Tempus AI, Inc.

Listed Company

TEMCIK 0001717115NasdaqLarge AcceleratedServices-Computer Programming, Data Processing, Etc.NevadaFY ends Dec 31

Period

FY 2025

Revenue

$1.27B

Net Income

$-245.03M

Total Assets

$2.27B

Equity

$491.33M

Shares Out

—

Op. Cash Flow

$-218.09M

Business

Tempus AI, Inc. develops AI-driven Intelligent Diagnostics that connect laboratory results to patients’ clinical, molecular, and imaging data to personalize diagnostic insights and guide therapy selection. It offers Genomics testing (NGS, PCR, transcriptomic and methylation assays, liquid and tissue biopsies, hereditary screening), Data and Services (licensed de-identified multimodal datasets, analytics, clinical trial matching and organoid modeling), and AI Applications (algorithmic diagnostics and clinical decision support such as the Next platform and various Algos). Tempus operates a vertically integrated platform with proprietary software, laboratories, and data pipelines, and distributes services primarily through clinician ordering, provider integrations, and life sciences partnerships across the United States and select international collaborations.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Total net revenue	1,272	693	532	321
Technology research and development	146	168	95	79
Research and development	173	149	90	83
Selling, general and administrative	732	755	297	233
Total cost and operating expenses	1,525	1,384	728	586
Loss from operations	−253	−691	−196	−265
Interest income	13	11	8	3
Interest expense	−70	−54	−47	−22
Loss on debt extinguishment	−12	0	0	—
Other income, net	31	32	22	−5
Loss before benefit from (provision for) income taxes	−291	−701	−214	−289
benefit from (Provision for) income taxes	52	−266,000	−288,000	—
losses from equity method investments	−6	−4	−301,000	−595,000
Net Loss	−245	−706	−214	−290
Accretion of convertible preferred stock to redemption value	0	0	−4	−301,000
Dividends on Series A, B, B-1, B-2, C, D, E, F, G, G-3, and G-4 preferred shares	0	−39	−44	−41
Cumulative undeclared dividends on Series C preferred shares	0	−1	−3	−3
Net loss attributable to common shareholders, basic	−245	−746	−266	−334
Net loss attributable to common shareholders, diluted	−245	−746	−266	−334
Net loss per share attributable to common shareholders, basic	−1.41	−6.23	−4.2	−5.3
Net loss per share attributable to common shareholders, diluted	−1.41	−6.23	−4.2	−5.3
Weighted-average shares outstanding used to compute net loss per share, basic	174,264	119,849	63,306	63,306
Weighted-average shares outstanding used to compute net loss per share, diluted	174,264	119,849	63,306	63,032
Foreign currency translation adjustment	808,000	89,000	−13,000	29,000
Comprehensive loss	−244	−706	−214	−290

