Caris Life Sciences (CAI) investor relations material

Executive summary

• Achieved record Q2 2026 revenue of $263.7 million, up 45% year-over-year, with clinical case volume rising 18% to approximately 59,200 cases, driven by molecular profiling and commercial expansion.

• Launched new products including Caris Detect (multi-cancer early detection), ChromoSeq, and MI Clarity, expanding the continuum of care and portfolio in early detection and genomic profiling.

• Maintained positive Adjusted EBITDA for the fifth consecutive quarter, with net loss narrowing to $0.6 million, and strong free cash flow.

• Expanded sales force to over 300 by July 2026 and increased EHR/portal order penetration to 74%.

• Announced a $100 million share repurchase program, with $18–$21.4 million repurchased in Q2 and $82.1 million remaining authorized.

Financial highlights

• Total revenue reached $263.7 million, up 45% year-over-year; molecular profiling revenue grew 55% to $252.3 million.

• GAAP gross margin improved to 68% from 63% a year ago; gross profit was $179.6 million, up 58% year-over-year.

• Adjusted EBITDA was $55.7 million, up from $16.7 million last year; margin improved significantly.

• Free cash flow was $6.4 million for Q2 2026; net cash from operations was $28.5 million.

• Net loss narrowed to $0.6 million, including a $25 million one-time extinguishment charge for term loan refinancing.

Outlook and guidance

• Raised full-year 2026 revenue guidance to $1.03–$1.04 billion (27–28% growth), up from $1.00–$1.02 billion.

• Clinical therapy selection volume expected to grow ~20% year-over-year, with Q3 targeted to hit that milestone.

• GAAP operating expenses projected at $595–$600 million, reflecting continued commercial and marketing investments.

• Full-year Adjusted EBITDA and free cash flow expected to remain positive.

• Cash, cash equivalents, and marketable securities of $794.9 million as of June 30, 2026 are expected to fund operations for at least the next 12 months.