Tempus AI Reports Strong Growth for Fourth Quarter and Full Year
Tempus AI, Inc. Unveils Preliminary Financial Results
Tempus AI, Inc. (NASDAQ: TEM), an innovator in the application of artificial intelligence for precision medicine, recently announced its preliminary financial results for the fourth quarter and full year ending December 31, 2024. The company is at the forefront of leveraging advanced technologies to enhance patient care and optimize healthcare delivery.
Impressive Growth in Financial Performance
According to the preliminary results, Tempus reported a robust revenue of approximately $693 million for the full year 2024, witnessing an impressive growth rate of about 30% compared to the previous year. This highlights the company's increasing dominance in the healthcare technology sector.
Fourth Quarter Highlights
In the fourth quarter alone, Tempus generated around $200 million in revenue, marking a significant increase of approximately 35% year-over-year. This solid performance underscores consistent improvement in the company’s adjusted EBITDA, reinforcing its operational strength.
CEO Eric Lefkofsky's Insights
Eric Lefkofsky, the Founder and CEO of Tempus, expressed his satisfaction with the results, stating, "We concluded 2024 with continued strength in our core businesses. Genomics revenue is expected to grow at ~30% in Q4, and data and services revenue is expected to grow at ~45%. We expect to deliver ~99% of our revenue guidance for 2024 and ~100% of our adjusted EBITDA guidance." This reflects not only the solid performance of the company's core sectors but also the potential for future growth.
Upcoming Presentations and Future Outlook
This announcement comes just before the company’s presentation at a significant healthcare conference, showcasing Tempus' commitment to transparency and investor engagement. The company plans to provide a live webcast of its presentation and will disclose an updated investor deck, including insights about the anticipated closing of its acquisition of Ambry, on its investor relations website.
Preliminary Financial Statements
It is important to note that Tempus has not finalized its financial statements for the fourth quarter or full year 2024. The estimates mentioned are preliminary and unaudited, meaning they could be subject to significant changes as the company completes its annual reporting procedures. Tempus is diligently working on its customary year-end close and review procedures.
About Tempus AI, Inc.
Tempus is revolutionizing precision medicine through the combination of cutting-edge artificial intelligence and extensive multimodal data libraries. The company aims to empower healthcare providers with AI-driven solutions that facilitate personalized care for patients while enhancing the discovery and development of effective therapeutic options. Tempus believes in harnessing the learnings from previous patients to improve future outcomes.
Understanding Non-GAAP Financial Measures
Alongside standard financial measures adhering to GAAP, Tempus also utilizes a non-GAAP financial metric known as Adjusted EBITDA. This metric is adjusted to exclude various factors, providing a clearer perspective on its operational efficiency and growth potential. Investors and analysts regard this measure as vital for understanding the company's underlying performance.
Frequently Asked Questions
What were Tempus' reported revenues for 2024?
Tempus reported approximately $693 million in revenue for the full year 2024, reflecting a 30% growth year-over-year.
How did the fourth quarter perform compared to last year?
The fourth quarter saw revenues of about $200 million, which is a 35% increase compared to the same quarter last year.
What did Eric Lefkofsky say about the company's performance?
He highlighted strong results in core businesses, with significant growth in genomics and data services revenue, indicating the company is on track to meet its financial guidance.
Will Tempus provide complete financial results soon?
Yes, Tempus plans to report its full fourth quarter and full year 2024 financial results during its first earnings call of 2025.
What is Tempus' focus in the healthcare industry?
Tempus is focused on advancing precision medicine through artificial intelligence, making multimodal data accessible to enhance patient outcomes and revolutionize healthcare delivery.
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