Caris Life Sciences

What Caris Life Sciences does

Caris Life Sciences, founded in 2008 and headquartered in Irving, Texas, is a publicly traded (Nasdaq: CAI) molecular profiling and AI-driven precision oncology company operating CLIA-certified, CAP-accredited, and ISO-certified laboratories. Its core technology stack combines whole exome sequencing (WES), whole transcriptome sequencing (WTS), and whole genome sequencing (WGS) across 23,000+ genes with proprietary AI and machine learning models. The platform underwrites both tissue-based assays (MI Cancer Seek, MI Profile, MI Tumor Seek Hybrid) and blood-based assays (Caris Assure, Caris ChromoSeq), as well as a suite of AI-driven clinical decision support tools including GPSai (tissue of origin), FOLFIRSTai (colorectal chemotherapy sequencing), MI Clarity (breast cancer recurrence risk), and the Molecular Tumor Board Report. MI Cancer Seek holds FDA approval with companion diagnostic indications, and the multi-cancer early detection test Caris Detect is being launched commercially through Everlywell.

The company operates a hybrid go-to-market model that combines a direct sales force targeting oncologists, cancer centers, and community oncology practices with a biopharma partnership channel. Revenue is generated primarily through usage-based molecular profiling services reimbursed by Medicare, Medicaid, and 100+ commercial health plans covering 200M+ lives, supplemented by biopharma discovery and licensing partnerships including a multi-year collaboration with Genentech worth up to $1.125 billion. The Precision Oncology Alliance, comprising 99 cancer centers including 45 NCI-designated centers, anchors clinical validation and data contribution, while the Right-In-Time clinical trial solution extends reach to 600+ community oncology sites, 2,200 investigators, and 71,000+ patients.

Financially, Caris generated $812 million in FY2025 revenue (97% YoY growth) and $216.2 million in Q1 2026 (79% YoY), with FY2026 guidance of $1.0–1.02 billion. Gross margin expanded from 47% to 65% in Q1 2026, and the company delivered its fourth consecutive quarter of positive Adjusted EBITDA and free cash flow, supported by $802 million in cash as of December 31, 2025. The company has raised approximately $1.7 billion since 2018 and completed a $494.1 million IPO in June 2025 at a $5.3 billion valuation, with subsequent debt capacity of up to $1.2 billion from Blue Owl Capital and Blackstone secured in April 2026.

Name

Caris Life Sciences

Legal name

Caris Science, Inc.

Website

https://carislifesciences.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Caris Life Sciences is a precision oncology company that combines whole exome, transcriptome, and genome sequencing with proprietary AI to deliver molecular profiling, therapy selection, and clinical trial matching for oncologists, cancer centers, biopharma, and payers.

Ownership category

akta.pro rank

Product category

Molecular Diagnostics

NAICS

Medical Laboratories (621511), Medical and Diagnostic Laboratories (62151), Research and Development in the Physical, Engineering, and Life Sciences (54171)

SIC

Services-Medical Laboratories (8071), In Vitro & In Vivo Diagnostic Substances (2835), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Bioinformatics, Multi-Omics Data Analysis & Interpretation Services (HLAGANAI)

akta.pro secondary industries

Molecular Diagnostics (PCR/qPCR, NGS-based assays) (HLAAALAA), Multiplex & High-Throughput Diagnostics Platforms (microarrays, digital PCR, lab automation-enabled assays) (HLAAALAL), Clinical & Translational Informatics (Clinical Data Integration/Real-World Data for R&D) (HLAGAJAF), Molecular Tumor Boards & Clinical Interpretation Services (HLAAANAD), Genomic & Multi-Omic Biomarkers (NGS panels, transcriptomics, proteomics, metabolomics) (HLAAAMAJ)

Keywords

• Molecular profiling services
• Precision oncology diagnostics
• Companion diagnostic assays
• Clinical genomic sequencing
• Liquid biopsy testing

