Latest news with #AmbryGenetics
Yahoo
3 days ago
- Business
- Yahoo
Tempus AI Raises Outlook, CEO Cites Faster-Than-Expected Growth And Improved Margins
Tempus AI Inc. (NASDAQ:TEM) reported second-quarter financial results Friday. The AI-focused precision medicine and patient care company reported a second-quarter adjusted loss of 22 cents per share, beating analyst estimates for a loss of 24 cents per share. Tempus AI reported quarterly revenue of $314.64 million, beating the consensus estimates of $296.85 million. Revenue increased 89.6% year-over-year. Genomics contributed $241.8 million in revenue in the quarter, growing 115.3% year over testing (Tempus genomics) delivered $133.2 million of revenue, up 32.9%, with approximately 26% volume growth versus 20% last quarter. Hereditary testing sales (Ambry genetics) reached $97.3 million, up 33.6% year-over-year on a pro forma basis with approximately 32% volume growth. Revenue from Data and services totaled $72.8 million, delivering 35.7% growth versus the second quarter of 2024, led by Insights (data licensing), which grew 40.7% year-over-year. 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. View more earnings on TEM '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,' Lefkofsky said in a statement on Friday. Database Update Through more than 4,500 integrations, Tempus said it connected to more than 40 million clinical patient records, with around 9 million de-identified and ingested, spanning approximately 1.1 billion healthcare documents, a significant percentage of which are connected to the around 4 million samples the company has sequenced. As a result, the company's database stands at over 350 petabytes of connected clinical and molecular data. Tempus AI ended the quarter with $293.0 million in cash and marketable securities, an improvement of around $70 million over last quarter. Outlook Tempus AI increased its guidance and expects a full year of 2025 revenue of approximately $1.26 billion for the consolidated business, representing approximately 82% annual growth, compared to the consensus of $1.25 billion. Earlier, the company expected revenue between $1.24 billion and $1.25 billion for its consolidated Tempus and Ambry Genetics business. The company reaffirms full-year 2025 adjusted EBITDA of $5 million, an improvement of approximately $110 million over 2024. Tempus AI received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its ejection fraction software in July. Tempus said the FDA granted it 510(k) clearance for its Tempus ECG-Low EF software, which uses AI to identify patients with a potential left ventricular ejection fraction. Price Action: Tempus AI shares were up 5.79% after hours, trading at $55.21 at the time of publication on Tuesday. Read Next:Photo by Piotr Swat via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Tempus AI Raises Outlook, CEO Cites Faster-Than-Expected Growth And Improved Margins originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Globe and Mail
02-07-2025
- Business
- Globe and Mail
What's Fueling Tempus AI's Explosive Sales Growth?
Chicago-based Tempus AI, Inc. TEM is experiencing robust revenue growth, marked by record-setting financial performance. In the first quarter of 2025, the company reported a 75.4% year-over-year increase in total revenues, driven by 89% growth in Genomics revenues and a 43% rise in Data & Services revenues. The Genomics business benefited from 20% volume growth in oncology tests (legacy Tempus clinical testing) and higher average revenue per test, driven by increased Medicare reimbursement rates. Additionally, hereditary testing contributed $63.5 million in Genomics revenues on 23% volume growth from the February acquisition of Ambry Genetics. The Data & Services segment's growth was driven by a 58% improvement in Insights, the company's data licensing business. This business has scaled significantly by signing deals with companies like Novartis, Merck EMD, Takeda and United Therapeutics last year. TEM made several recent developments that are setting the stage for sales growth. In line with this, Tempus AI signed a $200 million data and modeling license agreement with AstraZeneca AZN and Pathos to build the world's largest foundation model. Additionally, the company's new liquid biopsy assay, xM for treatment response monitoring (TRM), is scheduled for clinical launch in the coming months. Furthermore, the company's first whole-genome sequencing (WGS) test, Xh, is slated for clinical launch by next year. Sales Growth of TEM's Competitors Exact Sciences Corporation EXAS posted a 10.9% revenue rise in the first quarter of 2025, led by strong growth in its Screening segment, driven by strong adoption of Cologuard (a non-invasive, patient-friendly, stool-based DNA screening test) and the launch of Cologuard Plus. Precision Oncology revenues grew 4% due to continued adoption of Oncotype DX (cancer diagnostic tests and services) and the launch of Oncodetect, a molecular residual disease test. Adjusted EBITDA rose 61% to $63 million, supported by volume leverage and operational efficiency. Exelixis EXEL reported strong revenue growth in the first quarter of 2025, with total revenues increasing 30.6% year over year. The performance was largely driven by the ongoing success of the Cabozantinib franchise, particularly the recent U.S. launch of CABOMETYX for the treatment of advanced neuroendocrine tumors. TEM's Price Performance and Valuation In the past year, Tempus AI shares have surged 79.1%, outperforming the industry's 39.9% growth and the S&P 500 composite's 13% improvement. TEM currently trades at a forward 12-month Price-to-Sales (P/S) of 7.85X compared to the industry average of 5.91X. TEM Stock Estimate Trend Earnings estimates for Tempus AI in 2025 and 2026 are showing a mixed picture. TEM stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AstraZeneca PLC (AZN): Free Stock Analysis Report Exelixis, Inc. (EXEL): Free Stock Analysis Report Exact Sciences Corporation (EXAS): Free Stock Analysis Report Tempus AI, Inc. (TEM): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Business Wire
