Tempus AI
ConvictionSpeculative
Two engines: (1) Genomics/Diagnostics - reimbursed clinical sequencing tests (oncology NGS, hereditary, MRD, cardiology); (2) Data & Applications - licensing de-identified multimodal oncology data and AI/insights products to pharma and biotech. Razor/razorblade: tests generate the proprietary data asset that the higher-margin data business monetizes.
Revenue
$1.27B FY2025$348.1M Q1 2026; FY2026 guide $1.59-1.60BRev growth
+36.1% YoY Q1 2026+83.4% FY2025 (boosted by Ambry Genetics acquisition); ~25% guided total growth FY2026 (Ambry now in the base, so close to organicGross margin
63.8% GAAP Q1 202665.0% non-GAAP; 60.7% GAAP a year earlier); ~63% FY2025Op margin
Negative - GAAP net loss $125.9)M Q1 2026 and $(245.0)M FY2025; not yet operating-profitableCapex intensity
Moderate/lab-based - sequencers and lab build-out plus capitalized softwarenot a heavy-fab model, but not asset-light software eitherMarket cap
~$10.82BNasdaq: TEM, ~$60.52/sh x ~178.8M sh, 2026-07-06); 52-week range $41.73-$104.32/sh (~$7.5B-$18.7B market capThe read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07; financials per Q1 2026 (qtr ended 2026-03-31, reported 2026-05-05) and FY2025 10-K (filed Feb 2026); price/market cap as of 2026-07-06 close· sign in (free) for the analyst summary; Pro unlocks full intelligence