Headquarters

HQ city

Irving

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Molecular Profiling Services: Primary revenue stream from comprehensive molecular profiling services including tissue-based testing (MI Cancer Seek, MI Profile) and blood-based testing (Caris Assure). Revenue driven by 85% growth in molecular profiling services in Q1 2026.
2. Biopharma Services: Discovery partnerships with biopharma companies including target discovery, clinical trial matching, and commercialization support. Revenue includes upfront payments, milestone payments, and potential royalties from partnerships like the Genentech collaboration worth up to $1.125 billion.
3. Multi-Cancer Early Detection (MCED) Testing: Future revenue stream from Caris Detect MCED blood test, expected to launch commercially. Partnership with Everlywell for consumer-focused distribution.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Caris Life Sciences provides comprehensive molecular profiling services for cancer patients, combining whole exome sequencing (WES), whole transcriptome sequencing (WTS), and whole genome sequencing (WGS) with proprietary AI-driven analytics. The company's offerings span the full cancer care continuum including tissue-based companion diagnostic assays (MI Cancer Seek, MI Profile), blood-based liquid biopsy tests (Caris Assure, Caris ChromoSeq), AI-powered diagnostic signatures (GPSai, FOLFIRSTai, MI Clarity), multi-cancer early detection (Caris Detect), and biopharma discovery services powered by a clinico-genomic database of over 790,000 matched patient records.

Product overview

Caris Life Sciences is a precision medicine company offering a comprehensive molecular profiling platform that supports the full cancer care continuum from early detection through treatment selection and monitoring. The core portfolio includes tissue-based tests (MI Cancer Seek, MI Profile, MI Tumor Seek Hybrid) and blood-based tests (Caris Assure, Caris ChromoSeq), all powered by Whole Exome and Whole Transcriptome Sequencing for 23,000+ genes. The company's AI capabilities are delivered through multiple proprietary tools including Caris GPSai (tissue of origin prediction), Caris FOLFIRSTai (colorectal cancer chemotherapy prediction), Caris MI Clarity (breast cancer recurrence risk), and the Caris Molecular Tumor Board platform. Caris Detect provides multi-cancer early detection from blood samples. The entire offering is underpinned by the Caris CODEai database containing over 790,000 matched patient records. The Caris Precision Oncology Alliance connects the company with 99 cancer centers for collaborative research. The company operates CLIA-certified, CAP-accredited, and ISO-certified laboratories.

Differentiator

Problem solved

Functional benefit

Brands

• MI Cancer Seek: FDA-approved tissue-based assay combining Whole Exome Sequencing and Whole Transcriptome Sequencing with companion diagnostic indications for solid tumor molecular profiling
• Caris Assure
• Caris Detect
• Caris ChromoSeq
• MI Profile
• Caris MI Clarity
• Caris GPSai
• Caris FOLFIRSTai
• CodeAI
• Caris Molecular Tumor Board

