Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 457

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 2
Chunk 457
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ed Expenses Accrued expenses as of December 31, 2024 and 2023, consist of the following (in thousands):  

        December 31, 2024

        December 31,2023

        Accrued compensation and employee benefits
         
        $
        24,767

        $
        21,950

        Accrued expenses

        51,147

        37,783

        Accrued employer payroll tax related to stock-based compensation

        24,439

        —

        Accrued cloud storage costs

        21,394

        13,921

        Interest payable

        8,660

        8,863

        Total accrued expenses
         
        $
        130,407

        $
        82,517

5.GOODWILL AND INTANGIBLES Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. As disclosed in Note 2, Goodwill is tested for impairment at least annually as of October 1st. The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows (in thousands):  

        Balance as of December 31, 2022
         
        $
        53,100

        Goodwill related to business combinations
         
        $
        20,249

        Foreign exchange rate adjustment

        5

        Balance as of December 31, 2023
         
        $
        73,354

        Foreign exchange rate adjustment

        (11
        )

        Balance as of December 31, 2024
         
        $
        73,343

      There was no goodwill impairment for the years ended December 31, 2024, 2023 and 2022.

160

Intangible assets are initially recorded at their acquisition cost, or fair value if acquired as part of a business combination and amortized over their estimated useful lives. Intangible assets consist of a website domain, customer relationships and trade names acquired as part of a business combination, and licensed data acquired by entering into research collaboration agreements. In each license arrangement, the other party provides the Company with specified data, which currently is used primarily for research and development purposes but may also be licensed to third parties. The asset represents the Company’s right to use these datasets. The Company also recognizes a