$TEM
Tempus AI, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024120677 Filed on November 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $180.9M $136.1M
YoY Change 32.98%
Cost Of Revenue $75.09M
YoY Change
Gross Profit $105.8M
YoY Change
Gross Profit Margin 58.5%
Selling, General & Admin $101.4M $71.43M
YoY Change 42.0%
% of Gross Profit 95.83%
Research & Development $27.35M $23.23M
YoY Change 17.71%
% of Gross Profit 25.84%
Depreciation & Amortization $6.788M $5.404M
YoY Change 25.61%
% of Gross Profit 6.41%
Operating Expenses $128.8M $94.66M
YoY Change 36.04%
Operating Profit -$53.62M -$44.79M
YoY Change 19.71%
Interest Expense -$10.66M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$11.52M $2.287M
YoY Change -603.8%
Pretax Income -$74.11M -$53.36M
YoY Change 38.88%
Income Tax $38.00K
% Of Pretax Income
Net Earnings -$75.84M -$53.43M
YoY Change 41.95%
Net Earnings / Revenue -41.92% -39.27%
Basic Earnings Per Share -$0.46 -$1.03
Diluted Earnings Per Share -$0.46 -$1.03
COMMON SHARES
Basic Shares Outstanding 165.6K 63.29K
Diluted Shares Outstanding 165.6K 63.29K

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $466.3M
YoY Change
Cash & Equivalents $388.0M $132.7M
Short-Term Investments $78.32M
Other Short-Term Assets $31.34M
YoY Change
Inventory $36.14M
Prepaid Expenses
Receivables $145.6M
Other Receivables $0.00
Total Short-Term Assets $679.4M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $59.39M
YoY Change
Goodwill $73.37M
YoY Change
Intangibles $14.29M
YoY Change
Long-Term Investments $112.4M
YoY Change
Other Assets $18.74M
YoY Change
Total Long-Term Assets $292.3M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $679.4M
Total Long-Term Assets $292.3M
Total Assets $971.7M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.03M
YoY Change
Accrued Expenses $102.0M
YoY Change
Deferred Revenue $67.60M
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $252.6M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $439.0M
YoY Change
Other Long-Term Liabilities $15.40M
YoY Change
Total Long-Term Liabilities $15.40M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $252.6M
Total Long-Term Liabilities $15.40M
Total Liabilities $918.0M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$2.138B
YoY Change
Common Stock $2.185B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.73M -$1.325B
YoY Change
Total Liabilities & Shareholders Equity $971.7M
YoY Change

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$75.84M -$53.43M
YoY Change 41.95%
Depreciation, Depletion And Amortization $6.788M $5.404M
YoY Change 25.61%
Cash From Operating Activities $48.66M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $43.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$131.4M
YoY Change
Cash From Investing Activities -$131.4M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.123M
YoY Change
NET CHANGE
Cash From Operating Activities 48.66M
Cash From Investing Activities -131.4M
Cash From Financing Activities -8.123M
Net Change In Cash -90.87M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $48.66M
Capital Expenditures $43.00K
Free Cash Flow $48.62M
YoY Change

