CAI Caris Life Sciences, Inc.

Overview and Growth

Caris Life Sciences, Inc. generated $812.03M of revenue in fiscal 2025, with net loss of $68.09M and an operating cash inflow of $83.16M. At $812.03M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $412.26M in fiscal 2024, revenue recorded a 97.0% year-over-year increase. Diluted earnings per share were -$3.22, translating the period’s attributable earnings into the amount reported for each diluted share. A diluted share base of 167.21M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. At period end, total assets were $1.13B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.72x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Operating income was $45.11M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 5.6%, showing how efficiently sales converted into operating profit. The bottom-line result was a net loss of $68.09M after operating, financing, tax, and other recognized items. Net margin was -8.4%, reflecting a loss equal to 8.4% of reported revenue. EBITDA was $67.73M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $68.09M, before the effect of income taxes. Pretax margin was -8.4%, reflecting a pre-tax loss equal to 8.4% of revenue. Income tax expense totaled $0.00, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 11.8%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 6.0%. The net loss narrowed to $68.09M from $281.89M in fiscal 2024.

Liquidity and Capital Structure

The company held $1.13B of assets against $548.36M of liabilities and $577.31M of equity, revealing how the asset base was financed. The near-term balance sheet paired $997.80M of current assets with $127.14M of current liabilities at the reporting date. At 7.85x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $796.27M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 626.3% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $378.99M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.66x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 33.7%, comparing borrowing with the total asset balance. Equity equaled 51.3% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 48.7% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 70.7%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 227.5% from $343.73M in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

The company reported $83.16M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital expenditures used $16.26M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 19.6% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $66.89M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 8.2% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 5.9%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.