Caris Life Sciences CAI

Caris Life Sciences reported revenue of $275.36 million

Form
10-Q
Filed
Importance
Notable
  1. Revenue: $275.36 million for the three months ended Sep 30, 2026
  2. Net income: $15.25 million for the three months ended Sep 30, 2026
  3. Diluted EPS: $0.05 for the three months ended Sep 30, 2026

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The reading, claim by claim

  1. For that quarter it reported revenue of $275.4 million and net income of $15.3 million, with revenue up 27.0% from a year earlier.
  2. In the statements of operations (amounts in thousands), molecular profiling services revenue was $262,707 thousand for the three months ended September 30, 2026, against $207,587 thousand a year earlier.
  3. Pharma research and development services revenue was $12,651 thousand, against $9,246 thousand.
  4. Income from operations was $19,316 thousand for the three months, against $32,642 thousand a year earlier.
  5. Net income was $15,250 thousand, against $24,325 thousand.
  6. Diluted net income per share was $0.05, against $0.08 a year earlier.
  7. For the nine months ended September 30, 2026, total revenue was $755,243 thousand and net income was $14,103 thousand.
  8. The balance sheet (amounts in thousands) shows cash, cash equivalents, and restricted cash of $665,321 thousand as of September 30, 2026, against $797,799 thousand as of December 31, 2025.
  9. Total assets were $1,255,623 thousand and total liabilities were $616,142 thousand.
  10. Long-term indebtedness, net, was $393,178 thousand.

10 of 11 claims matched the filing text.

Not found in the filing text

  • In the nine months ended September 30, 2025, the company reported a net loss of $150,045 thousand.

From the filing

Item 6.

Exhibits

Signatures

Special Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q (this "Quarterly Report") 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 Quarterly Report, including statements regarding our expectations of future results of operations and financial condition, business strategy, future solutions, and launches of new solutions, technology, R&D costs, regulatory approvals, potential market opportunity, anticipated trends in our business, timing and likelihood of success, as well as plans and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that are in some cases beyond our control and may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.

The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would," or the negative of these terms or other similar expressions, are intended to identify forward looking statements. Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements about:

• developments in the precision medicine industry, including the market size for molecular information services and our biopharma partners' use of molecular information;

• our expectations as to our addressable U.S. market in oncology, future financial performance, results of operations, or other operational results or metrics;

• our ability to scale the Caris platform and develop and successfully launch new solutions or enhancements to existing solutions, as well as commercial market acceptance for our solutions, acceptance of preventive as well as diagnostic testing paradigms, and our ability to generate and meet demand for new and enhanced solutions;

• our ability to capture, aggregate, analyze, or otherwise utilize molecular information in novel ways;

• our ability to compete with companies that are currently in, or may in the future enter, the industry in which we operate;

• validation and performance of our solutions;

• third-party payer reimbursement and coverage decisions, including the effect of legislative, regulatory, or administrative actions on reimbursement;

• the ability of our solutions to help our biopharma partners and physicians improve the efficiency and success of their therapeutic development, and clinical programs;

• our ability to establish, maintain, protect, enforce and enhance our intellectual property rights;

• federal, state, and foreign regulatory requirements, including FDA regulation of our solutions, the timing, likelihood, or conditions of regulatory filings and approvals, and our compliance with applicable laws and regulations;

• government investigations or litigation;

• our ability to hire and retain key personnel;

• our anticipated cash needs and our estimates regarding our capital requirements;

• our estimates regarding our expenses, future revenue, and capital requirements; and

• remediating the material weakness in our internal control over financial reporting.

These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in the section titled "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 and in other filings we make with the Securities and Exchange Commission from time to time. Moreover, we operate in a competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the forward-looking events and circumstances discussed in this Quarterly Report may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

Although we believe that the expectations reflected in our forward-looking statements are reasonable based on the information available to us when they are made, we cannot guarantee that the future results, advancements, discoveries, levels of activity, performance, or events and circumstances reflected in the forward-looking statements will be achieved or occur. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or 1

Table of Contents review of, all potentially available relevant information. These statements are inherently uncertain, and you are cautioned not to unduly rely upon these forward-looking statements. We undertake no obligation to update any forward-looking statements, which speak only as of the date they are made, for any reason after the date of this Quarterly Report.

