• Mr. Halbert is a proven leader with over 40 years of experience across the energy, financial, and healthcare industries.
• He founded AdvancePCS® in 1987, a pharmacy benefits management company, serving as Chairman and CEO until its sale to CareMark® in 2004 for $7.5 billion. Under his leadership, AdvancePCS grew into a publicly traded, Fortune® 250 corporation with over $15 billion in annual revenue and returned 31 times its initial public offering (IPO) value.
• He also grew Caris Diagnostics, which was sold to Miraca Life Sciences® in 2011 for $725 million.
• Mr. Halbert acquired Molecular Profiling Institute (MPI) in 2008, which became Caris Life Sciences.

• Mr. Power joined Caris Life Sciences in 2011 and has progressively held positions with increasing responsibility.
• He oversees finance, accounting, and audit operations, and provides strategic financial guidance for corporate operations and functions.
• Prior to joining Caris, Mr. Power worked within the PricewaterhouseCoopers (PWC) assurance practice in Ireland, the United States, and the United Kingdom.
• He is a Certified Public Accountant (CPA) and a fellow of Chartered Accountants Ireland, holding a degree in finance and accounting from Waterford Institute of Technology.

• Dr. Spetzler holds a PhD in mathematics and molecular cellular biology.

• Dr. Sledge serves as the Executive Vice President and Chief Medical Officer for Caris Life Sciences.

• Mr. Harmon serves as the Chief Operations Officer for Caris Life Sciences.

1. Competition and Market Acceptance of its Technology: Caris Life Sciences operates in the highly competitive and rapidly evolving field of precision medicine and molecular diagnostics. The company's success depends on the market acceptance and adoption of its proprietary molecular profiling platform and AI-driven solutions by healthcare providers, pharmaceutical companies, and patients. Intense competition from other diagnostic companies, large pharmaceutical firms, and academic institutions developing similar technologies could limit its growth and market share.
2. Regulatory and Reimbursement Risks: The diagnostic and precision medicine industry is subject to extensive government regulation, including those from the FDA in the United States. Changes in regulatory requirements, delays in obtaining necessary approvals for new tests or platforms, or adverse regulatory decisions could significantly impact Caris Life Sciences' operations and product launches. Furthermore, securing adequate reimbursement from insurance providers and government programs for its advanced diagnostic tests is crucial for commercial success. Unfavorable changes in reimbursement policies or pricing pressures could negatively affect revenue and profitability.
3. Reliance on Technology and Data Security: As an AI TechBio company, Caris Life Sciences heavily relies on its sophisticated technology, proprietary algorithms, and extensive genomic and molecular data. Risks include the potential for technological failures, cybersecurity breaches compromising sensitive patient data, or intellectual property infringement. Maintaining the integrity, security, and proprietary nature of its data and technology is paramount to its business model and competitive advantage.

Caris Life Sciences (NASDAQ: CAI) is poised for substantial revenue growth over the next two to three years, driven by several key initiatives and market trends. The company's forward guidance and recent earnings commentaries highlight a robust strategy focused on expanding its core services, launching innovative new products, and enhancing its commercial reach.

Here are the primary expected drivers of future revenue growth for Caris Life Sciences:

1. Expansion of Molecular Profiling Services: Caris Life Sciences anticipates continued strong growth in its molecular profiling services, particularly within its therapy selection segment. The company projects molecular profiling revenue to grow approximately 21% to 22% in 2026, or an estimated 26% to 28% excluding prior year adjustments. This growth is expected to be fueled by an approximate 20% year-over-year increase in clinical therapy selection volume. Additionally, improvements in average sales prices (ASPs) for both tissue and blood-based testing platforms are contributing to this expansion.

2. Launch and Adoption of Caris Detect: A significant driver of future revenue is the planned launch of Caris Detect, a multi-cancer early detection (MCED) test, in the first half of 2026. This new product is considered a major market opportunity with the potential to significantly impact cancer mortality rates. Interim results from the ACHIEVE-1 study support its upcoming launch, indicating promising clinical performance.

3. Aggressive Commercial Expansion and Sales Force Growth: To support the uptake of its existing and new products, Caris Life Sciences plans to aggressively invest in expanding its commercial organization. This includes plans to increase its sales force by approximately 20% to 25% to around 300 representatives in 2026. This strategic investment aims to drive greater adoption and market penetration of its comprehensive molecular profiling platform.

4. Growth in Pharmaceutical Research and Development (Pharma R&D) Services: While molecular profiling remains the core, the company also expects a recovery and growth in its pharmaceutical research and development services. For 2026, Pharma R&D services revenue is expected to be in the range of $75 million to $85 million. Collaborations, such as the announced partnership with Genentech for novel therapeutic target discovery, underscore the potential in this segment.

5. Leveraging AI TechBio Platform and Data Set: Caris Life Sciences positions itself as a next-generation AI TechBio company. Its extensive molecular data set, which has surpassed 1 million genomic profiles, serves as a valuable clinical genomic resource. This advanced platform, combining whole exome and whole transcriptome sequencing with AI and machine learning, is expected to attract more customers and strategic partnerships, fueling further growth in both its diagnostic and R&D offerings.

Share Issuance

• Caris Life Sciences completed its Initial Public Offering (IPO) on June 18, 2025, listing on the Nasdaq Global Select Market under the ticker symbol "CAI".
• The company priced its IPO at $21.00 per share, selling 23,529,412 shares of common stock and raising over $494.1 million.
• Caris Life Sciences granted the underwriters a 30-day option to purchase up to an additional 3,529,411 shares of common stock at the initial public offering price.

Inbound Investments

• In May 2021, Caris Life Sciences received an $830 million growth equity investment, which gave the company a post-money valuation of $7.83 billion.
• This 2021 investment round was led by Sixth Street, with significant participation from T. Rowe Price Associates Inc., Silver Lake, Fidelity Management & Research Co., and Coatue Management LLC.
• In April 2025, Caris Life Sciences closed a $168 million growth capital funding round, led by Braidwell LP, with participation from new investors Perceptive Advisors, Woodline, and Ghisallo, among others.

Capital Expenditures

• For the full year 2026, Caris Life Sciences anticipates capital expenditures to increase to $60 million.
• The primary focus of these expected capital expenditures in 2026 is for early detection capacity, including the purchase of additional NovaSeq X machines for their new Assure assay and early detection initiatives.
• As of December 31, 2025, Caris Life Sciences had over $800 million in cash on hand, providing strategic flexibility for ongoing investments in its technology platform for new products and the development of new channels like Multi-Cancer Early Detection (MCED).