Tempus AI, Inc. (TEM) Balance Sheet
TEM balance sheet, 2025
December 31, 2025 · U.S. dollars$2.27B assets = $1.78B liabilities + $491.3M equity
Both columns are drawn to the same scale: what TEM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TEM financial health
Descriptive bands, not a rating. Fiscal 2025.
TEM balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $370.2M2019 | $2.27B2025 | +35.3%/yr | |
| Total liabilities | $624.6M2019 | $1.78B2025 | +19.1%/yr | |
| Shareholders’ equity | −$254.4M2019 | $491.3M2025 | — | |
| Cash & short-term investments | $227.6M2019 | $755.0M2025 | +22.1%/yr | |
| Total debt | $2.6M2019 | $1.33B2025 | +182.8%/yr | |
| Net cash (debt) | $225.0M2019 | −$572.1M2025 | −$797.1M | |
| Working capital | $232.5M2019 | $794.8M2025 | +$562.3M | |
| Book value per share | −$1.582019 | $2.822025 | — | |
| Current ratio | 6.322019 | 3.132025 | −3.18 | |
| Debt / equity | 8.312024 | 2.702025 | −5.61 | |
| Shares outstanding | 160.7M2019 | 174.3M2025 | +1.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TEM assets
TEM liabilities and equity
TEM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TEM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $755.0M | $448.3M | $197.6M | $302.9M | $277.7M | $513.4M | $227.6M |
| Cash & equivalents | $604.8M | $341.0M | $165.8M | $302.9M | $277.7M | $513.4M | $227.6M |
| Short-term investments | $150.2M | $107.3M | $31.8M | $0 | — | — | — |
| Receivables | $320.0M | $154.8M | $94.5M | $88.7M | $82.2M | $87.3M | $31.9M |
| Inventory | $51.7M | $38.4M | $28.8M | $22.3M | $22.9M | $37.6M | $8.3M |
| Other current assets | $40.5M | $26.1M | $29.4M | $24.7M | $21.1M | $11.5M | $8.5M |
| Total current assets | $1.17B | $667.6M | $350.3M | $438.6M | $404.0M | $649.7M | $276.2M |
| Property, plant & equipment (net) | $153.7M | $72.8M | $82.2M | $67.8M | $35.4M | $38.4M | $36.1M |
| Goodwill & intangible assets | $825.5M | $85.1M | $95.3M | $90.4M | $53.3M | $60.5M | $57.3M |
| Long-term investments | $86.6M | $91.5M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $42.0M | $9.2M | $36.2M | $34.6M | $38.7M | $3.3M | $558,000 |
| Total assets | $2.27B | $926.1M | $564.1M | $631.4M | $531.4M | $751.9M | $370.2M |
| Liabilities | |||||||
| Accounts payable | $82.0M | $53.8M | $54.4M | $46.0M | $33.8M | $53.6M | $13.4M |
| Short-term debt | $13.4M | $6.5M | $6.4M | $6.4M | $419,000 | $723,000 | $1.2M |
| Deferred revenue | $108.6M | $91.9M | $64.9M | $50.1M | $16.5M | $7.0M | $5.6M |
| Total current liabilities | $372.4M | $291.1M | $232.6M | $174.2M | $114.8M | $101.4M | $43.7M |
| Long-term debt | $1.24B | $435.4M | $449.7M | $389.5M | $238.2M | $250.0M | $0 |
| Lease obligations | $87.6M | $32.7M | $38.5M | $43.5M | $710,000 | $1.4M | — |
| Other long-term liabilities | $171.6M | $143.3M | $1.26B | $1.20B | $985.8M | $913.5M | $580.9M |
| Total liabilities | $1.78B | $869.8M | $1.95B | $1.76B | $1.34B | $1.26B | $624.6M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $18,000 | $17,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
| Retained earnings (deficit) | −$2.40B | −$2.15B | −$1.40B | −$1.14B | −$807.5M | −$513.0M | −$257.9M |
| Accumulated other comprehensive income | $902,000 | $94,000 | $5,000 | $18,000 | −$11,000 | −$1,000 | $1,000 |
| Total shareholders' equity | $491.3M | $56.3M | −$1.38B | −$1.13B | −$807.5M | −$513.0M | −$254.4M |
| Key figures | |||||||
| Total debt | $1.33B | $468.1M | $488.1M | $433.0M | $238.9M | $251.4M | $2.6M |
