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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dan Brennan | TD Cowen | 6 (0%) |
| Subbu Nambi | Guggenheim | 6 (0%) |
| Dan Arias | Stifel | 5 (0%) |
| Mark Massaro | BTIG | 5 (20%) |
| Mark Schappel | Loop Capital | 5 (0%) |
| Casey Woodring | JPMorgan | 4 (0%) |
| Ryan MacDonald | Needham | 4 (0%) |
| Kyle Mikson | Canaccord Genuity | 3 (0%) |
| Andrew Brackmann | William Blair | 3 (0%) |
| Kallum Titchmarsh | Morgan Stanley | 3 (33%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| TD Cowen | 2 | 7 (0%) |
| Guggenheim | 2 | 7 (0%) |
| Morgan Stanley | 3 | 6 (17%) |
| JPMorgan | 2 |
| 6 (17%) |
| Needham | 2 | 6 (0%) |
| Loop Capital | 1 | 5 (0%) |
| BTIG | 1 | 5 (20%) |
| Stifel | 1 | 5 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $201M | +35.8% | $-0.08 | +81.8% | -25.3% | -6.5% | $-47M |
| FY2025 Q1 | $256M | +75.4% | $-0.40 | +27.3% | -26.9% | -26.6% | $-109M |
| FY2025 Q2 | $315M | +89.6% | $-0.25 | +93.2% | -19.6% | -13.6% | $35M |
| FY2025 Q3 | $334M | +84.7% | $-0.46 | 0.0% | -18.3% | -23.9% | $-128M |
| FY2025 Q4 | $367M | +83.0% | $-0.30 | -273.6% | -16.7% | -14.8% | $-43M |
| FY2026 Q1 | $348M | +36.1% | $-0.71 | -77.5% | -24.3% | -36.2% | $-83M |
| FY2026 Q2 | $382M | +21.6% | $0.03 | +112.0% | -19.8% | 1.5% | $-19M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Tempus opened 2026 with revenue of $348.1 million, up a little over 36% year-over-year, led by Diagnostic revenue of $261.1 million (almost 35% growth) on roughly 28% Oncology unit growth. The data and applications business grew 40.5% to $87 million with Insights data licensing up over 44%, and the company signed a very large strategic collaboration with Merck and expanded its Gilead relationship, marking a third straight quarter of bookings above $100 million. Management raised full year 2026 guidance to a range of $1.59 billion to $1.6 billion with about $65 million of adjusted EBITDA. Hereditary slowed as it laps extreme prior-year growth but is expected to return to mid-teens in the second half, and management sees roughly $500 of ASP upside over the next year or two as its assays gain FDA approval.
Revenue Growth | Demand | Guidance Reliability | Innovation & R&D | Product Launch | Pricing | M&A | Cloud & AI | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 1 | 4 | 2 | 1 | 2 | 3 | |
| 2025Q1 | 4 | 3 | 1 | 2 | 2 | 1 | 1 | 1 |
| 2025Q2 | 4 | 4 | 1 | 1 | 1 | 2 | 1 | |
| 2025Q3 | 3 | 4 | 2 | 3 | 2 | 1 | 1 | 1 |
| 2025Q4 | 5 | 3 | 1 | 2 | 3 | 2 | 1 | 2 |
| 2026Q1 | 2 | 1 | 2 | 1 | 2 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4 | 4 | 4 | 3 | 5 | 2 |
| Demand | 1 | 3 | 4 | 4 | 3 | 1 |
| Guidance Reliability | 4 | 1 | 1 | 2 | 1 | 2 |
| Innovation & R&D | 2 | 2 | 1 | 3 | 2 | 1 |
| Product Launch | 1 | 2 | 2 | 3 | 2 | |
| Pricing | 2 | 1 | 1 | 1 | 2 | 2 |
| M&A | 3 | 1 | 2 | 1 | 1 | |
| Cloud & AI | 1 | 1 | 1 | 2 | 2 |
What TEM and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“This complements our recently expanded collaboration with Tempus AI designed to advance our precision oncology strategy”
Merck expanded its Tempus AI collaboration for precision oncology.
“we have very large collaborations with people like AstraZeneca, GSK, and BMS.”
Bristol Myers Squibb is named among Tempus's very large strategic data collaborations, a read-through on continued BMS spend on oncology data licensing.
“Gilead is a bit -- it's a bit different. It's quite large, smaller than Merck, but quite large”
Gilead expanded its Tempus data relationship in a significant step-up from historic levels, signaling growing Gilead investment in oncology data.
“This quarter alone, we added Merck, who signed a very large strategic collaboration with us.”
Merck signed a large strategic data and modeling collaboration with Tempus, a read-through that Merck is investing meaningfully in de-identified oncology data and AI for its R&D.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
TEM Tempus AI, Inc. | 9 | +36.1% | |
| GEHC GE HealthCare | 4 | +7.4% | |
| VEEV Veeva Systems Inc. | 9 | +16.0% |