Is Caris Life Sciences profitable in 2026?

Caris has not disclosed net profitability; it reported TTM revenue of about $907M as of July 20, 2026, per Pitchbook, with FY2026 guidance of $1.0 to $1.02B (23-26% growth), down sharply from 97% growth in FY2025, signaling a maturing but still-scaling business.

Could AI replace Caris Life Sciences?

No. Caris's core business is regulated wet-lab genomic sequencing requiring FDA clearance and CLIA-certified labs, which AI cannot replicate. Caris uses AI internally (MI Clarity, Caris Detect) as a tool, not a replacement, per its Q1 2026 results released May 7, 2026.

Who owns Caris Life Sciences?

Caris is a public company on Nasdaq (ticker CAI), with a dual NYSE Texas listing added June 16, 2026. Founder David Dean Halbert remains Chairman and CEO. It IPO'd June 18, 2025, raising about $494M at $21 per share.

Who is Caris Life Sciences' biggest competitor?

Its main rivals in precision oncology are Foundation Medicine (Roche), Guardant Health, Exact Sciences, and Tempus AI, which announced a roughly $1.5B deal to acquire Personalis in July 2026, consolidating the multi-cancer detection space Caris competes in.

Why has Caris Life Sciences stock fallen in 2026?

Caris stock is down about 63% from its 52-week high of $42.50 as of July 21, 2026, driven by growth deceleration from 97% in FY2025 to a guided 23-26% for FY2026, plus post-IPO lockup expiration selling pressure in late 2025.

What is Caris Detect and when did it launch?

Caris Detect is a multi-cancer early detection (MCED) blood test that Caris commercially launched in July 2026, entering a space where GRAIL and Exact Sciences are established incumbents, per the company's July 1, 2026 announcement.

United States · United States

Caris

Caris runs genomic and molecular profiling tests that guide cancer treatment decisions.

Defensible for now

Assessed 29 July 2026 · Evidence as of 29 July 2026

Real protection, with named pressure against it.

On the recordSince 29 July 2026 · Checkable from August 5, 2026 · Every call on the record Checkpoint: Q2 2026 earnings report

The call

Caris still grows fast and holds regulatory and data advantages, but growth is slowing sharply as Roche, Guardant, and a Tempus-Personalis combo crowd the same cancer diagnostics market.

Caris analyzes tumor DNA and other patient samples to guide cancer treatment decisions. It is hard to copy because it has government approval, owns years of patient data that competitors lack, and has locked-in insurance payment codes. However, bigger rivals like Roche and Tempus are buying each other to get stronger, Caris's growth is dropping fast (from 97 percent last year to 23 to 26 percent next year), and its stock price has been cut in half. The company will survive, but the real question is whether Tempus and Roche can steal major hospital contracts away after their merger closes in late 2026 or early 2027, and whether Caris's new blood-test product can sell well enough to reignite growth.

Why

AI pressure: Tempus AI (absorbing Personalis's MRD tech). Tempus already sells AI-driven genomic tests to oncologists and will fold in Personalis's MRD platform to chase the same cancer-center contracts. Could AI do the core job? Unlikely.

Bigger players: Roche / Foundation Medicine. Roche's Foundation Medicine already sells FDA-approved comprehensive genomic profiling to the same hospital networks Caris depends on. Could a giant copy it? Probably.

What protects it. FDA/CLIA-cleared tests, a clinico-genomic database built from hundreds of thousands of patient records, and locked MolDX reimbursement codes make switching costly for hospitals and payers.

What would change this call

Caris reports Q2 2026 revenue growth rate at its Aug 5, 2026 earnings call. Shows whether the drop from 97% to 23-26% guided growth is stabilizing or worsening.
Tempus AI's $1.5B Personalis acquisition closes (expected late 2026/early 2027). A consolidated Tempus could pursue the same major cancer-center contracts Caris relies on.
NY DOH decision on Assure authorization for Caris's blood-test platform. Denial or delay would block a new revenue stream Caris is counting on.

