Summit Health Announces Internalization of Genomic Testing Cooperative State-of-The-Art Next Generation Sequencing DNA and RNA Profiling Tests for Tissue and Liquid Biopsy of Solid Tumors and Hematologic Neoplasms
As a member of the GTC Co-Op group, Summit Health will gain access to cutting-edge scientific capabilities, access to a pipeline of innovation in diagnostics, and proprietary technology and datasets for R&D.
"We are very thrilled to partner with GTC in internalizing and adopting their comprehensive portfolio of tissue and liquid biopsy tests for hematologic neoplasms and solid tumors. We believe that this testing is currently essential for the practice of precision medicine,' said Dr. Gordana Katava, DO, Chief of Pathology and Laboratory Medicine, Summit Health/Village MD.
Dr. Maher Albitar, Founder, CEO and Chief Medical Officer at GTC, stated, 'We are excited to add Summit and Village MD physicians to our Co-Op network. GTC was established on the promise of democratizing genomic science and next generation sequencing. This partnership is a step forward toward achieving our goal,' Dr. Albitar added. 'The Co-OP model is not only standardizing next generation sequencing, but also providing ecosystem for cooperation, sharing knowledge and AI-based software, and reducing cost of internalizing NGS.'
About Summit Health
Summit Health, which is a part of VillageMD, helps patients with all their comprehensive primary care and multi-specialty care needs. Whether it's getting annual checkups, raising a family, or prioritizing healthy aging, Summit Health works as a team to deliver care that helps patients make the right choices and stay a step ahead of any issues. Summit Health offers high-quality connected care services covering nearly every medical specialty including orthopedics, urology, dermatology, cardiology, gastroenterology, and more. When patients need urgent care, they can visit Summit Health's urgent care partner, CityMD, which has 180+ locations throughout N.Y. and N.J. Together, Summit Health and CityMD are one connected care team.
About GTC
Genomic Testing Cooperative [GTC], the global leader in RNA innovation, is a privately owned molecular testing company located in Lake Forest, California. Since its inception in 2018 GTC has been focused on facilitating the acceleration of access to NGS enabled precision medicine in Oncology through innovative science and differentiated business models and practices and has grown through the realization of these strategies to become a leading partner/provider in the Oncology NGS space helping healthcare organizations to tackle the biggest problems in Next Generation Sequencing for Oncology today.
Forward Looking Statements
All the statements, expectations and assumptions contained in this press release are forward-looking statements. Such forward-looking statements are based on GTC and Summit Health management's current expectations and include statements regarding the value of Molecular profiling, testing, therapy, and the ability of testing to provide clinically useful information. All information in this press release is as of the date of the release, and Summit Health or GTC undertake no duty to update this information unless required by law.
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Tempus Reports Second Quarter 2025 Results
CHICAGO--(BUSINESS WIRE)--Tempus AI, Inc. (NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, today reported financial results for the quarter ended June 30, 2025. Revenue increased 89.6% year-over-year to $314.6 million in the second quarter Genomics revenue increased 115.3% year-over-year to $241.8 million on accelerating year-over-year volume growth in Oncology (26%) and Hereditary (32%) testing Data and services revenue increased 35.7% year-over-year to $72.8 million, led by Insights (data licensing), which grew 40.7% year-over-year Quarterly gross profit was $195.0 million, a 158.3% year-over-year increase Issued $750 million of 0.75% convertible senior notes that will drive significant interest expense and cash savings Increasing full year 2025 revenue guidance to $1.26 billion, along with positive adjusted EBITDA of $5 million, a $110 million improvement over 2024 'The business is performing well with revenues and margins growing faster than expected, contributing to our continued improvement in adjusted EBITDA on a year-over-year basis,' said Eric Lefkofsky, Founder and CEO of Tempus. 