Caris Life Sciences reported third quarter 2026 revenue of $275.4 million, reflecting 27% year-over-year growth and exceeding the analyst estimate of $255.3 million. Diluted earnings per share reached $0.05, surpassing expectations of $0.03, supported by strong clinical case volume and molecular profiling service demand.
Key Highlights
- Full-year 2026 revenue guidance was raised to a range of $1.04 billion to $1.05 billion, representing projected annual growth of 28% to 29%.
- Clinical case volume reached 61,500 for the quarter, a 21% year-over-year increase, meeting analyst targets for the period.
- Gross margin contracted to 66% compared to 68% in the prior year, as operating expenses rose 42% to $163.0 million on higher R&D and marketing spend.
- Free cash flow for the quarter was negative $(39.7) million, down from positive $55.3 million a year ago, driven by commercial expansion and inventory buildup for new product launches.