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# Caris Raises 2026 Revenue Outlook To $1.04 Billion To $1.05 Billion As Quarterly Cash Flow Turns Negative
- URL: https://www.bullished.co/caris-raises-2026-revenue-outlook-to-1-04-billion-to-1-05-billion-as-quarterly-cash-flow-096eaac2/
- Published: 2026-11-04T23:56:53.000Z
- Updated: 2026-11-04T23:56:53.000Z
- Description: Third-quarter revenue grew 27%, but operating costs jumped 42% and net income fell to $15.3 million from $24.3 million.
- Author: Matteo Parrino
- Tags: Earnings, CAI, Industry: Healthcare

Caris Life Sciences, which sequences tumors and blood to help oncologists pick cancer therapies, raised its 2026 revenue forecast to $1.04 billion to $1.05 billion after [third-quarter revenue rose 27%](https://www.sec.gov/Archives/edgar/data/0002019410/000201941026000067/cai%5Fex99-1.htm?ref=bullished.co) to $275.4 million, the company said Wednesday. Spending on staff, research and marketing climbed faster than sales, though, cutting profit and pushing the quarter's cash flow negative.

## Sales up 27%, profit down

Revenue was [$216.8 million](https://www.prnewswire.com/news-releases/caris-life-sciences-reports-third-quarter-2026-financial-results-and-increases-2026-revenue-guidance-302929429.html?ref=bullished.co) a year earlier. Molecular profiling services, the core testing business, brought in $262.7 million, up 27% from $207.6 million, which the company attributed to higher case volume and better average selling prices.

Clinical cases rose about 21% to [roughly 61,500](https://www.prnewswire.com/news-releases/caris-life-sciences-reports-third-quarter-2026-financial-results-and-increases-2026-revenue-guidance-302929429.html?ref=bullished.co). Gross margin slipped to 66% from 68%.

Operating expenses rose 42% to $163.0 million from $114.9 million, which the company said reflected headcount, research and development, and marketing. Net income fell to $15.3 million, or $0.05 a share, from $24.3 million, or $0.08 diluted, a year ago. Adjusted EBITDA was $44.4 million, against $51.2 million a year earlier.

## Cash burn in the quarter

Operating activities used $22.2 million of cash in the quarter, against $62.4 million provided a year earlier. The company cited commercial expansion, marketing, inventory built for new launches and research. Free cash flow was negative $39.7 million, versus positive $55.3 million.

For the first nine months, operating cash flow stayed positive at $39.1 million, and free cash flow was negative $10.8 million. Cash and equivalents stood at $665.3 million on September 30, down from $797.8 million at year-end; supplies on the balance sheet rose to $138.4 million from $63.6 million.

## Guidance and launches

Caris now expects 2026 revenue growth of 28% to 29% and kept its outlook for clinical therapy selection volume growth of about 20%.

Founder, Chairman and CEO David Dean Halbert said the company's Caris Confirm, a whole-genome test for minimal residual disease, is "targeted to launch before year-end." Caris also launched a therapy response monitoring version of its Caris Assure blood test and ran two national ad campaigns featuring Kevin Costner and Jordan Spieth.

The company's buyback authorization is $100.0 million, with about $72.1 million still available.

The company reported more than 1,200,000 total profiles through September 30, the database behind its drug-development business.

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### Sources

- [8-K Filing — Caris Life Sciences, Inc. (CAI)](https://www.sec.gov/Archives/edgar/data/0002019410/000201941026000067/cai-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit cai\_ex99-1.htm — Caris Life Sciences, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0002019410/000201941026000067/cai%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [Caris Life Sciences Reports Third Quarter 2026 Financial Results and Increases 2026 Revenue Guidance](https://www.prnewswire.com/news-releases/caris-life-sciences-reports-third-quarter-2026-financial-results-and-increases-2026-revenue-guidance-302929429.html?ref=bullished.co) — prnewswire.com