Facts In Submission

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<div class="item-list-element-wrapper" style="display:flex;margin-top:12pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:4.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">1.</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">DESCRIPTION OF BUSINESS </span></div></div><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Company Information</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Tempus AI, Inc., together with the subsidiaries through which it conducts business (the “Company”), is a healthcare technology company focused on bringing artificial intelligence and machine learning to healthcare in order to improve the care of patients across multiple diseases. The Company combines the results of laboratory tests with other multimodal datasets to improve patient care by supporting all parties in the healthcare ecosystem, including physicians, researchers, payers, and pharmaceutical companies. The Company primarily derives revenue from selling comprehensive genetic testing to physicians and large academic research institutions, licensing data to third parties, matching patients to clinical trials, and related services.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company, based in Chicago, Illinois, was founded by Eric P. Lefkofsky, the Company’s CEO and Executive Chairman, and evolved from a business Mr. Lefkofsky founded called Bioin. Bioin originally was established as a limited liability company. Effective September 21, 2015, Bioin converted its legal form to a corporation organized and existing under the General Corporation Law of the State of Delaware. Bioin subsequently changed its legal name to Tempus Health, Inc. in September 2015, to Tempus Labs, Inc. in October 2016 and to Tempus AI, Inc. in December 2023.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Initial Public Offering</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On June 13, 2024, the Company’s registration statement relating to its initial public offering (the “IPO”) was declared effective and its Class A common stock began trading on the Nasdaq Global Select Market on June 14, 2024. On June 17, 2024, the Company completed its IPO in which it issued and sold </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">11,100,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock, at a public offering price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">37.00</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share. The Company received net proceeds of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">382.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million after deducting underwriting discounts and commissions of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">28.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the closing of the IPO, all shares of the Company’s then-outstanding redeemable convertible preferred stock, other than the Company’s Series B redeemable convertible preferred stock, converted into an aggregate of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">66,309,550</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock. The Company’s Series B redeemable convertible preferred stock converted on a one-for-one basis into an aggregate of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">5,374,899</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class B common stock. Subsequently, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">331,110</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class B common stock were automatically converted into shares of Class A common stock, such that there are </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">5,043,789</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class B common stock outstanding immediately following the IPO. The Company issued an additional </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">236,719</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock pursuant to a separate agreement with an investor in the Series G-3 convertible preferred stock.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 16, 2024, the Company’s redeemable convertible preferred stock had accrued $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">188.2</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of unpaid dividends, which were paid in </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">5,098,799</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock at the closing of the IPO.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Outstanding shares of non-voting common stock were converted on a one-for-one basis into </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">5,069,477</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The restricted stock units (“RSUs”) granted to employees pursuant to the Company’s 2015 Plan are subject to two vesting conditions. The first is a time-based component. The second vesting condition is the occurrence of a liquidity event. The liquidity event condition related to these awards was satisfied upon the IPO and, as a result, the Company recognized $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">488.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">million of stock-based compensation expense for the three months ended June 30, 2024. In connection with the IPO, the Company settled an aggregate of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">4,568,291</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> fully vested RSUs (the “IPO Settled RSUs”). To meet the related tax withholding requirements, the Company withheld </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,911,316</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares from the </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">4,563,164</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock issuable upon settlement of the IPO Settled RSUs. Based on the public offering price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">37.00</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, the tax withholding obligation was $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">70.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the IPO, the Company issued </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">109,459</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock upon the automatic net exercise of a warrant issued to Allen &amp; Company LLC (“Allen”), as further described in </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 9.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the IPO, the Company amended and restated its certificate of incorporation (the “Restated Certificate”), under which authorized capital stock consists of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000,000,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class A common stock, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">5,500,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of Class B common stock, and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">20,000,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of preferred stock.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q2 tem Common Stock Shares Converted From One Class To Another
CommonStockSharesConvertedFromOneClassToAnother
331110
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:4.533%;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Reclassification</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior year amounts have been reclassified for consistency with the current year presentation.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and classifications of assets and liabilities, revenue and expenses, and the related disclosures of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. The most significant estimates are related to revenue, accounts receivable, stock-based compensation, operating lease liabilities, and the useful lives of property, equipment and intangible assets. Actual results could differ from those estimates.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q3 tem Warrant Contract Asset Current And Non Current
WarrantContractAssetCurrentAndNonCurrent
22709000
CY2023Q4 tem Warrant Contract Asset Current And Non Current
WarrantContractAssetCurrentAndNonCurrent
26342000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
53900000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
35700000
CY2024Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
105674000
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
91656000
CY2024Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
45598000
CY2023Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
42433000
CY2024Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
6633000
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
6633000
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
157905000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
140722000
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
98513000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
79041000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59392000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61681000
CY2024Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
3723000
CY2023Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
3366000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
10397000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
9729000
CY2024Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
3065000
CY2023Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
2038000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
9075000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
5929000
CY2024Q3 us-gaap Depreciation
Depreciation
6788000
CY2023Q3 us-gaap Depreciation
Depreciation
5404000
us-gaap Depreciation
Depreciation
19472000
us-gaap Depreciation
Depreciation
15658000
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
25378000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
21950000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
45504000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
37783000
CY2024Q3 tem Accrued Cloud Storage Costs Payable Current
AccruedCloudStorageCostsPayableCurrent
22039000
CY2023Q4 tem Accrued Cloud Storage Costs Payable Current
AccruedCloudStorageCostsPayableCurrent
13921000
CY2024Q3 us-gaap Interest Payable Current
InterestPayableCurrent
9064000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
8863000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
101985000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
82517000
CY2024Q3 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2023Q3 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2024Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2024Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2024Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
48579000
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34290000
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
14289000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
47890000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
25974000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
21916000
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2023Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
69803765
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
63525953
CY2023Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
1130429000
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
RedeemableNoncontrollingInterestEquityPreferredCarryingAmount
1105543000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21038000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
509351000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2024Q3 tem Line Of Credit Increased Interest Rate Facility
LineOfCreditIncreasedInterestRateFacility
0.035
tem Line Of Credit Increased Interest Rate Facility
LineOfCreditIncreasedInterestRateFacility
0.103
CY2023Q3 tem Line Of Credit Increased Interest Rate Facility
LineOfCreditIncreasedInterestRateFacility
0.034
tem Line Of Credit Increased Interest Rate Facility
LineOfCreditIncreasedInterestRateFacility
0.097
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-75840000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-53426000
us-gaap Net Income Loss
NetIncomeLoss
-692795000
us-gaap Net Income Loss
NetIncomeLoss
-163635000
CY2024Q3 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0
CY2023Q3 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
11143000
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
39347000
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
32709000
CY2024Q3 us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
0
CY2023Q3 us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
764000
us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
1174000
us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
2230000
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-75840000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-65333000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-733316000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-198574000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165612
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165612
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63286
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63286
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104164
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104164
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63267
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63267
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.46
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.46
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.03
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.14
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9669387
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
64704423
CY2024Q3 tem Marketable Equity Securities Fair Value Disclosure
MarketableEquitySecuritiesFairValueDisclosure
78317000
CY2024Q3 tem Warrant Liability Fair Value Disclosure
WarrantLiabilityFairValueDisclosure
76900000
CY2024Q3 us-gaap Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
940000
CY2023Q4 tem Marketable Equity Securities Fair Value Disclosure
MarketableEquitySecuritiesFairValueDisclosure
31807000
CY2023Q4 tem Warrant Asset Fair Value Disclosure
WarrantAssetFairValueDisclosure
10000000
CY2023Q4 tem Warrant Liability Fair Value Disclosure
WarrantLiabilityFairValueDisclosure
34500000
CY2023Q4 us-gaap Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
775000
CY2023Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
0
CY2024Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
2578000
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
5119000
CY2024Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
6081000
CY2024Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
2578000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-962000

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