Caris Life Sciences, Inc. (CAI) Cash Flow Statement
Where CAI’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $83.2M
- Capital expenditures
- $16.3M 2.0% of revenue
- Free cash flow
- $66.9M 8.2% margin
- Returned to shareholders
- $113,000 0% of free cash flow
- Change in cash
- $732.0M cash at year-end $800.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CAI operating cash flow, capex and free cash flow
CAI cash flow trends, 2015–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $147.4M2015 | $83.2M2025 | −6.2%/yr | |
| Capital expenditures | $389.4M2015 | $16.3M2025 | −29.7%/yr | |
| Free cash flow | −$242.0M2015 | $66.9M2025 | — | |
| Free cash flow margin | −96.9%2015 | 8.2%2025 | +105.2 pts | |
| Operating cash flow / net income | 5.492015 | 9.992020 | +4.50 | |
| Stock-based compensation | $1.9M2015 | $70.0M2025 | +49.2%/yr | |
| Dividends paid | $3.3M2018 | $17.7M2020 | +133.1%/yr | |
| Share buybacks (net) | $13.0M2015 | $113,0002025 | −41.0%/yr | |
| Capex / revenue | 156.0%2015 | 2.0%2025 | −154.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CAI cash flow by activity
CAI net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
CAI cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$68.1M | −$281.9M | −$341.4M | −$320.8M | $27.7M | $31.0M | $78.6M | $72.1M | $6.0M | $26.8M |
| Depreciation & amortization | $22.6M | $48.9M | $49.0M | $48.3M | $110.7M | $113.9M | $123.5M | $113.3M | $106.7M | $114.2M |
| Stock-based compensation | $70.0M | $18.6M | $15.2M | $22.9M | $1.8M | $2.8M | $2.9M | $2.1M | $1.7M | $1.9M |
| Change in working capital | −$33.1M | −$29.1M | −$7.1M | −$22.3M | −$317.3M | $417.2M | −$85.9M | −$90.7M | $44.9M | $30.6M |
| Other non-cash items | $91.7M | −$1.8M | $8.2M | −$13.8M | $454.2M | −$310.9M | $60.7M | $58.5M | −$30.1M | −$26.2M |
| Cash from operating activities | $83.2M | −$245.2M | −$276.1M | −$285.7M | $277.0M | $254.0M | $179.8M | $155.2M | $129.3M | $147.4M |
| Investing activities | ||||||||||
| Capital expenditures | −$16.3M | −$8.4M | −$22.3M | −$42.3M | −$219.4M | −$319.1M | −$812.8M | −$502.2M | −$251.2M | −$389.4M |
| Investments (net) | $0 | $52.9M | $214.8M | −$283.0M | — | — | — | — | — | — |
| Acquisitions & other investing | $0 | $8.4M | $22.3M | $42.3M | $185.5M | $47.3M | $149.5M | $90.4M | $69.6M | $84.2M |
| Cash from investing activities | −$16.3M | $52.9M | $214.8M | −$283.0M | −$34.0M | −$271.9M | −$663.3M | −$411.8M | −$181.6M | −$305.2M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | −$17.7M | −$8.8M | −$3.3M | — | — | — |
| Share repurchases & issuance (net) | −$113,000 | $0 | $0 | — | −$7.9M | −$34.1M | −$40.9M | — | −$9.2M | −$13.0M |
| Net borrowing (repayment) | $27.8M | $199.8M | $10.6M | −$962,000 | — | — | — | — | — | — |
| Shares issued | $649.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$12.4M | $471,000 | −$435,000 | $11.4M | −$224.2M | −$65.5M | $556.5M | $245.6M | $55.8M | $169.5M |
| Cash from financing activities | $665.0M | $200.3M | $10.1M | $10.4M | −$249.9M | −$108.5M | $512.4M | $245.6M | $46.6M | $156.5M |
| Summary | ||||||||||
| Net change in cash | $732.0M | $8.0M | −$51.1M | −$558.2M | −$6.7M | −$2.7M | $28.8M | −$10.7M | −$6.4M | −$1.3M |
| Cash at end of period | $800.0M | $68.0M | $60.0M | $111.1M | $66.5M | $73.2M | $76.0M | $35.4M | $46.1M | $52.6M |
| Free cash flow | $66.9M | −$253.6M | −$298.4M | −$328.0M | $57.6M | −$65.1M | −$633.1M | −$347.0M | −$122.0M | −$242.0M |
| Free cash flow margin | 8.2% | −61.5% | −97.5% | −126.9% | 19.6% | −15.6% | −146.5% | −99.6% | −41.4% | −96.9% |
| Capex / revenue | 2.0% | 2.0% | 7.3% | 16.3% | 74.6% | 76.6% | 188.1% | 144.1% | 85.4% | 156.0% |
| Operating cash flow / net income | — | — | — | — | 9.99 | 8.19 | 2.29 | 2.15 | 21.55 | 5.49 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Sep '21 | Jun '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$1.1M | −$510,000 | $82.0M | $24.3M | −$71.8M | −$102.6M | −$36.9M | −$67.7M | −$66.2M | −$111.0M | $51.2M | $37.9M |
