Tempus AI (TEM, Financials) announced preliminary, unaudited financial results for 2024, reporting annual revenue of $693 million, a 30% year-over-year increase, and fourth-quarter revenue of $200 million, up 35%. Shares of Tempus fell 14.1% to $32.24 by 3:36 p.m. EST Monday, a $5.28 drop from the previous close.
While fourth-quarter income hit $200 million, showing 35% growth, the business said that yearly sales reached around $693 million, a 30% year-over-year rise.
Strong success in its core businesses—including genomics revenue, which rose over 30% in the fourth quarter—as well as data and services revenue, which climbed by almost 45%, helped the firm explain its revenue surge.
Despite softness in the contract research organization revenues, core businesses gained momentum throughout the year, Tempus founder and CEO Eric Lefkofsky said in the statement.
Tempus underlined that although the firm finishes its year-end financial assessment, the numbers are just preliminary and unaudited; they will inevitably alter. During its first earnings call of 2025, the business intends to finish and present these findings.
The company's announcement also contained information on its planned Ambry Genetics purchase. According to the announcement, Tempus is slated to offer further specifics during the 43rd Annual J.P. Morgan Healthcare Conference.
Tempus bills itself as promoting artificial intelligence-based precision medicine.