| Net cash (debt) | −$572.1M | −$19.8M | −$290.6M | −$130.1M | $38.7M | $262.0M | $225.0M |
| Working capital | $794.8M | $376.5M | $117.7M | $264.4M | $289.2M | $548.3M | $232.5M |
| Tangible book value | −$334.1M | −$28.7M | −$1.48B | −$1.22B | −$860.8M | −$573.4M | −$311.7M |
| Book value per share | $2.82 | $0.35 | −$8.96 | −$6.65 | −$4.75 | −$3.02 | −$1.58 |
| Shares outstanding | 174.3M | 162.1M | 154.2M | 169.9M | 169.9M | 169.9M | 160.7M |
| Current ratio | 3.13 | 2.29 | 1.51 | 2.52 | 3.52 | 6.41 | 6.32 |
| Quick ratio | 2.89 | 2.07 | 1.26 | 2.25 | 3.14 | 5.93 | 5.93 |
| Debt / equity | 2.70 | 8.31 | — | — | — | — | — |
| Equity / assets | 21.6% | 6.1% | −245.0% | −178.8% | −152.0% | −68.2% | −68.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $816.0M | $639.1M | $755.0M | $759.6M | $291.3M | $218.8M | $448.3M | $466.3M | $490.1M | $94.9M | $197.6M | $132.7M |
| Cash & equivalents | $599.6M | $521.2M | $604.8M | $655.9M | $186.3M | $151.6M | $341.0M | $388.0M | $478.8M | $79.9M | $165.8M | $132.7M |
| Short-term investments | $216.4M | $117.9M | $150.2M | $103.7M | $105.0M | $67.2M | $107.3M | $78.3M | $11.3M | $15.0M | $31.8M | — |
| Receivables | $378.4M | $320.5M | $320.0M | $289.3M | $268.8M | $262.6M | $154.8M | $145.6M | $118.1M | $107.8M | $94.5M | $112.6M |
| Inventory | $53.5M | $51.8M | $51.7M | $55.0M | $47.6M | $50.5M | $38.4M | $36.1M | $32.7M | $30.1M | $28.8M | $27.2M |
| Other current assets | $42.9M | $42.5M | $40.5M | $42.6M | $36.5M | $42.1M | $26.1M | $31.3M | $30.5M | $33.7M | $29.4M | $28.4M |
| Total current assets | $1.29B | $1.05B | $1.17B | $1.15B | $644.2M | $574.0M | $667.6M | $679.4M | $671.4M | $266.6M | $350.3M | $300.9M |
| Property, plant & equipment (net) | $149.6M | $150.9M | $153.7M | $157.6M | $131.2M | $133.2M | $72.8M | $73.5M | $74.5M | $78.8M | $82.2M | $84.7M |
| Goodwill & intangible assets | $802.4M | $810.3M | $825.5M | $838.0M | $713.4M | $725.3M | $85.1M | $87.7M | $89.6M | $92.3M | $95.3M | $88.6M |
| Long-term investments | $86.6M | $81.7M | $86.6M | $94.4M | $95.7M | $94.2M | $91.5M | $103.7M | $0 | $0 | $0 | $0 |
| Other non-current assets | $36.5M | $38.3M | $42.0M | $44.9M | $40.9M | $16.5M | $9.2M | $27.4M | $29.1M | $31.6M | $36.2M | $29.9M |
| Total assets | $2.37B | $2.14B | $2.27B | $2.28B | $1.63B | $1.54B | $926.1M | $971.7M | $864.6M | $469.3M | $564.1M | $504.1M |
| Liabilities | ||||||||||||
| Accounts payable | $73.8M | $41.0M | $82.0M | $59.6M | $79.3M | $88.7M | $53.8M | $49.0M | $28.6M | $44.0M | $54.4M | $59.0M |
| Short-term debt | $12.2M | $12.6M | $13.4M | $12.4M | $9.4M | $9.4M | $6.5M | $5.9M | $5.8M | $6.5M | $6.4M | $6.5M |
| Deferred revenue | $103.2M | $88.8M | $108.6M | $100.7M | $116.4M | $89.4M | $91.9M | $83.6M | $50.9M | $57.4M | $64.9M | $51.9M |
| Total current liabilities | $391.5M | $318.0M | $372.4M | $350.0M | $418.2M | $336.5M | $291.1M | $252.6M | $181.6M | $209.5M | $232.6M | $204.0M |
| Long-term debt | $1.36B | $1.23B | $1.24B | $1.25B | $798.0M | $800.8M | $435.4M | $439.0M | $442.5M | $445.9M | $449.7M | $419.4M |
| Lease obligations | $83.5M | $85.4M | $87.6M | $90.1M | $55.2M | $57.0M | $32.7M | $32.6M | $33.1M | $39.3M | $38.5M | $40.0M |
| Other long-term liabilities | $168.8M | $167.6M | $171.6M | $177.9M | $99.6M | $79.7M | $143.3M | $226.4M | $142.3M | $1.29B | $1.26B | $1.21B |
