Earnings Performance - Adjusted loss per share of 25 cents, beating the Zacks Consensus Estimate of 27 cents by 7.4% [1] - GAAP loss per share narrowed to 46 cents from $1.03 in the prior-year quarter [1] Revenue Growth - Total revenues of $180.9 million, beating the Zacks Consensus Estimate by 1.8% and growing 32.9% year-over-year [2] Segmental Performance Geonomics - Sales of $116.4 million, up 20.3% year-over-year, driven by unit growth acceleration of 23.9% annually [3] - Adjusted gross profit of $57.4 million, up 14.2% year-over-year, with adjusted gross margin contracting 260 bps to 49.3% [3] Data and Services - Sales of $64.5 million, up 64.4% year-over-year, driven by Insights (data licensing) growth of 86.6% annually [3] - Adjusted gross profit of $50.5 million, up 112.6% year-over-year, with adjusted gross margin expanding 1780 bps to 78.3% [3] Margins and Expenses - Adjusted gross profit of $107.9 million, up 45.8% year-over-year, with adjusted gross margin expanding 520 bps to 59.6% [4] - Total adjusted operating expenses of $139.3 million, up 17.2% year-over-year [4] - Total loss from operations of $53.6 million, expanding 19.7% year-over-year [4] Financial Position - Cash and cash equivalents and marketable securities of $467.2 million at the end of Q3 2024, down from $490.9 million at the end of Q2 2024 [5] - Cumulative net cash used in operating activities of $149.8 million, down from $174.1 million a year ago [5] 2024 Guidance - Full-year 2024 revenue guidance of approximately $700 million, representing a 32% year-over-year growth, slightly above the Zacks Consensus Estimate of $696.7 million [6] Strategic Developments - Multi-year collaboration with BioNTech to leverage Tempus' TCR dataset for BioNTech's next-generation oncology pipeline [9] - Three-year extension of the strategic agreement with Merck EMD [9] - Agreement to acquire Ambry Genetics for $375 million in cash and $225 million in shares, with $100 million subject to a lock-up agreement [10] Stock Performance - Shares lost 6.1% during after-market trading following Q3 results but gained 23% in the past six months, outperforming the industry's 8.1% rise and the S&P 500's 10.1% increase [8] Industry Comparison - AngioDynamics (ANGO) shares lost 19.2% year-to-date, underperforming the industry's 6.1% growth [12] - Quest Diagnostics (DGX) shares gained 42% year-to-date, outperforming the industry's 14.9% growth [12] - RadNet (RDNT) shares surged 93.7% year-to-date, significantly outperforming the industry's 14.8% growth [13]
Tempus Stock Declines Despite Q3 Earnings & Revenues Beat Estimates