Products and services

• MI Cancer Seek FDA-approved tissue-based comprehensive molecular profiling assay combining whole exome sequencing and whole transcriptome sequencing to identify patients who may benefit from targeted therapies across solid tumors.
• MI Profile Comprehensive tissue-based molecular profiling delivering whole exome and whole transcriptome sequencing for 23,000+ genes along with protein analysis and AI-predictive algorithms to reveal a complete molecular blueprint for individualized treatment decisions.
• MI Tumor Seek Hybrid Next-generation sequencing fallback option performed when specimen requirements are not met for MI Cancer Seek, providing WES and WTS analysis.
• Caris Assure Blood-based WES and WTS assay using a novel circulating Nucleic Acid Sequencing (cNAS) approach for patients with solid malignant neoplasms where tissue is not feasible. Detects tumor-derived, incidental germline, and CHIP variants by analyzing 22,000 genes from peripheral whole blood.
• Caris ChromoSeq Ultra-deep whole genome sequencing and whole transcriptome assay for myeloid malignancies including acute myeloid leukemia, myelodysplastic syndromes, and myeloproliferative neoplasms, delivering up to eight times deeper sequencing than standard WGS.
• Caris Detect Multi-cancer early detection (MCED) blood test using AI analysis of whole genome sequencing trained on 50 billion molecular markers to detect molecular signals associated with early-stage cancers and return screening results.
• Caris MI Clarity AI-powered diagnostic test that predicts early and late distant recurrence risk in postmenopausal HR-positive/HER2-negative, node-negative early-stage breast cancer by analyzing digitized pathology slides and clinical data.
• Caris GPSai AI-powered cancer type similarity assessment that identifies tumor of origin by comparing patient molecular characteristics against the Caris database, useful for cancers of unknown primary and identifying potential misdiagnoses with 95.0% accuracy in non-CUP cases.
• Caris FOLFIRSTai AI-powered chemotherapy response predictor for metastatic colorectal cancer (mCRC) patients to gauge likelihood of benefit from first-line FOLFOX+BV followed by FOLFIRI+BV versus the reverse treatment sequence.
• Caris Molecular Tumor Board AI-powered clinical decision support platform synthesizing complex molecular profiling data, aligning biomarker results to therapeutic agents, and providing prioritized treatment recommendations including seven proprietary AI insights across multiple cancer types.
• Right-In-Time Clinical Trial Solution Clinical trial matching solution that integrates comprehensive molecular profiling with automated trial matching and streamlined site activation, covering 600+ community oncology sites and reducing time to enrollment to approximately two weeks.

Quantifiable outcome

• GPSai identified 3,857 cancer misdiagnoses since January 2024
• +11 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability8 records

Feature16 records

Partnerships

Nine partnerships are on record, tiered strategic, core and flagship.

• Multiple Cancer Research InstitutionsstrategicStrategic or Co-development Partner · 22 May 2026Research presented at ASCO 2026 represents collaborations with more than 60 institutions including Dana-Farber Cancer Institute, Mayo Clinic, and Memorial Sloan Kettering Cancer Center across the United States, Europe, Asia, and the Middle East.
• UCSF Helen Diller Family Comprehensive Cancer CentercoreStrategic or Co-development Partner · 17 April 2026Joined Caris Precision Oncology Alliance, a global network of leading cancer centers collaborating to advance precision oncology and biomarker-driven research. The alliance leverages Caris AI-driven molecular profiling platform and one of the industry's largest multimodal databases containing matched molecular and clinical outcomes data from hundreds of thousands of cancer patients.
• Sylvester Comprehensive Cancer CenterstrategicStrategic or Co-development Partner · 17 April 2026Sylvester Data Portal integrates clinical and genomic data from multiple sources including Caris Life Sciences, Foundation Medicine, NeoGenomics, and Guardant Health. Platform harmonizes data from over 30,000 tumor samples with nearly 46% of patients identifying as Hispanic, substantially more diverse than national averages.
• EverlywellcoreChannel Partner/ Reseller/ Distributor · 12 January 2026Partnership to launch Caris Detect MCED assay through Everlywell's digital health platform. Everlywell's platform spans 60 million people and partnerships with major US health plans. Collaboration aims to broaden access to early cancer detection beyond oncologists through consumer-focused distribution. Commercialization planned for first half of 2026.
• Providence Swedish Cancer InstitutecoreStrategic or Co-development Partner · 19 December 2025Providence Swedish Cancer Institute and Paul G. Allen Research Center joined Caris Precision Oncology Alliance. With this addition, the alliance comprised 99 cancer centers, academic institutions, research consortia and healthcare systems, including 45 NCI-designated cancer centers.
• Genentech (Roche)flagshipStrategic or Co-development Partner · 16 December 2025Multi-year collaboration and license agreement announced December 2025 to discover and validate novel oncology targets in solid tumors. Deal includes upfront payment of $25 million and potential milestone and royalty payments up to $1.125 billion. Executives called this the largest pharma deal in Caris history. Collaboration leverages Caris data and tissue-based discovery capabilities with Genentech therapeutics development expertise.
• UAMS Winthrop P. Rockefeller Cancer InstitutecoreStrategic or Co-development Partner · 2 December 2025University of Arkansas for Medical Sciences Winthrop P. Rockefeller Cancer Institute joined Caris Precision Oncology Alliance. The collaboration aims to leverage Caris AI-driven bioinformatics platform and multi-modal database to accelerate discovery and translate findings into personalized cancer care for patients.
• ECOG-ACRIN Cancer Research GroupstrategicStrategic or Co-development Partner · 2 December 2025Multi-year collaboration to advance AI-powered multimodal tools for breast cancer recurrence risk stratification. Initial findings from collaboration at SABCS demonstrated AI models integrating imaging, clinical, and molecular data outperform current methods in predicting breast cancer recurrence. Validation used samples from TAILORx biorepository and national clinical trials.
• Flatiron HealthstrategicStrategic or Co-development Partner · 1 December 2025Partnership utilizing joint Clinical-Molecular Database to identify genetic alterations linked to CDK4/6 inhibitor treatment resistance. Research presented at San Antonio Breast Cancer Symposium 2025.