'We saw significant re-acceleration of our clinical volumes which grew 30% in the quarter, as we delivered more than 212,000 NGS tests. Combined with our continued leadership in AI and progress toward building the largest foundation model in oncology, 'we're hitting our stride' as we approach our 10th anniversary.' Second Quarter Summary Results Quarterly revenue increased 89.6% year-over-year to $314.6 million. Genomics contributed $241.8 million in revenue in the quarter, growing 115.3% compared to the second quarter of 2024. Oncology testing (Tempus genomics) delivered $133.2 million of revenue, up 32.9% year-over-year with approximately 26% volume growth versus 20% last quarter. Hereditary testing (Ambry genetics) contributed $97.3 million of revenue, up 33.6% year-over-year on a pro forma basis 1 with approximately 32% volume growth. Revenue from Data and services totaled $72.8 million in the second quarter, delivering 35.7% growth versus the second quarter of 2024, led by Insights (data licensing), which grew 40.7% year-over-year. Generated $195.0 million in quarterly gross profit, reflecting a 158.3% increase year-over-year. Improvement in reported net loss of ($42.8 million) in the second quarter of 2025, including fair value gains of $37.8 million related to our marketable equity securities and stock compensation and employer payroll tax related to stock-based compensation of ($24.3) million, compared to a net loss of ($552.2 million) in the second quarter of 2024. Adjusted EBITDA of ($5.6 million) in the second quarter of 2025 compared to ($31.2 million) in the second quarter of 2024, an improvement of $25.6 million year-over-year. Second Quarter and Recent Operational Highlights Strengthened Financial Flexibility: Just after quarter end, we completed an upsized offering of $750 million 0.75% convertible senior notes, enhancing our balance sheet and allowing us to replace a portion of the existing term loan with a significantly lower interest debt instrument. We also ended the quarter with $293.0 million in cash and marketable securities, an improvement of ~$70 million over last quarter. Expanded AI-Powered Clinical Tools: Extended Tempus Next™ care pathway intelligence platform into breast cancer, furthering AI-driven decision support across oncology. In addition, Tempus One™, our generative AI clinical assistant, was integrated into leading electronic health record (EHR) systems to enhance physician workflows and point-of-care insights. Advanced MRD and monitoring: Introduced Tempus xM™ for treatment and response monitoring (TRM), a liquid biopsy assay designed to monitor immunotherapy response in patients with advanced solid tumors, providing clinicians with actionable, real-time insights. We also expanded our exclusive collaboration with Personalis to include colorectal cancer as the fourth indication under the NeXT Personal® MRD commercial partnership. Reached new database milestone: Through more than 4,500 integrations, we are now connected to more than 40 million clinical patient records, with ~9 million de-identified and ingested, spanning ~1.1 billion healthcare documents, a significant percentage of which are connected to the ~4 million samples we have sequenced. As a result, our database now stands at >350 petabytes of connected clinical and molecular data. Approaching 10-Year anniversary: As we near Tempus' 10-year anniversary, we're reflecting on a decade of innovation and collaboration which now spans more than 2,000 publications including ~700 peer reviewed articles and ~180 oral presentations. ____________ (1) Not meaningful due to the impact of stock compensation expense and employer payroll tax related to stock-based compensation associated with the initial public offering in June 2024 Expand Financial Outlook and Guidance Tempus is increasing its guidance and now expects full year 2025 revenue of approximately $1.26 billion for the consolidated business, which represents approximately 82% annual growth, and Adjusted EBITDA of $5 million for full year 2025, an improvement of approximately $110 million over 2024. For additional information on the quarter, including a letter from our CEO and CFO, please visit our investors relations site at Webcast and Conference Call Information A conference call and webcast will be held on Friday, August 8, 2025 at 8:00 a.m. Eastern Time. Interested parties may access details using: Conference ID: 7005219 Domestic Dial-in Number: (800) 715 - 9871 International Dial-in Number: (646) 307 - 1963 Live webcast: The webcast may be accessed on the company's investor relations website at For those unable to listen to the live webcast, a recording will be made available on the company's website after the event and will be