CAI

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record clinical volume of 59,200 cases, driven by the successful Q1 commercial realignment and expansion of the sales territory structure from 82 to 146. Performance attribution is centered on the 'comprehensive approach' where each case includes Whole Exome and Whole Transcriptome Sequencing, providing deeper biological insights than narrow panels. The platform is evolving from therapy selection into early detection and 'early interception' via the new Caris Detect and 'mutational cleanse' initiatives. Management attributes the 30% increase in clinical ASP to improved traction with payers and the unique value proposition of comprehensive molecular profiling. Strategic positioning focuses on building a deep molecular database (1.13 million patients) to train AI models like 'JAKE' for comparative clinical analysis. The company maintains a 'deeper, not cheaper' philosophy, prioritizing diagnostic accuracy and clinical evidence over immediate COGS reduction. Raised full-year revenue guidance to $1.03B-$1.04B based on molecular profiling strength, while excluding potential upside from the Caris Detect launch. Anticipates reaching a 20% volume growth milestone for therapy selection in Q3 as the expanded sales force (now over 300 members) reaches maturity. Guidance assumes full-year free cash flow positivity, with Q3 expected to be neutral due to significant inventory builds ahead of anticipated Detect demand. Planning for FDA submission of Caris Assure while pursuing a self-pay route for Caris Detect to bypass current reimbursement landscape limitations. Expects a pricing increase for clinical assays following the upcoming PAMA reporting cycle update in September. Management warned of potential back orders for Caris Detect as near-term demand may outpace the current tripling of lab capacity. A $25 million one-time extinguishment charge was recorded in Q2 related to the refinancing of a term loan in April. The company is actively evaluating additional sequencing suppliers to mitigate dependency on a single provider and improve long-term economics. Inventory increased by $47 million sequentially to ensure supply chain readiness for the national launch of multi-cancer early detection. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed the 6,400 sequential case addition was a record even when excluding the 1,000-case carryover from Q1. Confidence in the back half is driven by the sales team maturing in new territories and the continued 50% growth rate of the Caris Assure blood product. The process uses 10,000x depth sequencing (MAX assay) to identify immunogenic mutations that the immune system can actually see. The goal is to move beyond reporting a signal to creating personalized immune targets that can remove dangerous clones before overt disease emerges. The company will primarily use channel partners like Everlywell and concierge medicine rather than diverting the core oncology sales force. A national direct-to-consumer advertising campaign is scheduled to launch in a few months to drive awareness. Validation for the tumor-informed Whole Genome solution is underway with a launch planned for the second half of 2026. MolDX technical assessment for the tumor-naive approach requires approximately 6 more months of clinical outcome data maturity.

This article first appeared on GuruFocus. Total Revenue: $263.7 million, up 45% year-over-year. Molecular Profiling Revenue: $252.3 million, up 55% year-over-year. Pharma R&D Services Revenue: $11.4 million. Clinical Case Volume: Approximately 59,200 cases completed, up 18% year-over-year and 12% sequentially. Tissue Case Volume: Approximately 48,300 cases, up 13% year-over-year. Blood Case Volume (Caris Assure): Approximately 10,700 cases, up 50% year-over-year. GAAP Gross Margin: 68%, up from 63% in the prior year quarter. GAAP Net Loss: Narrowed to $0.6 million, including a $25 million one-time extinguishment charge. Adjusted EBITDA: $55.7 million, up from $16.7 million in the prior year quarter. Net Cash from Operations: $28.5 million. Free Cash Flow: $6.4 million, marking the fifth consecutive quarter of positive free cash flow. Capital Expenditures: $22.1 million in the quarter. Blended Base ASP: Surpassed $3,850, a new record. Covered Lives: Approximately 239.5 million for MiCancerSeek and 131.9 million for Caris Assure. Full-Year Revenue Guidance: Raised to $1.03 billion to $1.04 billion, representing 27% to 28% growth. Warning! GuruFocus has detected 2 Warning Sign with CAI. Is CAI fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record clinical volume in Q2 2026, with 59,200 cases completed, up 18% year-over-year and 12% sequentially, driven by the commercial expansion. Total revenue increased 45% year-over-year to $263.7 million, with molecular profiling services revenue up 55% to $252.3 million. GAAP gross margin expanded to 68%, up from 63% in the prior year, and the company achieved its fifth consecutive quarter of positive adjusted EBITDA ($55.7 million) and free cash flow ($6.4 million). Launched Caris Detect, a multi-cancer early detection test covering 58 cancer types, and received strong interest from channel partners like Everlywell, with demand potentially exceeding supply. The company raised its full-year 2026 revenue guidance to $1.03 billion-$1.04 billion (27%-28% growth), driven by strong molecular profiling performance and a record blended ASP of over $3,850. Expanded the Precision Oncology Alliance to 101 members, including UC San Francisco and Northwell Health, and grew covered lives for Caris Assure to 131.9 million. Advanced the pipeline with the launch of ChromaSeeq (heme therapy selection) and MI Clarity V2 (breast cancer recurrence risk), and is on track to launch an MRD assay in the second half of 2026. Pharma R&D Services revenue was lower than expected at $11.4 million, reflecting timing of deliverables and a strategic shift away from smaller one-time deals. The company faces potential capacity constraints for Caris Detect, with management acknowledging possible back orders as demand may outpace the rollout and lab capacity expansion. GAAP net loss was $0.6 million, which included a $25 million one-time extinguishment charge from refinancing its term loan in April. Operating expenses increased by $21 million year-over-year to $152.7 million, driven by investments in commercial expansion and product pipeline, including Caris Detect. The company expects a sequential decline in EBITDA in Q3 2026 (projected $10 million-$16 million) due to continued investments, with free cash flow expected to be neutral by the end of Q3. Caris Detect is currently self-pay only, with no near-term plans for CMS reimbursement, and the company is still awaiting New York State approval for its liquid biopsy, which could limit market access. The MRD assay launch is pending validation and clinical outcome data maturity, which may take