HIGHBuilt-in & outside partyProduct / Revenue mix
84.4%
MI Profile tissue-based profiling
“10-K Item 1A: 'our tissue-based profiling solution, which accounted for 84.4% of our revenue for the year ended December 31, 2025'”
CAI · Concentration risk · 10-K extracted
Caris Life Sciences (CAI) concentration risks
Updated
The most significant concentration Caris Life Sciences discloses is MI Profile tissue-based profiling at 84.4%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Caris Life Sciences’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
sole suppliers for next-generation sequencers
“10-K Item 1A: 'We rely on a limited number of third-party suppliers or, in many cases, sole suppliers, for some of our next-generation sequencers, lab materials, reagents, and supplies'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is defined by two large, interconnected exposures that together describe both the breadth and the supply-chain vulnerability of a single-platform diagnostics business. The primary revenue driver is tissue-based profiling, which accounted for 84.4% of revenue for the year ended December 31, 2025 — a high-share product concentration with a mixed character. The exposure is structural in the sense that the company was built around this modality, but it also carries dependency-like risk because a failure to maintain reimbursement coverage, regulatory authorization, or competitive differentiation for this platform would affect the preponderance of the revenue base. Reinforcing the platform concentration is a supply-chain dependency: the company relies on a limited number of third-party suppliers or, in many cases, sole suppliers, for key next-generation sequencers, lab materials, reagents, and supplies. This is a high-share dependency where no number is cleanly quantifiable from the filing, but the filing's own framing — "sole suppliers" for multiple critical inputs — makes the qualitative exposure evident. A disruption to any one of those sole-source relationships would directly impair the ability to run the tissue-based profiling assays that generate most of the revenue. The two risks compound each other in a direct way: the product concentration means there is little alternative revenue to fall back on if the primary platform is constrained, and the supply-chain dependency means the platform itself has identified single points of failure in its manufacturing inputs. On balance, this is a concentrated risk profile that warrants close attention to both reimbursement trajectory and supplier relationship stability.
For the engine’s reasoning on CAI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| CAI● | Caris Life Sciences, Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.