Tempus AI's diagnostics-to-data-to-AI flywheel makes its roughly 7.2x forward sales interesting, about half Natera's and Guardant's 16x, though both grow faster. Q2 revenue rose 22% to $382.5M, Data Licensing & Modeling grew 36%, and 2026 guidance is about $1.6B of revenue and $65M of adjusted EBITDA. As a ~25% growth diagnostics company, ~7x may be reasonable; if growth reaccelerates toward 30%+, Data + Applications grows much larger and margins expand, the valuation could look very different. … Show more

GeneDx's proposed Medicare cuts may have a much smaller direct impact than its selloff implies. Craig-Hallum estimates a $5.6 million annual hit, about 1% of exome and genome revenue. Q2 testing volume grew 32%, though revenue per test is declining; the proprietary rare-disease database and potential for AI-driven interpretation remain compelling. At $65, risk/reward might be attractive again, but reimbursement, profitability and execution remain risks. November 3 earnings should clarify. x.com 

AI now makes early disease detection possible at scale, and catching disease early is always cheaper than treating it late. Detection names like Grail, Guardant, RadNet and Lunit win on distribution and reimbursement; grading names like Tempus, Veracyte, GE HealthCare and HeartFlow build data moats near treatment decisions. Monitoring via Natera, Personalis and iRhythm is the most asymmetric layer, a recurring subscription. NVIDIA gets paid whichever test wins. x.com 

BillionToOne is taking share in both prenatal testing and oncology thanks to patented technology that makes its tests more sensitive and specific. It is the only diagnostic peer that is GAAP profitable, and it may be best positioned to offer a genuinely useful early cancer detection test, adding optionality. On revenue it looks pricier, but its real comparables, Natera and Guardant Health, are about 50% more expensive while growing more slowly and earning less. x.com  x.com 

Personalis could be a swing trade on breakthrough cancer vaccine news, a holy grail whose importance is hard to overstate. Downstream players in mRNA cancer vaccines may have some juice. x.com  x.com 

Personalis can ramp colorectal cancer MRD testing aggressively once it secures reimbursement, and @subhashperi reports its CRC filing is in. CRC is the largest segment of the MRD market, and until reimbursement Tempus cannot unlock its full sales capacity without draining Personalis's balance sheet. x.com 

Tempus AI's growth story has become a real one, with Q2 revenue up 22% to $382.5 million, positive net income and EBITDA, a 73.5% gross margin and $816 million of cash. Its $1.5 billion Personalis deal owns the sequencing technology behind the Moderna-Merck mRNA cancer vaccine, whose strong Phase 3 melanoma results validated the bet. Piper Sandler upgraded it to Overweight with a $76 target, up from $56, citing Personalis and strong INTerpath-001 MRD data. $80 is support for the breakout. x.com 

Tempus AI is becoming a bigger health-tech player as pharma deals add a new services revenue stream beyond selling tests. BTIG's Mark Massaro raised his target to $80 from $70 with a Buy rating, mainly because Tempus will be the sequencing provider for Moderna and Merck's cancer vaccine program. The Personalis deal and MRD momentum add to a strengthening long-term AI and precision-oncology story, despite near-term volatility. x.com 

Personalis is rising because shareholders look increasingly likely to reject Tempus's takeover, not on hopes of a competing bid, so Craig-Hallum's downgrade misreads the move. Its Next platform will likely generate over $500 million of annual revenue, whatever Craig-Hallum says about the MRD market dwarfing Personalis's potential Moderna revenue. x.com 

Diagnostics companies such as Tempus AI and Personalis control data AI labs cannot easily get, because it is a byproduct of running diagnostics businesses that the labs have neither the appetite nor the skill to build. Per David Friedberg, via @dnapway, nearly every big pharma company refused Anthropic's request to share proprietary data for a new life sciences model. That leaves @lefkofsky's Tempus holding the winning hand. x.com