Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Tempus AI reported total revenue growth of 22% year-over-year in the second quarter of 2026, reaching $382.5 million, marking the first quarter with full integration of Ambry Genetics in the results.</li><li>The Diagnostics segment accounted for $289.3 million of revenue, up 20% year-over-year, despite slower growth in hereditary cancer testing balanced by accelerated growth in comprehensive genomic profiling (CGP).</li><li>Hereditary testing revenues increased by 5%, while the Data and Applications segment grew 28% to $93.2 million, driven by a 36% rise in data licensing and modeling business insights.</li></ul>

Tempus AI reported total revenue growth of 22% year-over-year in the second quarter of 2026, reaching $382.5 million, marking the first quarter with full integration of Ambry Genetics in the results.The Diagnostics segment accounted for $289.3 million of revenue, up 20% year-over-year, despite slower growth in hereditary cancer testing balanced by accelerated growth in comprehensive genomic profiling (CGP).Hereditary testing revenues increased by 5%, while the Data and Applications segment grew 28% to $93.2 million, driven by a 36% rise in data licensing and modeling business insights.

Tempus AI's AstraZeneca, BioNTech & Merck Deals — Pharma Demand Keeps Building

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>
<a href="https://smartkarma.com/entities/tempus-ai-inc">Tempus AI</a> is a precision medicine company that leverages artificial intelligence and one of the world's largest clinical and molecular databases to enhance data-driven decision-making for physicians, primarily in oncology.</li>
  <li>The company's growth is propelled by a dual-revenue stream: providing genomic sequencing services to clinicians and licensing its vast, de-identified multimodal data to pharmaceutical companies for research and development.</li>
  <li>A key strategic initiative is the pending $1.5 billion acquisition of Personalis, which is expected to significantly bolster Tempus's capabilities in the high-growth molecular residual disease (MRD) testing market, though it remains subject to regulatory and shareholder approval.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Tempus AI is a precision medicine company that leverages artificial intelligence and one of the world's largest clinical and molecular databases to enhance data-driven decision-making for physicians, primarily in oncology.
  The company's growth is propelled by a dual-revenue stream: providing genomic sequencing services to clinicians and licensing its vast, de-identified multimodal data to pharmaceutical companies for research and development.
  A key strategic initiative is the pending $1.5 billion acquisition of Personalis, which is expected to significantly bolster Tempus's capabilities in the high-growth molecular residual disease (MRD) testing market, though it remains subject to regulatory and shareholder approval.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

<ul><li>Tempus AI has moved to deepen its position in precision oncology through a definitive agreement to acquire Personalis, its existing partner in molecular residual disease testing.</li><li>Announced on July 20, 2026, the transaction values the remaining Personalis equity at $16.25 per share and implies an enterprise value of roughly $1.5 billion, net of Tempus’ existing stake.</li><li>The consideration is structured primarily as stock, although Tempus may elect to fund up to half in cash, with closing expected in late 2026 or early 2027, subject to shareholder and regulatory approvals.</li></ul>

Tempus AI has moved to deepen its position in precision oncology through a definitive agreement to acquire Personalis, its existing partner in molecular residual disease testing.Announced on July 20, 2026, the transaction values the remaining Personalis equity at $16.25 per share and implies an enterprise value of roughly $1.5 billion, net of Tempus’ existing stake.The consideration is structured primarily as stock, although Tempus may elect to fund up to half in cash, with closing expected in late 2026 or early 2027, subject to shareholder and regulatory approvals.

Tempus AI Acquisition Bombshell: The $1.5 Billion MRD Bet!

<ul><li>The latest quarter for Tempus AI demonstrated continued growth across its core business segments, with total revenue reaching $348.1 million, reflecting a 36% increase year-over-year.</li><li>Diagnostic revenue totaled $261.1 million, rising nearly 35%, driven primarily by strength in Oncology, including solid tumor, liquid biopsies, and notably minimal residual disease (MRD) volumes.</li><li>However, growth in the hereditary testing segment slowed, attributed in part to a challenging comparison against strong prior-year results.</li></ul>

The latest quarter for Tempus AI demonstrated continued growth across its core business segments, with total revenue reaching $348.1 million, reflecting a 36% increase year-over-year.Diagnostic revenue totaled $261.1 million, rising nearly 35%, driven primarily by strength in Oncology, including solid tumor, liquid biopsies, and notably minimal residual disease (MRD) volumes.However, growth in the hereditary testing segment slowed, attributed in part to a challenging comparison against strong prior-year results.

Tempus AI's Big Pharma Data Push: AI Models Meet Recurring Revenue Momentum!

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Software rebounded in August, outperforming Semiconductors. </li><li>The WTR AI Index rose 7.3% M/M, ahead of the S&amp;P 500 (up 2.6%), the Russell 2000 (up 0.9%), and the Nasdaq (up 4.2%).</li><li> Software (24% of the index) gained 11.0% while Semiconductors (18% of the index) slipped 1.2%, reversing the Semis-led pattern that has dominated most of 2026. </li></ul>

Software rebounded in August, outperforming Semiconductors. The WTR AI Index rose 7.3% M/M, ahead of the S&amp;P 500 (up 2.6%), the Russell 2000 (up 0.9%), and the Nasdaq (up 4.2%). Software (24% of the index) gained 11.0% while Semiconductors (18% of the index) slipped 1.2%, reversing the Semis-led pattern that has dominated most of 2026. 

AI Flow Index : Sailing a Sea of Companies in AI - 8 September 2026

United States

Tempus AI, Inc. operates as a clinical laboratory. The Company provides genomic sequencing services and analyze molecular and therapeutic data to help physicians to make real-time and data-driven decisions.Tempus AI serves customers in the United States.

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Tempus AI (TEM US)

Tempus AI's AstraZeneca, BioNTech & Merck Deals — Pharma Demand Keeps Building

Tempus AI reported total revenue growth of 22% year-over-year in the second quarter of 2026, reaching $382.5 million, marking the first quarter...

Baptista Research

Primer: Tempus AI (TEM US) - Aug 2026

Tempus AI is a precision medicine company that leverages artificial intelligence and one of the world's largest clinical and molecular...

αSK Primers

Tempus AI Acquisition Bombshell: The $1.5 Billion MRD Bet!

Tempus AI has moved to deepen its position in precision oncology through a definitive agreement to acquire Personalis, its existing partner in...

Baptista Research

Tempus AI's Big Pharma Data Push: AI Models Meet Recurring Revenue Momentum!

The latest quarter for Tempus AI demonstrated continued growth across its core business segments, with total revenue reaching $348.1 million,...

Baptista Research

AI Flow Index : Sailing a Sea of Companies in AI - 8 September 2026

The move mirrors better-than-expected 2Q results across the software group and some easing of near-term fears about AI disruption to application...

Water Tower Research

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