Tempus AI公布2026年二季度业绩并小幅上调全年收入指引

CHICAGO
--(BUSINESS WIRE)--Jul. 30, 2026--
Tempus AI, Inc.
(NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine, today reported financial results for the quarter ended
June 30, 2026
.
“Q2 was another exceptional quarter for us,” said
Eric Lefkofsky
, Founder and CEO of Tempus. “Our strategy is working given the investments we have made in AI over the past several years are driving some of the best growth rates we have seen in our two largest businesses -
Oncology Diagnostics
and
Data Licensing
.”
Second Quarter 2026 Highlights
Total revenue of
$382.5 million
, up 22% year-over-year
Oncology volume growth of 31% year-over-year, up from 28% last quarter
Molecular residual disease (MRD) volume was 9,000 tests, up from 6,500 last quarter
Data Licensing & Modeling
(Insights) revenue up 36% year-over-year
Signed
~$200 million
in new Data and Applications licenses
FDA approved xT Tumor Only which will migrate tissue testing to ADLT pricing
Successfully delivered our first oncology foundation model to AstraZeneca
Completed a
$460 million
offering of 0.0% convertible senior notes due 2032
GAAP net income of
$5.6 million
and Adjusted EBITDA of
$8.0 million
Cash and marketable securities of
$820.7 million
as of
June 30, 2026
Increasing revenue guidance to
$1.595
to
$1.605 billion
for 2026 and expect full year Adjusted EBITDA of
~$65 million
On
July 20, 2026
, Tempus also announced an agreement to acquire Personalis, a leader in the tumor-informed MRD space. “Through our existing collaboration with Personalis, we have already demonstrated the strength of combining highly sensitive MRD technology with our commercial infrastructure,” said
Mr. Lefkofsky
. “With clinical adoption and reimbursement momentum building, we believe we are collectively well positioned to capture this opportunity, which makes this acquisition particularly exciting.”
Second Quarter 2026 Summary Results
Revenue increased 22% year-over-year to
$382.5 million
.
Diagnostics generated
$289.3 million
of revenue, representing 20% year-over-year growth, driven by Oncology volume growth of 31%, offset by Hereditary revenue growth of 5%.
Data and Applications generated
$93.2 million
of revenue, representing 28% year-over-year growth, with Insights growing 36%.
Gross profit increased 26% year-over-year to
$246.5 million
, led by growth in Data and Applications.
Net income was
$5.6 million
, which included
$55.6 million
of stock compensation expense and related employer payroll taxes and
$98.5 million
in unrealized gains on marketable securities, compared to a net loss of
$(42.8 million)
in Q2 of 2025.
Adjusted EBITDA was
$8.0 million
, compared to (
$5.6 million
) in Q2 of 2025.
$820.7 million
in cash and marketable securities as of
June 30, 2026
.
Recent Operational Highlights
Entered into a definitive agreement to acquire Personalis for
$16.25
per share (
~$1.5 billion
enterprise value), tightly integrating its ultrasensitive NeXT Personal® MRD technology into Tempus' diagnostic platform
Received FDA approval for tumor-only xT CDx assay, becoming the first laboratory to hold FDA companion diagnostic (CDx) approval for both tumor-only and tumor-normal comprehensive genomic profiling
Launched digital pathology
IMS Open-Source Consortium
along with
Yale New Haven Hospital
(YNHH) and
Memorial Sloan Kettering Cancer Center
(MSK) to accelerate the democratization and standardization of digital pathology
Introduced Tempus Preview to provide preliminary results for high impact biomarkers within ~24 hours of tissue receipt
Announced a strategic collaboration with the
Keck School of Medicine of USC
to integrate Tempus' AI platform, molecular diagnostics, and clinical trial matching across more than 1.5 million annual patient visits to accelerate precision oncology care
Introduced initial results from and successfully delivered the first version of our foundation model to AstraZeneca
Signed large deals with
BioNTech
, Daiichi Sankyo, Level Set Bio, and
Incyte Pharmaceuticals
, contributing to
~$200 million
in total bookings this quarter
Second Quarter Financial Results
Three Months Ended
June 30
,
2026
2025
Change
(in thousands, except percentages and per share amounts)
(unaudited)
Revenue
$
382,486
$
314,635
22
%
Gross profit
$
246,498
$
195,039
26
%
Loss from operations
$
(75,913
)
$
(61,774
)
23
%
Non-GAAP loss from operations
$
(2,708
)
$
(17,036
)
(84
)%
Net income (loss)
$
5,642
$
(42,843
)
113
%
Non-GAAP net loss
$
(7,726
)
$
(37,327
)
(79
)%
Adjusted EBITDA
$
8,044
$
(5,580
)
244
%
Net income (loss) per share, basic
$
0.03
$
(0.25
)
112
%
Non-GAAP net loss per share, basic
$
(0.04
)
$
(0.22
)
(82
)%
Financial Outlook and Guidance
Tempus is increasing its full year 2026 revenue guidance to
$1.595
to
$1.605 billion
, which represents ~25% annual growth. We continue to expect 2026 Adjusted EBITDA to be
~$65 million
. Guidance assumes no impact from the Personalis transaction, which is expected to close in late Q4 2026 or early 2027.
