Tempus AI (TEM)
Reimbursement unlock and profitable compounding
Report summary
- Rating
- Summit members
- Latest catalyst
- Q3 2026 print2 Nov 2026
- Catalyst verdict
- Summit members
- Market cap
- $14.2B2 Nov 2026
- Revenue · Q3 2026
- $412M+23% YoY · 9.4× sales
- EPS · Q3 2026
- $0.07vs -$0.11 a year ago
- Print quality
- Summit members
- Updated
- 3 Nov 2026
- Sector
- Precision medicine diagnostics / AI healthcare data
Themes
Multimodal clinical and genomic data assets are becoming the training substrate for pharmaceutical artificial intelligence and drug development, while diagnostics volume and reimbursement fund the underlying data flywheel. Tempus AI is, in Altai Capital's view, the cleanest listed expression of this theme in AI-driven precision medicine and healthcare data.
Summary
Tempus AI is a Chicago-based precision-medicine company led by founder and chief executive Eric Lefkofsky that converts oncology and hereditary test volume into a licensable, multimodal data asset for pharmaceutical partners. The thesis rests on the idea that a decade of loss-making data accumulation has become a self-funding engine: oncology volume is growing above 30%, data licensing is growing about 30% on long-dated contracts, and a reimbursement step-up is due to arrive in 2027.
Summit members only
Continue reading with Summit.
The rating and the call on the latest catalyst, the full narrative, phases, every assessment, the quarterly table and what we are watching next, plus every other report as it is written. $100 / month, cancel any time.
Already a member? Sign in.
This website and its content are for informational purposes only and do not constitute financial, investment, or trading advice. Altai Capital is not a regulated entity. All opinions expressed herein are those of the authors and do not represent official recommendations or endorsements. Past performance is not indicative of future results. Readers should conduct their own due diligence and consult with a qualified professional before making any investment. No liability is accepted for any actions taken based on this content.