Caris reported fourth-quarter EPS of $0.28 versus a consensus loss of $0.03, with revenue of $292.9 million up 125% year-over-year. Molecular profiling services revenue reached $282.1 million, a 199% increase driven by a 20% rise in clinical case volume to approximately 52,700 cases. Gross margin improved by 2,000 basis points to 75%, and Adjusted EBITDA swung to $106.1 million from a $23.0 million loss.

The interim readout from the Achieve 1 study involving ~1,505 undiagnosed patient samples demonstrated Caris Detect’s superior sensitivity and specificity compared with traditional early detection methods. These results support the planned H1 2026 launch of the multi-cancer early detection test, leveraging Caris’s database of over one million processed cases and more than 50 billion molecular markers.

For fiscal 2026, Caris forecasts revenue of $1.00–$1.02 billion versus a consensus of $1.198 billion, with operating expenses of $590–$595 million to fund commercial expansion and increased trial activity. Management expects to remain positive on free cash flow and Adjusted EBITDA while advancing its pipeline and preparing to launch Caris Detect as a significant growth opportunity.