Caris Life Sciences Inc
NASDAQ:CAI
Caris Life Sciences Inc
Caris Life Sciences Inc is a US-based company operating in Biotechnology industry. The company is headquartered in Irving, Texas. The company went IPO on 2025-06-18. Caris Life Sciences Inc. is a patient-centric, next-generation artificial intelligence tech bio company and precision medicine provider. The firm develops and commercializes solutions to transform healthcare through the use of comprehensive molecular information and artificial intelligence/machine learning algorithms at scale. Its 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. Its 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. Its purpose-built, proprietary multi-omic profiling solutions capture and analyze molecular information from tissue and blood in a comprehensive manner. Its services for biopharma companies include prospective and retrospective profiling services, and companion diagnostics development.
Caris Life Sciences Inc is a US-based company operating in Biotechnology industry. The company is headquartered in Irving, Texas. The company went IPO on 2025-06-18. Caris Life Sciences Inc. is a patient-centric, next-generation artificial intelligence tech bio company and precision medicine provider. The firm develops and commercializes solutions to transform healthcare through the use of comprehensive molecular information and artificial intelligence/machine learning algorithms at scale. Its 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. Its 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. Its purpose-built, proprietary multi-omic profiling solutions capture and analyze molecular information from tissue and blood in a comprehensive manner. Its services for biopharma companies include prospective and retrospective profiling services, and companion diagnostics development.
Revenue Surge: Caris posted record Q3 revenue of $216.8 million, up 113% year-over-year, driven by strong molecular profiling growth.
Profitability Milestone: The company delivered positive adjusted EBITDA of $51.2 million, net income of $24.3 million, and free cash flow of $55.3 million—its first ever positive net income in 17 years.
Margins Jump: Gross margin improved significantly to 68%, up from 43.7% a year earlier, with sequential improvement from Q2’s 62.7%.
Volume & ASP Growth: Clinical case volumes grew 18% YoY to nearly 51,000, and average selling price (ASP) per profile jumped 87% YoY to $4,890, supported by favorable reimbursement and true-ups.
Raised Outlook: Full-year 2025 revenue guidance was raised to $720–730 million (up 75–77% YoY), and clinical therapy selection volume growth is now expected at 21–22%.
Cash Position: Cash on hand rose to nearly $760 million, up 4.7% sequentially, giving the company room for strategic investments.
Pipeline Progress: Updates were given on MRD colorectal, Caris Chroma Seed, and MI Clarity products, with data readouts and submissions anticipated in the coming quarters.
Strong Operating Leverage: Significant growth achieved without major headcount increases, supported by efficient sales channels and established physician relationships.
