Tempus AI TEM

Nasdaq · Services-Computer Programming, Data Processing, Etc. · $13.2B

$70.43−6.85%Nov 5 close · Databento

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TEM Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $70.431D −6.85%3M +27.92%SMA20 $70.49SMA50 $71.21RSI(14) 48.1

70.43

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 48.1

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$13.2B

Enterprise value$12.6B

Revenue$1.3B +83.4%

True FCF (ex-SBC)$-363.9M −13.2%

Rule of 4064.6%

Operating margin-19.9%

True FCF Yield-2.8%

EPS, diluted$-1.41 +77.4%

Modern Valuation (EOD)

Market Cap$13.2B

Enterprise Value$12.6B

EV / True FCF—

EV / FCF—

EV / Gross Profit—

EV / EBIT—

EV / Sales9.88

P / E (GAAP)—

P / FCF—

P / Oper. CF—

P / Book26.82

Owner & Cash Yields

True FCF Yield-2.8%

FCF Yield-1.8%

Owner Earn. Yield-2.7%

Earnings Yield-1.9%

Shareholder Yield−0.9%

Buyback Yield—

Dividend Yield—

Dividend / sh—

Payout Ratio0%

FCF / sh—

EPS (diluted)$-1.41

Compounder & Returns

Rule of 4064.6%

ROIC—

Cash ROIC (CROIC)—

GP / Assets—

ROE-49.9%

ROA-10.8%

Gross Margin—

Oper. Margin-19.9%

Net Margin-19.3%

FCF Margin-18.8%

True FCF Margin-28.6%

Quality & Dilution

Cash Conversion—

Accrual Ratio−1.2%

SBC % of FCF—

SBC % of Rev9.8%

Reinvest. Rate—

Sales Growth Y/Y+83.4%

Sales 3Y CAGR+58.3%

EPS Growth Y/Y+77.4%

FCF Growth Y/Y−13.2%

FCF 3Y CAGR—

Share Change Y/Y+45.4%

Balance Sheet & Scale

Revenue (FY)$1.3B

Gross Profit (FY)—

Oper. Income (FY)$-252.9M

GAAP Net Income$-245.0M

True FCF (ex-SBC)$-363.9M

Cash & Equiv$609.5M

Total Debt—

Net Cash (Debt)$609.5M

Net Cash % MCap+4.6%

Debt / FCF (yrs)—

Current Ratio3.13

Price & Technicals (EOD)

Perf Week−9.52%

Perf Month+0.11%

Perf Quarter+35.31%

Perf Half Y+42.37%

Perf YTD+24.04%

SMA 20 Dist−0.09%$70.49

SMA 50 Dist−1.10%$71.21

SMA 100 Dist+12.74%$62.47

Window High−17.22%$85.08

Window Low+69.51%$41.55

RSI (14) · Vol48.181%v

Income Distribution & Cash Flow ConversionHow every dollar of TEM revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$0 ($0.0 / $100)

R&D Reinvestment$172.9M ($13.6 / $100)

SG&A & Other OpEx$1.4B ($106.3 / $100)

Tax & Non-Operating$0 ($0.0 / $100)

Net Profit Kept$-245.0M ($0.0 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$-245.0M (-19.3% margin)

Operating Cash Flow (OCF)$-218.1M(-17.1% of rev)

Less: Capital Expenditures−$21.0M(1.7% of rev)

Standard Free Cash Flow (FCF)$-239.1M(-18.8% margin)