| Total liabilities | $1.92B | $1.72B | $1.78B | $1.77B | $1.32B | $1.22B | $869.8M | $918.0M | $766.4M | $1.94B | $1.95B | $1.83B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $19,000 | $18,000 | $18,000 | $18,000 | $18,000 | $18,000 | $17,000 | $16,000 | $16,000 | $6,000 | $6,000 | $6,000 |
| Retained earnings (deficit) | −$2.52B | −$2.52B | −$2.40B | −$2.34B | −$2.26B | −$2.22B | −$2.15B | −$2.14B | −$2.06B | −$1.49B | −$1.40B | −$1.33B |
| Accumulated other comprehensive income | −$1.9M | −$908,000 | $902,000 | $5.5M | $8.4M | $4.7M | $94,000 | $10.2M | −$94,000 | −$51,000 | $5,000 | −$11,000 |
| Total shareholders' equity | $444.9M | $416.4M | $491.3M | $507.8M | $309.6M | $326.2M | $56.3M | $53.7M | $98.3M | −$1.47B | −$1.38B | −$1.32B |
| Key figures | ||||||||||||
| Total debt | $1.44B | $1.32B | $1.33B | $1.34B | $853.3M | $857.8M | $468.1M | $471.5M | $475.6M | $485.2M | $488.1M | $459.4M |
| Net cash (debt) | −$628.2M | −$679.5M | −$572.1M | −$576.2M | −$561.9M | −$639.0M | −$19.8M | −$5.2M | $14.5M | −$390.3M | −$290.6M | −$326.7M |
| Working capital | $899.4M | $736.0M | $794.8M | $796.5M | $226.0M | $237.5M | $376.5M | $426.8M | $489.8M | $57.0M | $117.7M | $96.8M |
| Tangible book value | −$357.5M | −$393.9M | −$334.1M | −$330.2M | −$403.8M | −$399.1M | −$28.7M | −$33.9M | $8.7M | −$1.57B | −$1.48B | −$1.41B |
| Book value per share | $2.44 | $2.33 | $2.82 | $2.90 | $1.79 | $1.91 | $0.35 | $0.32 | $0.64 | −$8.68 | −$8.96 | −$7.80 |
| Shares outstanding | 182.4M | 179.0M | 174.3M | 174.9M | 173.4M | 170.5M | 162.1M | 165.6M | 154.2M | 169.9M | 154.2M | 169.9M |
| Current ratio | 3.30 | 3.31 | 3.13 | 3.28 | 1.54 | 1.71 | 2.29 | 2.69 | 3.70 | 1.27 | 1.51 | 1.47 |
| Quick ratio | 3.05 | 3.02 | 2.89 | 3.00 | 1.34 | 1.43 | 2.07 | 2.42 | 3.35 | 0.97 | 1.26 | 1.20 |
| Debt / equity | 3.25 | 3.17 | 2.70 | 2.63 | 2.76 | 2.63 | 8.31 | 8.78 | 4.84 | — | — | — |
| Equity / assets | 18.8% | 19.5% | 21.6% | 22.3% | 19.0% | 21.1% | 6.1% | 5.5% | 11.4% | −314.2% | −245.0% | −262.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
TEM financial position
At the end of fiscal 2025 (December 31, 2025), Tempus AI had total assets of $2.3 billion (up 145.6% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $491.3 million. It held $755.0 million in cash and short-term investments against $1.3 billion of debt, net debt of $572.1 million. Its current ratio was 3.13. In the latest quarter (ended June 30, 2026) total assets were $2.4 billion and equity $444.9 million.
Related: TEM income statement, TEM cash flow statement, TEM key metrics. See the TEM stock overview for the latest quote and news.
TEM balance sheet FAQ
What are Tempus AI's total assets?
Tempus AI reported total assets of $2.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $926.1 million a year earlier.
How much debt does Tempus AI have?
Tempus AI had $1.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.70.
How much cash does Tempus AI have?
Tempus AI held $755.0 million in cash and short-term investments at the end of fiscal 2025; with $1.3 billion of debt that is net debt of $572.1 million.
What is Tempus AI's book value?
Tempus AI's shareholders' equity (book value) was $491.3 million at the end of fiscal 2025, or $2.82 per share.
What is Tempus AI's current ratio?
Tempus AI had current assets of $1.2 billion and current liabilities of $372.4 million, a current ratio of 3.13 (it can cover its short-term obligations).
How much goodwill does Tempus AI have?
Tempus AI carried $825.5 million of goodwill and intangible assets, 36.3% of total assets, at the end of fiscal 2025.