Caris Life Sciences, Inc. (CAI) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CAI SEC filings page.
Caris Life Sciences, Inc. (CAI) reported $989.6M in revenue over the twelve months to Jun 30, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Caris moved from heavy cash consumption to positive operating cash flow, but financing and interest expense still shape the business.
FY2025 paired positive operating cash flow with a net loss, so reported earnings understate the cash generated by current operations. However, interest expense of$57M exceeded operating income of$45M , showing why cash generation did not yet translate into bottom-line profitability.
Revenue nearly doubled from FY2024 to FY2025 while selling, general and administrative expense increased much more slowly, helping operating margin shift from
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Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Caris Life Sciences, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Caris Life Sciences, Inc. has an operating margin of 5.6%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 17/100, suggesting thin profitability after operating expenses. This is up from -62.4% the prior year.
Caris Life Sciences, Inc.'s revenue surged 97.0% year-over-year to $812.0M, reflecting rapid business expansion. This strong growth earns a score of 96/100.
Caris Life Sciences, Inc. carries a low D/E ratio of 0.66, meaning only $0.66 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.85, Caris Life Sciences, Inc. holds $7.85 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 96/100.
Caris Life Sciences, Inc.'s free cash flow margin of 8.2% results in a low score of 6/100. Capital expenditures of $16.3M absorb a large share of operating cash flow.
Caris Life Sciences, Inc. posts a -11.8% return on equity (ROE), meaning it loses $12 for every $100 of shareholders' equity. This results in a returns score of 14/100.
Caris Life Sciences, Inc. scores 7.75, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.3B) relative to total liabilities ($548.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Caris Life Sciences, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Caris Life Sciences, Inc. reported a net loss of $68.1M while generating $83.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Caris Life Sciences, Inc. earns $0.79 in operating income for every $1 of interest expense ($45.1M vs $56.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Caris Life Sciences, Inc. generated $263.7M in revenue in Q2 2026. This represents an increase of 45.4% from the same quarter a year earlier. Against the prior quarter it is up 22.0%.
Caris Life Sciences, Inc.'s EBITDA was $33.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 388.4% from the same quarter a year earlier. Against the prior quarter it is up 223.1%.
Caris Life Sciences, Inc. reported -$637K in net income in Q2 2026. This represents an increase of 99.1% from the same quarter a year earlier. Against the prior quarter it is down 24.9%.
Caris Life Sciences, Inc. earned $0.00 per diluted share (EPS) in Q2 2026. This represents an increase of 100.0% from the same quarter a year earlier.
Cash & Balance Sheet
Caris Life Sciences, Inc. generated $6.4M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 8.5% from the same quarter a year earlier. Against the prior quarter it is down 71.6%.
Caris Life Sciences, Inc. carried $393.0M in long-term debt as of Q2 2026; cash and equivalents are not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Caris Life Sciences, Inc.'s operating margin was 10.2% in Q2 2026, reflecting core business profitability. This is up 20.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.8 percentage points.
Caris Life Sciences, Inc.'s net profit margin was -0.2% in Q2 2026, showing the share of revenue converted to profit. This is up 39.3 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Caris Life Sciences, Inc.'s ROE was -0.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 15.7 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Capital Allocation
Caris Life Sciences, Inc. invested $32.4M in research and development in Q2 2026. This represents an increase of 29.2% from the same quarter a year earlier. Against the prior quarter it is up 3.3%.
Caris Life Sciences, Inc. spent $21.4M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding.
Caris Life Sciences, Inc. invested $22.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 1492.7% from the same quarter a year earlier. Against the prior quarter it is up 113.5%.