accessible for one year. Visit the investor relations website to find the company's latest deck, and commentary on the quarter and year by Eric Lefkofsky, Founder and CEO and Jim Rogers, CFO, which will be discussed on the conference call and webcast. About Tempus Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world's largest libraries of multimodal data, and an operating system to make that data accessible and useful, Tempus provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit Non-GAAP Financial Measures In addition to the financial information presented in this release in accordance with accounting principles generally accepted in the United States of America (GAAP), Tempus also presents adjusted non-GAAP financial measures. Non-GAAP gross profit is defined as GAAP gross profit, excluding stock-based compensation expense and employer payroll tax related to stock-based compensation (collectively, the 'stock-based compensation adjustments'). Non-GAAP gross margin is defined as gross profit, excluding the stock-based compensation adjustments, as a percentage of revenue. Non-GAAP operating expenses are calculated as the sum of technology research and development expense, research and development expense, and selling, general and administrative expense, excluding the stock-based compensation adjustments, acquisition-related expenses, amortization of intangibles due to acquisition, and franchise taxes related to our IPO. Non-GAAP loss from operations is defined as loss from operations, adjusted to exclude (i) stock-based compensation expense, (ii) employer payroll tax related to stock-based compensation expense, (iii) acquisition-related expenses, (iv) franchise taxes related to our IPO, and (v) amortization of intangibles due to acquisition. Non-GAAP net loss is defined as net loss, adjusted to exclude (i) changes in fair value of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities and indemnity-related holdback liabilities, (ii) stock-based compensation expense, (iii) employer payroll tax related to stock-based compensation expense, (iv) acquisition-related expenses, (v) amortization of intangibles due to acquisition, (vi) losses on equity method investments, (vii) (benefit from) provision for income taxes, (viii) the payment of $2.3 million of our Series G-4 convertible preferred stock in connection with the initial public offering (the "G-4 Special Payment"), (ix) franchise taxes related to our IPO, and (x) amortization of deferred other income from our IP License Agreement with SB Tempus. Non-GAAP net loss per share is defined as non-GAAP net loss divided by weighted average common shares outstanding, basic and diluted. Adjusted EBITDA is defined as net loss, adjusted to exclude (i) interest income, (ii) interest expense, (iii) depreciation and amortization, (iv) provision for (benefit from) income taxes, (v) losses on equity method investments, (vi) changes in fair value of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities and indemnity-related holdback liabilities, (vii) stock-based compensation expense, (viii) employer payroll tax related to stock-based compensation expense, (ix) acquisition related expenses, (x) the G-4 Special Payment, (xi) amortization of deferred other income from our IP License Agreement with SB Tempus, and (xii) franchise taxes related to our IPO. Tempus believes these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and they may be used by institutional investors and the analyst community to help them analyze the health of Tempus' business. In particular, Adjusted EBITDA is a key measurement used by Tempus management to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures. Tempus does not provide guidance for net loss, the most directly comparable GAAP measure to EBITDA and Adjusted EBITDA, and similarly cannot provide a reconciliation between Tempus' forecasted Adjusted EBITDA and net loss without unreasonable effort due to the unavailability of reliable estimates for certain components of net income (loss) and the respective reconciliations. These forecasted items are not within Tempus' control, may vary greatly between periods, and could significantly impact future financial results. Other Key Metrics Total Remaining Contract Value (TCV) is equal to the total potential value of signed contracts and assumes the exercise of all contract options, all discretionary opt-ins, and no early termination. Remaining TCV excludes any revenue recognized to date on these contracts or any future adjustments made to the contractual value as a result of amendments or terminations. Net Revenue Retention compares the annual Insights product revenue generated from all customers that made an Insights purchase in one year to the annual Insights product revenue generated from the same cohort of customers in the subsequent year. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended, about Tempus and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements, including, but not limited to, Tempus' expected financial results for full year 2025; expectations concerning the interest and cost savings associated with our convertible senior notes; and other statements that are not historical fact. In some cases, you can identify forward-looking statements because they contain words such as 'anticipate,' 'believe,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'going to,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would' or the negative of these words or other similar terms or expressions. Tempus cautions you that the foregoing may not include all of the forward-looking statements made in this press release. You should not rely on forward-looking statements as predictions of future events. Tempus has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends that it believes may affect Tempus' business, financial condition, results of operations and prospects. These forward-looking statements are subject to risks and uncertainties related to: the intended use of Tempus' products and services; Tempus' financial performance; the ability to attract and retain customers and partners; managing Tempus' growth and future expenses; competition and new market entrants; compliance with new laws, regulations and executive actions, including any evolving regulations in the artificial intelligence space; the ability to maintain, protect and enhance Tempus' intellectual property; the ability to attract and retain qualified team members and key personnel; the ability to repay or refinance outstanding debt, or to access additional financing; future acquisitions, divestitures or investments, including Tempus' ability to realize the expected benefits of the acquisition of Ambry Genetics and Deep 6 AI; the potential adverse impact of climate change, natural disasters, health epidemics, macroeconomic conditions, trade tensions and tariffs, and war or other armed conflict, as well as risks, uncertainties, and other factors described in the section titled 'Risk Factors' in Tempus' Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission ('the SEC') on February 24, 2025, as supplemented by Tempus' Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 8, 2025, as well as in other filings Tempus may make with the SEC in the future. In addition, any forward-looking statements contained in this press release are based on assumptions that Tempus believes to be reasonable as of this date. Tempus undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. (1) Includes related party revenue of $15,908, $108, $16,539, $215 for the three and six months ended June 30, 2025 and 2024, respectively. Expand Tempus AI, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share and per share amounts) December 31, 2024 Assets Current Assets Cash and cash equivalents $ 186,310 $ 340,954 Accounts receivable, net of allowances of $1,545 and $1,141 at June 30, 2025 and December 31, 2024, respectively 266,284 154,819 Inventory 47,600 38,386 Related party asset 2,535 — Prepaid expenses and other current assets 36,476 26,135 Marketable equity securities 104,996 107,309 Total current assets $ 644,201 $ 667,603 Property and equipment, net 92,563 58,056 Goodwill 325,793 73,343 Intangible assets, net 387,564 11,716 Investments and other assets 16,669 8,305 Investment in joint venture 95,718 91,450 Related party asset, less current portion 22,465 — Operating lease right-of-use assets 38,651 14,762 Restricted cash 1,741 881 Total Assets $ 1,625,365 $ 926,116 Liabilities, Convertible redeemable preferred stock, and Stockholders' equity Current Liabilities Accounts payable 79,323 53,804 Related party payable 25,000 — Accrued expenses 165,903 130,407 Deferred revenue (1) 100,477 75,981 Deferred other income 15,955 15,955 Other current liabilities 16,554 6,964 Operating lease liabilities 9,381 6,459 Accrued data licensing fees 5,567 1,500 Total current liabilities $ 418,160 $ 291,070 Operating lease liabilities, less current portion 45,866 26,199 Convertible promissory note 226,342 168,192 Other long-term liabilities 9,508 15,980 Revolving credit facility 100,000 — Interest payable 5,084 70,450 Long-term debt, net 471,663 267,244 Deferred other income, less current