Company: TEM
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025603
Chunk: 456

Company: Tempus AI, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 2
Chunk 456
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 the former owners with an acquisition date fair value of $3.4 million, which the Company recognized under long-term liabilities. The consideration was to be paid out based on AKESOgen's 2020 revenue, with a maximum payout of 726,979 shares of non-voting common stock. On May 19, 2021, the Company entered into a settlement agreement with the former owners of AKESOgen related to the contingent consideration, whereby $7.5 million was paid in cash and 145,466 shares of non-voting common stock were issued on December 9, 2022 and subsequently repurchased by the Company in January 2023.

159

4.BALANCE SHEET COMPONENTS Property and Equipment, Net The following summarizes property and equipment, net as of December 31, 2024 and 2023 (in thousands):  

        December 31, 2024

        December 31,2023

        Equipment
         
        $
        110,011

        $
        91,656

        Leasehold improvements

        46,809

        42,433

        Furniture and fixtures

        6,633

        6,633

        Total property and equipment, gross

        163,453

        140,722

        Less: accumulated depreciation

        (105,397
        )

        (79,041
        )

        Property and equipment, net
         
        $
        58,056

        $
        61,681

       Depreciation expense on property and equipment is classified as follows in the accompanying consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 (in thousands):  

        Year Ended December 31,

        2024

        2023

        2022

        Cost of revenue, genomics
         
        $
        13,966

        $
        12,961

        $
        8,190

        Cost of revenue, data and services

        172

        —

        —

        Research and development

        —

        —

        1,371

        Selling, general and administrative costs

        12,218

        8,318

        7,133

        Total depreciation
         
        $
        26,356

        $
        21,279

        $
        16,694

       Accru