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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.