For additional information on the quarter, including a letter from our CEO and CFO, please visit our investor relations site at
investors.tempus.com
.
Webcast and Conference Call Information
A conference call and webcast will begin today,
July 30, 2026
after market close at
4:30 p.m. Eastern Time
. Interested parties may access details at:
Conference ID: 9053038
United States
-
New York
: (646) 307-1963
USA
&
Canada
- Toll-Free: (800) 715-9871
Live webcast can be accessed
here
The webcast may be accessed on the company’s investor relations website at
investors.tempus.com
. For those unable to listen to the live webcast, a recording will be made available on the company’s website after the event and will be accessible for one year. Visit the investor relations website to find the company’s latest deck, and commentary on the quarter by
Eric Lefkofsky
, Founder and CEO, and
Jim Rogers
, CFO, which will be discussed on the conference call and webcast.
About Tempus
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world’s largest libraries of multimodal data, and an operating system to make that data accessible and useful, Tempus provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com.
Non-GAAP Financial Measures
In addition to the financial information presented in this release in accordance with accounting principles generally accepted in the United States of America (GAAP), Tempus also presents adjusted non-GAAP financial measures.
Non-GAAP gross profit
is defined as GAAP gross profit, excluding stock-based compensation expense and employer payroll tax related to stock-based compensation (collectively, the “stock-based compensation adjustments”).
Non-GAAP gross margin
is defined as gross profit, excluding the stock-based compensation adjustments, as a percentage of revenue.
Non-GAAP operating expenses
are calculated as the sum of technology research and development expense, research and development expense, and selling, general and administrative expense, excluding the stock-based compensation adjustments, acquisition-related expenses, amortization of intangibles due to acquisition, and franchise taxes related to IPO.
Non-GAAP loss from operations
is defined as loss from operations, adjusted to exclude (i) the stock-based compensation adjustments, (ii) acquisition-related expenses, (iii) franchise taxes related to IPO, and (iv) amortization of intangibles due to acquisition.
Non-GAAP net loss
is defined as net income (loss), adjusted to exclude (i) changes in fair value of our marketable equity securities and indemnity-related holdback liabilities, (ii) the stock-based compensation adjustments, (iii) acquisition-related expenses, (iv) amortization of intangibles due to acquisition, (v) losses from equity method investments, (vi) provision for (benefit from) income taxes, (vii) franchise taxes related to IPO, and (viii) amortization of deferred other income from our IP License Agreement with SB Tempus, and (ix) loss on debt extinguishment.
Non-GAAP net loss per share
is defined as non-GAAP net loss divided by weighted average common shares outstanding, basic.
Adjusted EBITDA
is defined as net (income) loss, adjusted to exclude (i) interest income, (ii) interest expense, (iii) depreciation and amortization, (iv) provision for (benefit from) income taxes, (v) losses from equity method investments, (vi) changes in fair value of our marketable equity securities and indemnity-related holdback liabilities, (vii) the stock-based compensation adjustments, (viii) acquisition-related expenses, and (ix) amortization of deferred other income from our IP License Agreement with SB Tempus, (x) franchise taxes related to our IPO, and (xi) loss on debt extinguishment.
Tempus believes these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and they may be used by institutional investors and the analyst community to help them analyze the health of Tempus’ business. In particular, Adjusted EBITDA is a key measurement used by Tempus management to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures.
