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Caris Life Sciences vs Natera: revenue, profit, margins and growth compared

Caris Life Sciences brought in $812M of revenue in fiscal 2025, Natera $2.3B in fiscal 2025. Revenue changed by +97.0% at Caris Life Sciences and +35.9% at Natera on the year before, so Caris Life Sciences grew faster. Caris Life Sciences kept -8.4% of its revenue as net profit, Natera -9.0%. Free cash flow was $66.9M at Caris Life Sciences and $109.1M at Natera.

Side by side, latest fiscal year

CAINTRA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$812M$2.3B
Revenue growth+97.0%+35.9%
Net income-$68.1M-$208.2M
Net margin-8.4%-9.0%
Free cash flow$66.9M$109.1M
Free cash flow margin8.2%4.7%
Earnings per share (diluted)-$3.22-$1.52
Cash$796.3M$1.1B
Debt$378.5Mn/a
Price to earningsn/an/a
Market value$9B$59.5B
Dividend yieldn/an/a
Rank by revenue in sector#161 of 523 · Health care#101 of 523 · Health care

Over the years

Revenue
CAI FY2023: $306.1MCAI FY2025: $412.3MCAI FY2025: $812MNTRA FY2018: $257.7MNTRA FY2019: $302.3MNTRA FY2020: $391MNTRA FY2021: $625.5MNTRA FY2022: $820.2MNTRA FY2023: $1.1BNTRA FY2024: $1.7BNTRA FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
CAI $812MNTRA $2.3B
Net income
CAI FY2023: -$341.4MCAI FY2025: -$281.9MCAI FY2025: -$68.1MNTRA FY2018: -$128.2MNTRA FY2019: -$124.8MNTRA FY2020: -$229.7MNTRA FY2021: -$471.7MNTRA FY2022: -$547.8MNTRA FY2023: -$434.8MNTRA FY2024: -$190.4MNTRA FY2025: -$208.2MFY18FY19FY20FY21FY22FY23FY24FY25
CAI -$68.1MNTRA -$208.2M
Net margin
CAI FY2023: -111.5%CAI FY2025: -68.4%CAI FY2025: -8.4%NTRA FY2018: -49.7%NTRA FY2019: -41.3%NTRA FY2020: -58.8%NTRA FY2021: -75.4%NTRA FY2022: -66.8%NTRA FY2023: -40.2%NTRA FY2024: -11.2%NTRA FY2025: -9.0%FY18FY19FY20FY21FY22FY23FY24FY25
CAI -8.4%NTRA -9.0%
Revenue growth
CAI FY2025: +34.7%CAI FY2025: +97.0%NTRA FY2019: +17.3%NTRA FY2020: +29.3%NTRA FY2021: +60.0%NTRA FY2022: +31.1%NTRA FY2023: +32.0%NTRA FY2024: +56.7%NTRA FY2025: +35.9%FY19FY20FY21FY22FY23FY24FY25
CAI +97.0%NTRA +35.9%
Free cash flow
CAI FY2023: -$298.4MCAI FY2025: -$253.6MCAI FY2025: $66.9MNTRA FY2018: -$74.5MNTRA FY2019: -$68.4MNTRA FY2020: -$202.1MNTRA FY2021: -$376.3MNTRA FY2022: -$479.2MNTRA FY2023: -$286.2MNTRA FY2024: $69.2MNTRA FY2025: $109.1MFY18FY19FY20FY21FY22FY23FY24FY25
CAI $66.9MNTRA $109.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Caris Life Sciences and Natera

Which is bigger by revenue, Caris Life Sciences or Natera?

Natera is bigger by revenue: $2.3B in fiscal 2025, against $812M for Caris Life Sciences in fiscal 2025.

Which keeps more of its revenue as profit, Caris Life Sciences or Natera?

Caris Life Sciences had a net margin of -8.4% in fiscal 2025; Natera had -9.0% in fiscal 2025.

Which grew revenue faster, Caris Life Sciences or Natera?

In their latest fiscal years revenue changed by +97.0% at Caris Life Sciences and +35.9% at Natera.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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