Caris Life Sciences Inc.
CAI evidence brief
What we can confirm
What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · CAI
Caris Life Sciences Inc. is a precision oncology company that provides molecular profiling solutions and biopharma research and development services, generating revenue of $263.7M in Q2 2026 while narrowing its net loss to $0.6M.
Key risk: High debt burden
BioSniper Score
Based on 5 of 6 signals
Market Cap
$7.24B
Cash Runway
—
Lead Asset
caris assure (Preclinical)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates for Caris Life Sciences Inc..
Caris Life Sciences Inc. is a precision oncology company that provides molecular profiling solutions and biopharma research and development services, generating revenue of $263.7M in Q2 2026 while narrowing its net loss to $0.6M.
- Generated total revenue of $263.7 million for the three months ended June 30, 2026, compared to $181.4 million in the same period of 2025 [sec_mda · as of 2026-08-05].
- Net loss narrowed to $0.6 million for Q2 2026 from $71.8 million in Q2 2025 [sec_mda · as of 2026-08-05].
- Cash, cash equivalents, restricted cash and marketable securities totaled $794.9 million as of June 30, 2026 [sec_mda · as of 2026-08-05].
- Total debt outstanding under its term loan was $400.0 million as of June 30, 2026 [sec_mda · as of 2026-08-05].
- Completed an IPO in June 2025, issuing 23,529,412 shares at $21.00 per share, generating net proceeds of $459.5 million [sec_mda · as of 2026-03-03].
What works
- Revenue growth is accelerating, with Q2 2026 revenue of $263.7M up 45% year-over-year from $181.4M in Q2 2025 [sec_mda · as of 2026-08-05].
- The company is approaching profitability, with net loss shrinking to just $0.6M in Q2 2026 from $71.8M a year earlier [sec_mda · as of 2026-08-05].
- Strong liquidity position with $794.9M in cash and marketable securities as of June 30, 2026, providing runway for operations and pipeline development [sec_mda · as of 2026-08-05].
- Adjusted EBITDA turned positive at $55.7M for Q2 2026, up from $16.7M in Q2 2025, indicating improving operational efficiency [sec_mda · as of 2026-08-05].
What to weigh
- The company carries significant debt of $400.0M as of June 30, 2026, with interest and repayment obligations that could strain cash flows [sec_mda · as of 2026-08-05].
- Future capital needs remain uncertain and may require additional equity or debt financing, which could dilute shareholders or increase leverage [sec_mda · as of 2026-08-05].
- The business depends on market adoption of its molecular profiling solutions and maintaining biopharma partnerships, both of which face competitive and regulatory risks [sec_mda · as of 2026-05-08].
- Operating expenses are expected to increase due to commercial expansion and pipeline trials, which could pressure margins if revenue growth slows [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
Revenue and net loss for Q2 2026
“For the three months ended June 30, 2026 and 2025, we generated total revenue of $263.7 million and $181.4 million, respectively, and incurred a net loss of $0.6 million and $71.8 million, respectively.”
SEC MD&A · August 5, 2026
Cash position as of June 30, 2026
“As of June 30, 2026, we had cash, cash equivalents, restricted cash and marketable securities of $794.9 million”
SEC MD&A · August 5, 2026
Debt outstanding as of June 30, 2026
“the aggregate principal amount of debt outstanding under our existing term loan was $400.0 million”
SEC MD&A · August 5, 2026
IPO details from June 2025
“On June 20, 2025, we completed our initial public offering ("IPO") of our common stock, in which the Company issued and sold 23,529,412 shares of its common stock at a price of $21.00 per share, which resulted in net proceeds of $459.5 million”
SEC MD&A · March 3, 2026
Risks & what to watch (4)›
Key risks
- High debt burden — Total debt of $400.0M as of June 30, 2026, with covenants and default risks that could accelerate repayment obligations [sec_mda · as of 2026-08-05].
- Need for additional capital — The company may require further equity or debt financing to fund operations, pipeline trials, and expansion, creating dilution or leverage risk [sec_mda · as of 2026-08-05].
- Dependence on market adoption — Success relies on broad adoption of molecular profiling solutions and maintaining biopharma partnerships, which are subject to competitive and regulatory pressures [sec_mda · as of 2026-05-08].
- Rising operating expenses — Expenses are expected to increase with commercial expansion and pipeline activities, potentially impacting profitability if revenue growth slows [sec_mda · as of 2026-08-05].
What to watch
- Revenue growth trajectory and ability to sustain or accelerate the 45% year-over-year increase seen in Q2 2026 [sec_mda · as of 2026-08-05].
- Progress toward sustained profitability, given the narrow net loss of $0.6M in Q2 2026 [sec_mda · as of 2026-08-05].
- Cash burn rate and any need for additional financing, with $794.9M in cash as of June 30, 2026 [sec_mda · as of 2026-08-05].
- Updates on pipeline clinical trials and new solution launches, which are key to future revenue diversification [sec_mda · as of 2026-08-05].
Sources: SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 1.08 · 0% dilution
Lead: Preclinical
2 candidates
No upcoming catalysts tracked
2 buys · 0 sells (180d)
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
198
Total value held
$1.95B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 30,785,585 | $550.4M |
| coatue management llc | 9,819,992 | $175.6M |
| braidwell lp | 8,009,447 | $143.2M |
| vanguard capital management llc | 6,658,042 | $119.0M |
| blackrock, inc. | 4,857,112 | $86.8M |
| vanguard portfolio management llc | 3,758,462 | $67.2M |
| neuberger berman group llc | 3,590,586 | $64.2M |
| jpmorgan chase & co | 3,460,215 | $58.3M |
| orbimed advisors llc | 2,806,811 | $50.2M |
| ubs group ag | 2,745,811 | $49.1M |
Showing top 10 of 198 institutional holders of Caris Life Sciences Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 11.1%
- Days to cover
- 7.0
- Shares short
- 12,733,076
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CAI short interestGovernance
Frequently asked questions
What is the AI investment thesis for Caris Life Sciences Inc.?
Caris Life Sciences Inc. is a precision oncology company that provides molecular profiling solutions and biopharma research and development services, generating revenue of $263.7M in Q2 2026 while narrowing its net loss to $0.6M.
What is Caris Life Sciences Inc.'s lead drug candidate?
Caris Life Sciences Inc.'s most advanced tracked candidate is caris assure (Preclinical) for Minimal residual disease tracking and treatment monitoring.
Who is the CEO of Caris Life Sciences Inc.?
Dr. David Dean Halbert M.D. is the chief executive officer of Caris Life Sciences Inc. (CAI).
Where is Caris Life Sciences Inc. headquartered?
Caris Life Sciences Inc. (CAI) is headquartered in Irving, TX, United States.
What therapeutic areas does Caris Life Sciences Inc. focus on?
Caris Life Sciences Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.