Caris Life Sciences (NASDAQ: CAI) reported preliminary results for the fourth quarter and the full year 2025, showing a 94% year‑over‑year increase in total revenue to approximately $800 million. The company’s Q4 revenue rose 116% to $281 million, driven by a surge in its Molecular Profiling services, which accounted for the bulk of the quarter’s top line. The 94% full‑year growth reflects a 2024 revenue of roughly $412 million, underscoring a rapid acceleration in demand for precision‑medicine diagnostics.
Net income for the third quarter was $24.3 million, the company’s first positive operating profit in that period. The preliminary full‑year 2025 net income figure was not disclosed, and the company has not confirmed that the $24.3 million figure applies to the entire year. The Q3 result, however, marked a turnaround from a net loss in Q3 2024 and signals improving profitability as the company scales its services.
Segment analysis shows that Molecular Profiling services generated $281 million in Q4 revenue, up 116% YoY, while Pharma R&D services contributed a smaller portion of the total. Across the full year, Molecular Profiling remained the dominant driver, accounting for the majority of the $800 million revenue. The strong mix shift toward higher‑margin services helped lift gross margin to 68.0% in Q3, up from 43.7% in Q3 2024, and supported the positive operating result.
CEO David D. Halbert described 2025 as a “breakthrough year” for Caris, noting that the company’s public‑company status and the expansion of its comprehensive molecular profiling platform have accelerated adoption. He added that the firm is focused on scaling clinical use, advancing a differentiated pipeline, and building a foundation for a new standard in precision medicine. These comments highlight management’s confidence in sustained growth and the strategic importance of the company’s AI‑driven analytics.
The results beat consensus revenue estimates of $723 million, reflecting robust demand in oncology and pharmaceutical research. The 116% Q4 growth and 94% full‑year growth signal accelerating market share gains, while margin expansion indicates effective pricing power and operational leverage. Management’s guidance, which raised full‑year revenue outlooks and maintained a positive outlook for operating income, signals confidence in continued demand and cost discipline. Headwinds include competitive pressure in the genomic profiling market and the need to manage cost inflation, but the company’s large clinico‑genomic dataset and AI capabilities position it well for long‑term growth.
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