Q3 2026 results
| Metric | Result | Change |
|---|---|---|
| Total Revenue | $411.5 million | up 23% |
| Diagnostics Revenue | $303.5 million | up 20% |
| Oncology Revenue | $172.6 million | up 28% |
| Data and Apps Revenue | $108.1 million | up 33% |
| Adjusted EBITDA | $25.6 million | Not stated |
| Cash and Marketable Securities | $854.4 million | Not stated |
Guidance and outlook
- 2026 revenue guidance is $1.60 billion to $1.605 billion.
- 2026 adjusted EBITDA is expected to be approximately $65 million.
How management sounded
Positive (+7 on our -10 to +10 scale). Management highlighted accelerating unit growth, significant new strategic collaborations, and the achievement of positive adjusted EBITDA. Management sounded more upbeat than on 48% of the 190 calls we cover; most companies sound positive on their own calls, so the comparison says more than the label.
Q&A summary
Diagnostics Outlook
Asked: How should investors think about hereditary headwinds and oncology tailwinds for 2027?
Answer: Hereditary growth is stabilizing with low double-digit unit growth, while oncology will see price uplift from FDA approvals and ADLT rates.
Data Business
Asked: How does advanced modeling impact relationship stickiness with customers?
Answer: Moving clients into the Tempus environment to build models on GPUs creates high stickiness compared to previous transactional data licensing.
MRD Strategy
Asked: When will the full sales force sell the MRD test?
Answer: It depends on reimbursement and unit economics; mid-2027 is a potential timeframe for positive gross profit contribution.
Data Inflow
Asked: How does Tempus ensure future data access?
Answer: Data comes from over 8,000 providers through diversified channels, including diagnostic products and clinical trial matching, rather than relying on a single source.
What to watch before the next call
- Closing of the Personalis acquisition, scheduled for after the November 30 shareholder meeting.
- Impact of FDA approval for the XF test on oncology pricing in 2027.
- Progress on the Alzheimer's data set collaboration with BMS and Pathos.
