Caris Life Sciences, Inc.
CAI · Services-Medical Laboratories · 282.7M shares · EDGAR filings ↗
Reference price $16.15 · est. market cap ~$4.6B — last insider purchase, 2026-05-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B64Molecular-diagnostics company (oncology) — operating-profitable with positive free cash flow, near net breakeven.
Strengths
- Operating profit, positive FCF — operating margin 6% (86th), FCF $67M (79th), FCF margin 8%
- Growing, strong liquidity — current ratio 7.9 (77th)
Risks
- Slight net loss — net margin -8%
- Leverage — D/E 0.66 (58th)
- Reimbursement/competition risk — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Net lossNet loss (net margin -8.4%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, ARK Investment Management LLC
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$501,426, last 6mo) Form 4 ↗
- Strong balance sheetStrong balance sheet — $799M cash & investments
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
- Revenue declineRevenue -26.2% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
5.6%
Net margin
-8.4%
Return on equity
-11.8%
Return on assets
-6.0%
ROIC
3.7%
Revenue growth (QoQ)
-26.2%
Debt / equity
0.7×
Net debt / EBITDA
-6.2×
Current ratio
7.8×
Free cash flow
$67M
EBITDA
$68M
Tangible book value
$558M
Cash & investments
$799M
Stock comp / revenue
8.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | POSTE GEORGE | Grant | 1.6K | $15.62 |
| 2026-05-29 | Knowles Jonathan Kenneth Charles | Grant | 1.6K | $15.62 |
| 2026-05-15 | Spetzler David Baxley | Tax withheld | 14K | $15.25 |
| 2026-05-15 | Denton John Russel | Tax withheld | 6.0K | $15.25 |
| 2026-05-15 | HALBERT DAVID D | Tax withheld | 41K | $15.25 |
| 2026-05-15 | Power Luke Thomas | Tax withheld | 9.8K | $15.25 |
| 2026-05-15 | Brille Brian J | Tax withheld | 14K | $15.25 |
| 2026-05-11 | Vacirca Jeff L | Buy | 31K | $16.15 |
| 2026-03-06 | Power Luke Thomas | Grant | 64K | — |
| 2026-03-06 | Brille Brian J | Grant | 83K | — |
| 2026-03-06 | Spetzler David Baxley | Grant | 83K | — |
| 2026-03-06 | Denton John Russel | Grant | 64K | — |
| 2026-03-06 | HALBERT DAVID D | Grant | 320K | — |
| 2026-02-26 | Fredrickson David Paul | Grant | 2.5K | $20.06 |
| 2026-02-26 | Minor Lloyd | Grant | 2.5K | $20.06 |
| 2026-02-26 | Vacirca Jeff L | Grant | 2.5K | $20.06 |
| 2026-02-26 | PHILLIPS T DANNY | Grant | 3.7K | $20.06 |
| 2026-02-26 | CASTLEMAN PETER M | Grant | 5.5K | $20.06 |
| 2026-02-26 | HALBERT JON | Grant | 2.5K | $20.06 |
| 2026-01-09 | CASTLEMAN PETER M | Option exercise | 2.5K | $18.60 |
| 2025-12-11 | Brille Brian J | Gift | 650 | — |
| 2025-12-11 | Power Luke Thomas | Option exercise | 25K | $2.44 |
| 2025-12-11 | Power Luke Thomas | Option exercise | 38K | $2.44 |
| 2025-12-11 | Power Luke Thomas | Sell | 61K | $26.56 |
| 2025-12-11 | Power Luke Thomas | Sell | 1.4K | $27.16 |
| 2025-12-10 | Brille Brian J | Gift | 650 | — |
| 2025-11-07 | Spetzler David Baxley | Buy | 400 | $23.85 |
| 2025-11-07 | Denton John Russel | Buy | 4.2K | $24.09 |
| 2025-09-11 | PHILLIPS T DANNY | Option exercise | 100K | $2.44 |
| 2025-08-11 | POSTE GEORGE | Tax withheld | 91K | $29.75 |
| 2025-08-11 | POSTE GEORGE | Option exercise | 125K | $2.44 |
| 2025-08-11 | POSTE GEORGE | Tax withheld | 48K | $29.75 |
| 2025-08-11 | Spetzler David Baxley | Tax withheld | 64K | $29.75 |
| 2025-08-11 | HALBERT DAVID D | Tax withheld | 142K | $29.75 |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Option exercise | 90K | — |
| 2025-06-20 | Brille Brian J | Buy | 30K | $21.00 |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Conversion | 1.7M | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Conversion | 3.9M | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Conversion | 3.5M | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Conversion | 479K | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Conversion | 532K | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Conversion | 10.1M | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Option exercise | 2.3M | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Option exercise | 119K | — |
| 2025-06-20 | TSSP Sub-Fund HoldCo LLC | Option exercise | 1.7M | — |
| 2025-06-20 | Spetzler David Baxley | Option exercise | 75K | $2.44 |
| 2025-06-20 | Spetzler David Baxley | Tax withheld | 35K | $27.25 |
| 2025-06-20 | HALBERT JON | Conversion | 1.2M | — |
| 2025-06-20 | J H Whitney VI L P | Conversion | 12.5M | — |
| 2025-06-20 | Denton John Russel | Buy | 7.5K | $21.00 |
| 2025-06-20 | HALBERT DAVID D | Conversion | 104.8M | — |
| 2025-06-20 | ADAPT I Ltd. | Conversion | 3.5M | — |
| 2025-06-20 | CASTLEMAN PETER M | Conversion | 10.2M | — |
| 2025-06-18 | Brille Brian J | Grant | 132K | — |
| 2025-06-18 | HALBERT DAVID D | Grant | 414K | — |
| 2025-06-18 | Power Luke Thomas | Grant | 99K | — |
| 2025-06-18 | Denton John Russel | Grant | 99K | — |
| 2025-06-18 | Spetzler David Baxley | Grant | 132K | — |
| 2025-03-25 | HALBERT DAVID D | Grant | 361K | — |
| 2025-03-03 | Spetzler David Baxley | Disposition | 701K | $18.60 |
| 2025-03-03 | Denton John Russel | Disposition | 238K | $18.60 |
| 2025-02-27 | HALBERT JON | Grant | 16K | — |
| 2025-02-27 | CASTLEMAN PETER M | Grant | 16K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-05 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-04-02 | Material agreement1.02Debt obligation | filing ↗ |
| 2026-02-26 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-12 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-10-30 | 3.035.03Exhibits | filing ↗ |
| 2025-08-12 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-05 | 2026-06-04 | 0002019410-26-000046 ↗ |
| 10-Q | 2026-05-08 | 2026-03-31 | 0002019410-26-000044 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0002019410-26-000040 ↗ |
| 8-K | 2026-04-02 | 2026-04-01 | 0002019410-26-000019 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0002019410-26-000016 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0002019410-26-000011 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0002019410-26-000005 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0002019410-25-000028 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0002019410-25-000026 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0002019410-25-000020 ↗ |
| 8-K | 2025-08-12 | 2025-08-12 | 0002019410-25-000011 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0002019410-25-000012 ↗ |