Caris Life Sciences — Third Quarter 2026 Earnings Summary

Financial Performance:

• Reported total revenue of $275.4 million for the quarter ended September 30, 2026, an increase of 27% year-over-year compared to $216.8 million in the prior year period.
• Molecular profiling services revenue reached $262.7 million, up 27% from $207.6 million in the prior year period.
• Completed approximately 61,500 clinical cases, a 21% increase year-over-year.
• Reported gross margin of 66%, down from 68% in the prior year period.
• Reported net income of $15.3 million, compared to $24.3 million in the prior year period.
• Reported net income per share (basic and diluted) of $0.05, compared to $0.09 and $0.08 respectively in the prior year period.
• Reported positive Adjusted EBITDA of $44.4 million, down from $51.2 million in the prior year period.
• Reported net cash used in operating activities of $22.2 million, a 136% decrease from $62.4 million provided in the prior year period.
• Reported free cash flow of $(39.7) million, compared to positive free cash flow of $55.3 million in the prior year period.
• Operating expenses increased 42% to $163.0 million from $114.9 million in the prior year period, driven by headcount, R&D, and marketing.
• Total assets were $1.26 billion as of September 30, 2026, compared to $1.13 billion as of December 31, 2025.
• Long-term indebtedness, net, was $393.2 million as of September 30, 2026, compared to $378.8 million as of December 31, 2025.

Guidance and Future Outlook:

• Raised full-year 2026 revenue guidance to a range of $1.04 billion to $1.05 billion, representing 28% to 29% growth compared to full-year 2025.
• Reaffirmed guidance for clinical therapy selection volume growth of approximately 20% compared to full-year 2025.
• Targeted launch of Caris Confirm, a Whole Genome, tumor-informed assay for minimal residual disease, before year-end 2026.

Business Segments and Product Lines:

• Launched Caris Assure Therapy Response Monitoring, extending the Caris Assure blood-based platform to serial monitoring of treatment response.
• Launched enhanced Caris Assure for Therapy Selection with therapy-focused sequencing depth reaching 40,000x and RNA reads increasing to approximately 600 million.
• Published validation of the Caris AI Insights™ pancreatic cancer signature, demonstrating AI-based molecular signature predictive capability for first-line treatment benefits.
• Surpassed 1,200,000 total profiles and 845,000 total matched profiles through September 30, 2026.
• Accumulated over 849,000 Whole Transcriptome and 796,000 Whole Exome profiles through September 30, 2026.
• Launched two national advertising campaigns featuring Kevin Costner and Jordan Spieth to spotlight early-stage cancer detection and introduce Caris Detect™.

Other Key Points:

• Announced a share repurchase program of up to $100.0 million, with approximately $72.1 million remaining available for repurchase under existing Board authorization as of the reporting date.
• Repurchased common stock for $31.4 million during the nine months ended September 30, 2026.
• Repaid the 2023 term loan in full ($406.3 million) during the nine months ended September 30, 2026.
• Proceeds from the 2026 term loan, net of issuance costs, were $393.5 million during the nine months ended September 30, 2026.
• Cash, cash equivalents, and restricted cash totaled $665.3 million as of September 30, 2026.