Caris Life Sciences, Inc. (CAI)
NASDAQ:CAI
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Caris Life Sciences, Inc.
(NASDAQ:CAI)
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Rating:55Neutral
Price Target:
$15.00
▼(-29.08% Downside)
Action:Reiterated
Date:05/14/26
Score is supported primarily by improving fundamentals and a strong earnings-call read-through (rapid revenue growth, margin expansion, and positive cash generation with reaffirmed guidance). It is held back by ongoing large net losses/valuation limitations and weak technicals with the stock trading well below key moving averages and negative MACD.
Positive Factors
Rapid revenue and volume growth
Sustained double-digit to high-growth top-line and rising completed-case run-rates indicate durable commercial adoption of Caris' profiling services. Strong volume growth supports operating leverage and revenue predictability over the next 2–6 months as sales hiring and activations scale.
Negative Factors
Large historical net losses
Despite recent EBITDA and cash-flow improvements, persistent deep net losses weaken long-term return prospects and hinder ability to convert operational gains into sustainable profitability. Continued net losses could pressure equity returns and limit strategic optionality over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid revenue and volume growth
Sustained double-digit to high-growth top-line and rising completed-case run-rates indicate durable commercial adoption of Caris' profiling services. Strong volume growth supports operating leverage and revenue predictability over the next 2–6 months as sales hiring and activations scale.
Read all positive factors
Caris Life Sciences, Inc. (CAI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.11B
Dividend YieldN/A
Average Volume (3M)2.34M
Price to Earnings (P/E)―
Beta (1Y)1.87
Revenue Growth100.51%
EPS Growth-10.99%
CountryUS
Employees1,769
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.56
Shares Outstanding282,680,700
10 Day Avg. Volume1,818,364
30 Day Avg. Volume2,343,836
Financial Highlights & Ratios
PEG Ratio2.83
Price to Book (P/B)78.14
Price to Sales (P/S)55.55
P/FCF Ratio674.37
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue3.80
Enterprise Value/Gross Profit5.53
Enterprise Value/Ebitda33.00
Forecast
1Y Price Target
$27.92Price Target Upside31.99% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)0.12
Revenue Forecast (FY)$1.00B
Caris Life Sciences, Inc. Business Overview & Revenue Model
Company Description
Caris Life Sciences, Inc., an artificial intelligence TechBio company, provides molecular profiling services in the United States and internationally. It develops and commercializes solutions to transform healthcare using molecular information, an...
How the Company Makes Money
Caris primarily makes money by providing laboratory testing and related services and by supporting biopharmaceutical research with molecular data and associated capabilities. Key revenue streams include: (1) Clinical testing services: Fees generat...
Caris Life Sciences, Inc. Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call presented strong commercial and financial momentum: substantial revenue and ASP growth, materially improved gross margins, positive adjusted EBITDA and free cash flow, meaningful balance sheet strength, multiple product launches, and encouraging MCED validation data. Headwinds are predominantly timing and phasing related—sales realignment effects on completed cases, short-term Pharma revenue cadence, and elevated near-term investment and CapEx ahead of new product launches. Reimbursement dynamics remain a watch item despite management's confident position. Overall, the positive operational and financial progress and strategic initiatives outweigh the timing and investment-related challenges.Positive Updates
Record Revenue Growth
Total revenue of $216.0M in Q1 2026, up 79% year-over-year, driven primarily by molecular profiling services.
Negative Updates
Timing-Related Volume Shortfall vs Internal Expectations
Completed cases in Q1 were modestly below initial internal expectations due to timing between activations and completions following a January sales realignment; required ramp in Feb–Mar to catch up and a continued ramp is needed to meet full-year targets.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Revenue Growth
Total revenue of $216.0M in Q1 2026, up 79% year-over-year, driven primarily by molecular profiling services.
Read all positive updates
Company Guidance
Management reaffirmed the February guidance while highlighting volumes and near-term cadence: full-year tissue growth is expected in the low teens and blood growth in the high‑50s to low‑60s, with Q2 volume guidance implying ~10% sequential growth from Q1 to above 58,000 completed cases (Q2 run‑rate roughly 47,500 tissue and >10,000 blood), supported by a February/March exit run rate of ~56,000; Q1 actual completed cases were ~52,800 (≈43,600 tissue, ≈9,200 Caris Assure). Financially, Q1 revenue was $216M (+79% YoY) with molecular profiling at $211M (+85% YoY), molecular profiling gross margin 65% (vs. 47% a year ago), adjusted EBITDA of $26M and positive free cash flow of ~$22–23M, and management expects Q2 revenue growth consistent with the prior guide (~32% quarter over year), Q2 gross margin in the 60%–65% range, Q2 CapEx and inventory build (including ~ $30M of PPE purchases), and will assess incremental contributions from Caris ChromaSeq (MolDX price $3,228) and MI Clarity after Q2.Caris Life Sciences, Inc. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
45
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 907.29M | 812.03M | 412.26M | 306.13M | 258.49M | 294.01M |
| Gross Profit | 623.45M | 539.17M | 178.78M | 89.31M | 80.02M | 184.16M |
| EBITDA | 104.48M | 11.38M | -182.95M | -260.80M | -245.89M | 254.46M |
| Net Income | 33.98M | -537.96M | -281.89M | -341.42M | -320.83M | 27.73M |
Balance Sheet | ||||||
| Total Assets | 1.16B | 1.13B | 343.73M | 412.90M | 717.42M | 2.61B |
| Cash, Cash Equivalents and Short-Term Investments | 823.46M | 800.09M | 66.15M | 121.59M | 409.62M | 132.54M |
| Total Debt | 173.00K | 378.99M | 424.26M | 217.27M | 270.87M | 1.75B |
| Total Liabilities | 568.90M | 548.36M | 2.84B | 2.56B | 2.42B | 1.91B |
| Stockholders Equity | 593.49M | 577.31M | -2.50B | -2.14B | -1.70B | 702.24M |
Cash Flow | ||||||
| Free Cash Flow | 123.46M | 66.89M | -253.64M | -298.42M | -327.96M | 57.57M |
| Operating Cash Flow | 147.37M | 83.16M | -245.20M | -276.10M | -285.71M | 277.02M |
| Investing Cash Flow | -23.91M | -16.26M | 52.93M | 214.77M | -282.99M | -33.97M |
| Financing Cash Flow | 664.53M | 664.99M | 200.29M | 10.13M | 10.45M | -249.88M |
Caris Life Sciences, Inc. Risk Analysis
Caris Life Sciences, Inc. disclosed 45 risk factors in its most recent earnings report. Caris Life Sciences, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Caris Life Sciences, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $4.11B | -2,476.57 | 6.47% | ― | 100.51% | -10.99% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $14.67M | -0.32 | -189.72% | ― | ― | 80.68% | |
45 Neutral | $9.19M | -2.34 | -97.58% | ― | 78.64% | 50.70% | |
43 Neutral | $27.40M | -0.06 | -83.59% | ― | ― | 19.36% | |
40 Underperform | $485.13K | -2.13 | ― | ― | -8.57% | -52.17% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.