Scale indicators32 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Foundation Medicine: Roche subsidiary and the leading comprehensive genomic profiling (CGP) provider in oncology. Directly competes with Caris's MI Cancer Seek and MI Profile in tissue-based NGS profiling and companion diagnostics, and serves the same oncologist/biopharma customer base.
• Guardant Health: Liquid biopsy leader with Guardant360 CDx and an expanding MCED program (Shield, Reveal). Competes head-to-head with Caris Assure and Caris Detect in blood-based oncology profiling and multi-cancer early detection.
• Tempus AI: AI-driven precision medicine platform offering NGS profiling (xT, xR), AI-derived insights and a multi-modal data library. Directly comparable to Caris's WES/WTS profiling, AI signatures and CODEai database.
• NeoGenomics: Oncology-focused clinical laboratory providing comprehensive molecular profiling (including NGS) and hematology/pathology services. Overlaps with Caris on tissue profiling, hematologic malignancy testing (Caris ChromoSeq) and biopharma services.
• Natera: Cell-free DNA testing company best known for Signatera MRD test in oncology. Competes in the blood-based oncology profiling market alongside Caris Assure and increasingly in tumor-informed liquid biopsy applications.

Broad incumbents

• Exact Sciences: Large cancer diagnostics franchise (Cologuard, Oncotype DX, Precise Oncology Solutions through the Thrive Earlier Detection / Ashion acquisition). Competes in adjacent cancer screening and therapy-selection markets and is also developing MCED capabilities that overlap with Caris Detect.
• Veracyte: Molecular diagnostics company operating across oncology (Decipher Prostate, Afirma thyroid) and pulmonary indications. Overlaps with Caris on AI-driven molecular testing and biopharma CDx development.
• Myriad Genetics: Established molecular diagnostics company with hereditary cancer (BRACAnalysis), tumor profiling (myChoice HRD) and growing liquid biopsy (Precise Tumor). Competes in oncology molecular profiling and hereditary cancer testing alongside Caris.

Emerging players

• Personalis: Smaller oncology genomics company offering NeXT Personal (tumor-informed MRD) and ImmunoID Next for immune profiling. Comparable to Caris's WES/WTS-based profiling with a focus on immuno-oncology biomarker content.
• Burning Rock Biotech: China-based oncology NGS company with a growing US presence offering comprehensive genomic profiling and companion diagnostic services. Overlaps with Caris in tissue-based CGP and biopharma CDx, particularly for multi-region oncology trials.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/carisls
• Facebookfacebook.com/CarisLifeSciences
• LinkedInlinkedin.com/company/caris-life-sciences

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds6 records

Investors23 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caris Life Sciences