Caris Life Sciences Inc(CAI) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $216.8 million, an increase of 113.4% compared to $101.6 million in Q3 2024[8] - Revenue from molecular profiling services reached $207.6 million, reflecting a growth of 121.3% year-over-year[9] - Net income for Q3 2025 was $24.3 million, compared to a net loss of $(67.7) million in Q3 2024, marking a 135.9% improvement[12] - Adjusted EBITDA for the quarter was $51.2 million, a significant increase of 212.2% from a loss of $(45.6) million in the previous year[13] - The company raised its full-year 2025 revenue guidance to a range of $720 million to $730 million, indicating a year-over-year growth of 75% to 77%[14] - Total revenue for the three months ended September 30, 2025, was $216,833,000, a 113% increase from $101,620,000 in the same period of 2024[28] - Molecular profiling services revenue reached $207,587,000, up from $93,803,000, representing a 121% year-over-year growth[28] - Net income for the three months ended September 30, 2025, was $24,325,000, compared to a net loss of $67,729,000 in the same period of 2024[28] Operational Metrics - Total clinical case volume increased by 18.2%, totaling 50,763 cases in Q3 2025 compared to 42,956 cases in Q3 2024[5] - The average selling price (ASP) for total clinical services rose by 87.2% to $4,089 in Q3 2025, up from $2,184 in Q3 2024[7] - The company completed over 959,000 total profiles, including more than 577,000 Whole Exome and 628,000 Whole Transcriptome profiles by September 30, 2025[6] Cash Flow and Liquidity - Positive net cash flow from operating activities was $62.4 million, a 189.9% improvement from $(69.4) million in the prior year[13] - Cash, cash equivalents, and restricted cash increased to $754,739,000 as of September 30, 2025, from $65,442,000 at the end of 2024[30] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $38,375, compared to a net cash used of $206,278 in the same period of 2024[33] - Free cash flow for the nine months ended September 30, 2025, was $27,205, an improvement from a negative free cash flow of $212,432 in the same period of 2024[36] - The company raised $528,459 from its initial public offering, contributing to a net cash provided by financing activities of $661,590 for the nine months ended September 30, 2025[33] Balance Sheet - Total assets as of September 30, 2025, amounted to $984,571,000, significantly higher than $343,734,000 as of December 31, 2024[30] - Current assets increased to $854,245,000 as of September 30, 2025, compared to $215,729,000 at the end of 2024[30] - Total liabilities decreased to $506,207,000 as of September 30, 2025, down from $620,921,000 as of December 31, 2024[30] - Total shareholders' equity improved to $478,364,000 as of September 30, 2025, from a deficit of $2,498,838,000 at the end of 2024[31] - The company’s accumulated deficit as of September 30, 2025, was $2,630,693,000, compared to $2,472,300,000 at the end of 2024[31] Other Financial Metrics - The company reported a basic net income per share of $0.09 for the three months ended September 30, 2025, compared to a loss of $2.59 per share in the same period of 2024[28] - Net loss for the nine months ended September 30, 2025, was $150,045, a decrease from a loss of $244,943 in the same period of 2024, representing a 38.6% improvement[33] - Adjusted EBITDA for the nine months ended September 30, 2025, was $31,665, compared to a loss of $166,564 in the same period of 2024, indicating a significant turnaround[35] - Changes in fair value of financial instruments resulted in a gain of $52,285 for the nine months ended September 30, 2025, compared to a loss of $6,067 in the same period of 2024[35] - The company reported a net cash used in investing activities of $11,170 for the nine months ended September 30, 2025, compared to a net cash provided of $55,222 in the same period of 2024[33] - The company experienced a significant increase in accounts receivable, which rose to $61,232 for the nine months ended September 30, 2025, compared to a decrease of $15,009 in the same period of 2024[33] - Stock-based compensation expense for the nine months ended September 30, 2025, was $56,639, significantly higher than $13,666 in the same period of 2024[33]