portion 15,955 23,932 Deferred revenue, less current portion 23,225 6,710 Total Liabilities $ 1,315,803 $ 869,777 Expand (1) Includes related party deferred revenue of $36,685 and $0 as of June 30, 2025 and December 31, 2024, respectively. Expand Commitments and contingencies (Note 8) Convertible redeemable preferred stock, $0.0001 par value, 20,000,000 shares authorized at June 30, 2025 and December 31, 2024, respectively, no shares issued and outstanding at June 30, 2025 and December 31, 2024; aggregate liquidation preference of $0 at June 30, 2025 and December 31, 2024, respectively $ — $ — Stockholders' equity Class A Voting Common Stock, $0.0001 par value, 1,000,000,000 shares authorized at June 30, 2025 and December 31, 2024, respectively; 168,580,827 and 157,076,972 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 17 16 Class B Voting Common Stock, $0.0001 par value, 5,500,000 shares authorized at June 30, 2025 and December 31, 2024, respectively; 5,043,789 issued and outstanding at June 30, 2025 and December 31, 2024, respectively 1 1 Non-voting Common Stock, $0.0001 par value, no shares authorized at June 30, 2025 and December 31, 2024, respectively; no shares issued and outstanding at June 30, 2025, and December 31, 2024, respectively — — Treasury Stock, 145,466 shares at June 30, 2025 and December 31, 2024, at cost (3,602 ) (3,602 ) Additional Paid-In Capital 2,566,412 2,210,664 Accumulated Other Comprehensive Income 8,448 94 Accumulated deficit (2,261,714 ) (2,150,834 ) Total Stockholders' equity $ 309,562 $ 56,339 Total Liabilities, Convertible redeemable preferred stock, and Stockholders' equity $ 1,625,365 $ 926,116 Expand Tempus AI, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands, except per share amounts) Six Months Ended June 30, 2025 2024 Operating activities Net loss $ (110,880 ) $ (616,955 ) Adjustments to reconcile net loss to net cash used in operating activities Change in fair value of warrant liability $ — $ (900 ) Stock-based compensation 45,429 488,313 Gain on warrant exercise — (173 ) Gain on marketable equity securities (6,007 ) (2,541 ) Deferred income taxes (46,216 ) — Losses from equity method investments 3,983 — Amortization of original issue discount 1,169 691 Amortization of deferred financing fees 332 255 Change in fair value of contingent consideration — 165 Change in fair value of holdback liability 312 — Amortization of warrant contract asset — 2,422 Depreciation and amortization 48,385 18,348 Provision for bad debt expense 625 327 Change in fair value of warrant asset — 7,700 Non-cash operating lease costs 4,573 3,252 Minimum accretion expense 108 92 PIK interest added to principal 7,157 4,366 Change in assets and liabilities Accounts receivable (49,155 ) (23,971 ) Inventory 1,974 (3,845 ) Prepaid expenses and other current assets (188 ) (12,409 ) Investments and other assets (11,073 ) 1,294 Accounts payable 7,025 (33,371 ) Deferred revenue (1) 36,836 (28,669 ) Deferred other income (7,977 ) — Accrued data licensing fees 3,957 (2,749 ) Accrued expenses & other 6,991 (2,805 ) Interest payable 7,122 7,287 Operating lease liabilities (5,942 ) (4,582 ) Net cash used in operating activities $ (61,460 ) $ (198,458 ) Investing activities Purchases of property and equipment $ (9,588 ) $ (14,116 ) Proceeds from sale of marketable equity securities 8,316 23,098 Business combinations, net of cash acquired (Note 4) (380,762 ) — Purchases of capitalized software (3,295 ) — Net cash (used in) provided by investing activities $ (385,329 ) $ 8,982 Expand (1) Includes increase in related party deferred revenue of $36,685 and $0 as of June 30, 2025 and December 31, 2024, respectively. Expand Financing activities Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions $ — $ 381,951 Tax withholding related to net share settlement of restricted stock units — (69,918 ) Issuance of Series G-5 Preferred Stock — 199,750 Payment of deferred offering costs — (2,714 ) Dividends paid — (5,625 ) Proceeds from revolving credit facility, net of original issue discount 98,000 — Proceeds from long-term debt, net of original issue discount 196,000 — Payment of deferred financing fees (958 ) — Payment of indemnity holdback related to acquisition — (813 ) Net cash provided by financing activities $ 293,042 $ 502,631 Effect of foreign exchange rates on cash $ (37 ) $ (90 ) Net (decrease) increase in Cash, Cash Equivalents and Restricted Cash $ (153,784 ) $ 313,065 Cash, cash equivalents and restricted cash, beginning of period 341,835 166,607 Cash, cash equivalents and restricted cash, end of period $ 188,051 $ 