at least another 6 months, delaying potential revenue contribution. Q: Can you provide more detail on the drivers behind the record sequential volume growth in Q2, and whether the volume lost during the Q1 sales force realignment was recaptured? A: Luke Power (CFO): The reacceleration, particularly in tissue, was driven by the maturation of the sales team following the Q1 realignment. Even excluding the 1,000 cases mentioned in Q1, Q2 was still a record for sequential case additions. The team has expanded to over 290 members, surpassing 300 in July, and the KPIs give us confidence in continued growth through the second half of the year. Q: What is driving the increase in full-year revenue guidance, and are any contributions from new product launches like Caris Detect included in the updated outlook? A: Luke Power (CFO): The guidance raise is driven purely by the strength of the existing molecular profiling business. We are not assuming any revenue contribution from Caris Detect or other new launches in the guidance. We want to see a couple of quarters of history before including new products. Additionally, the guidance raise does not assume any prior-period reimbursement true-ups in the second half. Q: Can you elaborate on the "Mutational Cleanse" strategy and how it transitions Caris from early detection to early interception? A: David Spetzler (President): The strategy involves four steps: 1) Caris Detect flags disease early; 2) Caris Max interrogates the signal at 10,000x depth to identify somatic mutations; 3) AI scores mutations for immunogenicity, achieving 83.8% positive predictive value and 86.5% sensitivity; 4) Top neoepitopes become personalized immune targets monitored over time. This creates a closed loop to identify dangerous clones early and remove them before clinical disease emerges. Q: What is the expected cadence for clinical volume growth in the back half of 2026, and what gives you confidence in hitting the 20% therapy selection volume target? A: Luke Power (CFO): We expect to hit the 20% therapy selection volume milestone in Q3 and continue improving into Q4. The confidence comes from the momentum built in Q2, the continued maturation of the sales force, and the fact that we are not incorporating the newest sales hires into our projections. We expect the tissue/blood mix to remain consistent at roughly 80/20. Q: How should we think about the gross margin trajectory given the ramp of new products like Detect and the potential for new sequencing suppliers? A: Luke Power (CFO): We expect gross margins to remain in the high-60s for the second half. Our philosophy is "deeper, not cheaper," meaning we prioritize assay performance over margin expansion. However, we are evaluating new sequencing suppliers that offer higher throughput and lower costs, which could significantly reduce COGS in future years. For Detect, COGS will be consistent with existing liquid biopsy products initially, with margins improving as volume ramps. Q: What is the status of the MRD program, and what is the timeline for launch and MolDX data submission? A: David Spetzler (President): We will finish validation and launch MRD in the back half of this year. For the tumor-naive assay, we are waiting for clinical outcome data to mature, which depends on relapse rates in the patient population. We estimate at least another 6 months of clinical maturity is needed before submitting data to MolDX, though it could take longer. Q: Can you provide an update on the Caris Detect launch, including capacity constraints and the direct-to-consumer strategy? A: Luke Power (CFO) & David Spetzler (President): Demand has run ahead of expectations, and we are investing ahead of the ramp, increasing inventory by $47 million in Q2. Current capacity supports about $1 billion in annual revenue, and we are tripling that to $3 billion. We will launch an aggressive DTC advertising campaign nationally in a couple of months. We are primarily using channel partners like Everlywell rather than dedicating our own sales force to Detect. Q: What is the reimbursement strategy for MI Clarity V2, and how are you approaching payer conversations? A: Luke Power (CFO): We are having conversations about which LCD the test could fall under, but we are also going directly to third-party payers like UnitedHealthcare. The test is a cheaper alternative to existing sequencing tests, which strengthens our case. For Medicare, reimbursement will likely depend on a potentially updated LCD. Q: Can you provide color on the pharma R&D services revenue, which came in lighter than expected, and the outlook for the full year? A: Luke Power (CFO): The full-year guidance of $75-80 million still holds. We are deliberately passing on smaller one-time deals to focus on longer-term strategic partnerships. Revenue more than doubled from Q1 to Q2, and we expect improvement from Q2 to Q3, with Q4 being the heaviest-weighted quarter. The sales cycle is longer than we'd like, but the pipeline is robust. Q: How should we think about the sales force expansion beyond the 300-person milestone, and how are resources being allocated across the growing product portfolio? A: Luke Power (CFO): We are not stopping at 300; we will continue to grow the team based on return on investment and financial position. Territory expansion will continue as we add customers. The sales team has performed well since the Q1 realignment, and we are in a strong position to invest behind them. Resources are being allocated to support the full continuum of care, including MI Profile, Caris Assure, and new launches like ChromaSeeq and Detect. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Revenue growth of 45% driven by strong performance in molecular profiling services, including approximately 59,200 clinical cases, consisting of over 114,000 whole exome/whole transcriptome tests with over 345,000 total oncology tests Raises 2026 revenue guidance to $1.03 to $1.04 billion, representing growth of 27% to 28% IRVING, Texas, Aug. 5, 2026 /PRNewswire/ -- Caris Life Sciences, Inc. (Nasdaq: CAI), a leading TechBio company actively developing and commercializing solutions to transform healthcare, today reported financial results for the quarter ended June 30, 2026. Second Quarter 2026 Financial Highlights Reported total revenue of $263.7 million, an increase of 45% over the corresponding prior year period. Completed approximately 59,200 clinical cases, an increase of approximately 18% over the corresponding prior year period, including approximately 48,300 MI Profile cases and approximately 10,700 Caris Assure cases. Reported gross margin of 68%, an approximate 500 bps improvement over the corresponding prior year period. Reported net loss of $0.6 million. Reported positive Adjusted EBITDA of $55.7 million. Reported positive net cash provided by operating activities of $28.5 million, and positive free cash flow of $6.4 million. "This was a record