Tempus AI (TEM) shares fell nearly 12% in recent Tuesday trading, a day after reporting an adjusted loss for Q3 on higher revenue and a deal to acquire Ambry Genetics for $600 million.
The company reported a Q3 adjusted net loss of $0.25 per diluted share. Tempus AI didn't provide adjusted figures for the year-ago period.
Analysts polled by Capital IQ expected an adjusted loss of $0.31.
Revenue for the quarter ended Sept. 30 was $180.9 million, up from $136.1 million a year earlier.
Analysts surveyed by Capital IQ expected $179.6 million.
The company said it continues to expect 2024 revenue of about $700 million. Analysts polled by Capital IQ expect $698.1 million.
Additionally, Tempus said it has agreed to acquire Ambry Genetics for $600 million in cash and shares to expand its cancer testing and genetic screening.
As part of the deal, $375 million will be paid in cash and $225 million in shares at closing, Tempus said. The deal is financed partly by $300 million in debt from lender Ares, it added.
Price: 43.75, Change: -5.76, Percent Change: -11.63
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