Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 563

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 563
---

        Licensed data

        20,010

        17,828

        2,182

        19,321

        11,469

        7,852

        Website domain

        19

        —

        19

        19

        —

        19

        Trade names

        8,000

        3,429

        4,571

        8,000

        2,286

        5,714

        $
        48,579

        $
        36,863

        $
        11,716

        $
        47,890

        $
        25,974

        $
        21,916

       Amortization of intangible assets is recognized using the straight-line method over their estimated useful lives, which range from three to seven years. Amortization expense was $10.9 million, $11.9 million and $13.3 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is recorded in cost of revenues, research and development, or selling, general and administrative expense, depending on use of the asset. The weighted average life of the Company’s intangibles is approximately six years. As of December 31, 2024, the estimated future amortization expense related to intangible assets is as follows (in thousands): 

        2025
         
        $
        4,784

        2026

        4,480

        2027

        1,290

        2028

        1,143

        2029 and thereafter

        —

        Total
         
        $
        11,697

6.JOINT VENTURESB TempusOn May 18, 2024, the Company entered into a Joint Venture Agreement (the "Joint Venture Agreement") with SoftBank Group Corporation ("SoftBank") to form SB Tempus Corp. (the "Joint Venture" or "SB Tempus"). The Joint Venture closed on July 18, 2024, at which time the Company and SoftBank each contributed ¥15 billion ($95.2 million). Each party received 50% of SB Tempus's outstanding capital stock and board seats. SB Tempus will engage in certain business activities in Japan similar to those conducted by the Company in the United States, including performing clinical sequencing, organizing patient