Cai International Stock Earnings Reports

Caris Life Sciences reported a strong Q1 2026: total revenue was $216M, up 79% year-over-year, driven by molecular profiling revenue of $211M (up 85%). Case volumes were 52,800 (up 15% YoY) with ~70% of orders via EHR/portal; the company exited Feb–Mar at an approximate 56,000 run rate and expects >58,000 cases in Q2 (about 10% sequential growth). ASPs increased materially (tissue ASP +70% to >$4,300; blood ASP +14% to ~$2,500), supporting a GAAP gross margin of 65% (vs. 47% a year ago). Caris delivered positive adjusted EBITDA ($26M) and free cash flow ($22.5M) for the fourth consecutive quarter, and ended the quarter with cash just above $825M. The company refinanced with a new $400M facility (extended maturity, lower interest) plus a $300M delayed draw for potential M&A. Product and pipeline highlights: launch of Caris ChromoSeq (heme whole-genome assay) and Caris MI Clarity (digital pathology prognostic test), progress and near-term commercial launch of Caris Detect (MCED) with Everlywell, ongoing MRD (tumor-naive colorectal focus and tumor-informed pan-tumor work), and continued expansion of the Precision Oncology Alliance (100th member: UCSF). Commercially, Caris realigned and expanded territories (82 -> 146) and strengthened the field organization (~270 commercial team members exiting Q1, targeting ~300 in Q2); this realignment drove improved activations in Feb–Mar. Reimbursement posture: Caris’ assays are CDLTs (not ADLTs); the company submitted PAMA data May 1 and does not expect downward adjustments. Guidance: management reaffirmed prior FY guidance (volume: tissue low teens, blood high-50s to low-60s growth; overall revenue range unchanged) and will reassess after Q2. Near-term priorities: prepare for MCED commercial launch (incremental CapEx and inventory build in Q2), continue commercial expansion and launches (ChromoSeq, MI Clarity), and prioritize MRD after current launches.