Tempus does not provide guidance for net (income) loss, the most directly comparable GAAP measure to Adjusted EBITDA, and similarly cannot provide a reconciliation between Tempus’ forecasted Adjusted EBITDA and net loss without unreasonable effort due to the unavailability of reliable estimates for certain components of net loss and the respective reconciliations. These forecasted items are not within Tempus’ control, may vary greatly between periods, and could significantly impact future financial results.
Other Key Metrics
Total Remaining Contract Value (TCV)
is equal to the total potential value of signed contracts and assumes the exercise of all contract options, all discretionary opt-ins, and no early termination. Remaining TCV excludes any revenue recognized to date on these contracts or any future adjustments made to the contractual value as a result of amendments or terminations.
Net Revenue Retention
compares the annual Insights product revenue generated from all customers that made an Insights purchase in one year to the annual Insights product revenue generated from the same cohort of customers in the subsequent year.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about Tempus and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements, including, but not limited to, Tempus’ expected financial results for full year 2026; expectations concerning Tempus' collaborations and partnerships; Tempus' growth expectations; and the pending acquisition of Personalis. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “going to,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Tempus cautions you that the foregoing may not include all of the forward-looking statements made in this press release.
You should not rely on forward-looking statements as predictions of future events. Tempus has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends that it believes may affect Tempus’ business, financial condition, results of operations and prospects. These forward-looking statements are subject to risks and uncertainties related to: the intended use of Tempus’ products and services; Tempus’ financial performance; the ability to attract and retain customers and partners; managing Tempus’ growth and future expenses; competition and new market entrants; compliance with new laws, regulations and executive actions, including any evolving regulations in the artificial intelligence space; the ability to maintain, protect and enhance Tempus’ intellectual property; the ability to attract and retain qualified team members and key personnel; the ability to repay or refinance outstanding debt, or to access additional financing; future acquisitions, divestitures or investments, including Tempus' ability to consummate the acquisition of Personalis on the contemplated terms or at all and Tempus’ ability to realize the expected benefits of the acquisition of Paige AI, Ambry Genetics, Deep 6 AI and, if consummated, Personalis; the potential adverse impact of climate change, natural disasters, health epidemics, macroeconomic conditions, trade tensions and tariffs, and war or other armed conflict, as well as risks, uncertainties, and other factors described in the section titled “Risk Factors” in Tempus’ Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“the SEC”) on February 24, 2026, as well as in other filings Tempus may make with the SEC from time to time. In addition, any forward-looking statements contained in this press release are based on assumptions that Tempus believes to be reasonable as of this date. Tempus undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Tempus AI, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
(in thousands, except per share amounts)
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Net revenue
Diagnostics
(1)
$
289,333
$
241,843
$
550,431
$
435,647
Data and applications
(2)
93,153
72,792
180,171
134,725
Total net revenue
$
382,486
$
314,635
$
730,602
$
570,372
Cost and operating expenses
Cost of revenues, diagnostics
108,233
99,756
209,193
184,539
Cost of revenues, data and applications
27,755
19,840
52,870
35,591
Technology research and development
43,929
34,482
89,850
67,873
Research and development
52,637
41,619
100,874
77,493
Selling, general and administrative
225,845
180,712
438,439
335,339
Total cost and operating expenses
458,399
376,409
891,226
700,835
Loss from operations
$
(75,913
)
$
(61,774
)
$
(160,624
)
$
(130,463
)
Interest income
3,897
1,093
7,763
2,906
Interest expense
(10,283
)
(21,579
)
(24,624
)
(39,582
)
Loss on debt extinguishment
(11,643
)
—
(11,643
)
—
Other income, net
102,757
41,729
75,048
14,274
Income (loss) before (provision for) benefit from income taxes
$
8,815
$
(40,531
)
$
(114,080
)
$
(152,865
)
(Provision for) benefit from income taxes
(309
)
(212
)
(247
)
45,968
Losses from equity method investments
(2,864
)
(2,100
)
(5,950
)
(3,983
)
Net income (loss)
$
5,642
$
(42,843
)
$
(120,277
)
$
(110,880
)
Net income (loss) per share
Basic
$
0.03
$
(0.25
)
$
(0.67
)
$
(0.64
)
Diluted
$
0.03
$
(0.25
)
$
(0.67
)
$
(0.64
)
Weighted-average shares outstanding used to compute net income (loss) per share
Basic
179,917
173,381
179,404
171,960
Diluted
182,397
173,381
179,404
171,960
Comprehensive income (loss), net of tax
Net income (loss)
$
5,642
$
(42,843
)
$
(120,277
)
$
(110,880
)
Foreign currency translation adjustment
(1,033
)
3,756
(2,843
)
8,354
Comprehensive income (loss)
$
4,609
$
(39,087
)
$
(123,120
)
$
(102,526
)
(1)
Includes related party revenue of
$40
and
$0
for the three months ended
June 30, 2026
and 2025, respectively. Includes related party revenue of
$190
and
$1
for the six months ended
June 30, 2026
and 2025, respectively.