CAI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $263.7M+45.4% | $216.2M+78.8% | $292.9M | $216.8M+113.4% | $181.4M+81.3% | $120.9M | N/A | $101.6M |
| R&D Expenses | $32.4M+29.2% | $31.3M+35.8% | $31.8M | $21.6M-21.8% | $25.0M+1.0% | $23.1M | N/A | $27.6M |
| SG&A Expenses | $66.5M+3.4% | $59.7M+14.6% | $56.5M | $52.0M+27.2% | $64.4M+56.7% | $52.1M | N/A | $40.9M |
| Operating Income | $26.9M+249.7% | $5.3M+109.1% | $88.4M | $32.6M+153.7% | -$18.0M+73.2% | -$58.0M | N/A | -$60.8M |
| EBITDA | $33.4M+388.4% | $10.3M+120.3% | $92.7M | $37.5M+174.6% | -$11.6M+79.1% | -$50.9M | N/A | -$50.3M |
| Interest Expense | $9.2M-52.0% | $12.8M+0.2% | $11.3M | $13.5M-2.1% | $19.2M+40.5% | $12.8M | N/A | $13.8M |
| Income Tax | $23K | -$134K | $0 | $0 | $0 | $0 | N/A | $0 |
| Net Income | -$637K+99.1% | -$510K+99.5% | $82.0M | $24.3M+135.9% | -$71.8M-8.5% | -$102.6M | N/A | -$67.7M |
| EPS (Basic) | $0.00+100.0% | $0.00+100.0% | $1.61+192.5% | $0.09+103.5% | -$7.97-213.8% | -$3.57 | -$1.74 | -$2.59 |
| EPS (Diluted) | $0.00+100.0% | $0.00+100.0% | $1.61 | $0.08 | -$7.97 | -$3.57 | -$1.74 | -$2.59 |
| Diluted Shares (Avg) | 283M+335.8% | 283M+693.2% | N/A | 297M | 65M | 36M | N/A | 36M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
CAI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+28.7% | $1.2B | $1.1B+227.5% | $984.6M | $955.1M | N/A | $343.7M | N/A |
| Current Assets | $1.1B+26.9% | $1.0B | $997.8M+362.5% | $854.2M | $833.3M | N/A | $215.7M | N/A |
| Cash & Equivalents | N/A | $819.9M+2527.8% | $796.3M+1145.2% | $753.2M | $718.9M | $31.2M | $64.0M | N/A |
| Short-Term Investments | $102.2M+4444.2% | $2.3M | $2.3M+4.3% | $2.3M | $2.2M | $0 | $2.2M | N/A |
| Accounts Receivable | $116.9M+129.7% | $90.5M | $112.1M+27.1% | $26.7M | $50.9M | N/A | $88.2M | N/A |
| Long-Term Investments | N/A | $0 | $0 | $0 | $0 | $0 | $0 | N/A |
| Goodwill | $19.3M0.0% | $19.3M | $19.3M0.0% | $19.3M | $19.3M | N/A | $19.3M | N/A |
| Total Liabilities | $637.9M+27.0% | $568.9M | $548.4M-80.7% | $506.2M | $502.2M | N/A | $2.8B | N/A |
| Current Liabilities | $191.4M+112.3% | $143.9M | $127.1M-23.1% | $86.0M | $90.2M | N/A | $165.4M | N/A |
| Non-Current Liabilities | $446.4M+8.4% | $425.0M | $421.2M-84.3% | $420.2M | $412.0M | N/A | $2.7B | N/A |
| Long-Term Debt | $393.0M+5.2% | $381.4M | $378.8M+18.6% | $376.3M | $373.6M | N/A | $319.4M | N/A |
| Total Equity | $591.7M+30.7% | $593.5M+122.8% | $577.3M+123.1% | $478.4M+119.6% | $452.9M+119.2% | -$2.6B | -$2.5B | -$2.4B |
| Retained Earnings | -$2.5B+4.0% | -$2.5B | -$2.5B-3.1% | -$2.6B | -$2.7B | N/A | -$2.5B | N/A |
Not reported in any period shown, so not listed: Inventory.
CAI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $28.5M+290.7% | $32.9M+204.9% | $44.8M+215.1% | $62.4M+189.9% | $7.3M | -$31.3M | -$38.9M | -$69.4M |
| Depreciation & Amortization | $6.5M+1.6% | $5.1M-28.1% | $4.3M-52.7% | $4.9M-53.3% | $6.4M-44.8% | $7.0M | $9.1M | $10.5M |
| Stock-Based Compensation | $22.2M-21.5% | $15.9M+8.0% | N/A | $13.7M+189.1% | $28.3M+530.8% | $14.7M | N/A | $4.7M |
| Capital Expenditures | $22.1M+1492.7% | $10.3M+284.6% | $5.1M+122.3% | $7.1M+288.1% | $1.4M | $2.7M | $2.3M | $1.8M |
| Free Cash Flow | $6.4M+8.5% | $22.5M+166.2% | $39.7M+196.3% | $55.3M+177.7% | $5.9M | -$34.0M | -$41.2M | -$71.3M |
| Investing Cash Flow | -$122.2M-8716.2% | -$10.3M-284.6% | -$5.1M-122.3% | -$7.1M-288.1% | -$1.4M | -$2.7M | -$2.3M | -$1.8M |
| Financing Cash Flow | -$36.9M-105.4% | $824K-35.9% | $3.4M+1404.0% | -$21.1M-24349.4% | $681.4M | $1.3M | $226K | $87K |
| Share Buybacks | $21.4M | $0-100.0% | $91K | $0 | $0 | $22K | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
CAI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.2%+20.1pp | 2.4%+50.4pp | 30.2% | 15.0%+74.9pp | -9.9%+57.1pp | -47.9% | N/A | -59.9% |
| Net Margin | -0.2%+39.3pp | -0.2%+84.6pp | 28.0% | 11.2%+77.9pp | -39.6%+26.6pp | -84.8% | N/A | -66.6% |
| Return on Equity | -0.1%+15.7pp | -0.1% | 14.2% | 5.1% | -15.8% | N/A | N/A | N/A |
| Return on Assets | -0.1%+7.5pp | 0.0% | 7.3% | 2.5% | -7.5% | N/A | N/A | N/A |
| Current Ratio | 5.53-3.7x | 7.05 | 7.85+6.5x | 9.93 | 9.24 | N/A | 1.30 | N/A |
| Debt-to-Equity | 0.66-0.2x | 0.64 | 0.66 | 0.79 | 0.82 | N/A | N/A | N/A |
| Asset Turnover | 0.210.0x | 0.19 | 0.26 | 0.22 | 0.19 | N/A | N/A | N/A |
| FCF Margin | 2.4%-0.8pp | 10.4%+38.6pp | 13.6% | 25.5%+95.6pp | 3.3% | -28.1% | N/A | -70.1% |
Not reported in any period shown, so not listed: Gross Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Caris Life Sciences, Inc. CAI | FY2025 | $812.0M | -$68.1M | -8.4% | $8.3B | 55/100 |
| Moderna, Inc. MRNA | FY2025 | $1.9B | -$2.8B | N/A | $89.8B | 31/100 |
| Roivant Sciences Ltd. ROIV | FY2026 | $8.3M | -$299.8M | N/A | $25.6B | 66/100 |
| Madrigal Pharmaceuticals, Inc. MDGL | FY2025 | $958.4M | -$288.3M | -30.1% | $10.9B | 70/100 |
| Halozyme Therapeutics, Inc. HALO | FY2025 | $1.4B | $316.9M | 22.7% | $12.5B | 78/100 |
| Verona Pharma plc VRNA | FY2024 | $42.3M | -$173.4M | N/A | $9.2B | 60/100 |
Where Caris Life Sciences, Inc. Ranks
Frequently Asked Questions
What is Caris Life Sciences, Inc.'s annual revenue?