479,672 Cash, Cash Equivalents and Restricted Cash are Comprised of: Cash and cash equivalents $ 186,310 $ 478,811 Restricted cash and cash equivalents 1,741 861 Total cash, cash equivalents and restricted cash $ 188,051 $ 479,672 Supplemental disclosure of cash flow information Cash paid during the year for interest $ 23,980 $ 13,921 Cash paid for income taxes $ 136 $ 89 Supplemental disclosure of noncash investing and financing activities Dividends payable $ — $ 5,487 Purchases of property and equipment, accrued but not paid $ 6,863 $ 1,108 Redemption of convertible promissory note $ 14,338 $ 12,476 Non-voting common stock issued in connection with business combinations $ — $ 344 Deferred financing fees, accrued but not yet paid $ 545 $ — Deferred offering costs, accrued but not yet paid $ 95 $ 6,051 Operating lease liabilities arising from obtaining right-of-use assets $ 606 $ — Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering $ — $ 1,348,809 Taxes related to net share settlement of restricted stock units not yet paid $ — $ 164 Reclassification of deferred offering costs to additional paid-in capital upon initial public offering $ — $ 12,347 Class A Voting Common Stock issued in connection with business combinations $ 310,320 $ — Issuance of Series G-3 Preferred Stock $ — $ 3,809 Issuance of Series G-4 Preferred Stock $ — $ 611 Convertible promissory note principal reset due to amendment $ 72,488 $ — Expand Tempus AI, Inc. (Unaudited) (in thousands, except percentages and per share amounts) Genomics Gross Profit & Gross Margin Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Genomics revenue $ 241,843 $ 112,324 $ 435,647 $ 214,893 Cost of revenues, genomics 99,756 68,324 184,539 121,159 Gross profit, genomics $ 142,087 $ 44,000 $ 251,108 $ 93,734 Stock-based compensation expense 1,420 11,327 2,455 11,327 Employer payroll tax related to stock-based compensation 254 136 302 136 Non-GAAP gross profit, genomics $ 143,761 $ 55,463 $ 253,865 $ 105,197 Genomics gross margin 58.8 % 39.2 % 57.6 % 43.6 % Stock-based compensation expense 0.6 % 10.1 % 0.6 % 5.3 % Employer payroll tax related to stock-based compensation 0.1 % 0.1 % 0.1 % 0.1 % Non-GAAP gross margin, genomics 59.4 % 49.4 % 58.3 % 49.0 % Expand Data and Services Gross Profit & Gross Margin Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Data and services revenue $ 72,792 $ 53,645 $ 134,725 $ 96,896 Cost of revenues, data and services 19,840 22,132 35,591 37,420 Gross profit, data and services $ 52,952 $ 31,513 $ 99,134 $ 59,476 Stock-based compensation expense 693 7,229 1,304 7,229 Employer payroll tax related to stock-based compensation 114 119 158 119 Non-GAAP gross profit, data and services $ 53,759 $ 38,861 $ 100,596 $ 66,824 Gross margin, data and services 72.7 % 58.7 % 73.6 % 61.4 % Stock-based compensation expense 1.0 % 13.5 % 1.0 % 7.5 % Employer payroll tax related to stock-based compensation 0.2 % 0.2 % 0.1 % 0.1 % Non-GAAP gross margin, data and services 73.9 % 72.4 % 74.7 % 69.0 % Expand Total Gross Profit & Gross Margin Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net revenue $ 314,635 $ 165,969 $ 570,372 $ 311,789 Cost of revenues 119,596 90,456 220,130 158,579 Gross profit $ 195,039 $ 75,513 $ 350,242 $ 153,210 Stock-based compensation expense 2,113 18,556 3,759 18,556 Employer payroll tax related to stock-based compensation 369 255 460 255 Non-GAAP gross profit $ 197,521 $ 94,324 $ 354,461 $ 172,021 Gross margin 62.0 % 45.5 % 61.4 % 49.1 % Stock-based compensation expense 0.7 % 11.2 % 0.7 % 6.0 % Employer payroll tax related to stock-based compensation 0.1 % 0.2 % 0.1 % 0.1 % Non-GAAP gross margin 62.8 % 56.8 % 62.1 % 55.2 % Expand Operating Expenses Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Technology research and development $ 34,482 $ 77,908 $ 67,873 $ 104,975 Stock-based compensation expense 3,285 50,434 6,604 50,434 Employer payroll tax related to stock-based compensation 495 1,248 756 1,248 Non-GAAP technology research and development $ 30,702 $ 26,226 $ 60,513 $ 53,293 Research and development $ 41,619 $ 68,025 $ 77,493 $ 92,365 Stock-based compensation expense 2,335 42,233 4,317 42,233 Employer payroll tax related to stock-based compensation 235 676 411 676 Non-GAAP research and development $ 39,049 $ 25,116 $ 72,765 $ 49,456 Selling, general and administrative $ 180,712 $ 463,072 $ 335,339 $ 542,636 Stock-based compensation expense 14,722 377,090 30,749 377,090 Employer payroll tax related to stock-based compensation 774 2,582 5,499 2,582 Acquisition related expenses 1,992 — 5,521 — Amortization of intangibles due to