12:50 PM EST, 11/05/2024 (MT Newswires) -- Tempus AI ( TEM ) shares fell nearly 12% in recent Tuesday trading, a day after reporting an adjusted loss for Q3 on higher revenue and a deal to acquire Ambry Genetics for $600 million.

The company reported a Q3 adjusted net loss of $0.25 per diluted share. Tempus AI ( TEM ) didn't provide adjusted figures for the year-ago period.

Analysts polled by Capital IQ expected an adjusted loss of $0.31.

Revenue for the quarter ended Sept. 30 was $180.9 million, up from $136.1 million a year earlier.

Analysts surveyed by Capital IQ expected $179.6 million.

The company said it continues to expect 2024 revenue of about $700 million. Analysts polled by Capital IQ expect $698.1 million.

Additionally, Tempus said it has agreed to acquire Ambry Genetics for $600 million in cash and shares to expand its cancer testing and genetic screening.

As part of the deal, $375 million will be paid in cash and $225 million in shares at closing, Tempus said. The deal is financed partly by $300 million in debt from lender Ares, it added.

Price: 43.75, Change: -5.76, Percent Change: -11.63