Tempus AI, Inc. reported strong revenue growth for Q2 2024, with total revenue increasing 25% year-over-year to $166.0 million. Genomics revenue grew 22% to $112.3 million driven by higher oncology NGS test volumes, while Data and services revenue rose 32% to $53.6 million on increased demand for Insights products. The company completed approximately 66,500 oncology NGS tests in Q2, up from 55,300 in Q2 2023.The company reported a net loss of $552.2 million for Q2 2024, compared to a $55.8 million loss in Q2 2023, primarily due to $488.3 million in stock-based compensation expense recognized upon completion of its June 2024 IPO. Operating expenses increased significantly to $699.5 million from $177.6 million last year, mainly reflecting the IPO-related compensation charges. Adjusted EBITDA loss improved to $31.2 million from $37.0 million in Q2 2023.In June 2024, Tempus completed its IPO, raising net proceeds of $382.0 million through the sale of 11.1 million shares at $37 per share. The company also formed a joint venture in Japan with SoftBank, initially capitalized with ¥30 billion split evenly between the parties. As of June 30, 2024, Tempus had cash and cash equivalents of $479.7 million and total debt of $448.6 million.

Tempus AI, Inc. reported strong revenue growth for Q2 2024, with total revenue increasing 25% year-over-year to $166.0 million. Genomics revenue grew 22% to $112.3 million driven by higher oncology NGS test volumes, while Data and services revenue rose 32% to $53.6 million on increased demand for Insights products. The company completed approximately 66,500 oncology NGS tests in Q2, up from 55,300 in Q2 2023.The company reported a net loss of $552.2 million for Q2 2024, compared to a $55.8 million loss in Q2 2023, primarily due to $488.3 million in stock-based compensation expense recognized upon completion of its June 2024 IPO. Operating expenses increased significantly to $699.5 million from $177.6 million last year, mainly reflecting the IPO-related compensation charges. Adjusted EBITDA loss improved to $31.2 million from $37.0 million in Q2 2023.In June 2024, Tempus completed its IPO, raising net proceeds of $382.0 million through the sale of 11.1 million shares at $37 per share. The company also formed a joint venture in Japan with SoftBank, initially capitalized with ¥30 billion split evenly between the parties. As of June 30, 2024, Tempus had cash and cash equivalents of $479.7 million and total debt of $448.6 million.