Caris Life Sciences, Inc. (CAI) Form 10-Q — Aug 5, 2026

$CAIForm 10-QFiled Aug 5, 2026, 5:00 PM ET0002019410-26-000055Original filing

Caris Life Sciences reported Q2 2026 revenue of $263.7 million, up 45.4% year over year, driven by 54.8% growth in molecular profiling services as clinical cases rose to roughly 59,200 from about 50,000 a year earlier. The profitability picture inflected sharply: income from operations swung to $26.9 million from a $18.0 million loss, the net loss narrowed to $0.6 million from $71.8 million, and Adjusted EBITDA reached $55.7 million versus $16.7 million, with $28.9 million of first-half free cash flow versus negative $28.1 million in 2025.

Key figures

Eps: $(0.00) basic and diluted (Q2 2026) vs $(7.97) (Q2 2025)
Revenue: $263.7 million (Q2 2026); $479.9 million (six months 2026)
Net Income: -$0.6 million (Q2 2026) vs -$71.8 million (Q2 2025); -$1.1 million (six months 2026)
Total Debt: $400.0 million principal outstanding under 2026 Term Loan
Revenue Yoy: +45.4% (Q2 2026 vs Q2 2025); molecular profiling services +54.8%
Total Assets: $1,229.6 million as of June 30, 2026
Cash Position: $794.9 million cash, cash equivalents, restricted cash and marketable securities as of June 30, 2026 ($690.9 million on balance sheet plus $102.2 million short-term marketable securities)
Shares Outstanding: 282595186
Gross Profit Q2: $179.6 million, +58.0% YoY
Clinical Cases Q2: 59,200 vs approximately 50,000 (Q2 2025)
Term Loan Pricing: Term SOFR + 5.00%; 8.7% rate in effect, 9.2% effective rate
Adjusted Ebitda Q2: $55.7 million vs $16.7 million (Q2 2025)
Term Loan Maturity: April 1, 2031, interest-only, no scheduled amortization
Financial Covenant: minimum qualified cash of $50.0 million; in compliance as of June 30, 2026
Pharma Rn DRevenue Q2: $11.5 million, -38.0% YoY
Delayed Draw Facility: up to $300.0 million for permitted acquisitions through August 2027
Incremental Facility: up to $500.0 million uncommitted
Cumulative Cases Tested: over 1,130,000 as of June 30, 2026
Free Cash Flow Six Months: $28.9 million vs $(28.1) million (2025)
Clinical Cases Six Months: 112,000 vs 95,900 (2025)
Income From Operations Q2: $26.9 million vs $(18.0) million a year ago
Adjusted Ebitda Six Months: $81.9 million vs $(19.5) million (2025)
Loss On Debt Extinguishment: $25.2 million (Q2 2026 refinancing)
Operating Cash Flow Six Months: $61.4 million vs $(24.0) million (2025)
Share Repurchase Authorization: $100.0 million authorized June 7, 2026; 1,000,000 shares repurchased for $17.9 million; $82.1 million remaining

Price after filing

1 day: 0.0%7 days: +45.3%30 days: +57.3%

Close on the filing date to close N calendar days later (from $16.10). Historical, not a forecast.

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