Tempus quadruples MRD volumes and books $550M of data deals this year

Tempus ran about 12,000 minimal residual disease tests in the third quarter, up 300% on a year earlier. That was one of several sharp numbers in the results released on 2 November, alongside total revenue of $411.5 million, up 23%.

"Q3 was another record quarter, as we delivered $411.5 million of revenue," Eric Lefkofsky, founder and CEO, Tempus

Testing and data, both growing

Diagnostics brought in $303.5 million, up 20%. Oncology volume growth accelerated to 32%, while hereditary testing revenue grew a more modest 3%.

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The data business grew faster. Data and Applications revenue rose 33% to $108.1 million, with Insights, its data licensing arm, up 29%. Tempus says total data licensing bookings have passed $550 million so far this year. The quarter's deals included an oncology data licence with Bristol Myers Squibb worth up to $137.5 million over five years, and a separate deal under which BMS and Pathos are licensing data on patients with Alzheimer's or dementia for $55 million over five years.

Tempus also agreed a multi-year collaboration with Merck and Moderna to support the potential commercialisation of intismeran autogene, an individualised neoantigen therapy, used with KEYTRUDA. And it announced plans for a research platform of 100,000 whole genomes linked to longitudinal clinical information.

The numbers

The bottom line has moved a long way in a year. The net loss narrowed to $14.9 million from $80.0 million, and adjusted EBITDA came in at $25.6 million, against $1.5 million in the same quarter of 2025.

Full-year revenue guidance rises to $1.60 billion to $1.605 billion, about 25% growth, and the adjusted EBITDA target holds at about $65 million.

Deals and devices

Tempus picked up two FDA 510(k) clearances in the quarter, for Tempus ECG-PH and ECG-MR. Its pending acquisition of Personalis has cleared regulatory review, and Personalis shareholders are due to vote at a meeting planned for 30 November.

The bigger picture

Tempus has always argued that sequencing patients and selling the resulting data to pharma feed each other. This quarter both sides grew at double digits, and the data side grew faster. With Personalis set to join, the company is getting bigger in MRD at the same moment its volumes there are taking off.

What it means for hiring

A 300% jump in MRD volume and the Personalis deal point to demand for oncology sales, medical affairs and lab operations people who know tumour-informed monitoring.
Data licensing bookings above $550 million keep pharma-facing roles in demand: business development leads, real-world data scientists and account directors who can sell data and analytics to large pharma, in our view.
Integrating an acquisition while growing at 25% usually creates openings in integration, lab operations and commercial leadership. People who've been through a diagnostics merger are worth having on the bench.

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