Abstract

Tempus AI will report quarterly results on May 05, 2026, Post Market; this preview highlights consensus revenue growth expectations, margin trajectory, and adjusted EPS dynamics alongside institutional sentiment.

Market Forecast

The market anticipates that Tempus AI’s current quarter revenue will be 345.46 million US dollars, with a year-over-year increase of 39.22%; the company’s own projections point to adjusted EPS around -0.19 with a year-over-year improvement of 33.08%, and EBIT at approximately -34.41 million US dollars with a year-over-year change of -2.07%. Gross margin and net margin guidance for the current quarter were not provided; last quarter’s gross margin was 64.73%, and net margin was -14.75%. The main business mix last quarter was led by Genomics at 955.38 million US dollars (75.12% contribution), followed by Data and Services at 316.41 million US dollars (24.88% contribution), with the company signaling continued momentum in core testing volumes and enterprise data contracts. The most promising segment is Genomics given scale and contribution, though Data and Services offers incremental growth leverage through higher-margin analytics and platform subscriptions; Genomics revenue was 955.38 million US dollars, and Data and Services was 316.41 million US dollars.

Last Quarter Review

Tempus AI posted last quarter revenue of 367.21 million US dollars (up 82.98% year over year), a gross profit margin of 64.73%, GAAP net profit attributable to the parent company of -54.17 million US dollars, a net profit margin of -14.75%, and adjusted EPS of -0.04 (improving 77.78% year over year). Quarter-on-quarter, net profit improved by 32.28%, supported by positive EBIT of 4.28 million US dollars; on the business side, growth was driven by robust test volumes and expanding enterprise analytics usage. The main business highlights included Genomics revenue of 955.38 million US dollars and Data and Services revenue of 316.41 million US dollars, reflecting a balanced expansion across core and value-added offerings.

Current Quarter Outlook

Main business: Genomics testing and precision medicine enablement

Genomics remains the revenue anchor for Tempus AI, with last quarter’s mix indicating roughly three-quarters of sales coming from clinical and research testing. For the current quarter, the revenue estimate of 345.46 million US dollars implies solid test demand alongside seasonal dynamics, and the year-over-year growth expectation of 39.22% suggests that utilization and ordering patterns remain resilient. The company’s prior gross margin of 64.73% provides a reference point, but mix shifts and reimbursement cadence can influence realized margins. A key driver is volume leverage across laboratory operations and throughput efficiencies, which support margin stability even as the company continues to invest in platform capabilities. Management’s forecast of adjusted EPS at approximately -0.19 reflects continued scaling costs, though the year-over-year improvement signals operating leverage emerging from higher utilization and disciplined spending.

Most promising business: Data and Services monetization

While Genomics is the scale engine, Data and Services maintains attractive margin characteristics and strategic importance, given the potential to compound revenue per account and deepen enterprise ties. With a 24.88% revenue contribution last quarter, this segment’s growth can have an outsized impact on incremental margin due to software and analytics economics. For this quarter, progress will be measured by contract wins, expansion within health systems and biopharma, and uptake of analytics subscriptions. Success here can moderate near-term losses despite elevated investment cycles, and over time it can re-rate the blended margin profile as recurring, higher-margin revenue grows as a share of mix. Investors will look for evidence that data-driven offerings are translating into durable backlog and expanding average revenue per customer.

Key stock price drivers this quarter

Margin trajectory is likely to be the main swing factor for shares, as investors parse the balance between revenue expansion and operating expense growth. The indicated EBIT estimate of -34.41 million US dollars and adjusted EPS of -0.19 suggest continued investment intensity; how this aligns with gross margin stability near the prior 64.73% reference point will shape sentiment. Additionally, updates on enterprise pipeline conversion and any color on pricing or reimbursement in testing can affect expectations for full-year operating leverage. Finally, clarity on the relative contributions of testing versus data-driven revenue will influence the valuation narrative, particularly if management points to improved mix within higher-margin analytics and platform subscriptions.

Analyst Opinions

Recent sell-side commentary skews bullish. Mizuho initiated Tempus AI with an Outperform rating and a 100.00 US dollars target, citing upside from the AI-enabled healthcare platform and expanding commercial opportunities. BTIG reiterated a Buy with a 96.00 US dollars target, emphasizing continued execution and a supportive growth runway. H.C. Wainwright maintained a Buy with a 98.00 US dollars target, highlighting strategic oncology collaborations that can enhance data assets and monetization pathways. Taken together, the ratio of bullish to bearish opinions is 3:0 in favor of bullish views. The majority view emphasizes accelerating top-line expansion, improving adjusted EPS trajectory, and the potential for Data and Services to augment margins as scale improves. These institutions expect a constructive print centered on revenue growth around the mid-to-high 30% range year over year and narrative reinforcement on enterprise data adoption, which, if confirmed, could underpin multiple support.