Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 209

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 209
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 December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Selling, general and administrative
     
    $
    755,351

    $
    296,760

    $
    458,591

    155
    %

The increase in Selling, general and administrative expenses for the year ended December 31, 2024, compared to the same period in 2023, was primarily due to an increase of $405.9 million of stock-based compensation expenses related to RSUs for which the performance-based vesting condition was satisfied in connection with our IPO, $26.7 million in personnel-related costs, $8.4 million in taxes related to the settlement of RSUs, $7.0 million in legal costs, $6.6 million in software and tools costs, and $3.1 million in cloud storage costs. 

Interest Income 

    Year Ended December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Interest income
     
    $
    11,084

    $
    7,601

    $
    3,483

    46
    %

The increase in Interest income for the year ended December 31, 2024, compared to the same period in 2023, increased primarily due to higher cash on hand as of December 31, 2024 compared to December 31, 2023.

Interest Expense 

    Year Ended December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Interest expense
     
    $
    (53,653
    )
     
    $
    (46,869
    )
     
    $
    (6,784
    )

    14
    %

The increase in Interest expense for the year ended December 31, 2024, compared to the same period in 2023, was primarily driven by compounding interest on our Amended Note and additional debt entered into under our Term Loan Facility in April and October 2023. 

Other Income, net 

    Year Ended December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Other income, net
     
    $
    32,