Tempus AI (TEM) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached $367.2M, up 83% year-over-year, with 33.5% organic growth excluding Ambry; full year 2025 revenue totaled $1.27B, an 83.4% increase.

• Diagnostics revenue grew 121.6% year-over-year in Q4, with Oncology volume up 29% and Hereditary up 23%.

• Data and Applications revenue rose 30.9% year-over-year to $316.4M, with Insights (data licensing) up 69.5% in Q4 excluding AstraZeneca warrant impact.

• Ended 2025 with over $1.1B in Total Remaining Contract Value and 126% Net Revenue Retention.

• Adjusted EBITDA improved to $12.9M in Q4 2025 from $(7.8)M in Q4 2024.

Financial highlights

• Q4 gross profit was $237.7M, up 94.7% year-over-year; full year gross profit reached $797.9M, up 109.4%.

• Diagnostics gross margin rose to 61.4% in Q4 2025; Data and Applications gross margin was 73.5% in Q4 2025.

• Q4 net loss was $(54.2)M, including $48.7M in stock compensation; full year net loss was $(245.0)M.

• Non-GAAP net loss per share improved to $(0.04) in Q4 2025; full year net loss per share was $(1.41) GAAP.

• Ended 2025 with $759.7M in cash and marketable securities.

Outlook and guidance

• 2026 revenue guidance is approximately $1.59B, representing 25% annual growth.

• 2026 Adjusted EBITDA expected to be around $65M.

• Q1 2026 revenue expected at ~$345M, with Data & Applications growth of ~40% vs Q1 2025.

• Core oncology diagnostics and data businesses expected to grow 30%+ in 2026.

• Hereditary diagnostics growth expected to moderate to high teens due to lapping prior share gains.