27-05-2025
- Health
- Business Wire
New Study Shows Impact of Ambry Genetics' Patient for Life™ Program on Rare Disease Diagnosis
ALISO VIEJO, Calif.--(BUSINESS WIRE)-- Ambry Genetics, now a wholly owned subsidiary of Tempus AI, Inc. (NASDAQ: TEM), and a leader in clinical genomic testing, today announced the publication of a study in Genetics in Medicine, the official journal of the American College of Medical Genetics and Genomics (ACMG). The study reveals the potentially transformative impact of Ambry Genetics' Patient for Life™ program, which systematically reanalyzes data from the company's database of exome test results. By reclassifying genetic variants based on newly discovered gene-disease associations and emerging evidence supporting variant pathogenicity, the program may offer renewed hope to patients and families facing undiagnosed rare diseases. Over the study period, 5% of initially negative or uninformative case results that received proactive reanalysis led to a diagnosis. The term 'rare disease' comprises more than 7,000 diseases, each affecting fewer than 200,000 Americans, collectively impacting 25 million to 30 million individuals. 1 Exome sequencing tests – which examine the coding regions of genomic DNA – are typically indicated for evaluating children with congenital birth defects, intellectual disability, and neurodevelopmental disorders such as autism spectrum disorder and epilepsy. 2 Ambry Genetics was the first commercial laboratory to begin offering clinical diagnostic exome sequencing testing in 2011 3, which may bring new hope to thousands of patients and families searching for the underlying genetic cause of rare, undiagnosed diseases. Ambry Genetics' Patient for Life program is supported by a dedicated team of scientists who continuously analyze emerging data on gene-disease associations and variant pathogenicity. This evidence is then used to reanalyze data from previously tested individuals, providing proactive reporting of clinically relevant findings. This systematic approach helps alleviate the burden on clinicians to request exome reanalysis. As demonstrated in the Genetics in Medicine study analyzing exome cases from 2012 to 2021, 23% of cases underwent at least one reanalysis, with 5% of initially negative or uninformative case results moving from 'unsolved' to 'solved.' Among cases where lab-driven reanalysis occurred via Ambry Genetics' Patient for Life program based on newly published data, 54% led to a diagnostic reclassification, compared to just 4% of reanalyses completed following clinician requests. Furthermore, of the reanalyzed cases that led to diagnostic reclassification, 80% involved the identification of a new diagnosis that may have been delayed or missed without the laboratory-initiated Patient for Life reanalysis workflow, highlighting the program's efficiency in helping providers deliver timely and accurate diagnoses. 'Following a multi-year diagnostic journey, Ambry Genetics' Patient for Life program helped my son receive a diagnosis for his rare disease more than a year after his initial exome test when new research established the clinical significance of his ZMYM2 mutation,' said Jordan Hinrichs. 'Without this program, we might still be searching for answers. Discovering the cause of my son's condition brought immense relief—and opened the door to a community of families on the same journey. This program didn't just provide a diagnosis. It gave us connection and hope.' Tom Schoenherr, CEO of Ambry Genetics, emphasized the importance of the program: 'With more than 100 new gene-disease associations discovered every year, this study underscores the necessity of the work our scientists do to support patients seeking rare disease diagnoses. Unlike some laboratories who provide limited or only clinician-driven reanalysis services, we believe we have a responsibility to patients to proactively update clinical reports as new clinically relevant scientific discoveries are made, which may benefit the patients who need answers.' For more information about Ambry Genetics' Patient for Life program, visit ABOUT AMBRY GENETICS® Ambry Genetics, a wholly owned subsidiary of Tempus, translates scientific research into clinically actionable test results based upon a deep understanding of the human genome and the biology behind genetic disease. It is a leader in genetic testing and aims to improve health by understanding the relationship between genetics and disease. Over its 25-year history, Ambry has remained committed to empowering patients to make informed healthcare decisions based on their genetic data. 