Caris Life Sciences, Inc. · NASDAQ:CAI
Caris Life Sciences — Q2 2025 Earnings Presentation
17 slides from Caris Life Sciences's earnings presentation, Aug 12, 2025
Slide 1: Where Molecular Science Meets Artificial Intelligence
Where Molecular Science Meets Artificial Intelligence Q2 2025 Earnings Call August 12, 2025
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer Forward-Looking Statements This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements other than statements of historical facts contained in t
Slide 3: A Universal Precision Medicine Platform
A Universal Precision Medicine Platform WES/WTS Technology Unlocks Precision Medicine Across The Entire Cancer Care Continuum CANCER CARE CONTINUUM MINIMAL EARLY THERAPY RESIDUAL MONITORING DETECTION SELECTION DISEASE Caris Assure Is A “Pipeline In A Product”… The Same Assay Delivers Precision Medic
Slide 4: Strong Revenue Performance Across Molecular Profiling Services and Pharma R&D Services
Strong Revenue Performance Across Molecular Profiling Services and Pharma R&D Services Total Revenue ($ in millions) Pharma R&D Services Molecular Profiling Services $181.4 $18.5 49% 81% Total revenue increased to $181.4mm, an increase of 81% YoY $100.0 Molecular Profiling Services revenue increased
Slide 5: Robust Momentum Across Molecular Profiling Services
Robust Momentum Across Molecular Profiling Services Clinical Revenue Clinical Volume (1) ($ in millions) $162.9 50,000 22% 41,000 86% $87.7 Q2 2024 Q2 2025 Clinical ASP $3,256 52% $2,138 Q2 2024 Q2 2025 Q2 2024 Q2 2025 (1) Volume rounded to nearest 100. ©2025 Caris Life Sciences 4
Slide 6: Q2 2025 Performance Highlights
Q2 2025 Performance Highlights ▪ Strong revenue growth of 81% - from $100MM to $181MM ▪ Consistent volume growth of 22% - completing 50,032 clinical cases ▪ Clinical ASP improvement of 52% - from $2,138 to $3,256 ▪ Dataset surpassed 900,000+ genomic profiles and 600,000+ matched profiles including o
Slide 7: Technology Differentiation and Commercial Execution Driving Consistent Clinical Volume Growth
Technology Differentiation and Commercial Execution Driving Consistent Clinical Volume Growth Performance Drivers Total Clinical Volume 28% CAGR CY’20-CY’24 (In Thousands) ▪ Strong performance across 163,000 therapy selection 26% YoY Growth H1’ 25 ▪ Comprehensive WES/WTS 129,000 technology resonatin
Slide 8: One Of The Largest & Most Comprehensive Clinico-Genomic Datasets
One Of The Largest & Most Comprehensive Clinico-Genomic Datasets Our Clinico-Genomic Dataset Provides Strategic Capability For Internal R&D, Biopharma & Collaborative Research 900,000+ Molecular Dataset of Comprehensive Tumor Patient Significant “scale” in data Profiles, Including Scaled cohorts for
Slide 9: POA Membership Growth
POA Membership Growth Progress Towards Goal Of 100 Sites POA Member Growth: 2017 – 2025 1,100+ Aggregate Caris Publications(1) POA NCI-Designated Cancer Centers Peer-Reviewed Manuscripts 45 46 Abstracts, Posters & Presentations 34 42 96 97 1,122 27 90 20 1,013 413 2020A 2021A 2022A 2023A 2024A 2025
Slide 10: Landmark Publication – Caris Assure Platform Study
Landmark Publication – Caris Assure Platform Study 96.8% Scientific Reports Therapy selection PPV (concordance with tissue assay) study demonstrates the accuracy and clinical utility of the 33.4 Caris Assure blood- MRD hazard ratio based biopsy assay (p < 0.005) across the cancer continuum 83.1% - 9
Slide 11: Additional Key Studies/Publications
Additional Key Studies/Publications Demonstrates the power of Demonstrates the power of multi-omics database to machine learning combined with confirm approximately 1 in Caris's image and molecular every 4 NSCLC patients (23%) database to develop AI signatures have TI-CH, with a 30% higher that pred
Slide 12: Caris Product Development Status
Caris Product Development Status Development Stage Cohort Assay Validation Reimbursement Launch Collection Development Publication Caris Assure √ Minimal Residual Disease – Adjuvant CRC WES/WTS √ √ √ Therapeutic Monitoring WES/WTS √ √ √ Early Detection – Breast WES/WTS √ √ √ Product Line Completion
Slide 13: Q2 2025 Financial Overview
Q2 2025 Financial Overview Total Revenue ($ in millions) ($ in millions) Q2 2024 Q2 2025 YoY Gross Margin(1) 37.5% 62.7% 25.2% $181.4 Pharma R&D Services $18.5 +49.1% S&M $38.7 $42.3 $3.5 Molecular Profiling Services +81.3% G&A $41.1 $64.4 $23.3 R&D $24.8 $25.0 $0.3 $100.0 Total OpEx $104.6 $131.7 $
Slide 14: ASP Benefits From Ongoing Payor Contracting
ASP Benefits From Ongoing Payor Contracting MI Profile ASP (True-up) $3,379 $179 • Q2 2025 MI Profile ASP of $3,379 increased 53.1% YoY $993 $2,207 • True-ups from prior period collections added ~$179 to ASP • Strength driven by recent FDA approval of MI Cancer Seek (Medicare FFS pricing increased f
Slide 15: Trend of Gross Margin Expansion
Trend of Gross Margin Expansion Gross Margin YoY: +2,514 bps Sequential: 62.7% +1,548 bps • Q2 2025 gross margin of 62.7% increased 2,514 bps YoY 47.2% • Gross margins benefited from higher 37.5% clinical ASP and growth in higher-margin Pharma R&D service business • Year-over-year reduction in cost
Slide 16: Initiating CY 2025 Financial Guidance
Initiating CY 2025 Financial Guidance Guidance Total Revenue $675 – $685MM Revenue Growth 64 - 66% YoY Clinical Therapy Selection Volume 19 - 21% YoY ©2025 Caris Life Sciences 15
Slide 17: Caris was founded to make precision medicine a reality
Caris was founded to make precision medicine a reality. We aim to fundamentally change the way disease is characterized and treated. ©2025 Caris Life Sciences 16