(2)
Includes related party revenue of
$21,984
and
$15,908
for the three months ended
June 30, 2026
and 2025, respectively. Includes related party revenue of
$43,657
and
$16,538
for the six months ended
June 30, 2026
and 2025, respectively.
Tempus AI, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share and per share amounts)
June 30, 2026
December 31, 2025
Assets
Current Assets
Cash and cash equivalents
$
599,614
$
604,787
Accounts receivable
(1)
, net of allowances of
$2,794
and
$2,755
at
June 30, 2026
and
December 31, 2025
, respectively
360,924
311,170
Inventory
53,512
51,724
Related party asset
17,500
8,785
Prepaid expenses and other current assets
42,938
40,498
Marketable equity securities
216,377
150,211
Total current assets
$
1,290,865
$
1,167,175
Property and equipment, net
89,066
89,156
Goodwill
470,166
470,211
Intangible assets, net
312,457
349,202
Capitalized software, net
19,772
6,051
Investments and other assets
17,164
21,111
Investment in joint venture
77,811
86,557
Investment in related party
8,750
—
Related party asset, less current portion
14,583
16,215
Operating lease right-of-use assets
60,553
64,496
Restricted cash
4,724
4,664
Total Assets
$
2,365,911
$
2,274,838
Liabilities, Convertible redeemable preferred stock, and Stockholders' equity
Current Liabilities
Accounts payable
73,818
81,994
Related party payable
10,000
—
Accrued expenses
181,271
155,370
Deferred revenue
(2)
87,251
92,673
Deferred other income
15,955
15,955
Other current liabilities
8,293
8,680
Operating lease liabilities
12,192
13,355
Accrued data licensing fees
2,712
4,361
Total current liabilities
$
391,492
$
372,388
Operating lease liabilities, less current portion
71,266
74,272
Convertible promissory note
187,929
208,672
Other long-term liabilities
56,270
56,600
Revolving credit facility
—
100,000
Interest payable
19,155
12,393
Long-term debt, net
—
202,753
Convertible senior notes, net
1,172,781
728,078
Deferred other income, less current portion
—
7,977
Deferred revenue, less current portion
22,084
20,379
Total Liabilities
$
1,920,977
$
1,783,512
(1)
Includes related party accounts receivable of
$10,924
and
$6,428
as of
June 30, 2026
and
December 31, 2025
, respectively.
(2)
Includes related party deferred revenue of
$403
and
$3,938
as of
June 30, 2026
and
December 31, 2025
, respectively.
Tempus AI, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share and per share amounts)
Commitments and contingencies (Note 8)
Convertible redeemable preferred stock,
$0.0001
par value, 20,000,000 shares authorized at
June 30, 2026
and
December 31, 2025
, respectively, no shares issued and outstanding at
June 30, 2026
and
December 31, 2025
$
—
$
—
Stockholders' equity
Class A Common Stock,
$0.0001
par value, 1,000,000,000 shares authorized at
June 30, 2026
and
December 31, 2025
, respectively; 175,200,077 and 173,235,428 shares issued and outstanding at
June 30, 2026
and
December 31, 2025
, respectively
18
17
Class B Common Stock,
$0.0001
par value, 5,500,000 shares authorized at
June 30, 2026
and
December 31, 2025
, respectively; 5,043,789 issued and outstanding at
June 30, 2026
and
December 31, 2025
, respectively
1
1
Treasury Stock, 183,229 shares at
June 30, 2026
and
December 31, 2025
, respectively, at cost
(6,642
)
(6,642
)
Additional Paid-In Capital
2,969,637
2,892,910
Accumulated Other Comprehensive (Loss) Income
(1,941
)
902
Accumulated deficit
(2,516,139
)
(2,395,862
)
Total Stockholders' equity
$
444,934
$
491,326
Total Liabilities, Convertible redeemable preferred stock, and Stockholders' equity
$
2,365,911
$
2,274,838
Tempus AI, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in thousands, except per share amounts)
Six Months Ended
June 30
,
2026
2025
Operating activities
Net loss
$
(120,277
)
$
(110,880
)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation
106,827
45,429
Gain on marketable equity securities
(66,166
)
(6,007
)
Loss on disposal of property and equipment
375
—
Deferred income taxes
—
(46,216