quarter, with approximately 59,200 clinical cases, up more than 12% sequentially, reflecting sustained demand and the payoff from investments in our commercial engine," said David Dean Halbert, Founder, Chairman and CEO of Caris Life Sciences. "Our comprehensive approach gives every case real molecular depth, across more than 1.13 million patients with AI trained on it, that depth is what powers Caris Detect. And Detect doesn't stop at finding cancer early, through what we call the Mutational Cleanse, we plan to turn an early signal into personalized immune targets, moving from early detection to early interception. It all comes back to one thing: making precision medicine a reality for every patient." Recent Operating Highlights Launched Caris Detect, a groundbreaking multi-cancer early detection blood test designed to uncover cancer signals at earlier, more treatable stages. Launched and received MolDX approval for Caris ChromoSeq, Caris' comprehensive whole genome tumor profiling assay for myeloid malignancies. Launched Caris MI Clarity next-generation prognostic tool that leverages multimodal AI technology and computational pathology to deliver rapid, clinically actionable results for HR+/HER2−, postmenopausal, node-negative early-stage breast cancer patients. Announced a share repurchase program of up to $100 million, of which approximately $82.1 million remains available for repurchase under the existing Board authorization. Published a study on the Caris Lookback Program demonstrating the ongoing clinical value of comprehensive testing with Caris MI Cancer Seek. Published a study showing that whole exome measurement of tumor mutational burden (TMB) results in increased overall survival compared to estimates derived from targeted gene panels. Launched the Behind the Diagnosis campaign, spotlighting patient lives transformed by Caris' comprehensive genomic testing. Announced a dual listing on NYSE Texas. Surpassed 1,130,000 total profiles and 845,000 total matched profiles through June 30, 2026. More than 783,000 whole transcriptome and 733,000 whole exome profiles through June 30, 2026. Second Quarter 2026 Financial Results Total revenue was $263.7 million for the three months ended June 30, 2026, compared to $181.4 million for the three months ended June 30, 2025, an increase of $82.3 million, or 45%. The increase in total revenue was driven primarily by a 55% growth in molecular profiling services revenue, which was $252.3 million for the three months ended June 30, 2026, compared to $162.9 million for the three months ended June 30, 2025. The increase in molecular profiling services revenue was primarily driven by an increase in total clinical case volume and ASP improvements. Gross profit, calculated as total revenue less cost of services, for the three months ended June 30, 2026 and 2025, was $179.6 million and $113.7 million, respectively, representing a gross margin of 68% and 63%, respectively. Operating expenses were $152.7 million for the three months ended June 30, 2026, compared to $131.7 million for the three months ended June 30, 2025, an increase of $21.0 million, or 16%. The increase was primarily driven by headcount-related costs. Net loss was $0.6 million for the three months ended June 30, 2026, as compared to a net loss of $71.8 million for the three months ended June 30, 2025. Net loss per share attributable to common shareholders, basic and diluted, was $0.00 for the three months ended June 30, 2026, as compared to a net loss per share attributable to common shareholders, basic and diluted, of $7.97 for the three months ended June 30, 2025. Net cash provided by operating activities was $28.5 million for the three months ended June 30, 2026, as compared to net cash provided by operating activities of $7.3 million for the three months ended June 30, 2025, a 291% improvement. The improvement was driven by improved total clinical case volume and ASP improvements. 2026 Financial Outlook and Guidance Caris Life Sciences now expects full year 2026 revenue to be in the range of $1.03 billion to $1.04 billion, representing growth of 27% to 28% compared to full year 2025 and reaffirms its guidance to clinical therapy selection volume growth of approximately 20% compared to full year 2025. Conference Call Information Event: Caris Second Quarter 2026 Financial Results Conference CallDate: Wednesday, August 5, 2026Time: 3:30 p.m. CT (4:30 p.m. ET)Webcast Link: https://edge.media-server.com/mmc/p/ff8xb4qs Accompanying materials will be posted on our investor relations website at https://investor.carislifesciences.com prior to the conference call. A replay of the conference call will be available on our investor relations website shortly after the conclusion of the call. About Caris Life Sciences Caris Life Sciences® (Caris) is a leading TechBio company actively developing and commercializing innovative solutions to transform healthcare. Through comprehensive molecular profiling (Whole Genome, Whole Exome and Whole Transcriptome Sequencing), advanced AI and machine learning, Caris has created the large-scale, multimodal clinico-genomic database and computing capability needed to analyze and further unravel the molecular complexity of disease. This convergence of next-generation sequencing, AI and machine learning technologies and high-performance computing provides a differentiated platform for developing the latest generation of advanced precision medicine diagnostic solutions for early detection, diagnosis, monitoring, therapy selection and drug development. Caris was founded with a vision to realize the potential of precision medicine to improve the human condition. Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S. and other international markets. We intend to use the investor page of our website, https://investor.carislifesciences.com, as a distribution channel of material information about the Company and for complying with our disclosure obligations under Regulation FD. The information we post on our investor webpage may be deemed material. Accordingly, investors should subscribe to our investor alerts, in addition to following our press releases, SEC filings, public conference calls and webcasts. Forward-Looking Statements This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding our business, solutions, plans, objectives, goals, industry trends, financial outlook and guidance. In some cases forward-looking statements can be identified by words such as "may," "will," "should," "would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "potential," "contemplate," "believe," "estimate," "predict," or "continue" or similar expressions. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in these forward-looking statements are reasonable based on information currently available to us, we cannot guarantee that the future results, discoveries, levels of activity, performance or events and circumstances reflected in forward-looking statements will be achieved or occur. