Tempus AI reported $348.1 million in Q1 revenue, beating estimates, but losses widened to $125.9 million.
Tempus AI (NASDAQ:TEM) posted Q1 revenue of $348.1 million, a 36.1% year-over-year increase and above the expected $345.3 million. The company’s net loss widened to $125.9 million, or $0.71 per share, exceeding the projected $84.7 million loss.
H.C. Wainwright lowered its price target for Tempus AI to $64 from $95 while maintaining a Buy rating. The firm noted increased operating losses compared to prior quarters. Tempus AI expanded partnerships with Gilead and Merck during the period.
The company’s AI-driven platform showed a 40% improvement in life-saving heart valve operations in a trial with Medtronic.