Key numbers

TTM revenue about $907M (2026-07-20)
Q1 2026 revenue $216M, up 79% y/y (2026-05-14)
FY2025 growth 97% y/y, FY2026 guided to 23-26% (2026-02-26)

Named risks

Revenue growth decelerating sharply from 97% (FY2025) to guided 23-26% (FY2026). Severity: high
Stock down 63% from 52-week high of $42.50 as of July 21, 2026. Severity: medium
Competitive consolidation via Tempus AI's ~$1.5B Personalis acquisition, closing late 2026/early 2027. Severity: medium
Pending and uncertain NY State DOH authorization for Caris Assure blood test, submitted May 2026. Severity: medium
Unresolved patent litigation history with Foundation Medicine over molecular-profiling IP. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Tempus AI	gaining on	Announced ~$1.5B deal to acquire Personalis in July 2026, consolidating MRD/precision oncology capability
Foundation Medicine (Roche)	contesting	Long-running IP litigation with multiple Inter Partes Review proceedings and Federal Circuit appeals
Guardant Health	contesting	Direct peer in liquid biopsy and molecular profiling as of 2026 competitive landscape
GRAIL and Exact Sciences	contesting	Incumbents in multi-cancer early detection testing as Caris Detect launched July 2026

Questions people ask

Is Caris Life Sciences profitable in 2026?: Caris has not disclosed net profitability; it reported TTM revenue of about $907M as of July 20, 2026, per Pitchbook, with FY2026 guidance of $1.0 to $1.02B (23-26% growth), down sharply from 97% growth in FY2025, signaling a maturing but still-scaling business.
Could AI replace Caris Life Sciences?: No. Caris's core business is regulated wet-lab genomic sequencing requiring FDA clearance and CLIA-certified labs, which AI cannot replicate. Caris uses AI internally (MI Clarity, Caris Detect) as a tool, not a replacement, per its Q1 2026 results released May 7, 2026.
Who owns Caris Life Sciences?: Caris is a public company on Nasdaq (ticker CAI), with a dual NYSE Texas listing added June 16, 2026. Founder David Dean Halbert remains Chairman and CEO. It IPO'd June 18, 2025, raising about $494M at $21 per share.
Who is Caris Life Sciences' biggest competitor?: Its main rivals in precision oncology are Foundation Medicine (Roche), Guardant Health, Exact Sciences, and Tempus AI, which announced a roughly $1.5B deal to acquire Personalis in July 2026, consolidating the multi-cancer detection space Caris competes in.
Why has Caris Life Sciences stock fallen in 2026?: Caris stock is down about 63% from its 52-week high of $42.50 as of July 21, 2026, driven by growth deceleration from 97% in FY2025 to a guided 23-26% for FY2026, plus post-IPO lockup expiration selling pressure in late 2025.
What is Caris Detect and when did it launch?: Caris Detect is a multi-cancer early detection (MCED) blood test that Caris commercially launched in July 2026, entering a space where GRAIL and Exact Sciences are established incumbents, per the company's July 1, 2026 announcement.

Timeline

2026-07-01Caris commercially launches Caris Detect, a multi-cancer early detection blood test
2026-07Tempus AI announces definitive agreement to acquire Personalis for about $1.5B
2026-06-16Caris adds dual listing on NYSE Texas alongside Nasdaq CAI
2026-05-14Caris reports Q1 2026 revenue of $216M, up 79% year over year
2026-05Caris submits Caris Assure blood test for New York State DOH authorization
2026-02-26Caris reports FY2025 revenue growth of 97% and guides FY2026 to $1.0-1.02B
2025-11-05Caris reports Q3 2025 revenue growth of 113% year over year
2025-06-18Caris IPOs on Nasdaq, raising about $494M at $21 per share
2024-11FDA approves MI Cancer Seek as multi-cancer companion diagnostic
2021-05-11Caris raises $830M growth round at $7.83B post-money valuation

Revision history

29 July 2026

First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.

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