Tempus AI, Inc. reported robust financial results for Q3 2024, with total revenue increasing 33% year-over-year to $180.9 million. Genomics revenue grew 20% to $116.4 million, while Data and services revenue surged 64% to $64.5 million. The company performed approximately 69,000 oncology NGS tests during the quarter, up from 55,700 in Q3 2023.The company continued to invest heavily in research and development, with expenses increasing to $58 million compared to $47.4 million in Q3 2023. Operating expenses rose to $234.5 million from $180.8 million last year, primarily due to $21 million in stock-based compensation and increased personnel costs. Net loss widened to $75.8 million from $53.4 million in Q3 2023.Tempus strengthened its strategic position by announcing the acquisition of Ambry Genetics for $375 million in cash plus 4.8 million shares of Class A common stock. The company also expanded internationally through its joint venture with SoftBank in Japan, contributing $95.2 million to form SB Tempus. The company maintained a strong balance sheet with $388.9 million in cash and cash equivalents as of September 30, 2024.

Tempus AI, Inc. reported robust financial results for Q3 2024, with total revenue increasing 33% year-over-year to $180.9 million. Genomics revenue grew 20% to $116.4 million, while Data and services revenue surged 64% to $64.5 million. The company performed approximately 69,000 oncology NGS tests during the quarter, up from 55,700 in Q3 2023.The company continued to invest heavily in research and development, with expenses increasing to $58 million compared to $47.4 million in Q3 2023. Operating expenses rose to $234.5 million from $180.8 million last year, primarily due to $21 million in stock-based compensation and increased personnel costs. Net loss widened to $75.8 million from $53.4 million in Q3 2023.Tempus strengthened its strategic position by announcing the acquisition of Ambry Genetics for $375 million in cash plus 4.8 million shares of Class A common stock. The company also expanded internationally through its joint venture with SoftBank in Japan, contributing $95.2 million to form SB Tempus. The company maintained a strong balance sheet with $388.9 million in cash and cash equivalents as of September 30, 2024.