acquisition 16,771 — 27,927 — Franchise taxes related to IPO 1,647 — 1,647 — Non-GAAP selling, general and administrative $ 144,806 $ 83,400 $ 263,996 $ 162,964 Operating expenses $ 256,813 $ 609,005 $ 480,705 $ 739,976 Stock-based compensation expense 20,342 469,757 41,670 469,757 Employer payroll tax related to stock-based compensation 1,504 4,506 6,666 4,506 Acquisition related expenses 1,992 — 5,521 — Amortization of intangibles due to acquisition 16,771 — 27,927 — Franchise taxes related to IPO 1,647 — 1,647 — Non-GAAP operating expenses $ 214,557 $ 134,742 $ 397,274 $ 265,713 Expand Earnings per Share Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $ (42,843 ) $ (552,212 ) $ (110,880 ) $ (616,955 ) Fair value changes (1) (37,546 ) 4,870 (5,696 ) 4,280 Stock-based compensation expense 22,455 488,313 45,429 488,313 Employer payroll tax related to stock-based compensation 1,873 4,762 7,126 4,762 Acquisition related expenses (2) 1,992 — 5,521 — Amortization of intangibles due to acquisition 16,771 — 27,927 — Losses on equity method investments 2,100 — 3,983 — Provision for (benefit from) income taxes 212 95 (45,968 ) 106 G-4 Special Payment — 2,250 — 2,250 Franchise taxes related to IPO 1,647 — 1,647 — Amortization of technology license (3,988 ) — (7,977 ) — Non-GAAP net loss $ (37,327 ) $ (51,922 ) $ (78,888 ) $ (117,244 ) Non-GAAP net loss per share $ (0.22 ) $ (0.63 ) $ (0.46 ) $ (1.61 ) Weighted average common shares outstanding, basic and diluted 173,381 82,325 171,960 72,930 Expand (1) Fair value changes include gains and losses related to quarterly fair value adjustments of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities, and indemnity-related holdback liabilities. (2) Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions during the three and six months ended June 30, 2025. Expand Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $ (42,843 ) $ (552,212 ) $ (110,880 ) $ (616,955 ) Interest income (1,093 ) (1,718 ) (2,906 ) (2,749 ) Interest expense 21,579 13,295 39,582 26,533 Depreciation 8,347 6,415 16,230 12,684 Amortization 19,685 2,744 32,155 5,664 Provision for (benefit from) income taxes 212 95 (45,968 ) 106 EBITDA $ 5,887 $ (531,381 ) $ (71,787 ) $ (574,717 ) Losses on equity method investments 2,100 — 3,983 — Fair value changes (1) (37,546 ) 4,870 (5,696 ) 4,280 Stock-based compensation expense 22,455 488,313 45,429 488,313 Employer payroll tax related to stock-based compensation 1,873 4,762 7,126 4,762 Acquisition related expenses (2) 1,992 — 5,521 — G-4 Special Payment — 2,250 — 2,250 Amortization of technology license (3,988 ) — (7,977 ) — Franchise taxes related to IPO 1,647 — 1,647 — Expand (1) Fair value changes include gains and losses related to quarterly fair value adjustments of our warrant liability, warrant asset, marketable equity securities, contingent consideration liabilities, and indemnity-related holdback liabilities. (2) Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions of during the three and six months ended June 30, 2025. Expand Loss from Operations Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Loss from operations $ (61,774 ) $ (533,492 ) $ (130,463 ) $ (586,766 ) Stock-based compensation expense 22,455 488,313 45,429 488,313 Employer payroll tax related to stock-based compensation 1,873 4,762 7,126 4,762 Acquisition related expenses (1) 1,992 — 5,521 — Franchise taxes related to IPO 1,647 — 1,647 — Amortization of intangibles due to acquisition 16,771 — 27,927 — Non-GAAP loss from operations $ (17,036 ) $ (40,417 ) $ (42,813 ) $ (93,691 ) Expand (1) Acquisition related expenses consist of legal, diligence, accounting, and financing costs incurred for acquisitions during the three and six months ended June 30, 2025. Expand
Axios
05-08-2025
- Axios
Jensen Huang to keynote Nvidia D.C. conference in Oct.
Nvidia is announcing today that founder and CEO Jensen Huang will keynote a splashy AI event in Washington on Oct. 28, with a focus on how Nvidia is helping U.S. technology power global innovation. The event will be called GTC DC, after Nvidia's glitzy annual GTC (short for GPU Technology Conference) in San Jose, which has been called AI Woodstock and the Super Bowl of AI. Why it matters: The keynote reflects increasing Washington engagement by Huang — who talks regularly with President Trump, and last month persuaded him to allow the resumption of chip sales in China. Nvidia says GTC DC will include government leaders, industry representatives and academics, with conversations on AI innovation, manufacturing in America, and the U.S. role in the global AI landscape.
