SAN FRANCISCO — Tempo Automation reported revenue of $2.4 million in the third quarter, down 56% from the $5.4 million in revenue in the third quarter of 2021.

The company said the decrease in revenue was primarily due to ongoing semiconductor industry supply chain shortages, along with the termination of the new product introduction (“NPI”) portion of the product development lifecycle of a significant customer program.

For the first nine months of the year, revenue decreased 32% to $9.1 million from $13.4 million for the nine months ended September 30, 2021.

Looking at the next quarter, the company expects revenue between $2.3 million and $2.9 million, and for the full year, Tempo expects revenue of between $11.4 million and $12 million. For 2023, the company projects revenue between $14 million and $17 million.

• Prev
• Next