Less: Stock-Based Comp (SBC)−$124.7M

True FCF (Owner Cash ex-SBC)$-363.9M(-28.6% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2022	FY2023	FY2024	FY2025	YoY Δ	3Y CAGR
Income Statement
Revenue	$320.7M	$531.8M	$693.4M	$1.3B	+83.4%	+58.3%
Research & Development (R&D)	$83.2M	$90.3M	$149.3M	$172.9M	+15.8%	+27.6%
Selling, General & Admin (SG&A)	$233.4M	$296.8M	$755.4M	$731.7M	−3.1%	+46.4%
Operating Income (EBIT)	$-265.4M	$-196.1M	$-691.1M	$-252.9M	+63.4%	—
Income Tax Expense	$66,000	$288,000	$266,000	$-51.7M	−19530.1%	—
GAAP Net Income	$-289.8M	$-214.1M	$-705.8M	$-245.0M	+65.3%	—
Diluted EPS	$-5.30	$-4.20	$-6.23	$-1.41	+77.4%	—
Diluted Shares	63,032	63,306	119,849	174,264	+45.4%	+40.4%
Balance Sheet
Cash & Equivalents	$303.7M	$166.6M	$341.8M	$609.5M	+78.3%	+26.1%
Inventory	$53.8M	$28.8M	$38.4M	$51.7M	+34.7%	−1.3%
Total Current Assets	$1.1B	$350.3M	$667.6M	$1.2B	+74.8%	+0.9%
Total Assets	$2.5B	$564.1M	$926.1M	$2.3B	+145.6%	−2.5%
Total Current Liabilities	$436.4M	$232.6M	$291.1M	$372.4M	+27.9%	−5.2%
Total Liabilities	$2.0B	$840.7M	$869.8M	$1.8B	+105.1%	−3.0%
Stockholders' Equity	$-1.1B	$-1.4B	$56.3M	$491.3M	+772.1%	—
Net Cash / (Net Debt)	$303.7M	$166.6M	$341.8M	$609.5M	+78.3%	+26.1%
Invested Capital	$-1.4B	$-1.5B	$-285.5M	$-118.1M	+58.6%	—
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$-168.2M	$-214.3M	$-189.0M	$-218.1M	−15.4%	—
Depreciation & Amortization (D&A)	$16.7M	$21.3M	$26.4M	$32.1M	+21.6%	+24.3%
Stock-Based Compensation (SBC)	$0	$0	$534.1M	$124.7M	−76.6%	—
Capital Expenditures (CapEx)	$18.4M	$34.6M	$22.1M	$21.0M	−4.8%	+4.6%
Free Cash Flow (FCF)	$-186.6M	$-248.9M	$-211.2M	$-239.1M	−13.2%	—
True FCF (ex-SBC Owner Cash)	$-186.6M	$-248.9M	$-745.3M	$-363.9M	+51.2%	—
Dividends Paid	$5.6M	$5.6M	$5.6M	$0	−100.0%	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what TEM did at the next close after each story

No Wire story has named TEM yet.

What happened · big days

19 big days in a year, and what we hold on each

A big day is a close more than 8.43% from the one before, three times TEM’s median day (2.81%). On 1 of the 19, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±8.43%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayTEMWhat we hold that dayGroup (median of 4) · each

