By Owen Tucker-Smith
Tempus AI shares sank Monday after the company forecast fourth-quarter sales below Wall Street expectations.
Shares of the Chicago-based artificial intelligence company were recently down 11.7% to $33.14. The stock peaked at $79.49 in June shortly after its initial public offering and hit a low of $22.89 in November.
In preliminary results released Monday, the company said it expected revenue for the fourth quarter around $200 million, an increase of around 35% year-over-year. Analysts on Wall Street surveyed by FactSet expected revenue of $205.7 million.
Chief Executive Eric Lefkofsky said that genomics revenue is expected to grow 30% in the fourth quarter, while data and services revenue is expected to be up 45%.
Tempus is an AI company focused on medicine and healthcare. The company on Monday also said it was developing its first whole-genome sequencing test.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 13, 2025 10:17 ET (15:17 GMT)
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