)
Losses from equity method investments
5,950
3,983
Amortization of original issue discount
3,125
1,169
Amortization of deferred financing fees
194
332
Change in fair value of holdback liability
(94
)
312
Loss on debt extinguishment
11,643
—
Depreciation and amortization
52,161
48,385
Provision for bad debt expense
866
625
Provision for obsolete inventory
400
—
Non-cash operating lease costs
6,896
4,573
Minimum accretion expense
88
108
PIK interest added to principal
1,674
7,157
Change in assets and liabilities
Accounts receivable
(1)
(50,565
)
(49,155
)
Inventory
(2,188
)
1,974
Prepaid expenses and other current assets
(2,440
)
(188
)
Investments and other assets
960
(11,073
)
Accounts payable
(30,225
)
7,025
Related party asset
2,917
—
Deferred revenue
(2)
(12,467
)
36,836
Deferred other income
(7,977
)
(7,977
)
Accrued data licensing fees
(1,568
)
3,957
Accrued expenses & other
19,941
6,991
Interest payable
6,270
7,122
Operating lease liabilities
(7,122
)
(5,942
)
Net cash used in operating activities
$
(80,802
)
$
(61,460
)
(1)
Includes increase in related party accounts receivable of
$4,496
for the six months ended
June 30, 2026
. Includes decrease in related party accounts receivable of
$2,089
for the six months ended
June 30, 2025
.
(2)
Includes decrease in related party deferred revenue of
$3,535
for the six months ended
June 30, 2026
. Includes increase in related party deferred revenue of
$36,685
for the six months ended
June 30, 2025
.
Tempus AI, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in thousands, except per share amounts)
Six Months Ended
June 30
,
2026
2025
Investing activities
Purchases of property and equipment
$
(14,327
)
$
(9,588
)
Proceeds from sale of marketable equity securities
—
8,316
Business combinations, net of cash acquired (Note 4)
—
(380,762
)
Capitalized software costs
(6,832
)
(3,295
)
Net cash used in investing activities
$
(21,159
)
$
(385,329
)
Financing activities
Proceeds from convertible senior notes, net of initial purchasers' discount
443,132
—
Principal payments on long-term debt
(207,717
)
—
Principal payments on revolving credit facility
(100,000
)
—
Prepayment premium on long-term debt
(6,433
)
—
Payment of deferred offering costs
(147
)
—
Purchases of capped call
(31,234
)
—
Proceeds from revolving credit facility, net of original issue discount
—
98,000
Proceeds from long-term debt, net of original issue discount
—
196,000
Payment of deferred financing fees
(751
)
(958
)
Net cash provided by financing activities
$
96,850
$
293,042
Effect of foreign exchange rates on cash
$
(2
)
$
(37
)
Net decrease in Cash, Cash Equivalents and Restricted Cash
$
(5,113
)
$
(153,784
)
Cash, cash equivalents and restricted cash, beginning of period
609,451
341,835
Cash, cash equivalents and restricted cash, end of period
$
604,338
$
188,051
Cash, Cash Equivalents and Restricted Cash are Comprised of:
Cash and cash equivalents
$
599,614
$
186,310
Restricted cash and cash equivalents
4,724
1,741
Total cash, cash equivalents and restricted cash
$
604,338
$
188,051
Supplemental disclosure of cash flow information
Cash paid during the year for interest
$
12,299
$
23,980
Cash paid for income taxes
$
247
$
136
Preferred stock received on accounts receivable
(3)
$
8,750
$
—
Supplemental disclosure of noncash investing and financing activities
Purchases of property and equipment, accrued but not paid
$
6,106
$
6,863
Redemption of convertible promissory note
$
20,743
$
14,338
Deferred financing fees, accrued but not yet paid
$
726
$
545
Deferred offering costs, accrued but not yet paid
$
129
$
95
Operating lease liabilities arising from obtaining right-of-use assets
$
360
$
606
Capitalized software costs, accrued but not yet paid
$
6,564
$
—
Class A Common Stock issued in connection with business combinations
$
—
$
310,320
Convertible promissory note principal reset due to amendment
$
—
$
72,488
(3)
Includes related party preferred stock of
$8,750
for the six months ended
June 30, 2026
.
