Exhibit 99.1 Tempus Reports Third Quarter 2024 Results and Agreement to Acquire Ambry Genetics CHICAGO, November 4, 2024 — 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 that ended September 30, 2024. The company also announced that it has entered into an agreement to acquire Ambry Genetics, a leader in genetic testing that aims to improve health by understanding the relationship ...

Revenue and Financial Performance - Total revenue for the three months ended June 30, 2024 was $166.0 million, compared to $132.4 million in the same period in 2023, representing a 25.4% increase[141] - Total net revenue increased by 25% to $165.9 million in Q2 2024 compared to $132.4 million in Q2 2023[181] - Total net revenue increased by $63.7 million (26%) for the six months ended June 30, 2024, driven by growth in Genomics and Data and Services[195] - Genomics revenue increased by 22% to $112.3 million in Q2 2024, driven by a rise in oncology NGS tests from 55,300 in Q2 2023 to 66,500 in Q2 2024[181][182] - Genomics revenue increased by $40.9 million (24%) for the six months ended June 30, 2024, primarily due to an increase in oncology NGS tests from 103,700 to 129,200[196] - Data and services revenue grew by 32% to $53.6 million in Q2 2024, primarily due to increased demand for Insights products and adoption by new customers[181][184] - Data and services revenue increased by $22.8 million (31%) for the six months ended June 30, 2024, driven by $20.1 million from increased demand for Insights products[197] Net Losses and Adjusted EBITDA - Net losses for the three months ended June 30, 2024 were $552.2 million, compared to $55.8 million in the same period in 2023[141] - Adjusted EBITDA for the three months ended June 30, 2024 was $(31.2) million, compared to $(37.0) million in the same period in 2023[141] - Adjusted EBITDA for the six months ended June 30, 2024, was $(75.112) million, compared to $(82.892) million in the same period in 2023, reflecting improved operating performance[216] - The company had an accumulated deficit of $2.1 billion as of June 30, 2024, and expects to incur additional operating losses in the near future as it continues to invest in new offerings and market expansion[218][219] Research and Development (R&D) and Technology Investment - Research and development investment for the three months ended June 30, 2024 was $68.1 million, compared to $22.2 million in the same period in 2023[159] - Technology investment for the three months ended June 30, 2024 was $77.9 million, compared to $23.4 million in the same period in 2023[161] - Research and development expenses increased significantly, with technology R&D reaching $77.9 million in Q2 2024, up from $23.4 million in Q2 2023[180] - Research and development expenses increased by $45.9 million (207%) for the three months ended June 30, 2024, primarily due to $42.2 million in stock-based compensation related to RSUs[187] - Technology research and development expenses increased by $54.5 million (233%) for the three months ended June 30, 2024, driven by $50.4 million in stock-based compensation related to RSUs[188] - The company plans to continue investing in new assay development, technology platforms, and expansion into new disease areas, expecting R&D expenses to increase in absolute dollars[170][171] Selling, General, and Administrative (SG&A) Expenses - Selling, general, and administrative expenses surged to $463.1 million in Q2 2024, largely due to IPO-related costs and increased headcount[174][180] - Selling, general and administrative expenses increased by $391.9 million (550%) for the three months ended June 30, 2024, primarily due to $377.1 million in stock-based compensation related to RSUs[190] - The company expects selling, general, and administrative expenses to decrease modestly as a percentage of revenue in the long term, despite increasing in absolute dollars[174] Strategic Collaborations and Market Presence - The company has strategic collaborations with AstraZeneca, GlaxoSmithKline, and Recursion Pharmaceuticals, with minimum commitments of $220 million, $180 million, and up to $160 million respectively[151][154][155] - The company's offerings have been used by more than 7,000 physicians and over 200 biotech companies, including 19 of the 20 largest public pharmaceutical companies based on 2023 revenue[160] - The company's Platform connects multiple stakeholders within the healthcare ecosystem, enabling data-driven decisions and therapeutic development[139] - The company's Genomics product line provides next-generation sequencing, PCR profiling, and molecular genotyping, with data commercialized to pharmaceutical and biotechnology partners[140] Cost of Revenues - Cost of revenues for Genomics increased by 45% to $68.3 million in Q2 2024, driven by $11.3 million in stock-based compensation and higher