Tempus AI, Inc. Class A ( (TEM) ) has released its Q3 earnings. Here is a breakdown of the information Tempus AI, Inc. Class A presented to its investors.
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Tempus AI, Inc., a technology company specializing in precision medicine through artificial intelligence, aims to advance patient care by leveraging a vast library of data in the healthcare sector. In its latest earnings report for the third quarter of 2024, Tempus highlighted a significant revenue increase and a strategic acquisition that could broaden its capabilities in genetic testing. The company reported a 33% year-over-year revenue growth reaching $180.9 million, with accelerated growth in its data and services segment at 64.4%. Despite a net loss of $75.8 million, Tempus showed an improvement in adjusted EBITDA, which rose by $14.4 million compared to the previous year. A notable highlight of the report was the announcement of an agreement to acquire Ambry Genetics, aimed at expanding Tempus’ genetic testing capabilities and strengthening its portfolio in hereditary cancer screening and other disease categories. This acquisition aligns with Tempus’ strategy to integrate data for clinical innovation and enhance its offerings across various medical fields. Looking ahead, Tempus forecasts a robust full-year revenue growth of approximately 32%, reflecting confidence in its ongoing strategic initiatives and market position.
