |
|
$ |
29,612 |
|
|
$ |
24,075 |
|
|
$ |
149,325 |
|
|
$ |
90,343 |
|
Stock-based compensation expense |
|
|
2,851 |
|
|
|
— |
|
|
|
47,638 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
756 |
|
|
|
— |
|
|
|
1,566 |
|
|
|
— |
|
Non-GAAP research and development |
|
$ |
26,005 |
|
|
$ |
24,075 |
|
|
$ |
100,121 |
|
|
$ |
90,343 |
|
Selling, general and administrative |
|
$ |
111,288 |
|
|
$ |
85,098 |
|
|
$ |
755,351 |
|
|
$ |
296,760 |
|
Stock-based compensation expense |
|
|
16,226 |
|
|
|
— |
|
|
|
405,872 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
5,023 |
|
|
|
— |
|
|
|
8,411 |
|
|
|
— |
|
Non-GAAP selling, general and administrative |
|
$ |
90,039 |
|
|
$ |
85,098 |
|
|
$ |
341,068 |
|
|
$ |
296,760 |
|
Operating expenses |
|
$ |
172,764 |
|
|
$ |
133,843 |
|
|
$ |
1,072,195 |
|
|
$ |
482,258 |
|
Stock-based compensation expense |
|
|
23,187 |
|
|
|
— |
|
|
|
511,983 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
7,085 |
|
|
|
— |
|
|
|
12,724 |
|
|
|
— |
|
Non-GAAP operating expenses |
|
$ |
142,492 |
|
|
$ |
133,843 |
|
|
$ |
547,488 |
|
|
$ |
482,258 |
|
Earnings per Share |
||||||||
|
|
Three Months Ended
|
|
Year Ended
|
||||
|
|
2024 |
|
2024 |
||||
Net loss |
|
$ |
(13,014 |
) |
|
$ |
(705,809 |
) |
Fair value changes(1) |
|
|
(47,753 |
) |
|
|
(27,868 |
) |
Stock-based compensation expense |
|
|
24,787 |
|
|
|
534,138 |
|
Employer payroll tax related to stock-based compensation |
|
|
7,580 |
|
|
|
13,543 |
|
G-4 Special Payment |
|
|
— |
|
|
|
2,250 |
|
Amortization of technology license |
|
|
(3,988 |
) |
|
|
(7,977 |
) |
Acquisition related expenses(2) |
|
|
2,708 |
|
|
|
2,708 |
|
Non-GAAP net loss |
|
$ |
(29,680 |
) |
|
$ |
(189,015 |
) |
Non-GAAP net loss per share |
|
$ |
(0.18 |
) |
|
$ |
(1.58 |
) |
Weighted average common shares outstanding, basic and diluted |
|
|
166,398 |
|
|
|
119,849 |
|
(1) |
Fair value changes include gains and losses related to quarterly fair value adjustments of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities, and indemnity-related holdback liabilities. |
(2) |
Acquisition related expenses consist of legal and diligence costs incurred for the acquisition of Ambry. |
Adjusted EBITDA |
||||||||||||||||
|
|
Three Months Ended December 31, |
|
|
Year Ended December 31, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net loss |
|
$ |
(13,014 |
) |
|
$ |
(50,483 |
) |
|
$ |
(705,809 |
) |
|
$ |
(214,118 |
) |
Interest income |
|
|
(3,546 |
) |
|
|
(1,737 |
) |
|
|
(11,084 |
) |
|
|
(7,601 |
) |
Interest expense |
|
|
13,359 |
|
|
|
13,624 |
|
|
|
53,653 |
|
|
|
46,869 |
|
Depreciation |
|
|
6,884 |
|
|
|
5,621 |
|
|
|
26,356 |
|
|
|
21,279 |
|
Amortization |
|
|
2,573 |
|
|
|
2,919 |
|
|
|
10,889 |
|
|
|
11,770 |
|
Provision for income taxes |
|
|
122 |
|
|
|
214 |
|
|
|
266 |
|
|
|
288 |
|
EBITDA |
|
$ |
6,378 |
|
|
$ |
(29,842 |
) |
|
$ |
(625,729 |
) |
|
$ |
(141,513 |
) |
Losses on equity method investments |
|
|
2,536 |
|
|
|
— |
|
|
|
4,228 |
|
|
|
301 |
|
Fair value changes(1) |
|
|
(47,753 |
) |
|
|
(14,579 |
) |
|
|
(27,868 |
) |
|
|
(22,307 |
) |
Stock-based compensation expense |
|
|
24,787 |
|
|
|
— |
|
|
|
534,138 |
|
|
|
— |
|
Employer payroll tax related to stock-based compensation |
|
|
7,580 |
|
|
|
— |
|
|
|
13,543 |
|
|
|
— |
|
G-4 Special Payment |
|
|
— |
|
|
|
— |
|
|
|
2,250 |
|
|
|
— |
|
Amortization of technology license |
|
|
(3,988 |
) |
|
|
— |
|
|
|
(7,977 |
) |
|
|
— |
|
Settlement costs(2) |
|
|
— |
|
|
|
8,625 |
|
|
|
— |
|
|
|
8,625 |
|
Acquisition related expenses(3) |
|
|
2,708 |
|
|
|
672 |
|
|
|
2,708 |
|
|
|
672 |
|
Adjusted EBITDA |
|
$ |
(7,752 |
) |
|
$ |
(35,124 |
) |
|
$ |
(104,707 |
) |
|
$ |
(154,222 |
) |
(1) |
Fair value changes include gains and losses related to quarterly fair value adjustments of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities, and indemnity-related holdback liabilities. |
(2) |
Settlement costs for the year ended December 31, 2023 include |
(3) |
Acquisition related expenses consist of legal and diligence costs incurred for the acquisition of Ambry during the year ended December 31, 2024, and for the acquisitions of Mpirik, Inc. and SEngine Precision Medicine LLC during the year ended December 31, 2023. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250224203671/en/
Tempus Communications
Erin Carron
media@tempus.com
Tempus Investor Relations
Elizabeth Krutoholow
Elizabeth.krutoholow@tempus.com
Source: Tempus AI, Inc.
FAQ
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