Tempus AI Q2 results and why the stock is back on radar

Tempus AI (TEM) is back in focus after Q2 2026 results showed higher revenue, a swing to quarterly profitability, raised full year revenue guidance, a new FDA approval, and a fresh data partnership with BioNTech.

Tempus AI's latest share price of US$43.87 comes after a 7 day share price return of 2.76%. However, the 30 day share price return is down 27.21% and the year to date share price return is down 29.65%. The 1 year total shareholder return is down 20.08%, which suggests sentiment has weakened even as Q2 results, the raised 2026 revenue guidance and the Personalis acquisition agreement keep the stock firmly in focus.

If Tempus AI has sharpened your interest in healthcare data and AI, it can be useful to compare it with other companies through our screener of 41 healthcare AI stocks

Tempus AI’s quarterly profit, stronger guidance and new deals sit awkwardly beside a sharply lower share price over the past month. Is this mainly a reset in sentiment, or is the business now priced more realistically?

Most Popular Narrative: 33.4% Undervalued

Against Tempus AI's last close at $43.87, the most followed narrative points to a fair value of $65.90, which implies a sizeable valuation gap.

This data moat is what makes the business interesting. Tempus has accumulated tens of millions of de-identified patient records and hundreds of petabytes of clinical and molecular data, assets that would take competitors years and enormous investment to replicate.

Read the complete narrative. Read the complete narrative.

Curious what kind of revenue path, profit margins, and exit multiple justify that higher fair value for Tempus AI? The full narrative spells out those assumptions in detail.

Result: Fair Value of $65.9 (UNDERVALUED)

However, Tempus AI still faces key risks, including ongoing net losses and high expectations around healthcare AI adoption that could disappoint and put pressure on the current valuation narrative.

Next Steps

Sentiment on Tempus AI is clearly mixed, with both risk flags and upside drivers in play. It is worth checking the numbers and narratives yourself while this Q2 story is still fresh. To weigh those issues side by side, start with our breakdown of 2 key rewards and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.