Yahoo
05-08-2025
- Yahoo
Twist Bioscience Corp (TWST) Q3 2025 Earnings Call Highlights: Record Revenue and Strategic ...
Revenue: $96.1 million, an increase of 18% year-over-year. Gross Margin: 53.4%, up from 43.3% in the third quarter of fiscal 2024. Synbio Revenue: $35.2 million, reflecting 7% year-over-year growth. NGS Revenue: $55.3 million, an increase of 27% year-over-year. Biopharma Revenue: $5.6 million, growth of 10% year-over-year. Adjusted EBITDA: Loss of approximately $8 million, an improvement of about $14 million versus the third quarter of fiscal 2024. Net Income: $20.4 million for the third quarter, aided by a one-time accounting gain of $48.8 million from the Atlas transaction. Cash and Investments: Approximately $250.8 million at the end of the quarter. Guidance for Fiscal 2025: Total revenue of $374 million to $376 million, indicating growth of approximately 19.7% at the midpoint year-over-year. Full-Year Gross Margin Guidance: Approximately 50.5% to 51%. Warning! GuruFocus has detected 3 Warning Signs with TWST. Release Date: August 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Twist Bioscience Corp (NASDAQ:TWST) reported record revenue of $96.1 million for the third quarter of fiscal 2025, marking an 18% increase year-over-year. The company's gross margin improved significantly to 53.4%, up from 43.3% in the same quarter of fiscal 2024. Revenue from the Next-Generation Sequencing (NGS) segment increased by 27% year-over-year, driven by strong demand from commercial diagnostic tests and smaller accounts. Twist Bioscience Corp (NASDAQ:TWST) added hundreds of net new customers, expanding its reach in the academic market for synthetic biology products and NGS tools. The company is on track to achieve adjusted EBITDA breakeven, with a significant improvement in adjusted EBITDA loss by approximately $14 million compared to the third quarter of fiscal 2024. Negative Points The Synbio segment experienced a growth of only 7% year-over-year, partly due to a tough comparison with a large order from the previous year that did not recur. Revenue from the Biopharma Services segment grew by only 10% year-over-year, indicating slower growth compared to other segments. The company anticipates a $5 million revenue normalization in Q4 due to a key account transitioning from validation to commercial deployment, which may impact short-term revenue. APAC revenue decreased to $5.9 million in the third quarter, down from $6.5 million in the same period of fiscal 2024, with China contributing only 1.5% of total revenue. Operating expenses, excluding cost of revenues, were approximately $81.4 million, showing a slight increase compared to the same period in 2024, which could impact profitability. Q & A Highlights Q: Could you provide insights into the Synbio growth and customer trends, especially with new products and academic market engagement? A: Emily Leproust, CEO, explained that existing Synbio products resonate well with customers, and there is significant potential in reaching smaller accounts. The company is leveraging marketing and sales to expand its customer base. Additionally, a rich roadmap of new product introductions is expected to drive growth, with AI serving as a catalyst for increased demand. Q: How have clinical diagnostic product launches in the NGS segment played out in 2025, and what is the outlook for 2026? A: Adam Laponis, CFO, noted that while the company remains cautious with guidance, the NGS segment has seen meaningful transitions towards commercialization. Although MRD is a small part of the NGS business, it is expected to ramp significantly in 2026, with several customers finalizing tests for commercial launch. Q: Can you clarify the $5 million revenue impact from a customer transition in Q4 and its effect on NGS growth? A: Adam Laponis, CFO, stated that the $5 million impact is expected in Q4, with some additional effects in Q1 of the next fiscal year. Despite this, the company anticipates continued sequential growth in 2026, driven by clinical adoption and diversification into other markets. Q: What factors contributed to the US academic market's 10% growth, and how is the company gaining share? A: Patrick Finn, COO, attributed the growth to Twist's core value proposition, offering more research opportunities for the same budget. The company's technology advantage and broad product portfolio are resonating with customers, driving share gains in a challenging market. Q: How does the company plan to balance reinvestment and adjusted EBITDA improvements over the next 12 months? A: Adam Laponis, CFO, emphasized that while revenue growth remains the primary driver of profitability, the company will continue to invest efficiently to accelerate growth. The focus will be on modest OpEx investments to support sequential growth and achieve adjusted EBITDA breakeven by Q4 2026. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
