Tempus Ai, Inc. · NASDAQ:TEM
Tempus Ai — Q2 2026 Earnings Presentation
26 slides from Tempus Ai's earnings presentation, Jul 30, 2026
Slide 1: Q2’26 Financial Results
Q2’26 Financial Results July 30, 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect Tempus AI, Inc.’s (the “Company” or “Tempus”) current expectations and projections with respect to, among other things, its financial condition, results of operations, plans, objectives, future performance and business. For
Slide 3: Tempus has built the operating system for precision medicine
Tempus has built the operating system for precision medicine Tempus’ moat is built on embedded integrations, proprietary multi-modal data, and continuously expanding outcome-linked datasets enhanced Insights delivered to point of care through the connection between its AI Actionable intelligence pla
Slide 4: Precision medicine powered by diagnostic intelligence
Precision medicine powered by diagnostic intelligence Clinical Testing EHR Integrations Research AI & Technology Leveraging our broad portfolio Embedding diagnostic Converting multimodal patient Deploying advanced technologies of assays to ensure the right intelligence directly into health data into
Slide 5: Our Diagnostics business is comprehensive and spans hereditary risk, therapy selection, and MRD & monitoring
Our Diagnostics business is comprehensive and spans hereditary risk, therapy selection, and MRD & monitoring, fueling our models with longitudinal data Therapy selection Tailored testing* Hereditary risk xT, xF Tissue + Liquid Biopsy HRD UGT1A1 DPYD MRD & disease assessment IPS TO PurIST™ MMR xR DNA
Slide 6: Data generated through Diagnostics creates a virtuous cycle of AI-enabled intelligence
Data generated through Diagnostics creates a virtuous cycle of AI-enabled intelligence As more clinicians use our AI Applications they contribute more data to our platform, creating a self-reinforcing cycle of intelligence. Data Foundation Applications Model This network effect has led to compoundin
Slide 7: Q2’26 Financial Results
‘TEMPUS Q2’26 Financial Results
Slide 8: Q2’26 Financial Highlights
Q2’26 Financial Highlights $382.5M $8.0M 31% 28% Total revenue Adj. EBITDA Oncology Volume Data & Applications Growth Growth 22% Growth YoY 244% Improvement YoY Gross profit increased 26% to $246.5 million led by growth in Data & Applications Net income of $5.6 million compared to a net loss of ($42.
Slide 9: Q2 Revenue delivers 22% growth
Q2 Revenue delivers 22% growth 22% $382.5M Data and Applications $314.6M Oncology Hereditary Life Sciences/ Research Q2 2025 Q2 2026 9
Slide 10: Diagnostics drives growth with revenue and Oncology volume expansion
Diagnostics drives growth with revenue and Oncology volume expansion Oncology Volume Oncology and Hereditary achievements fueling Diagnostics growth ~96,500 Q2 Diagnostics Highlights ~73,500 ● 31% YoY Oncology volume growth, 20% YoY Diagnostics revenue growth ● Received FDA approval for tumor-only x
Slide 11: MRD volumes accelerate and provide long-term growth opportunity
MRD volumes accelerate and provide long-term growth opportunity MRD Volume MRD Highlights ● 38% growth over Q1 2026 with only ~10% of salesforce selling today 9,000 ● xM tumor naive represents ~5% of total MRD volume today, providing massive opportunity for upside 6,500 ● Announced acquisition of Pe
Slide 12: Therapy Selection ASP expected to rise significantly over the next several years
Therapy Selection ASP expected to rise significantly over the next several years Tailwinds from reimbursement to expected to drive ASP growth of >$750* over next several years Reimbursement Milestones Illustrative path to >$2600 ASP* ASP with broader FDA approval of tumor only xT CDx enables entire D
Slide 13: Data & Applications growth accelerates on strong partnership expansion
Data & Applications growth accelerates on strong partnership expansion Data & Applications Revenue Q2 Data & Apps Highlights ● 28% growth YoY, with Insights growing 36% ● Announced collaboration with Bristol Myers $93.2M Squibb (NYSE: BMY) to leverage AI, multimodal real-world data and data science
Slide 14: Performance summary