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 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 Tempus' 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, statements regarding the potential impact of Ambry Genetics' research and publications; the contributions of Ambry Genetics' research and findings to the larger scientific community and the use of its products and services to advance clinical care for patients are forward-looking statements. 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: 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; the potential adverse impact of climate change, natural disasters, health epidemics, macroeconomic conditions, and war or other armed conflict, as well as risks, uncertainties, and other factors described in the section titled 'Risk Factors' in Tempus' Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 filed with the Securities and Exchange Commission ('SEC') 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 Sroberts. Rare Disease Facts and Statistics | NORD. National Organization for Rare Disorders. Published November 1, 2022. 2 Manickam K, McClain MR, Demmer LA, et al. Exome and genome sequencing for pediatric patients with congenital anomalies or intellectual disability: an evidence-based clinical guideline of the American College of Medical Genetics and Genomics (ACMG). Genet Med. 2021;23(11):2029-2037. doi:10.1038/s41436-021-01242-6 3 Ambry Genetics. Ambry genetics first to offer exome sequencing service for clinical diagnostics. PR Newswire. Available at:
Yahoo
27-05-2025
- Business
- Yahoo
New Study Shows Impact of Ambry Genetics' Patient for Life™ Program on Rare Disease Diagnosis
Peer-reviewed publication examines the benefits of proactive exome reanalysis on diagnostic outcomes ALISO VIEJO, Calif., May 27, 2025--(BUSINESS WIRE)--Ambry Genetics, now a wholly owned subsidiary of Tempus AI, Inc. (NASDAQ: TEM), and a leader in clinical genomic testing, today announced the publication of a study in Genetics in Medicine, the official journal of the American College of Medical Genetics and Genomics (ACMG). The study reveals the potentially transformative impact of Ambry Genetics' Patient for Life™ program, which systematically reanalyzes data from the company's database of exome test results. By reclassifying genetic variants based on newly discovered gene-disease associations and emerging evidence supporting variant pathogenicity, the program may offer renewed hope to patients and families facing undiagnosed rare diseases. Over the study period, 5% of initially negative or uninformative case results that received proactive reanalysis led to a diagnosis. The term "rare disease" comprises more than 7,000 diseases, each affecting fewer than 200,000 Americans, collectively impacting 25 million to 30 million individuals.1 Exome sequencing tests – which examine the coding regions of genomic DNA – are typically indicated for evaluating children with congenital birth defects, intellectual disability, and neurodevelopmental disorders such as autism spectrum disorder and epilepsy.2 Ambry Genetics was the first commercial laboratory to begin offering clinical diagnostic exome sequencing testing in 20113, which may bring new hope to thousands of patients and families searching for the underlying genetic cause of rare, undiagnosed diseases. Ambry Genetics' Patient for Life program is supported by a dedicated team of scientists who continuously analyze emerging data on gene-disease associations and variant pathogenicity. This evidence is then used to reanalyze data from previously tested individuals, providing proactive reporting of clinically relevant findings. This systematic approach helps alleviate the burden on clinicians to request exome reanalysis. As demonstrated in the Genetics in Medicine study analyzing exome cases from 2012 to 2021, 23% of cases underwent at least one reanalysis, with 5% of initially negative or uninformative case results moving from 'unsolved' to 'solved.' Among cases where lab-driven reanalysis occurred via Ambry Genetics' Patient for Life program based on newly published data, 54% led to a diagnostic reclassification, compared to just 4% of reanalyses completed following clinician requests. Furthermore, of the reanalyzed cases that led to diagnostic reclassification, 80% involved the identification of a new diagnosis that may have been delayed or missed without the laboratory-initiated Patient for Life reanalysis workflow, highlighting the program's efficiency in helping providers deliver timely and accurate diagnoses. "Following a multi-year diagnostic journey, Ambry Genetics' Patient for Life program helped my son receive a diagnosis for his rare disease more than a year after his initial exome test when new research established the clinical significance of his ZMYM2 mutation," said Jordan Hinrichs. "Without this program, we might still be searching for answers. Discovering the cause of my son's condition brought immense relief—and opened the door to a community of families on the same journey. This program didn't just provide a diagnosis. It gave us connection and hope." Tom Schoenherr, CEO of Ambry Genetics, emphasized the importance of the program: "With more than 100 new gene-disease associations discovered every year, this study underscores the necessity of the work our scientists do to support patients seeking rare disease diagnoses. Unlike some laboratories who provide limited or only clinician-driven reanalysis services, we believe we have a responsibility to patients to proactively update clinical reports as new clinically relevant scientific discoveries are made, which may benefit the patients who need answers." For more information about Ambry Genetics' Patient for Life program, visit ABOUT AMBRY GENETICS® Ambry Genetics, a wholly owned subsidiary of Tempus, translates scientific research into clinically actionable test results based upon a deep understanding of the human genome and the biology behind genetic disease. It is a leader in genetic testing and aims to improve health by understanding the relationship between genetics and disease. Over its 25-year history, Ambry has remained committed to empowering patients to make informed healthcare decisions based on their genetic data. 