Caris Life Sciences, Inc. (CAI) reported $812.0M in total revenue for fiscal year 2025. This represents a 97.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Caris Life Sciences, Inc.'s revenue growing?
Caris Life Sciences, Inc. (CAI) revenue grew by 97.0% year-over-year, from $412.3M to $812.0M in fiscal year 2025.
Is Caris Life Sciences, Inc. profitable?
No, Caris Life Sciences, Inc. (CAI) reported a net income of -$68.1M in fiscal year 2025, with a net profit margin of -8.4%.
What is Caris Life Sciences, Inc.'s EBITDA?
Caris Life Sciences, Inc. (CAI) had EBITDA of $67.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Caris Life Sciences, Inc. have?
As of fiscal year 2025, Caris Life Sciences, Inc. (CAI) had $796.3M in cash and equivalents against $378.8M in long-term debt.
What is Caris Life Sciences, Inc.'s operating margin?
Caris Life Sciences, Inc. (CAI) had an operating margin of 5.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Caris Life Sciences, Inc.'s net profit margin?
Caris Life Sciences, Inc. (CAI) had a net profit margin of -8.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Caris Life Sciences, Inc.'s return on equity (ROE)?
Caris Life Sciences, Inc. (CAI) has a return on equity of -11.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Caris Life Sciences, Inc.'s free cash flow?
Caris Life Sciences, Inc. (CAI) generated $66.9M in free cash flow during fiscal year 2025. This represents a 126.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Caris Life Sciences, Inc.'s operating cash flow?
Caris Life Sciences, Inc. (CAI) generated $83.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Caris Life Sciences, Inc.'s total assets?
Caris Life Sciences, Inc. (CAI) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Caris Life Sciences, Inc.'s capital expenditures?
Caris Life Sciences, Inc. (CAI) invested $16.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Caris Life Sciences, Inc. spend on research and development?
Caris Life Sciences, Inc. (CAI) invested $101.6M in research and development during fiscal year 2025.
What is Caris Life Sciences, Inc.'s current ratio?
Caris Life Sciences, Inc. (CAI) had a current ratio of 7.85 as of fiscal year 2025, which is generally considered healthy.
What is Caris Life Sciences, Inc.'s debt-to-equity ratio?
Caris Life Sciences, Inc. (CAI) had a debt-to-equity ratio of 0.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Caris Life Sciences, Inc.'s return on assets (ROA)?
Caris Life Sciences, Inc. (CAI) had a return on assets of -6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Caris Life Sciences, Inc.'s P/E ratio?
Caris Life Sciences, Inc. (CAI) trades at 79.4x earnings, its market capitalization divided by net income of $105.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $8.3B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Caris Life Sciences, Inc.'s price-to-sales ratio?
Caris Life Sciences, Inc. (CAI) trades at 8.4x sales, its market capitalization divided by revenue of $989.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $8.3B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Caris Life Sciences, Inc.'s Altman Z-Score?
Caris Life Sciences, Inc. (CAI) has an Altman Z-Score of 7.75, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Caris Life Sciences, Inc.'s Piotroski F-Score?
Caris Life Sciences, Inc. (CAI) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Caris Life Sciences, Inc.'s earnings high quality?
Caris Life Sciences, Inc. (CAI) reported a net loss of $68.1M while generating $83.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Caris Life Sciences, Inc. cover its interest payments?
Caris Life Sciences, Inc. (CAI) has an interest coverage ratio of 0.79x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Caris Life Sciences, Inc.?
Caris Life Sciences, Inc. (CAI) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.