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond our control. Risks and uncertainties that could cause our actual results to differ materially from those indicated or implied by the forward-looking statements in this press release include, among other things: continued development, performance and commercialization of Caris Detect; developments in the precision medicine industry; our future financial performance, results of operations or other operational results or metrics; development, analytical and clinical validation, timing and performance of future solutions by us and our competitors; commercial market acceptance for our solutions, including acceptance of preventive as well as diagnostic testing paradigms, and our ability to meet resulting demand; the rapidly evolving competitive environment in which we operate; third-party payer reimbursement and coverage decisions related to our solutions; the impact on our future volumes of the continued execution of our strategy to re-align and expand our sales organization; risks related to data management, storage, and processing capabilities and our ability to integrate and deploy artificial intelligence and advanced data analytics technologies; our ability to protect and enhance our intellectual property; regulatory requirements, decisions or approvals (including the timing and conditions thereof) related to our solutions; reliance on third-party suppliers; risks related to data security, patient privacy, and compliance with healthcare data protection regulations as well as potential cybersecurity threats to our data platforms; our compliance with laws and regulations; the outcome of government investigations and litigation; risks related to our indebtedness; and our ability to hire and retain key personnel as well as risks, uncertainties, and other factors described in the section titled "Risk Factors" and elsewhere in our Annual Report on Form 10-K filed on March 3, 2026, and in our other filings we make with the SEC from time to time. We undertake no obligation to update any forward-looking statements to reflect changes in events, circumstances or our beliefs after the date of this press release, except as required by law. Non-GAAP Measures We use Adjusted EBITDA and free cash flow, financial measures not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"), to supplement our condensed consolidated financial statements, which are presented in accordance with GAAP. We believe the non-GAAP financial measures we use, are useful in evaluating our performance and liquidity. Our non-GAAP financial measures have limitations as analytical tools, however, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. Other companies, including other companies in our industry, may not use these measures or may calculate these measures differently than as presented herein, limiting their usefulness as comparative measures. We define Adjusted EBITDA as net loss, adjusted to exclude interest income, interest expense, changes in fair value of financial instruments, other expense, net, the provision for (benefit from) income taxes, depreciation and amortization, and stock-based compensation expense. We use Adjusted EBITDA in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. We believe Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors. Adjusted EBITDA provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash expenses and certain variable charges. We define free cash flow as net cash provided by (used in) operating activities less capitalized software and purchases of property and equipment. Our method of calculating free cash flow is unchanged from prior periods; the caption has been updated to identify capitalized software as a component of our investing capital expenditures. We believe free cash flow is a useful measure of liquidity that provides an additional basis for assessing our ability to generate cash. A reconciliation of the non-GAAP financial measures used in this press release to the respective comparable GAAP financial measures, can be found below. Caris Life Sciences Media:Corporate [email protected] Investor Relations:[email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/caris-life-sciences-reports-second-quarter-2026-financial-results-and-increases-2026-revenue-guidance-302843876.html

Caris Life Sciences,?Inc. (CAI) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to a loss of $0.54 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced break-even earnings, delivering a surprise of +100%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Caris Life Sciences,?Inc., which belongs to the Zacks Medical Services industry, posted revenues of $263.71 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 14.07%. This compares to year-ago revenues of $181.4 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Caris Life Sciences,?Inc. shares have lost about 40.3% since the beginning of the year versus the S&P 500's gain of 13%. While Caris Life Sciences,?Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Caris Life Sciences,?Inc. was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.02 on $262.78 million in revenues for the coming quarter and $0.06 on $988.78 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Services is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, CryoPort, Inc. (CYRX), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This company is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +31%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. CryoPort, Inc.'s revenues are expected to be $48.08 million, up 5.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Caris Life Sciences,?Inc. (CAI) : Free Stock Analysis Report CryoPort, Inc. (CYRX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Caris Life Sciences, Inc.? Here are five stocks we like better. Caris reported strong second-quarter growth: Revenue rose 45% year over year to $263.7 million, while clinical cases increased 18% to approximately 59,200. Adjusted EBITDA improved to $55.7 million from $16.7 million, and free cash flow was positive at $6.4 million. Commercial expansion is driving demand: The sales organization grew to more than 300 employees, supporting record tissue and blood-testing volumes. Caris also authorized a $100 million share-repurchase program and bought back about $18 million of shares during the quarter. Full-year guidance was raised: Caris now expects 2025 revenue of $1.03 billion to $1.04 billion, up from its prior range of $1 billion to $1.02 billion, while maintaining expectations for positive adjusted EBITDA and free cash flow. The outlook excludes revenue from newly launched products such as the Caris Detect early-cancer-detection test. Caris Life Sciences (NASDAQ:CAI) reported record clinical volume and raised its full-year revenue outlook after second-quarter revenue increased 45% from a year earlier, driven by growth in molecular profiling services, higher average selling prices and an expanding commercial organization. The company completed approximately 59,200 clinical cases during the quarter ended June 30, up 18% year over year and 12% sequentially. Founder, Chairman and Chief Executive Officer David Dean Halbert said the increase included record tissue and blood testing volumes, with roughly 6,400 sequential case additions. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “This was a record quarter, with record clinical volume, including record tissue and record blood volume,” Halbert said, adding that investments in the company’s commercial organization began producing results during the period. Total revenue reached $263.7 million, up 45% year over year. Molecular profiling services revenue increased 55% to $252.3 million, while pharma research and development services revenue was $11.4 million. → 3 Drone Stocks That Should Soar After the Summer Slump Chief Financial Officer Luke Power said clinical volume growth and pricing both contributed to the performance. The company reported an 18% rise in volume and a 30% increase in clinical average selling price. Its blended base average selling price surpassed $3,850, a company record, according to Power. GAAP gross margin increased to 68%, from 63% in the prior-year quarter. GAAP operating expenses were $152.7 million, up about $21 million year over year as the company invested in commercial expansion and product development. GAAP net loss narrowed to $0.6 million, including a $25 million one-time debt-extinguishment charge related to the April refinancing of its term loan. Adjusted EBITDA was $55.7 million, compared with $16.7 million a year earlier. Free cash flow was $6.4 million despite $22.1 million of capital expenditures. Vice Chairman and Executive Vice President Brian Brille said the quarter marked Caris’ fifth consecutive period of positive adjusted EBITDA and positive free cash flow. Cash and investments totaled $793 million at quarter-end. The board also authorized a share-repurchase program of up to $100 million, and the company repurchased approximately $18 million of shares in the open market during the second quarter. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure Caris said tissue-based MI Profile cases totaled approximately 48,300, rising 13% from a year earlier and 11% sequentially. Caris Assure Blood cases totaled about 10,700, up 50% year over year and 17% sequentially. The company completed a sales-force realignment in January, increasing its territory structure to 146 territories from 82. Its commercial team exceeded 290 members at the end of the second quarter, compared with 270 at the end of the first quarter, and Power said headcount surpassed 300 in July. More than 6,200 oncologists now order through the company, Brille said, while more than 74% of orders come through electronic health record and portal channels. Caris also reported that the Precision Oncology Alliance expanded to 101 members with the additions of UC San Francisco and Northwell Health. Management said it expects the tissue-and-blood mix to remain broadly consistent with the second quarter in the back half of the year. Power said the company expects clinical therapy-selection volume growth of about 20% in the third quarter, with further improvement anticipated afterward. During the quarter, Caris launched ChromoSeq, a hematology therapy-selection assay using whole-genome and whole-transcriptome technology. The assay received MolDX coverage at a reimbursement rate of $3,228, management said. The company also launched Caris Detect, its multi-cancer early-detection blood test, in June. President David Spetzler said the test identifies 58 cancer types from a single blood draw and provides a prioritized tissue-of-origin workup for physicians. The company plans to pursue a self-pay approach for the test and is not including Detect revenue in its updated guidance, Power said. Management said it is increasing laboratory capacity and inventory ahead of expected demand. Inventory increased $47 million from the first quarter to the second quarter, according to Power. Halbert said current capacity is equivalent to about $1 billion in annual revenue and the company is preparing to triple that capacity, while management cautioned that demand could still lead to back orders. Caris also plans to launch minimal residual disease, or MRD, offerings in the second half of 2026 following completion of validation. Spetzler described both a tumor-naive assay initially focused on colorectal cancer and a tumor-informed whole-genome approach intended for pan-tumor use in stages 1 through 3. In addition, the company expects to introduce myClarity version 2 in the second half. The updated breast-cancer recurrence-risk platform is intended to add chemotherapy and endocrine-therapy decision support, according to Spetzler. Based on first-half results and continued molecular profiling momentum, Caris raised its full-year revenue forecast to $1.03 billion to $1.04 billion, representing 27% to 28% growth. The prior outlook was $1 billion to $1.02 billion. The company increased its expected GAAP operating-expense range to $595 million to $600 million from $590 million to $595 million, reflecting commercial expansion and increased marketing around product launches. Caris reiterated expectations for positive adjusted EBITDA and positive free cash flow for the full year. Power said the updated revenue forecast is based on the existing molecular profiling business rather than expected contributions from Caris Detect or other newly launched products. He also said the company expects third-quarter blended clinical average selling price to be in the $3,800 to $3,900 range. Caris Life Sciences (NASDAQ: CAI) is a molecular science company focused on advancing precision medicine in oncology. The company develops and delivers comprehensive molecular profiling services designed to identify actionable biomarkers across DNA, RNA and protein modalities. Its clinical services are intended to support oncologists in treatment decision-making by matching patients to targeted therapies, immunotherapies and relevant clinical trials based on tumor biology. Caris provides laboratory-based diagnostic testing and related interpretive reports, combining high-throughput sequencing and other molecular technologies with bioinformatic analysis. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Caris Life Sciences Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

