Tempus AI drew eight news stories in the 24 hours to 2 November, against a usual 0.4 a day. What the filings show underneath that beat is a growth rate that has already slowed.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
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| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY25 Q1 | 42.9% | -87.9% | -26.3% |
| FY25 Q2 | 59.8% | -24.7% | -7.3% |
| FY25 Q3 | 72.6% | -21.9% | -22.1% |
| FY25 Q4 | 83.4% | -19.9% | -18.8% |
| FY26 Q1 | 69.8% | -19.7% | -15.6% |
| FY26 Q2 | 50.4% | -19.8% | -18.4% |
| FY26 Q3 | 36.6% | -18.5% | -9.1% |
The operating margin of −18.5% is above every past reading in the company's own record, which ran from −114.8% to −19.7%
Revenue over the twelve months to Q3 2026 was $1.5 billion, up 36.6% on the year before. That growth rate was down 13.9 percentage points on the rate a quarter earlier.
Operating margin improved. The trailing operating margin was −18.5%, up 3.4 percentage points from a year earlier, and the company's net loss over the twelve months was $189.3 million, with a trailing net margin of −12.5%. The margin gain and the smaller loss are two measures of the same shift: more of each dollar of revenue is left after operating costs.
Cash flow is still negative. Operating cash flow over the twelve months was −$108.4 million, and capital spending was $28.4 million, or 1.9% of revenue. Free cash flow, operating cash flow less capital spending, was −$136.8 million. The free-cash-flow margin of −9.1% is up 13.1 percentage points from a year earlier, meaning the outflow per dollar of revenue is smaller than it was.
The counterpoint to the slowing-growth story sits in the margin history. The operating margin of −18.5% is above every past reading in the company's own record, which ran from −114.8% to −19.7%.
Where Tempus AI's figures sit in its own record
Today's free-cash-flow margin of −9.1% is higher than 89% of the company's own past quarterly readings, which have ranged from −54.5% to −7.3%. The operating margin of −18.5% is above every past reading in that same record. Both figures place the current quarter near the top of the company's own history, even as the growth rate is 13.9 percentage points lower than a quarter earlier.
What the filings cannot tell you at Tempus AI
Our figures run to Q3 2026, from the company's own filings; they cannot confirm, explain or rule out anything in the reports. The revenue growth rate and the operating margin are the two figures that bear most directly on the question the coverage raises: whether the beat and the raised guidance sit on a trajectory that is still accelerating or one that has already peaked.