1 Nov 6, 2025−12.36%
Before our storiesgroup −1.3%, did not move with it
1Nov 6, 2025−12.36%
Before our stories
−1.3% did not move with itNBIS −6.5 · META −2.7 · GOOGL +0.1 · APP +0.7
2 Apr 15, 2026+13.89%
Before our storiesgroup +2.2%, did not move with it
2Apr 15, 2026+13.89%
Before our stories
+2.2% did not move with itAPP +7.2 · NBIS +3.0 · META +1.4 · GOOGL +1.3
3 Apr 30, 2026+10.92%
Before our storiesgroup −0.7%, did not move with it
3Apr 30, 2026+10.92%
Before our stories
−0.7% did not move with itGOOGL +10.0 · APP +0.7 · NBIS −2.1 · META −8.6
4 May 28, 2026+8.73%
Before our storiesgroup +3.0%, did not move with it
4May 28, 2026+8.73%
Before our stories
+3.0% did not move with itNBIS +8.6 · APP +5.7 · GOOGL +0.3 · META +0.0
5 Jun 4, 2026+10.00%
Before our storiesgroup +2.0%, did not move with it
5Jun 4, 2026+10.00%
Before our stories
+2.0% did not move with itGOOGL +3.7 · NBIS +3.2 · META +0.7 · APP −2.1
6 Jun 5, 2026−11.16%
Before our storiesgroup −3.3%, did not move with it
6Jun 5, 2026−11.16%
Before our stories
−3.3% did not move with itNBIS −12.3 · META −5.5 · GOOGL −1.0 · APP −0.3
7 Jun 15, 2026+9.41%
Nothing on TEMgroup +4.8%, moved with TEM
7Jun 15, 2026+9.41%
Nothing on TEMNo TEM story, brief or results filing in our record that day
+4.8% moved with TEMNBIS +11.9 · APP +4.8 · META +4.7 · GOOGL +2.7
8 Aug 7, 2026+12.86%
Nothing on TEMgroup −0.3%, did not move with it
8Aug 7, 2026+12.86%
Nothing on TEMNo TEM story, brief or results filing in our record that day
−0.3% did not move with itAPP +3.3 · META +0.4 · GOOGL −1.0 · NBIS −1.0
9 Aug 19, 2026+24.09%
Nothing on TEMgroup +0.3%, did not move with it
9Aug 19, 2026+24.09%
Nothing on TEMNo TEM story, brief or results filing in our record that day
+0.3% did not move with itAPP +1.1 · META +0.4 · GOOGL +0.1 · NBIS −9.9
10 Aug 20, 2026+8.82%
Nothing on TEMgroup −0.9%, did not move with it
10Aug 20, 2026+8.82%
Nothing on TEMNo TEM story, brief or results filing in our record that day
−0.9% did not move with itMETA −0.0 · APP −0.7 · GOOGL −1.2 · NBIS −1.7
11 Aug 21, 2026+9.06%
Nothing on TEMgroup +0.1%, did not move with it
11Aug 21, 2026+9.06%
Nothing on TEMNo TEM story, brief or results filing in our record that day
+0.1% did not move with itGOOGL +1.2 · META +0.8 · NBIS −0.5 · APP −1.0
12 Aug 24, 2026−8.97%
Nothing on TEMgroup −0.7%, did not move with it
12Aug 24, 2026−8.97%
Nothing on TEMNo TEM story, brief or results filing in our record that day
−0.7% did not move with itNBIS −3.8 · APP −2.4 · GOOGL +0.9 · META +1.7
13 Aug 28, 2026−9.41%
Nothing on TEMgroup +1.4%, did not move with it
13Aug 28, 2026−9.41%
Nothing on TEMNo TEM story, brief or results filing in our record that day
+1.4% did not move with itNBIS −4.3 · META +1.2 · APP +1.6 · GOOGL +1.7
14 Sep 15, 2026+10.67%
Nothing on TEMgroup −1.0%, did not move with it
14Sep 15, 2026+10.67%
Nothing on TEMNo TEM story, brief or results filing in our record that day
−1.0% did not move with itMETA +0.7 · APP −0.8 · GOOGL −1.3 · NBIS −2.3
15 Sep 17, 2026+14.85%
Nothing on TEMgroup +1.3%, did not move with it
15Sep 17, 2026+14.85%
Nothing on TEMNo TEM story, brief or results filing in our record that day
+1.3% did not move with itNBIS +4.1 · META +1.3 · GOOGL +1.3 · APP −1.5
16 Oct 5, 2026+9.03%
Nothing on TEMgroup +1.4%, did not move with it
16Oct 5, 2026+9.03%
Nothing on TEMNo TEM story, brief or results filing in our record that day
+1.4% did not move with itAPP +5.1 · META +1.9 · GOOGL +0.9 · NBIS −4.2
17 Oct 6, 2026−13.85%
Nothing on TEMgroup −0.0%, did not move with it
17Oct 6, 2026−13.85%
Nothing on TEMNo TEM story, brief or results filing in our record that day
−0.0% did not move with itAPP −1.1 · META −0.4 · GOOGL +0.3 · NBIS +7.4
18 Oct 16, 2026−9.01%
Nothing on TEMgroup −4.2%, did not move with it
18Oct 16, 2026−9.01%
Nothing on TEMNo TEM story, brief or results filing in our record that day
−4.2% did not move with itNBIS −12.2 · APP −4.7 · META −3.7 · GOOGL −2.5
19 Nov 2, 2026+8.67%
Resultsgroup −0.8%, did not move with it
19Nov 2, 2026+8.67%
ResultsFirst close after the Nov 2 results filing
−0.8% did not move with itAPP +0.1 · GOOGL −0.3 · META −1.3 · NBIS −8.3

A story on the same day is not a cause, and a group move is not proof either. Group: the median of GOOGL, META, APP and NBIS that day, the largest companies in TEM’s SEC industry; “moved with TEM” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). Day 1 is the first close after each filing: the next day’s for a filing after the close, the same day’s otherwise. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Jan 12, 2026

day 1+4.51%day 6+0.77%

Reported Feb 24, 2026

day 1−7.32%day 6−11.49%

Reported May 5, 2026

day 1−1.05%day 6−15.11%

Reported Jul 30, 2026

day 1−0.95%day 6+17.52%

Next report: expected early-to-late FebruaryEstimated from the dates of its last four results filings. Not announced. Since the Nov 2 report: −2.48%. Four reports is a small sample.

Every report since 2024 →

Each line is TEM’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

TEM against four same-industry peers, a year at 100

TEM is down 1.6% in a year. Nebius Group is up 8.2%, Alphabet 3.6% and Meta Platforms 1.3%. Of these four, only AppLovin (−42.6%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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TEM −1.6%. Nebius Group +8.2%, Alphabet +3.6%, Meta Platforms +1.3%, AppLovin −42.6%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in TEM’s SEC industry (Services-Computer Programming, Data Processing, Etc.) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

GOOGL	Alphabet	$3.53T	−2.20%
META	Meta Platforms	$1.62T	−3.96%
APP	AppLovin	$92.9B	+31.04%
NBIS	Nebius Group	$35.1B	−14.94%
ZM	Zoom Communications	$28.2B	−3.29%
PINS	Pinterest	$14.6B	−6.74%
FLUT	Flutter Entertainment	$14.2B	+1.44%
FDS	Factset Research Systems	$12.2B	−0.50%