CareDx (CDNA) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +68.18%. A quarter ago, it was expected that this molecular diagnostics company would post earnings of $0.11 per share when it actually produced earnings of $0.34, delivering a surprise of +209.09%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. CareDx, which belongs to the Zacks Medical Services industry, posted revenues of $131.95 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 15.41%. This compares to year-ago revenues of $86.68 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. CareDx shares have added about 88% since the beginning of the year versus the S&P 500's gain of 6.9%. While CareDx has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for CareDx was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.17 on $111.3 million in revenues for the coming quarter and $0.88 on $455 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Services is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Caris Life Sciences,?Inc. (CAI), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +98.2%. The consensus EPS estimate for the quarter has been revised 33.3% lower over the last 30 days to the current level. Caris Life Sciences,?Inc.'s revenues are expected to be $231.2 million, up 27.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CareDx, Inc. (CDNA) : Free Stock Analysis Report Caris Life Sciences,?Inc. (CAI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Caris Life Sciences (CAI) recently announced plans to report second quarter 2026 results on August 5. This will give investors a fresh look at its finances shortly after launching in-house PTEN IHC testing. See our latest analysis for Caris Life Sciences. Despite the new PTEN IHC offering and the upcoming earnings release, momentum in Caris Life Sciences' stock has been weak, with the share price falling 22.1% over three months and the 1-year total shareholder return declining 47.3%. This suggests investors are still reassessing both growth prospects and risks. If you want to see how other cancer and diagnostics focused companies are priced, now could be a good time to scan 39 healthcare AI stocks. Caris Life Sciences is building a broad precision oncology platform. However, the stock’s recent slide and current discount to analyst targets raise a different issue: is this business strength already reflected in the price or not? Caris Life Sciences' most followed valuation narrative points to a fair value of about $36.00 versus the last close at $16.48, which frames a wide gap that investors are trying to understand. Read the complete narrative. Want to see what sits behind that growth runway? The narrative leans on ambitious revenue expansion, a sharp swing in margins and a premium earnings multiple. Curious which assumptions really carry the fair value story? Result: Fair Value of $35.998 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, the Caris Life Sciences story also hinges on reimbursement momentum and broader adoption of comprehensive genomic profiling; any setback there could quickly test this optimistic narrative. Find out about the key risks to this Caris Life Sciences narrative. If this Caris Life Sciences narrative sounds upbeat overall, move quickly to pressure test it against the underlying data and form your own view using the 3 key rewards. Do not stop with Caris Life Sciences. Widen your watchlist now using focused stock ideas that can help you spot opportunities other investors might overlook. Target potential mispricings by scanning companies that currently look out of favor on fundamentals with the 49 high quality undervalued stocks. Strengthen your defensive side by reviewing companies highlighted in the 81 resilient stocks with low risk scores, where resilience takes center stage. Get ahead of the crowd by searching for quality stocks flying under the radar using the screener containing 20 high quality undiscovered gems. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include CAI. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Targeted gene panels miscalculate tumor mutational burden in 10–15% of patients, directly resulting in incorrect pembrolizumab eligibility determination IRVING, Texas, May 11, 2026 /PRNewswire/ -- Caris Life Sciences® (NASDAQ: CAI), a leading, patient-centric, next-generation AI TechBio company and precision medicine pioneer, has published a study in Cancer Immunology, Immunotherapy demonstrating that measuring tumor mutational burden (TMB) using ultra-deep Whole Exome Sequencing (WES) provides superior prediction of pembrolizumab immunotherapy benefit compared to estimates of TMB from targeted gene panels. TMB is a pan-tumor biomarker used to determine patients' eligibility for pembrolizumab. These findings highlight the importance of testing all cancer patients with ultra-deep WES, the only truly comprehensive genomic profile for therapy selection. The study used Caris' large-scale, real-world clinico-genomic database, containing 26,756 patients treated with pembrolizumab who were evaluable for this study. WES provides a true measurement of TMB by interrogating every protein-coding gene mutation that may create a neoantigen, in comparison to targeted panels that only estimate TMB with incomplete gene coverage. Key findings include: The analysis compared WES-measured TMB with commercially available targeted panel estimates of TMB and found discordance in 10-15% of cases, with error rates correlating to panel size. In discordant cases, WES TMB more accurately predicted overall survival in pembrolizumab-treated patients than panel-based estimates. In a subset of 'TMB reliant' patients (n = 3,981), for example, patients with tumor types that lack disease-specific immune checkpoint inhibitor indications, the median overall survival in discordant cases was about five months longer for WES TMB-High and panel TMB-Low compared to WES TMB-Low and panel TMB-High cases treated with pembrolizumab. "These findings underscore the critical importance of using Whole Exome Sequencing to guide immunotherapy decisions," said Milan Radovich, PhD, Senior Vice President, Chief Scientific Officer at Caris. "Whole Exome Sequencing is the gold-standard for determination of tumor mutational burden, ensuring that patients who stand to benefit from pembrolizumab are correctly identified and that those unlikely to respond are not exposed to unnecessary treatment." The study concludes that WES-based TMB measurements are a superior predictor of pembrolizumab benefit than panel-based TMB estimates and more reliably identify both patients who may benefit from therapy and those unlikely to respond, particularly in tumor types where TMB is the primary biomarker guiding access to immune checkpoint inhibitors. Caris received FDA approval in November 2024 for MI Cancer Seek. This tissue-based assay is the first and only simultaneous WES and Whole Transcriptome Sequencing (WTS)-based assay with FDA-approved companion diagnostic (CDx) indications for molecular profiling of solid tumors and includes quantitative reporting of TMB. About Caris Life Sciences Caris Life Sciences® (Caris) is a leading, patient-centric, next-generation AI TechBio company and precision medicine pioneer actively developing and commercializing innovative solutions to transform healthcare. Through comprehensive molecular profiling (Whole Genome, Whole Exome and Whole Transcriptome Sequencing), advanced AI and machine learning, Caris has created the large-scale, multimodal clinico-genomic database and computing capability needed to analyze and further unravel the molecular complexity of disease. This convergence of next-generation sequencing, AI and machine learning technologies and high-performance computing provides a differentiated platform for developing the latest generation of advanced precision medicine diagnostic solutions for early detection, diagnosis, monitoring, therapy selection and drug development. Caris was founded with a vision to realize the potential of precision medicine to improve the human condition. Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S. and other international markets. Forward Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding our business, solutions, plans, objectives, goals, industry trends, financial outlook and guidance. In some cases forward-looking statements can be identified by words such as "may," "will," "should," "would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or similar expressions. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in these forward-looking statements are reasonable based on information currently available to us, we cannot guarantee that the future results, discoveries, levels of activity, performance or events and circumstances reflected in forward-looking statements will be achieved or occur. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond our control. Risks and uncertainties that could cause our actual results to differ materially from those indicated or implied by the forward-looking statements in this press release include, among other things: developments in the precision medicine industry; our future financial performance, results of operations or other operational results or metrics; development, analytical and clinical validation, timing and performance of future solutions by us and our competitors; commercial market acceptance for our solutions, including acceptance of preventive as well as diagnostic testing paradigms, and our ability to meet resulting demand; the rapidly evolving competitive environment in which we operate; third-party payer reimbursement and coverage decisions related to our solutions; risks related to data management, storage, and processing capabilities and our ability to integrate and deploy artificial intelligence and advanced data analytics technologies; our ability to protect and enhance our intellectual property; regulatory requirements, decisions or approvals (including the timing and conditions thereof) related to our solutions; reliance on third-party suppliers; risks related to data security, patient privacy, and compliance with healthcare data protection regulations as well as potential cybersecurity threats to our data platforms; our compliance with laws and regulations; the outcome of government investigations and litigation; risks related to our indebtedness; and our ability to hire and retain key personnel as well as risks, uncertainties, and other factors described in the section titled "Risk Factors" and elsewhere in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 3, 2026, and in our other filings we make with the SEC from time to time. We undertake no obligation to update any forward-looking statements to reflect changes in events, circumstances or our beliefs after the date of this press release, except as required by law. Caris Life Sciences Media: Corporate Communications [email protected] 214.294.5606 View original content to download multimedia:https://www.prnewswire.com/news-releases/caris-life-sciences-publishes-study-showing-whole-exome-measurement-of-tumor-mutational-burden-results-in-increased-overall-survival-compared-to-estimates-from-targeted-gene-panels-302768392.html

Interested in Caris Life Sciences, Inc.? Here are five stocks we like better. Financial outperformance: Total revenue rose 79% year‑over‑year to $216 million (molecular profiling up 85% to $211M) driven by 15% volume growth and a 61% clinical ASP increase, with GAAP gross margin up to 65%, $26M adjusted EBITDA, ~ $22M free cash flow, and cash slightly above $825M. Caris Detect ACHIEVE‑1 readout and launch plans: The ACHIEVE‑1 study reported 60.3% sensitivity for stage 1–2 cancers with 99.2% asymptomatic specificity in 3,014 high‑risk subjects; the company is running a beta and expects a commercial launch with Everlywell in Q2. Commercial execution and strategic moves: Sales force realignment expanded territories from 82 to 146 and boosted activations, supporting guidance of >58,000 cases in Q2, while new product launches (ChromoSeq, MI Clarity), MRD development priority, and a $400M refinancing (≈$6M annual interest savings) provide strategic flexibility. Caris Life Sciences (NASDAQ:CAI) reported first-quarter 2026 results highlighted by sharp year-over-year revenue growth, improving margins, and continued progress across its pipeline, including a key clinical accuracy readout for its multi-cancer early detection (MCED) test, Caris Detect. Vice Chairman and EVP Brian Brilly said the company posted “continued growth, profitability, and cash generation,” which management said supports ongoing investments in MCED, the broader pipeline, and commercial expansion. → Berkshire Hathaway’s Record Cash Hoard: Why and What's Next? Total revenue rose 79% year-over-year to $216 million. Molecular Profiling Services revenue increased 85% to $211 million, which Brilly attributed primarily to clinical profiling performance. The company completed 52,800 cases in the quarter, up 15% year-over-year. Brilly said revenue growth reflected both higher volume and higher pricing: 15% volume growth and a 61% increase in clinical average selling price (ASP). He added that GAAP gross margin improved to 65% from 47% a year earlier. The quarter produced adjusted EBITDA of $26 million and free cash flow of $22.5 million, marking the fourth consecutive quarter of positive adjusted EBITDA and free cash flow, according to management. → A Prada Payday: Is AMC Back in Style? CFO Luke Power said the company’s strong revenue performance continued to translate into profitability despite increased investment. Operating expenses were $136 million, up from $132 million in Q4, and capital expenditures were just over $10 million, up from $5.1 million in Q4. Power noted free cash flow of $23 million for the quarter included annual bonus payments of $30.5 million. Caris ended the quarter with cash slightly above $825 million, up $23.4 million during the quarter, Brilly said. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% Chief Commercial Officer Bobby Hill said molecular profiling revenue growth was driven by both volume and ASP. He reported tissue ASP increased 70% to more than $4,300, while blood ASP increased 14% to just under $2,500. Hill tied the performance to market access and billing execution and said the company continued to see benefits from the launch of MI Cancer Seek last year. Hill also detailed sales execution changes made early in 2026, including a sales force realignment in January. Caris expanded its territory structure from 82 to 146 territories to “improve coverage, sharpen accountability, and create a stronger footprint for execution,” he said. Hill described January as a “transition month,” but said activations in February and March grew about 20% year-over-year versus the same period last year, with full-quarter activations up 17%. Based on February and March completion cadence, Hill said results supported “a quarterly exit run rate of roughly 56,000 completed cases.” For Q1, completed volumes included approximately 43,600 tissue cases and about 9,200 Caris Assure cases. Caris Assure volume grew 58% year-over-year, Hill said. Management emphasized increasing electronic ordering and workflow integration. Brilly said the company supports more than 6,100 ordering oncologists, with approximately 70% of orders coming through electronic health record (EHR) and portal channels. Hill said more than 70% of orders were submitted electronically and more than 3,000 physicians are using EMR integrations. Caris ended the quarter with more than 270 commercial team members and is “building toward” an approximately 300-person goal, Hill said. During Q&A, management said the sales realignment contributed to a slower start, but they cited improved monthly trends exiting the quarter as support for full-year expectations. Responding to a question about whether weather affected volumes, management said it did not, and reiterated that cases were coming in and would convert to completed cases in Q2. President David Spetzler highlighted what he called an “important milestone” for the quarter: the final readout from the ACHIEVE-1 clinical accuracy study for Caris Detect. He said Caris Detect delivered 60.3% stage 1 and stage 2 sensitivity with 99.2% asymptomatic specificity in a 3,014-subject high-risk cohort. Spetzler provided additional breakdowns, including stage-specific sensitivity of 56.8% in stage 1, 67.7% in stage 2, 79% in stage 3, and 98.6% in stage 4. He also said Caris reported 96% specificity in “benign tumor and high-risk patient” populations alongside the asymptomatic specificity result, explaining that Caris separated non-cancer patients into groups because false positives can have different implications. Spetzler also cited early-stage sensitivity by cancer type in the stage 1 and 2 dataset, including 53.7% in breast, 74.1% in prostate, 73.4% in lung, 60.6% in uterus, 61.8% in bowel, 81.3% in head and neck, and 70% in pancreatic cancer. He said the results were generated using “only 1 of 9 potential pillars,” and suggested performance could improve as additional pillars are incorporated. Spetzler said the company had been conducting a beta launch “the last few weeks” and continued to anticipate a commercial launch with Everlywell. Power later said the company planned to launch Caris Detect in Q2 and would assess contribution in the second half of the year. Management highlighted two recent product launches. Brilly said Caris launched Caris ChromoSeq on April 1 as a therapy selection assay for hematological cancers using whole genome technology. Spetzler added ChromoSeq launched with MolDX coverage and is designed for AML, MDS, MPN, and suspected myeloid malignancies. He described the assay as providing greater than 200X coverage across the whole genome, with approximately 1.6 billion reads per patient, to detect a broad range of clinically relevant genomic alterations. The company also launched Caris MI Clarity, which Brilly described as a prognostic breast cancer test using digital pathology to provide insight into early and late distant recurrence risk. Spetzler said the “digital AI-only version” is designed for post-menopausal patients with HR-positive, HER2-negative, node-negative early-stage breast cancer at diagnosis, and is intended to support decision-making and reduce unnecessary therapy. Caris also discussed minimal residual disease (MRD) efforts. Spetzler said MRD tumor-naive development remains focused on colorectal cancer and uses the Caris Assure platform, with additional data being compiled for a MolDX technical assessment. He said MRD tumor-informed development and launch planning had also progressed for a pan-tumor opportunity in stage 1-3 disease, using tumor-normal whole genome sequencing and a proprietary tracker approach designed to improve sensitivity. In Q&A, management said MRD is the “next priority” now that other product launches are “done and behind” the company. Power said Caris reaffirmed its guidance from February, citing confidence in full-year volume expectations based on February and March trends. He said the company continued to expect tissue growth in the low teens and blood growth in the high 50s to low 60s. For Q2, he said Caris expects over 58,000 cases, representing 10% sequential volume growth from Q1, and provided a rough split expectation of about 47,500 tissue cases and “approaching over” 10,000 blood cases. Power also addressed reimbursement topics raised by investors, emphasizing that both MI Cancer Seek and Caris Assure are CDLTs and not ADLTs, and therefore are reported under PAMA. He said the 2026 PAMA reporting window runs from May 1 through July 31 based on data from Jan. 1 through June 30, 2025, with any related fee schedule updates effective Jan. 1, 2027. Power said the company submitted its PAMA data May 1 and “do[es] not expect any downward adjustments from that.” Brilly also said Caris refinanced its credit facility with a new $400 million debt facility led by Blue Owl and Blackstone, citing lower costs (approximately $6 million in annual interest savings), a maturity extension to April 2031, and a $300 million delayed draw term loan for potential strategic acquisition flexibility. In response to a question on capital allocation, Brilly said the company did not see gaps requiring acquisitions but described Caris as “flexible and tactical” given its financial profile. Caris Life Sciences (NASDAQ: CAI) is a molecular science company focused on advancing precision medicine in oncology. The company develops and delivers comprehensive molecular profiling services designed to identify actionable biomarkers across DNA, RNA and protein modalities. Its clinical services are intended to support oncologists in treatment decision-making by matching patients to targeted therapies, immunotherapies and relevant clinical trials based on tumor biology. Caris provides laboratory-based diagnostic testing and related interpretive reports, combining high-throughput sequencing and other molecular technologies with bioinformatic analysis. The article "Caris Life Sciences Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.