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	605	341	166	303	—
Accounts receivable, net of allowances of $2,755 and $1,141 at December 31, 2025 and 2024, respectively	311	155	94	—	—
Inventory	52	38	29	—	—
Related party asset	9	—	—	—	—
Prepaid expenses and other current assets	40	26	17	—	—
Marketable equity securities	150	107	32	—	—
Total current assets	1,167	668	350	—	—
Property and equipment, net	89	58	62	—	—
Goodwill	470	73	73	53	—
Intangible assets, net	355	12	22	—	—
Investments and other assets	21	8	9	—	—
Investment in joint venture	87	91	0	—	—
Related party asset, less current portion	16	—	—	—	—
Operating lease right-of-use assets	64	15	21	—	—
Restricted cash	5	900,000	800,000	—	—
Total Assets	2,275	926	564	—	—
Accounts payable	82	54	54	—	—
Accrued expenses	155	130	83	—	—
Deferred revenue	93	76	65	—	—
Deferred other income	16	16	0	—	—
Other current liabilities	9	7	8	—	—
Operating lease liabilities	13	6	6	—	—
Accrued data licensing fees	4	2	6	—	—
Total current liabilities	372	291	233	—	—
Operating lease liabilities, less current portion	74	26	32	—	—
Convertible promissory note	209	168	193	—	—
Other long-term liabilities	57	16	20	—	—
Revolving credit facility	100	—	—	—	—
Interest payable	12	70	55	—	—
Long-term debt, net	203	267	257	—	—
Convertible senior notes, net	728	—	—	—	—
Deferred other income, less current portion	8	24	0	—	—
Deferred revenue, less current portion	20	7	17	—	—
Total Liabilities	1,784	870	841	—	—
Commitments and contingencies	—	—	—	—	—
Convertible redeemable preferred stock, $0.0001 par value, 20,000,000 shares authorized at December 31, 2025 and 2024, respectively, no shares issued and outstanding at December 31, 2025 and 2024	0	0	1,106	—	—
Treasury Stock, 183,229 and 145,466 shares at December 31, 2025 and 2024, respectively, at cost	−7	−4	−4	—	—
Additional Paid-In Capital	2,893	2,211	18	—	—
Accumulated Other Comprehensive Income	902,000	94,000	5,000	—	—
Accumulated deficit	−2,396	−2,151	−1,397	—	—
Total Stockholders' equity	491	56	−1,382	−1,129	−807
Total Liabilities, Convertible redeemable preferred stock, and Stockholders' equity	2,275	926	564	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Change in fair value of warrant liability	0	42	−8	5
Gain on warrant termination	0	−39	0	0
Reversal of warrant contract asset amortization	0	−16	0	0
Stock-based compensation	125	534	0	0
Gain on warrant exercise	0	−173,000	0	0
Gain on marketable equity securities	−16	−12	−10	0
Loss on disposal of property and equipment	415,000	0	0	—
Deferred income taxes	−53	0	0	—
Amortization of original issue discount	4	1	1	238,000
Amortization of deferred financing fees	484,000	510,000	510,000	139,000
Change in fair value of contingent consideration	0	72,000	−400,000	−4
Change in fair value of holdback liability	−1	0	0	—
Amortization of warrant contract asset	0	5	5	5
Depreciation and amortization	102	37	33	30
Provision for bad debt expense	3	680,000	2	4
Provision for obsolete inventory	1	0	0	2
Amortization of finance right-of-use lease assets	0	0	283,000	381,000
Change in fair value of warrant asset	0	−18	−4	0
Non-cash operating lease costs	12	6	7	6
Minimum accretion expense	268,000	197,000	90,000	455,000
Impairment of intangible assets	0	0	7	0
PIK interest added to principal	11	9	4	0
Accounts receivable	−90	−61	−7	−8
Inventory	−3	−10	−7	−1
Prepaid expenses and other current assets	−2	−14	−6	−1
Investments and other assets	−17	−751,000	−4	−2
Accounts payable	−7	−24	−23	−8
Related party asset	−25	0	0	—
Deferred revenue	−7	−21	−26	68
Deferred other income	−16	40	0	0
Accrued data licensing fees	3	−5	−9	−7
Accrued expenses & other	−13	51	39	23
Interest payable	14	15	16	16
Operating lease liabilities	−15	−9	−9	−7
Net cash used in operating activities	−218	−189	−214	−168
Purchases of property and equipment	−21	−22	−35	−18
Proceeds from sale of marketable equity securities	8	23	0	0
Purchases of marketable equity securities	−3	−36	0	0
Business combinations, net of cash acquired	−377	0	−6	−40
Investment in joint venture	0	−95	0	0
Capitalized software costs	−6	0	0	—
Net cash used in investing activities	−398	−130	−40	−58
Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions	0	382	0	0
Tax withholding related to net share settlement of restricted stock units	0	−70	0	0
Issuance of Series G-4 Preferred Stock, net of offering costs	0	0	45	—
Issuance of Series G-5 Preferred Stock	0	200	0	0
Principal payments on finance lease liabilities	0	0	−288,000	−375,000
Purchase of treasury stock	−3	0	−4	0
Payment of deferred offering costs	−806,000	−9	−698,000	−3
Dividends paid	0	−6	−6	−6
Proceeds from revolving credit facility, net of original issue discount	98	0	0	—
Proceeds from long-term debt, net of original issue discount	196	0	83	171
Proceeds from convertible senior notes, net of initial purchasers' discount	726	0	0	—
Payment of deferred financing fees	−2	0	0	−3
Payment of indemnity holdback related to acquisition	0	−813,000	0	0
G-4 Special Payment	0	−2	0	0
Principal payments on long-term debt	−277	0	0	—
Prepayment premium on long-term debt	−8	0	0	—
Purchases of capped call	−42	0	0	—
Proceeds from issuance of common stock in connection with at-the-market offering, net of commissions	195	0	0	—
Net cash provided by financing activities	884	494	118	251
Effect of foreign exchange rates on cash	−62,000	336,000	−19,000	17,000
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash	268	175	−137	25
Cash paid during the year for interest	44	28	17	5
Cash paid for income taxes	654,000	206,000	161,000	6,000
Marketable equity securities received on accounts receivable	32	22	22	0
Dividends Payable	0	5	13	6
Purchases of property and equipment, accrued but not paid	6	4	6	2
Redemption of convertible promissory note	32	25	28	17
Non-voting common stock issued in connection with business combinations	0	344,000	9	5
Accretion of convertible preferred stock to redemption value	0	0	4	301,000
Deferred offering costs, accrued but not yet paid	47,000	0	4	2
Deferred financing fees, accrued but not yet paid	226,000	0	0	—
Reclassification of deferred offering costs to additional paid-in capital upon at-the-market offering	821,000	0	0	—
Operating lease liabilities arising from obtaining right-of-use assets	23	2	1	42
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	0	1,349	0	0
Taxes related to net share settlement of restricted stock units not yet paid	0	20,000	0	0
Reclassification of deferred offering costs to additional paid-in capital upon initial public offering	0	12	0	0
Class A Common Stock issued in connection with business combinations	403	0	0	—
Class A Common Stock issued in connection with license agreement	1	0	0	—
Issuance of warrant	0	0	4	0
Issuance of common stock in connection with contingent consideration	0	847,000	0	0
Convertible promissory note principal reset due to amendment	72	0	0	—

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