TEM

MKT CAP:$9B

Tempus AI, Inc.

Market Cap

$9B

Healthcare·Medical - Healthcare Information Services·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$52.48-$9.88 (-15.85%)

Apr 24, 2026

Company Details

Tempus AI, Inc. operates as a healthcare technology company. It engages in providing next generation sequencing diagnostics, polymerase chain reaction profiling, molecular genotyping, and other anatomic and molecular pathology testing to he...

CEO

Eric Lefkofsky

IPO Date

Jun 14, 2024

Website

www.tempus.com

Key Metrics TTM

Revenue

$1.1B

+72.6% YoY

Net Income

-$204M

EPS (Diluted)

-$1.19

Free Cash Flow

-$248M

Revenue / Share

$6.32

Gross Margin

61.4%

Operating Margin

-21.8%

Net Margin

-18.4%

FCF Margin

-22.4%

P/S

8.3x

P/E

—

Earnings Reports

Q4 2025

May 5, 2026

PENDING

FY 2025

Feb 24, 2026

$1.3B+83.4%EPS -$1.41

Q3 2025

Nov 4, 2025

$334M+84.7%EPS -$0.46

Q2 2025

Aug 8, 2025

$315M+89.6%EPS -$0.25

Q1 2025

May 6, 2025

$256M+75.4%EPS -$0.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$66M	$15M	-$62M
Q2 21	$66M	$15M	-$62M
Q3 21	$52M	$18M	-$65M
Q4 21	$73M	$36M	-$55M
Q4 22	$101M	$48M	-$58M
Q1 23	$116M	$59M	-$54M
Q2 23	$132M	$72M	-$45M
Q3 23	$136M	$74M	-$45M
Q4 23	$148M	$82M	-$52M
Q1 24	$146M	$78M	-$53M
Q2 24	$166M	$76M	-$533M
Q3 24	$181M	$106M	-$54M
Q4 24	$201M	$122M	-$51M
Q1 25	$256M	$155M	-$69M
Q2 25	$315M	$195M	-$62M
Q3 25	$334M	$206M	-$60M

Valuation

Quarter	P/S	P/E
Q1 21	23.8x	—
Q2 21	19.8x	—
Q3 21	19.7x	—
Q4 21	21.8x	—
Q4 22	19.2x	—
Q1 23	16.4x	—
Q2 23	13.3x	—
Q3 23	11.6x	—
Q4 23	10.6x	—
Q1 24	10.0x	—
Q2 24	9.3x	—
Q3 24	10.6x	—
Q4 24	5.9x	—
Q1 25	10.4x	—
Q2 25	11.6x	—
Q3 25	12.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	-$40M	-$42M
Q2 21	-$40M	-$42M
Q3 21	-$68M	-$73M
Q4 21	-$64M	-$66M
Q4 22	-$65M	-$60M
Q1 23	-$66M	-$72M
Q2 23	-$55M	-$65M
Q3 23	-$53M	-$69M
Q4 23	-$40M	-$43M
Q1 24	-$101M	-$107M
Q2 24	-$97M	-$105M
Q3 24	$49M	$49M
Q4 24	-$39M	-$47M
Q1 25	-$106M	-$109M
Q2 25	$44M	$35M
Q3 25	-$120M	-$127M

Capital Expenditures

Quarter	CapEx
Q1 21	$2M
Q2 21	$2M
Q3 21	$5M
Q4 21	$2M
Q4 22	$2M
Q1 23	$6M
Q2 23	$10M
Q3 23	$16M
Q4 23	$3M
Q1 24	$6M
Q2 24	$8M
Q3 24	$43.0K
Q4 24	$8M
Q1 25	$3M
Q2 25	$10M
Q3 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+262.7%	+89.2%
Q2 21	+262.7%	+89.2%
Q3 21	+3.4%	+13.6%
Q4 21	-27.3%	-10.4%
Q4 22	+52.4%	+24.0%
Q1 23	+75.1%	+32.2%
Q2 23	+152.5%	+51.7%
Q3 23	+85.6%	+41.2%
Q4 23	+46.8%	+25.8%
Q1 24	+26.1%	+17.5%
Q2 24	+25.3%	+293.9%
Q3 24	+33.0%	+29.7%
Q4 24	+35.8%	+25.7%
Q1 25	+75.4%	+63.0%
Q2 25	+89.6%	-46.2%
Q3 25	+84.7%	+68.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$279.5K	0.4%
Q2 21	$279.5K	0.4%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$488M	294.2%
Q3 24	$21M	11.6%
Q4 24	$25M	12.4%
Q1 25	$23M	9.0%
Q2 25	$22M	7.1%
Q3 25	$34M	10.2%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 21	$30M	$47M
Q2 21	$30M	$47M
Q3 21	$64M	$50M
Q4 21	$36M	$55M
Q4 22	$42M	$64M
Q1 23	$44M	$69M
Q2 23	$46M	$71M
Q3 23	$47M	$71M
Q4 23	$49M	$85M
Q1 24	$51M	$80M
Q2 24	$146M	$463M
Q3 24	$58M	$101M
Q4 24	$61M	$111M
Q1 25	$69M	$155M
Q2 25	$76M	$181M
Q3 25	$83M	$183M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 21	$422M	$0	$422M
Q3 21	$345M	$0	$345M
Q4 21	$278M	$0	$278M
Q3 22	$369M	$0	$369M
Q4 22	$303M	$0	$303M
Q1 23	$0	$0	$0
Q3 23	$133M	$0	$133M
Q4 23	$166M	$32M	$198M
Q1 24	$80M	$15M	$95M
Q2 24	$479M	$11M	$490M
Q3 24	$388M	$78M	$466M
Q4 24	$341M	$107M	$448M
Q1 25	$152M	$67M	$219M
Q2 25	$186M	$105M	$291M
Q3 25	$656M	$104M	$760M
Q4 25	$605M	$150M	$755M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	63M	+0.2%	+0.4%
Q2 21	63M	0.0%	+0.4%
Q3 21	170M	+169.8%	+170.3%
Q4 21	170M	0.0%	+170.3%
Q4 22	170M	0.0%	+169.8%
Q1 23	170M	0.0%	+169.8%
Q2 23	170M	0.0%	0.0%
Q3 23	170M	0.0%	0.0%
Q4 23	154M	-9.2%	-9.2%
Q1 24	170M	+10.2%	0.0%
Q2 24	154M	-9.2%	-9.2%
Q3 24	166M	+7.4%	-2.5%
Q4 24	162M	-2.1%	+5.2%
Q1 25	171M	+5.2%	+0.4%
Q2 25	173M	+1.7%	+12.5%
Q3 25	175M	+0.9%	+5.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$83.6K	2K
Q1 25	$106.6K	2K
Q2 25	$131.1K	2K
Q3 25	$139.3K	2K

Revenue / Employee