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 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 Tempus' 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, statements regarding the potential impact of Ambry Genetics' research and publications; the contributions of Ambry Genetics' research and findings to the larger scientific community and the use of its products and services to advance clinical care for patients are forward-looking statements. 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: 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; the potential adverse impact of climate change, natural disasters, health epidemics, macroeconomic conditions, and war or other armed conflict, as well as risks, uncertainties, and other factors described in the section titled "Risk Factors" in Tempus' Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 filed with the Securities and Exchange Commission ("SEC") 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 Sroberts. Rare Disease Facts and Statistics | NORD. National Organization for Rare Disorders. Published November 1, 2022.2 Manickam K, McClain MR, Demmer LA, et al. Exome and genome sequencing for pediatric patients with congenital anomalies or intellectual disability: an evidence-based clinical guideline of the American College of Medical Genetics and Genomics (ACMG). Genet Med. 2021;23(11):2029-2037. doi:10.1038/s41436-021-01242-63 Ambry Genetics. Ambry genetics first to offer exome sequencing service for clinical diagnostics. PR Newswire. Available at: Published September 29, 2011. 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Yahoo
21-05-2025
- Business
- Yahoo
Freenome Appoints Linh H. Le as Chief Financial Officer
Seasoned diagnostics executive brings expertise in financial strategy and operational infrastructure development across diagnostics and Medtech industries BRISBANE, Calif., May 21, 2025 /PRNewswire/ -- Freenome, a biotechnology company pioneering an early cancer detection platform, today announced the appointment of Linh H. Le as its new chief financial officer. Linh brings more than two decades of experience in leading finance and operations across diagnostics and Medtech companies, including Ambry Genetics, Medtronic and Predicine. At Freenome, Linh will oversee financial strategy and operational execution, supporting the company as it expands its commercial footprint. "Linh has a proven track record of building the financial and operational foundations required to scale and sustain innovation," said Aaron Elliott, Ph.D., chief executive officer of Freenome. "He has led large-scale transformations, improved enterprise performance, and brings a focused, results-oriented approach that will help us execute with precision and purpose. I'm thrilled to welcome him to Freenome's leadership team." Prior to joining Freenome, Linh served as CFO at Predicine, where he implemented a best-in-class revenue cycle management system and led expansion into multiple U.S. markets. He previously held the role of chief operating officer at Ambry Genetics, where he led organization-wide change that supported significant sample volume growth and operational scalability. Earlier in his career, Linh spent 14 years at Medtronic Diabetes, where he served as CFO for the intensive insulin management business unit with oversight across North America, EMEA, and Asia-Pacific. Linh began his career in assurance practice at KPMG and management advisory practice at PwC before taking on leadership roles at The Walt Disney Company and Fox. He is a Certified Public Accountant, holds a Bachelor of Science in Business Administration and Accounting from California State University, Northridge, and completed executive coursework at the Wharton School of Business. He was named CFO of the Year by the Los Angeles Times in 2022. About FreenomeFreenome is breaking barriers to early cancer detection with a suite of blood tests built on its multiomics platform. The company recognizes that no single technology can identify every cancer due to the disease's inherent heterogeneity. Freenome's multimodal approach combines molecular biology and assays with computational biology, machine learning and multiple data types to tune into cancer's subtlest cues, even at the earliest stages of the disease. With the convenience of a standard blood draw, Freenome aims to empower everyone to access recommended cancer screenings. The company is partnering with healthcare organizations and population health decision-makers to integrate its technology and software platform, making cancer detection easier and more accessible. Freenome is headquartered in Brisbane, California. Find out more at and visit us on LinkedIn. View original content to download multimedia: SOURCE Freenome Holdings, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
