Tempus AI Files Q3 2024 10-Q

TL;DR

Tempus AI's Q3 10-Q is in. Check financials for latest performance.

AI Summary

Tempus AI, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates. Key financial data points and disclosures related to their business segments, such as Data and Services, are included. The company's address is 600 West Chicago Avenue, Suite 510, Chicago, IL 60654.

Why It Matters

This filing provides investors with an updated view of Tempus AI's financial health and operational progress for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a technology and data company, Tempus AI operates in a dynamic market with inherent risks related to innovation, competition, and data security.

Key Numbers

• 2023-12-31 — Fiscal Year End (Previous fiscal year end date)
• 2023-01-01 to 2023-09-30 — Period (Previous year's comparable period for Data and Services revenue)
• 2023-10-11 — Date (Date of Term Loan Agreement with Ares Capital Corporation)
• 2024-01-01 to 2024-09-30 — Period (Current year's period for Common Stock and Data and Services revenue)

Key Players & Entities

• Tempus AI, Inc. (company) — Filer
• 0000950170-24-120677 (accession_number) — Filing identifier
• 20240930 (date) — Reporting period end date
• 600 WEST CHICAGO AVENUE, SUITE 510, CHICAGO, IL 60654 (address) — Company business and mailing address
• Ares Capital Corporation (company) — Mentioned in relation to a term loan agreement

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A common stock, $0.0001 par value per share TEM The Nasdaq

Filing Documents

• tem-20240930.htm (10-Q) — 3630KB
• tem-ex10_11.htm (EX-10.11) — 187KB
• tem-ex31_1.htm (EX-31.1) — 13KB
• tem-ex31_2.htm (EX-31.2) — 13KB
• tem-ex32_1.htm (EX-32.1) — 12KB
• 0000950170-24-120677.txt ( ) — 12157KB
• tem-20240930.xsd (EX-101.SCH) — 1768KB
• tem-20240930_htm.xml (XML) — 1714KB

– Condensed Consolidated Financial Statements (unaudited)

Part I – Condensed Consolidated Financial Statements (unaudited) 1 Item 1. Condensed Consolidated Quarterly Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Redeemable Convertible Preferred Stock, Common Stock and Stockholders' Equity (Deficit) 7 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 49

– Other Information

Part II – Other Information 51 Item 1.

Legal Proceedings

Legal Proceedings 51 Item 1A.

Risk Factors

Risk Factors 51 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 113 Item 3. Defaults Upon Senior Securities 114 Item 4. Mine Safety Disclosures 114 Item 5. Other Information 115 Item 6. Exhibits 116

Signatures

Signatures 117 Temp us AI, Inc. Condensed Consolidate d Quarterly Financial Statements (Unaudited) September 30, 2024 1 Tempus AI, Inc. CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited) (in thousands, except share and per share amounts) September 30, 2024 December 31, 2023 Assets Current Assets Cash and cash equivalents $ 388,006 $ 165,767 Accounts receivable, net of allowances of $ 1,154 and $ 1,115 at September 30, 2024 and December 31, 2023, respectively 145,616 94,462 Inventory 36,138 28,845 Warrant asset — 5,070 Prepaid expenses and other current assets 31,335 17,295 Marketable equity securities 78,317 31,807 Deferred offering costs — 7,085 Total current assets $ 679,412 $ 350,331 Property and equipment, net 59,392 61,681 Goodwill 73,365 73,354 Warrant asset, less current portion — 4,930 Intangible assets, net 14,289 21,916 Investments and other assets 8,692 8,971 Investment in joint venture 103,699 — Warrant contract asset, less current portion 17,866 21,499 Operating lease right-of-use assets 14,141 20,530 Restricted cash 872 840 Total Assets $ 971,728 $ 564,052 Liabilities, Convertible redeemable preferred stock, and Stockholders' equity (deficit) Current Liabilities Accounts payable 49,027 54,421 Accrued expenses 101,985 82,517 Deferred revenue 67,604 64,860 Deferred other income 15,955 — Other current liabilities 9,913 8,213 Operating lease liabilities 5,894 6,437 Accrued data licensing fees 2,242 6,382 Accrued dividends — 9,797 Total current liabilities $ 252,620 $ 232,627 Operating lease liabilities, less current portion 26,664 32,040 Convertible promissory note 174,460 193,124 Warrant liability 76,900 34,500 Other long-term liabilities 15,403 19,751 Interest payable 66,529 55,321 Long-term debt, net 264,527 256,5

View Full Filing

View this 10-Q filing on SEC EDGAR