| Depreciation & amortization | $6.5M | $5.1M | $4.3M | $4.9M | $6.4M | $7.0M | $11.0M | $12.4M | $11.6M | $17.7M | $32.9M | $29.5M |
| Stock-based compensation | $38.1M | $15.9M | $13.4M | $13.7M | $28.3M | $14.7M | $5.0M | $4.7M | $4.5M | $4.5M | $566,000 | $593,000 |
| Change in working capital | −$18.1M | $8.3M | −$59.1M | $14.1M | −$1.4M | $13.3M | −$1.7M | −$19.2M | −$4.1M | −$1.2M | $21.6M | $28.0M |
| Other non-cash items | $36.0M | $4.2M | $4.3M | $5.5M | $45.8M | $36.2M | −$16.2M | $450,000 | −$8.7M | $16.1M | −$8.6M | −$9.7M |
| Cash from operating activities | $61.4M | $32.9M | $44.8M | $62.4M | $7.3M | −$31.3M | −$38.9M | −$69.4M | −$62.9M | −$73.9M | $97.6M | $86.3M |
| Investing activities | ||||||||||||
| Capital expenditures | −$32.4M | −$10.3M | −$5.1M | −$7.1M | −$1.4M | −$2.7M | −$2.3M | −$1.8M | −$2.6M | −$1.7M | −$545.2M | −$105.1M |
| Investments (net) | — | — | $0 | −$7.1M | −$1.4M | −$2.7M | — | — | −$2.6M | $59.6M | — | — |
| Acquisitions & other investing | −$100.1M | −$1 | $0 | $7.1M | $1.4M | $2.7M | $0 | $0 | $2.6M | $1.7M | $29.8M | $21.6M |
| Cash from investing activities | −$132.5M | −$10.3M | −$5.1M | −$7.1M | −$1.4M | −$2.7M | −$2.3M | −$1.8M | −$2.6M | $59.6M | −$515.4M | −$83.5M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | −$7.4M | −$7.4M |
| Share repurchases & issuance (net) | −$21.4M | $0 | −$91,000 | −$16.6M | $22,000 | −$22,000 | — | — | $0 | $0 | — | — |
| Net borrowing (repayment) | −$12.8M | −$40,000 | $4.0M | −$23,000 | $23.8M | −$22,000 | — | — | −$30,000 | $199.9M | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.9M | $864,000 | −$471,000 | −$4.5M | $657.5M | $1.3M | $226,000 | $87,000 | −$99,000 | $210,000 | $436.2M | −$4.7M |
| Cash from financing activities | −$36.1M | $824,000 | $3.4M | −$21.1M | $681.4M | $1.3M | $226,000 | $87,000 | −$129,000 | $200.1M | $428.8M | −$12.1M |
| Summary | ||||||||||||
| Net change in cash | −$107.3M | $23.3M | $43.1M | $34.3M | $687.4M | −$32.7M | −$41.0M | −$71.2M | −$65.6M | $185.8M | $11.1M | −$9.4M |
| Cash at end of period | $692.7M | $821.1M | $800.0M | $757.0M | $722.7M | $35.3M | $68.0M | $109.0M | $180.2M | $245.8M | $62.3M | $51.2M |
| Free cash flow | $28.9M | $22.5M | $39.7M | $55.3M | $5.9M | −$34.0M | −$41.2M | −$71.3M | −$65.5M | −$75.7M | −$447.6M | −$18.8M |
| Free cash flow margin | 11.0% | 10.4% | 13.6% | 25.5% | 3.3% | −28.1% | −31.7% | −70.1% | −65.5% | −93.8% | −443.9% | −21.9% |
| Capex / revenue | 12.3% | 4.8% | 1.7% | 3.3% | 0.8% | 2.2% | 1.8% | 1.8% | 2.6% | 2.2% | 540.7% | 122.6% |
| Operating cash flow / net income | — | — | 0.55 | 2.57 | — | — | — | — | — | — | 1.91 | 2.27 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
CAI cash generation
In fiscal 2025 (ended December 31, 2025), Caris Life Sciences generated $83.2 million of cash from operations and spent $16.3 million on capital expenditures, leaving free cash flow of $66.9 million, 8.2% of revenue. It returned $0.1 million to shareholders through dividends ($0) and net share buybacks ($0.1 million). Cash and equivalents rose by $732.0 million over the year.
Related: CAI income statement, CAI balance sheet. See the CAI stock overview for the latest quote and news.
CAI cash flow FAQ
What is Caris Life Sciences's free cash flow?
Caris Life Sciences's free cash flow was $66.9 million in fiscal 2025: $83.2 million of operating cash flow minus $16.3 million of capital expenditures It was -$253.6 million a year earlier..
How much cash does Caris Life Sciences generate from operations?
Caris Life Sciences generated $83.2 million of cash from operating activities in fiscal 2025.
How much does Caris Life Sciences spend on capital expenditures?
Caris Life Sciences spent $16.3 million on capital expenditures in fiscal 2025, 2.0% of revenue, compared with $8.4 million the year before.
How much stock does Caris Life Sciences buy back?
Caris Life Sciences spent $0.1 million on net share repurchases in fiscal 2025.