Tempus AI

General Information
Business:

We provide data and analytics tools for precision medicine. (Incorporated in Delaware) 

We are focused on the use of AI (artificial intelligence) in healthcare. This led to the creation of the Tempus Platform, which includes proprietary software and data pipelines. As a result of this proprietary technology, we have accumulated what we consider to be one of the largest libraries of clinical and molecular oncology data in the world.

We have established a network that we believe would be difficult for potential competitors to replicate. We have relationships with providers, life sciences companies, and leading industry associations that help provide key competitive advantages around our Platform. We work with hundreds of provider networks, including more than 65 percent of all academic medical centers in the United States. We have approximately 450 direct unique data connections, many of which supply us with complex multimodal data in near real time, across more than 2,000 healthcare institutions that order our products and services. In addition, we work with numerous industry associations, such as ASCO to structure and distribute the oncology data they collect as part of CancerLinq, which is their oncology data effort. To align interests with the healthcare providers who share data with us, we have developed software products and services that help our partners leverage data and benefit from being part of our network to improve patient care and research. These products have gained significant traction over the past five years, as our offerings are used by more than 7,000 physicians in some way. Between our sequencing and data collection efforts, we are connected in some way to more than 50 percent of all oncologists practicing in the United States.

Eric Lefkofsky, our founder, has served as our CEO and a member of our board of directors since our inception in 2015. Before founding Tempus, Mr. Lefkofsky co-founded Groupon, Inc. in 2008, where he held various roles, including member of the board of directors through November 2023, chairman of the board of directors (November 2015 to June 2020), and CEO (August 2013 to November 2015). Mr. Lefkofsky also co-founded Lightbank LLC in 2008, a private venture capital firm specializing in investments in technology companies. He has served as Lightbank’s managing member since inception and general partner since January 2019.

Note: Net loss and revenue figures are for the 12 months that ended March 31, 2024.

(Note: Tempus AI disclosed the terms for its IPO on June 5, 2024, in an S-1/A filing: The company is offering 11.1 million shares at a price range of $35.00 to $37.00 to raise $399.6 million. Background: Tempus AI filed its S-1 on May 20, 2024, without disclosing terms for its IPO. Estimated IPO proceeds are $100.0 million. Background: Tempus AI filed confidentially on Sept. 1, 2021.)

 

Industry: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Employees: 2300
Founded: 2015
Contact Information
Address 600 West Chicago Avenue, Suite 510 Chicago, Illinois 60654
Phone Number (800) 976-5448
Web Address https://www.tempus.com/
View Prospectus: Tempus AI
Financial Information
Market Cap $6108.7mil
Revenues $562.02 mil (last 12 months)
Net Income $-224.48 mil (last 12 months)
IPO Profile
Symbol TEM
Exchange NASDAQ
Shares (millions): 11.1
Price range $37.00 - $37.00
Est. $ Volume $410.7 mil
Manager / Joint Managers Morgan Stanley/ J.P. Morgan/ Allen & Company/ BofA Securities/ TD Cowen
CO-Managers Stifel/ William Blair/ Loop Capital Markets/ Needham & Company
Expected To Trade: 6/14/2024
Status: Priced
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