Tempus AI, Inc.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited)
(in thousands, except percentages and per share amounts)
Diagnostics Gross Profit & Gross Margin
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Diagnostics revenue
$
289,333
$
241,843
$
550,431
$
435,647
Cost of revenues, diagnostics
108,233
99,756
209,193
184,539
Gross profit, diagnostics
$
181,100
$
142,087
$
341,238
$
251,108
Stock-based compensation expense
3,636
1,420
5,758
2,455
Employer payroll tax related to stock-based compensation
124
254
458
302
Non-GAAP gross profit, diagnostics
$
184,860
$
143,761
$
347,454
$
253,865
Diagnostics gross margin
62.6
%
58.8
%
62.0
%
57.6
%
Stock-based compensation expense
1.3
%
0.6
%
1.0
%
0.6
%
Employer payroll tax related to stock-based compensation
0.0
%
0.1
%
0.1
%
0.1
%
Non-GAAP gross margin, diagnostics
63.9
%
59.4
%
63.1
%
58.3
%
Data and applications Gross Profit & Gross Margin
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Data and applications revenue
$
93,153
$
72,792
$
180,171
$
134,725
Cost of revenues, data and applications
27,755
19,840
52,870
35,591
Gross profit, data and applications
$
65,398
$
52,952
$
127,301
$
99,134
Stock-based compensation expense
968
693
2,521
1,304
Employer payroll tax related to stock-based compensation
53
114
237
158
Non-GAAP gross profit, data and applications
$
66,419
$
53,759
$
130,059
$
100,596
Gross margin, data and applications
70.2
%
72.7
%
70.7
%
73.6
%
Stock-based compensation expense
1.0
%
1.0
%
1.4
%
1.0
%
Employer payroll tax related to stock-based compensation
0.1
%
0.2
%
0.1
%
0.1
%
Non-GAAP gross margin, data and applications
71.3
%
73.9
%
72.2
%
74.7
%
Total Gross Profit & Gross Margin
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Net revenue
$
382,486
$
314,635
$
730,602
$
570,372
Cost of revenues
135,988
119,596
262,063
220,130
Gross profit
$
246,498
$
195,039
$
468,539
$
350,242
Stock-based compensation expense
4,604
2,113
8,279
3,759
Employer payroll tax related to stock-based compensation
177
369
695
460
Non-GAAP gross profit
$
251,279
$
197,521
$
477,513
$
354,461
Gross margin
64.4
%
62.0
%
64.1
%
61.4
%
Stock-based compensation expense
1.2
%
0.7
%
1.1
%
0.7
%
Employer payroll tax related to stock-based compensation
0.0
%
0.1
%
0.1
%
0.1
%
Non-GAAP gross margin
65.7
%
62.8
%
65.4
%
62.1
%
Operating Expenses
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Technology research and development
$
43,929
$
34,482
$
89,850
$
67,873
Stock-based compensation expense
8,641
3,285
18,147
6,604
Employer payroll tax related to stock-based compensation
358
495
1,170
756
Non-GAAP technology research and development
$
34,930
$
30,702
$
70,533
$
60,513
Research and development
$
52,637
$
41,619
$
100,874
$
77,493
Stock-based compensation expense
5,287
2,335
9,852
4,317
Employer payroll tax related to stock-based compensation
248
235
731
411
Non-GAAP research and development
$
47,102
$
39,049
$
90,291
$
72,765
Selling, general and administrative
$
225,845
$
180,712
$
438,439
$
335,339
Stock-based compensation expense
35,589
14,722
70,549
30,749
Employer payroll tax related to stock-based compensation
711
774
2,456
5,499
Acquisition related expenses
(1)
990
1,992
986
5,521
Amortization of intangibles due to acquisition
16,601
16,771
33,472
27,927
Franchise taxes related to IPO
—
1,647
—
1,647
Non-GAAP selling, general and administrative
$
171,954
$
144,806
$
330,976
$
263,996
Operating expenses
$
322,411
$
256,813
$
629,163
$
480,705
Stock-based compensation expense
49,517
20,342
98,548
41,670
Employer payroll tax related to stock-based compensation
1,317
1,504
4,357
6,666
Acquisition related expenses
(1)
990
1,992
986
5,521
Amortization of intangibles due to acquisition
16,601
16,771
33,472
27,927
Franchise taxes related to IPO
—
1,647
—
1,647
Non-GAAP operating expenses
$
253,986
$
214,557
$
491,800
$
397,274
(1)
Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions during the three and six months ended
June 30, 2026
and 2025.
