Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 407

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 2
Chunk 407
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31, 2024, compared to the same period in 2023, was primarily due to an increase of $8.5 million of stock-based compensation expense related to RSUs for which the performance-based vesting condition was satisfied in connection with our IPO, as well as an increase of $2.3 million in cloud expenses. 

Technology Research and Development 

    Year Ended December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Technology research and development
     
    $
    167,519

    $
    95,155

    $
    72,364

    76
    %

The increase in Technology research and development expenses for the year ended December 31, 2024, compared to the same period in 2023, was primarily due to an increase of $58.5 million of stock-based compensation expenses related to RSUs for which the performance-based vesting condition was satisfied in connection with our IPO, $11.1 million in personnel-related costs associated with the investment in our cloud infrastructure and new lines of business, and $2.7 million in taxes related to the settlement of RSUs. 

Research and Development 

    Year Ended December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Research and development
     
    $
    149,325

    $
    90,343

    $
    58,982

    65
    %

127

The increase in Research and development expenses for the year ended December 31, 2024, compared to the same period in 2023, was primarily due to an increase of $47.6 million of stock-based compensation expenses related to RSUs for which the performance-based vesting condition was satisfied in connection with our IPO, $5.7 million in personnel-related costs for employees in our research and development group, $1.8 million in third party sequencing fees, and $1.8 million in validation and regulatory fees. 

Selling, General and Administrative 

    Year Ended December 31,

    2024

    2023

    $ Change

    % Change

    (in thousands, except percentages)

    Selling, general and administrative
     
    $
    755,351

    $
    296,760

    $
    458,591

    155