material and personnel costs[185][186] - Cost of revenues for Data and services rose by 60% to $22.1 million in Q2 2024, primarily due to increased stock-based compensation and cloud expenses[185] - Cost of revenues increased by $41.1 million (35%) for the six months ended June 30, 2024, primarily due to $18.5 million in stock-based compensation related to RSUs[199] Interest and Other Financial Metrics - Interest income decreased by $239,000 (-12%) for the three months ended June 30, 2024, compared to the same period in 2023[191] - Interest expense increased by $1.6 million (14%) for the three months ended June 30, 2024, primarily driven by compounding interest on the Amended Note[192] - Other (expense) income, net increased by $6.3 million (820%) for the three months ended June 30, 2024, primarily due to $3.7 million in unrealized losses on marketable equity securities[193] - Interest income decreased by 37% to $2.749 million for the six months ended June 30, 2024, compared to $4.381 million in the same period in 2023, primarily due to U.S. Federal Reserve interest rate decreases[206] - Interest expense increased by 27% to $26.533 million for the six months ended June 30, 2024, compared to $20.903 million in the same period in 2023, driven by compounding interest on the Amended Note and additional debt under the Term Loan Facility[207] - Other (expense) income, net decreased by 212% to $(6.299) million for the six months ended June 30, 2024, compared to $5.622 million in the same period in 2023, primarily due to fair value changes in warrant assets and liabilities, and the Series G-4 Special Payment[208] - Provision for income taxes increased by 1078% to $(106) thousand for the six months ended June 30, 2024, compared to $(9) thousand in the same period in 2023, though the increase was not material[209] - Losses from equity method investments decreased by 100% to $0 for the six months ended June 30, 2024, compared to $(301) thousand in the same period in 2023, due to the exhaustion of the investment in a joint venture[210] Cash Flow and Liquidity - Net cash used in operating activities for the six months ended June 30, 2024 was $198.5 million, driven by a net loss of $617.0 million and non-cash charges of $522.3 million[232] - Cash provided by financing activities for the six months ended June 30, 2024 was $502.6 million, primarily from IPO proceeds of $382.0 million and Series G-5 Preferred Stock issuance of $199.8 million[237] - Cash provided by investing activities for the six months ended June 30, 2024 was $9.0 million, resulting from $23.1 million in proceeds from marketable equity securities sales[235] - As of June 30, 2024, the company held $479.7 million in cash, cash equivalents, and restricted cash, primarily in cash deposits and money market funds[247] - The company believes its current cash and cash equivalents, marketable equity securities, and anticipated cash flows from operations will be sufficient to meet its cash requirements for more than twelve months[221] - The Term Loan Facility, with an aggregate principal amount of $260 million, requires the company to maintain a minimum liquidity of $25 million and generate consolidated revenues of $459.1 million and $594.1 million for the years ending December 31, 2024, and 2025, respectively[225][226] - The amended and restated Note has a principal amount of $250.0 million, with annual reductions based on Google Cloud Platform usage, and is due by March 22, 2026[229] Stock-Based Compensation and IPO - Stock-based compensation expense recognized during the six months ended June 30, 2024 was $488.3 million due to the IPO liquidity event[241] - The company completed its IPO on June 17, 2024, issuing 11,100,000 shares of Class A common stock at $37.00 per share, raising net proceeds of $382.0 million[144] Reimbursement and Clinical Oncology NGS Tests - As of December 31, 2023, the company received payment on approximately 50% of clinical oncology NGS tests performed from January 1, 2021, through December 31, 2022, with average reimbursement of $916 in 2022 and $1,452 in 2023[163] International Revenue and Inflation Risk - The company's international revenue is currently insignificant, but future foreign currency exchange rate fluctuations may impact operations as global presence expands[248] - The company is exposed to inflation risk, which could affect gross margins and operating expenses as a percentage of revenue in the future[249]

Tempus Reports Second Quarter 2024 Results CHICAGO, August 6, 2024 — 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 that ended June 30, 2024, and provided recent business highlights. • Revenue increased 25% year-over-year to $166.0 million in the second quarter of 2024 • Data licensing revenue growth accelerated to 40% year-over-year • Expanded into the minimal residual disease (M ...