The company completed approximately 59,200 clinical cases during the quarter, reflecting a 12% sequential increase. This growth trajectory, paired with a gross margin improvement to 68%, allowed the firm to post $55.7 million in Adjusted EBITDA and positive free cash flow of $6.4 million. Founder and CEO David Dean Halbert credited the record performance to sustained demand for the company’s comprehensive molecular profiling and ongoing investments in its commercial engine.
Caris Life Sciences Revenue Climbs 45% as Firm Ups 2026 Guidance
Caris Life Sciences reported $263.7 million in second-quarter revenue, marking a 45% increase over the previous year. Driven by a surge in molecular profiling services and clinical volume, the Irving-based TechBio firm raised its full-year 2026 revenue guidance to between $1.03 billion and $1.04 billion.
Operational expansion remains a primary focus, highlighted by the launch of Caris Detect, a multi-cancer early detection blood test, and the rollout of the MI Clarity prognostic tool for breast cancer. While the company narrowed its net loss significantly to $0.6 million from $71.8 million in the prior year period, operating expenses rose 16% to $152.7 million, largely due to increased headcount. To manage capital, the company maintains an active share repurchase program, with $82.1 million remaining under current board authorization.
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