Part I - Financial Information

Item 1. Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) CARIS LIFE SCIENCES, INC CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (amounts in thousands, except share data) As of September 30, As of December 31,
20262025
Assets
Current assets:
Cash, cash equivalents, and restricted cash8$665,3218$797,7998
Short-term marketable securities102,0592,295
Accounts receivable133,322112,140
Supplies138,37263,625
Prepaid expenses and other current assets28,19421,941
Total current assets1,067,268997,800
Property and equipment, net102,29563,170
Goodwill19,34419,344
Other assets66,71645,349
Total assets9$1,255,6239$1,125,6639
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable$63,836$39,206
Accrued expenses and other current liabilities95,02187,770
Current portion of indebtedness89169
Total current liabilities158,946127,145
Long-term indebtedness, net10393,17810378,82310
Other long-term liabilities64,01842,388
Total liabilities9616,1429548,3569
Commitments and contingencies (see note 8)
Shareholders' equity:
Preferred stock, $0.001 par value per share; 100,000,000 shares authorized as of September 30, 2026 and December 31, 2025; no shares issued and outstanding as of September 30, 2026 and December 31, 2025——

Common stock, $ 0.001 par value per share; 2,800,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 286,717,657 and 284,137,810 shares issued as of September 30, 2026 and December 31, 2025, respectively; 286,717,657 and 282,526,097 shares outstanding as of September 30, 2026 and December 31, 2025, respectively; shares issued and outstanding include 3,288 and 23,446 unvested shares subject to repurchase as of September 30, 2026 and December 31, 2025, respectively

287 283

Treasury stock at cost, 0 and 1,611,713 shares of common stock as of September 30, 2026 and December 31, 2025, respectively—(16,896)
Additional paid-in capital3,173,9323,141,720
Accumulated deficit(2,534,633)(2,548,736)
Accumulated other comprehensive income (loss)(105)936
Total shareholders' equity639,481577,307
Total liabilities and shareholders' equity$1,255,623$1,125,663
The accompanying notes are an integral part of these condensed consolidated financial statements3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

(amounts in thousands, except share and per share data) Three Months Ended September 30, Nine Months Ended September 30,

2026202520262025
Revenue:
Molecular profiling services2$262,7072$207,5872$725,7602$484,5932
Pharma research and development services312,65139,246329,483334,5543
Total revenue1275,3581216,8337755,2437519,1477
Costs and operating expenses:
Cost of Services - Molecular profiling services89,17266,980243,383193,195
Cost of Services - Pharma research and development services3,9012,3478,6307,698
Selling and marketing expense59,85341,267158,661123,355
General and administrative expense (see note 9)69,27851,973195,534168,458
Research and development expense33,83821,62497,51169,739
Total costs and operating expenses256,042184,191703,719562,445
Income (Loss) from operations419,316432,642451,5244(43,298)4
Other expense, net:
Interest income6,3327,36019,9859,482
Interest expense(9,249)(13,507)(31,286)(45,497)
Changes in fair value of financial instruments—(2,081)—(52,285)
Other income (expense), net475(89)(24,607)(18,447)
Total other expense, net(2,442)(8,317)(35,908)(106,747)
Income (Loss) before income taxes16,87424,32515,616(150,045)
Income tax expense(1,624)—(1,513)—
Net income (loss)515,250524,325514,1035(150,045)5
Other comprehensive income (loss), net of tax:
Unrealized loss on available-for-sale securities(153)—(408)—
Foreign currency translation adjustments(481)79(633)538
Comprehensive income (loss)14,61624,40413,062(149,507)
Net income (loss) attributable to common shareholders:
Net income (loss)15,25024,32514,103(150,045)
Deemed dividend from Series D redeemable convertible preferred stock———(384,436)
Adjustments of redeemable convertible preferred stock to redemption value———(85,433)
Net income (loss) attributable to common shareholders$15,250$24,325$14,103$(619,914)
Net income (loss) per share attributable to common shareholders:
Basic$0.05$0.09$0.05$(4.83)
Diluted6$0.056$0.086$0.056$(4.83)6
Weighted-average shares used in computing net income (loss) per share attributable to common shareholders:
Basic283,894,498282,099,073283,118,633128,447,673
Diluted295,140,869297,211,838294,241,534128,447,673
The accompanying notes are an integral part of these condensed consolidated financial statements4

Table of Contents

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND SHAREHOLDERS' EQUITY (DEFICIT) (UNAUDITED)
Three Months Ended September 30, 2026
Common Stock Treasury Stock Additional Paid-In Capital Accumulated Deficit Accumulated Other Comprehensive Income (Loss) Total Shareholders' Equity (amounts in thousands, except share data) Shares Amount Shares Amount
Balances at June 30, 2026282,582,915$283—$—$3,140,805$(2,549,883)$529$591,734
Stock-based compensation————18,498——18,498
Issuance of common stock upon exercise of stock options4,697,1085——24,393——24,398
Shares withheld related to net share settlement of stock-based compensation(59,588)———(96)——(96)
Repurchase of common stock(514,525)(1)514,525(9,994)———(9,995)
Retirement of treasury stock——(514,525)9,994(9,994)———
Vesting of shares from early exercised stock options————326——326
Issuance of common stock for RSUs vested11,747———————
Other comprehensive loss——————(634)(634)
Net income—————15,250—15,250
Balances at September 30, 2026286,717,657$287—$—$3,173,932$(2,534,633)

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Data on this page was fetched . The filing on SEC.gov is the record.