Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 333

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 333
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 into an Intellectual Property Agreement (the "IP License Agreement") under which SB Tempus paid the Company an additional ¥7.5 billion ($47.9 million) in exchange for a non-exclusive license to certain of the Company's technologies for certain specified uses solely in Japan. The payment is recorded in deferred other income and will be amortized into Other income (expense), net over three years, based on the estimated time for SB Tempus' systems and technologies to diverge from the Company's. For the year ended December 31, 2024, the Company recognized $8.0 million related to the IP License Agreement. 

7.COMMITMENTS AND CONTINGENCIES Purchase Obligations The Company has entered into non-cancelable arrangements with third parties, primarily related to data licenses and cloud computing services. Where applicable, the Company calculates its obligation based on termination fees that can be paid to exit the contract. The data license agreements include committed payments for access to the data and additional payments contingent on the commercialization of such data. For the years ended December 31, 2024, 2023 and 2022, the Company recognized data licensing and cloud computing expenses of $40.6 million, $33.7 million and $31.1 million, respectively, related to non-cancelable arrangements. As of December 31, 2024, future payments under these contractual obligations were as follows (in thousands):  

        2025
        $
        43,080

        2026
         
        26,008

        2027
         
        3,829

        2028 and thereafter
         
        —

        Total purchase obligations
         
        72,917

             Less:  Current portion of purchase obligations
         
        43,080

        Total long-term purchase obligations
        $
        29,837

       Legal Matters From time to time in the normal course of business, the Company may be subject to various legal matters such as threatened or pending claims or proceedings. There were no material such matters as of and for the years ended December 31, 2024, 2023 and 2022. 

8.LEASES The Company has entered into various non-cancelable operating lease agreements, primarily for the rent of office and lab space, with expirations at various dates through 2032. The Company has also acquired portions of its equipment under finance lease arrangements, formerly referred to as capital leases under ASC