Caris Life Sciences (CAI) financial statements
Caris Life Sciences reported revenue of $812M in fiscal 2025, up 62.9% a year over 2 years.
Net income was -$68M and the operating margin 5.6%, against -104.4% in 2023.
Free cash flow was $67M, and the company returned $113,000 in net buybacks.
The diluted share count rose 379% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Caris Life Sciences's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $306M | $412M | $812M |
| Research and development | $117M | $114M | $102M |
| Selling, general and admin | $292M | $322M | $392M |
| Operating income | -$320M | -$257M | $45M |
| Interest expense | $32M | $50M | $57M |
| Pre-tax income | -$341M | -$282M | -$68M |
| Income tax | $0 | $0 | $0 |
| Net income | -$341M | -$282M | -$68M |
| EPS (diluted) | -$13.24 | -$10.66 | -$3.22 |
| Diluted shares | 35M | 35M | 167M |
| Operating margin | -104.4% | -62.4% | 5.6% |
| Net margin | -111.5% | -68.4% | -8.4% |
Balance sheet
Fiscal years, from Caris Life Sciences's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | — | $66M | $799M |
| Receivables | — | $88M | $112M |
| Total current assets | — | $216M | $998M |
| Property, plant and equipment | — | $68M | $63M |
| Goodwill | — | $19M | $19M |
| Total assets | — | $344M | $1.1B |
| Total current liabilities | — | $165M | $127M |
| Long-term debt | — | $319M | $379M |
| Total liabilities | — | $621M | $548M |
| Shareholders' equity | -$2.1B | -$2.5B | $577M |
| Net debt | — | $316M | -$417M |
Cash flow
Fiscal years, from Caris Life Sciences's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | -$276M | -$245M | $83M |
| Capital spending | $22M | $8M | $16M |
| Free cash flow | -$298M | -$254M | $67M |
| Stock-based compensation | $15M | $19M | $70M |
| Share buybacks (net) | $0 | $0 | -$113,000 |
| Free cash flow margin | -97.5% | -61.5% | 8.2% |
Questions
What was Caris Life Sciences's revenue in 2025?
$812M in fiscal 2025, from its 10-K filing.
How much free cash flow does Caris Life Sciences generate?
$67M in fiscal 2025 (operating cash flow minus capital spending).
From Caris Life Sciences's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.