Loss from Operations
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Loss from operations
$
(75,913
)
$
(61,774
)
$
(160,624
)
$
(130,463
)
Stock-based compensation expense
54,121
22,455
106,827
45,429
Employer payroll tax related to stock-based compensation
1,493
1,873
5,051
7,126
Acquisition related expenses
(1)
990
1,992
986
5,521
Franchise taxes related to IPO
—
1,647
—
1,647
Amortization of intangibles due to acquisition
16,601
16,771
33,472
27,927
Non-GAAP loss from operations
$
(2,708
)
$
(17,036
)
$
(14,288
)
$
(42,813
)
(1)
Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions during the three and six months ended
June 30, 2026
and 2025.
Earnings per Share
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Net income (loss)
$
5,642
$
(42,843
)
$
(120,277
)
$
(110,880
)
Fair value changes
(1)
(97,401
)
(37,546
)
(66,260
)
(5,696
)
Stock-based compensation expense
54,121
22,455
106,827
45,429
Employer payroll tax related to stock-based compensation
1,493
1,873
5,051
7,126
Acquisition related expenses
(2)
990
1,992
986
5,521
Amortization of intangibles due to acquisition
16,601
16,771
33,472
27,927
Losses from equity method investments
2,864
2,100
5,950
3,983
Provision for (benefit from) income taxes
309
212
247
(45,968
)
Franchise taxes related to IPO
—
1,647
—
1,647
Amortization of technology license
(3,988
)
(3,988
)
(7,977
)
(7,977
)
Loss on debt extinguishment
11,643
—
11,643
—
Non-GAAP net loss
$
(7,726
)
$
(37,327
)
$
(30,338
)
$
(78,888
)
Non-GAAP net loss per share, basic
$
(0.04
)
$
(0.22
)
$
(0.17
)
$
(0.46
)
Weighted average common shares outstanding, basic
179,917
173,381
179,404
171,960
(1)
Fair value changes include gains and losses related to quarterly fair value adjustments of our marketable equity securities and indemnity-related holdback liabilities.
(2)
Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions during the three and six months ended
June 30, 2026
and 2025.
Adjusted EBITDA
Three Months Ended
June 30
,
Six Months Ended
June 30
,
2026
2025
2026
2025
Net income (loss)
$
5,642
$
(42,843
)
$
(120,277
)
$
(110,880
)
Interest income
(3,897
)
(1,093
)
(7,763
)
(2,906
)
Interest expense
10,283
21,579
24,624
39,582
Depreciation
7,125
8,347
14,550
16,230
Amortization
18,860
19,685
37,610
32,155
Provision for (benefit from) income taxes
309
212
247
(45,968
)
EBITDA
$
38,322
$
5,887
$
(51,009
)
$
(71,787
)
Losses from equity method investments
2,864
2,100
5,950
3,983
Fair value changes
(1)
(97,401
)
(37,546
)
(66,260
)
(5,696
)
Stock-based compensation expense
54,121
22,455
106,827
45,429
Employer payroll tax related to stock-based compensation
1,493
1,873
5,051
7,126
Acquisition related expenses
(2)
990
1,992
986
5,521
Amortization of technology license
(3,988
)
(3,988
)
(7,977
)
(7,977
)
Franchise taxes related to IPO
—
1,647
—
1,647
Loss on debt extinguishment
11,643
—
11,643
—
Adjusted EBITDA
$
8,044
$
(5,580
)
$
5,211
$
(21,754
)
(1)
Fair value changes include gains and losses related to quarterly fair value adjustments of our marketable equity securities and indemnity-related holdback liabilities.
(2)
Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions during the three and six months ended
June 30, 2026
and 2025.
View source version on
businesswire.com
:
https://www.businesswire.com/news/home/20260730328545/en/
Investors
Elizabeth Krutoholow
Kendra Webster
investorrelations@tempus.com
Media
Kelli Manalli
media@tempus.com
Source:
Tempus AI, Inc.