Caris Life Sciences, Inc. CAI
We are a leading, patient-centric, next-generation AI TechBio company and precision medicine pioneer. We develop and commercialize innovative solutions to transform healthcare through the use of comprehensive molecular information and artificial intelligence/machine learning algorithms at scale. Our entire portfolio of precision medicine solutions is designed to benefit patients, with an initial focus on oncology, and serves the clinical, academic, and biopharma markets.
We founded Caris in 2008 with the belief and vision that combining a vast set of consistently generated molecular information with robust data-driven insights could realize the potential of precision medicine for patients. We have spent the last 17 years developing and building our portfolio of comprehensive, proprietary molecular profiling solutions and generating what we believe to be one of the largest and most comprehensive multi-modal clinico-genomic datasets in oncology. As of December 31, 2025, we have performed sequencing on over 1,000,000 cases. Our platform is purpose-built to leverage the convergence of next-generation sequencing ("NGS"), artificial intelligence ("AI") and machine learning ("ML") technologies, and high-performance computing. The power of our differentiated Caris platform has enabled us to develop the latest generation of advanced precision medicine diagnostic solutions designed to address the entire cancer care continuum, including early detection, minimal residual disease ("MRD") tracking, therapy selection, and treatment monitoring, as well as to create molecular signatures and discover and develop novel precision medicine therapeutics. Our Molecular Intelligence product portfolio is currently focused on oncology and consists of: (1) our MI Profile Platform, our whole exome sequencing ("WES")/whole transcriptome sequencing ("WTS") tissue-based molecular profiling solutions, (2) our Caris Assure Platform, our WES/WTS blood-based molecular profiling solutions, and (3) our Precision Whole Genome Platform, our whole genome sequencing ("WGS") blood- and tissue-based profiling solutions.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Molecular profiling services
- Pharma research and development services
| Segment | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Molecular profiling services | $766.7M | $349.1M | $278.7M |
| Pharma research and development services | $45.3M | $63.1M | $27.4M |
As the company reported it, from the “Segment and Geographic Information - Schedule of Segment Reporting (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $812.0M | $412.3M | $306.1M | — |
| R&D | $101.6M | $113.9M | $116.9M | — |
| SG&A | $225.0M | $169.4M | $149.1M | — |
| Total operating expenses | $766.9M | $669.4M | $625.7M | — |
| Operating income | $45.1M | -$257.1M | -$319.6M | — |
| Interest expense | $56.9M | $50.0M | $31.6M | — |
| Pre-tax income | -$68.1M | -$281.9M | -$341.4M | — |
| Income tax | $0 | $0 | $0 | — |
| Net income | -$68.1M | -$281.9M | -$341.4M | — |
| EPS, basic | -3.22 | -10.66 | -13.24 | — |
| EPS, diluted | -3.22 | -10.66 | -13.24 | — |
| Shares, diluted (wtd. avg.) | 167.2M | 35.5M | 34.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $796.3M | $64.0M | — | — |
| Short-term investments | $2.3M | $2.2M | — | — |
| Receivables | $112.1M | $88.2M | — | — |
| Total current assets | $997.8M | $215.7M | — | — |
| Property, plant and equipment | $63.2M | $67.8M | — | — |
| Goodwill | $19.3M | $19.3M | — | — |
| Total assets | $1.13B | $343.7M | — | — |
| Accounts payable | $39.2M | $27.8M | — | — |
| Short-term debt | $169.0K | $60.1M | — | — |
| Total current liabilities | $127.1M | $165.4M | — | — |
| Long-term debt | $378.8M | $319.4M | — | — |
| Total liabilities | $548.4M | $620.9M | — | — |
| Retained earnings | -$2.55B | -$2.47B | — | — |
| Total equity | $577.3M | -$2.50B | -$2.14B | -$1.70B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $83.2M | -$245.2M | -$276.1M | — |
| Depreciation and amortisation | $22.6M | $48.9M | $49.0M | — |
| Stock-based compensation | $70.0M | $18.6M | $15.2M | — |
| Capital expenditure | $16.3M | $8.4M | $22.3M | — |
| Investing cash flow | -$16.3M | $52.9M | $214.8M | — |
| Financing cash flow | $665.0M | $200.3M | $10.1M | — |
| Buybacks | $113.0K | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0002019410-26-000016.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $306.1M | $412.3M | $812.0M |
| Gross profit | — | — | — | — |
| Net income | — | -$341.4M | -$281.9M | -$68.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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