Key Highlights

• Q3 2026 Revenue reached $275.4 million, up 27% year-over-year, with approximately 61,500 clinical cases completed

• The company raised 2026 revenue guidance to $1.04–$1.05 billion, representing 28%–29% growth

• Reported positive Adjusted EBITDA of $44.4 million and Net Income of $15.3 million

• Launched Caris Assure Therapy Response Monitoring and announced upcoming launch of Caris Confirm for minimal residual disease detection

Caris Life Sciences Inc(NASDAQ:CAI), an Irving, Texas-based molecular diagnostics and precision oncology company, reported another quarter of accelerating growth on November 4, 2026, delivering record testing volumes and raising its full-year revenue outlook. The company operates at the intersection of technology and biology, developing and commercializing solutions that Leverage whole exome, whole transcriptome, whole genome, and AI-driven digital pathology to guide cancer treatment decisions.

Record Case Volumes and Revenue Acceleration

Total revenue for Q3 2026 was $275.4 million, a 27% increase over $216.8 million in the corresponding period of 2025. The growth was driven by approximately 61,500 clinical cases completed during the quarter, consisting of over 358,000 individual oncology tests — a 21% increase in case Volume from the prior-year period. Gross Margin was 66% for the quarter.

Net income reached $15.3 million, while Adjusted EBITDA came in at $44.4 million. Net cash used in Operating Activities was $22.2 million, and free Cash Flow was negative $39.7 million, reflecting continued Investment in infrastructure and commercial capabilities. The company also has a share repurchase program of up to $100.0 million, of which approximately $72.1 million remained available as of the reporting date.

Expanding the Precision Medicine Platform

Caris launched several platform expansions during the quarter. The Caris Assure blood-based platform was extended from therapy selection to serial monitoring of treatment response with the launch of Caris Assure Therapy Response Monitoring. Additionally, the enhanced Caris Assure for Therapy selection now features sequencing depth reaching 40,000x and increased RNA reads to approximately 600 million.

The company also announced that Caris Confirm, its whole genome, tumor-informed assay for minimal residual disease detection, is targeted for launch before year-end 2026. Founder, Chairman, and CEO David Dean Halbert noted that the company's comprehensive data-driven approach allows it to move across the entire cancer journey, from initial profiling through treatment monitoring and MRD detection.

Clinical Validation and Market Awareness

Caris published validation of the Caris AI Insights pancreatic cancer signature, demonstrating that an AI-based molecular signature can predict first-line treatment benefits. The company has now surpassed 1.2 million total profiles and 845,000 matched profiles through September 30, 2026, with over 849,000 whole transcriptome and 796,000 whole exome profiles in its database.

On the commercial front, Caris launched two national Advertising campaigns featuring Kevin Costner and Jordan Spieth, spotlighting early-stage cancer detection and introducing its Caris Detect consumer-facing product to a broader audience.

Upgraded Guidance and What Comes Next

Caris raised its 2026 revenue guidance to $1.04 billion to $1.05 billion, representing 28% to 29% growth over 2025. The upward revision reflects the sustained momentum in clinical case volumes, the broadening of the Caris Assure platform, and the upcoming launch of Caris Confirm. With its expanding test menu and growing molecular database, the company is building an increasingly differentiated position in the precision oncology market as it heads into 2027.