10-K · March 3, 2026
Caris presents itself as a data- and AI-driven precision oncology platform with a strategy to monetize a large multi‑omic clinico‑genomic dataset, expand tissue- and blood-based offerings, and commercialize WGS-based…
Earnings analysis · 10-Q
CAI earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
Caris Life Sciences posted a robust Q1 2026 with revenue of $216.2 million, a significant 79% increase year-over-year, and an EPS of $0.00, better than the expected loss of $0.02. The company reported a notable…
Read full summary
Caris Life Sciences posted a robust Q1 2026 with revenue of $216.2 million, a significant 79% increase year-over-year, and an EPS of $0.00, better than the expected loss of $0.02. The company reported a notable improvement in Adjusted EBITDA and free cash flow, signaling enhanced operational efficiency. Despite ongoing losses, management emphasized growth driven by increased molecular profiling service revenues and positive future market penetration.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.0
- Segment
- Molecular Profiling Services
- Segment
- Pharma Research and Development Services
What stood out
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Total Revenue Growth
Revenue rose to $216.2 million, up 78.8% from $120.9 million in Q1 2025.
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Loss Reduction
Net loss reduced to $0.5 million compared to a loss of $102.6 million in Q1 2025.
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Positive Adjusted EBITDA
Adjusted EBITDA improved to $26.2 million, compared to a loss of $36.2 million in Q1 2025.
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Operating Cash Flow Improvement
Operating cash flow was positive at $32.9 million, recovering from negative $31.3 million in Q1 2025.
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Molecular Profiling Services Revenue Surge
Molecular profiling services revenue increased by 84.8%, reaching $210.8 million.
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Increased Cash Position
Cash and cash equivalents stood at $825.7 million as of March 31, 2026.
What to watch
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Net Loss Continues
The company reported a net loss of $0.5 million, indicating ongoing financial strain.
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Increasing Operating Expenses
Total operating expenses have risen to $210.9 million from $178.9 million, possibly affecting margins.
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Regulatory Investigations
The company is under investigation by the U.S. DOJ regarding compliance with Medicare's 14-day rule, which poses legal risks.
Management's outlook
Management reaffirmed full year 2026 revenue guidance of $1.0B to $1.02B, expecting continued growth driven by increased case volumes.
Earlier filings 3
10-Q · November 5, 2025
Caris reported a strong operational quarter: Q3 2025 revenue of $216,833 (amounts in thousands) and GAAP net income of $24,325 (thousands), reversing the prior-year Q3 loss. Gross margin expanded to 68.0% and operating…
10-Q · August 12, 2025
Caris reported Q2 revenue of $181.398M, up materially from $100.049M in Q2 2024, driven by molecular profiling and pharma R&D services. Gross margin expanded to ~62.7% and operating loss narrowed to $(17.989)M from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.