Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 458

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 2
Chunk 458
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 liability for the associated minimum payments that are presented within accrued data licensing fees.During the years ended December 31, 2024, 2023 and 2022, the Company recorded $0.7 million, $3.8 million and $2.1 million, respectively, in licensed data related to de-identified data obtained through various agreements. In January 2023, the Company amended a data licensing agreement, which reduced the future data license payments the Company owes in exchange for waiving exclusivity rights on the licensed data. The Company remeasured the related licensed data intangible asset to fair value, which resulted in an impairment of $7.4 million recorded in Research and development during the year ended December 31, 2023. A $7.9 million gain resulting from the related reduction of future data license payments was also recorded in Research and development during the year ended December 31, 2023. The impairment resulted in a reduction of $40.1 million and $32.7 million to gross intangible assets and accumulated amortization, respectively. There were no impairment charges recognized related to intangible assets during the year ended December 31, 2024. The following table summarizes intangible assets as of December 31, 2024 and 2023 (in thousands):  

        December 31, 2024

        December 31,2023

        Gross Amount

        Accumulated Amortization

        Net

        Gross Amount

        Accumulated Amortization

        Net

        Customer relationships
         
        $
        20,550

        $
        15,606

        $
        4,944

        $
        20,550

        $
        12,219

        $
        8,331

        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