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Caris Life Sciences (CAI) investor relations material

Caris Life Sciences Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary12 Aug, 2025

Executive summary

  • Achieved 81% year-over-year revenue growth in Q2 2025, reaching $181.4M, driven by strong molecular profiling and pharma R&D services performance.

  • Clinical case volumes grew 22% year-over-year to 50,032, with clinical ASP up 52% to $3,256.

  • Achieved positive adjusted EBITDA of $16.7M and positive free cash flow of $5.9M in Q2 2025.

  • Net loss was $71.8M, impacted by one-time IPO-related expenses and deemed dividends.

  • Completed successful June IPO, raising over $519M in net proceeds, and expanded Precision Oncology Alliance to 97 members.

Financial highlights

  • Total Q2 2025 revenue: $181.4M, up 81% year-over-year; molecular profiling: $162.9M (+86%), pharma R&D: $18.5M (+49%).

  • Gross margin improved to 62.7% from 37.5% in Q2 2024.

  • Adjusted EBITDA positive at $16.7M; free cash flow positive at $5.9M.

  • Cash, cash equivalents, and marketable securities totaled $724.9M as of June 30, 2025.

  • Net loss per share was $7.97, impacted by a $384.4M one-time deemed dividend and $61.0M in preferred stock adjustments.

Outlook and guidance

  • FY 2025 revenue guidance: $675M–$685M, representing 64–66% growth over 2024.

  • Clinical therapy selection volume expected to grow 19–21% for the year.

  • Gross margin target for 2025 is 60%, up from 43.4% in 2024.

  • Continued positive adjusted EBITDA and free cash flow expected for the remainder of 2025.

  • Sufficient liquidity expected for at least the next 12 months, with ongoing evaluation of capital needs.

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