Performance summary Q2 2026 Scaling Diagnostics and Data & Applications fueling operating leverage and Adjusted EBITDA expansion Q2 2026 Q2 2025 Change Revenue $382.5M $314.6M 22% Gross profit $246.5M $195.0M 26% Loss from operations $(75.9)M $(61.8)M 23% Non-GAAP loss from operations $(2.7)M $(17.0)
Slide 15: 2026 Guidance
2026 Guidance Q3 FULL YEAR $1.595 - $1.605B REVENUE $405 - $410 million of revenue ● Continued strong oncology growth ● Hereditary growth rate improving in H2 ~25% growth year-over-year ● Data & Applications growth of ~28% vs Q3 2025 *assumes no impact from Personalis acquisition in 2026 ~$65M ADJUS
Slide 16: Balancing near-term reinvestment with long-term Adjusted EBITDA expansion
Balancing near-term reinvestment with long-term Adjusted EBITDA expansion We expect 25% top-line growth over the next 3 years supported by continued strength in Diagnostics and expanding scale in our Data and Applications business. Over the next several years, we plan to reinvest the majority of inc
Slide 17: Acquiring Personalis Will Further Integrate MRD into our AI-Enabled Precision Oncology Platform
Acquiring Personalis Will Further Integrate MRD into our AI-Enabled Precision Oncology Platform Transaction & Rationale NeXT Personal® Assay Synergy & Scale Tempus is acquiring remaining shares An ultrasensitive, tumor-informed for $16.25/share via stock and up to Will unlock immediate upside by who
Slide 18: Tempus Acquisition of Personalis
Tempus Acquisition of Personalis Transaction Overview • Tempus AI will acquire all of the outstanding shares of Personalis’ common stock not already owned by Tempus AI at a price of $16.25 per share, representing a 6% premium to their closing price on July 17, 2026 and a 28% premium to unaffected 30
Slide 19: Appendix
‘TEMPUS Appendix
Slide 20: Non-GAAP Total Gross Profit & Gross Margin
Three months Ended June 30, Non-GAAP Total Gross 2026 2025 Profit & Gross Margin Net Revenue $ 382,486 $ 314,635 Gross profit and gross profit margin reconciliation Cost of revenues 135,988 119,596 Gross profit $ 246,498 $ 195,039 Unaudited In thousands, except percentages Stock-based compensation expen
Slide 21: Non-GAAP Diagnostics
Three months Ended June 30, Non-GAAP 2026 2025 Diagnostics Diagnostics revenue $289,333 $241,843 Gross profit and gross profit Cost of revenues, diagnostics 108,233 99,756 margin reconciliation Gross profit, diagnostics $ 181,100 $ 142,087 Unaudited In thousands, except percentages Stock-based compensa
Slide 22: Non-GAAP Data and Applications
Three months Ended June 30, Non-GAAP 2026 2025 Data and Applications Data and applications revenue $ 93,153 $ 72,792 Gross profit and gross profit Cost of revenues, data and applications 27,755 19,840 margin reconciliation Gross profit, data and applications $ 65,398 $ 52,952 Unaudited In thousands, ex
Slide 23: Non-GAAP Operating expenses reconciliation
Three months Ended June 30, 2026 2025 Non-GAAP Technology R&D Stock-based compensation expense $ 43,929 8,641 $34,482 3,285 Employer payroll tax related to stock-based Operating expenses compensation 358 495 reconciliation Non-GAAP technology R&D $ 34,930 $ 30,702 Research & development $52,637 $ 41
Slide 24: Non-GAAP Loss from Operations
Three months Ended June 30, Non-GAAP 2026 2025 Loss from Operations Loss from operations $ (75,913) $(61,774) Stock-based compensation expense 54,121 22,455 Employer payroll tax related to stock-based 1,493 1,873 compensation Acquisition related expenses 1 990 1,992 Unaudited In thousands Franchise
Slide 25: Non-GAAP EPS reconciliation
Three months Ended June 30, 2026 2025 Non-GAAP Net income (loss) $ 5,642 $(42,843) EPS reconciliation Fair value changes 1 (97,401) (37,546) Stock-based compensation expense 54,121 22,455 Employer payroll tax related to stock-based 1,493 1,873 compensation Unaudited Acquisition related expenses 2 99
Slide 26: Adjusted EBITDA reconciliation
Three months Ended June 30, 2026 2025 Adjusted EBITDA Net income (loss) $5,642 $ (42,843) reconciliation Interest income (3,897) (1,093) Interest expense 10,283 21,579 Depreciation 7,125 8,347 Amortization 18,860 19,685 Unaudited Provision for income taxes 309 212 In thousands EBITDA $ 38,322 $ 5,88