Tempus AI management stated on the July 30 earnings call that its data licensing agreement with AstraZeneca will continue past the end of 2026, potentially through 2028. The company confirmed that AstraZeneca remains a very large client for 2027 due to projects already committed to extend into that year, though the exact end date of the contract was not specified.
The duration of the deal is less certain than its pricing structure. AstraZeneca may secure lower, preferential rates by achieving certain volume or commitment benchmarks. If the drugmaker secures these discounts, Tempus AI receives less revenue per unit of data. Conversely, if AstraZeneca forgoes the discount, it pays standard rates but risks reducing usage to control costs. This dynamic presents a margin risk for Tempus AI as it seeks to maintain profitability in its data licensing segment.
Data and Apps, the unit responsible for data licensing, generated $93.2 million in revenue during the second quarter of 2026. This accounted for about a quarter of the company’s total sales of $382.5 million. The segment is growing faster than the broader business, with Data and Apps revenue rising 28% year over year, compared with a 22% increase for the whole company. Within that unit, the data licensing and modeling business grew 36%.
Despite this growth, Tempus AI reported a net loss of $254 million over the twelve months ending in June 2026. As a result, its price-to-earnings ratio is not meaningful. The same multiple stood at 11.6 at the end of June 2025. The shares currently trade 30.4% below their highest close from the past year.
Tempus AI has demonstrated significant volatility in response to market events. During the 2025 tariff shock, the stock dropped 57%, while the S&P 500 fell 19%. Over the past month, Tempus AI shares have lost 17.3%, even as the S&P 500 gained 0.6%. The company continues to expand its client base beyond AstraZeneca, with BioNTech joining GlaxoSmithKline and Bristol Myers Squibb as a data licensing client in the second quarter of 2026. Total bookings for that period reached approximately $200 million.
Investors monitoring Tempus AI will likely focus on Data and Apps revenue growth in upcoming reports, particularly as the company approaches its third-quarter results for 2026. The potential impact of AstraZeneca’s pricing decisions remains a key variable for future revenue per unit.