Caris Life Sciences, Inc.

Good day, everyone, and welcome to the Karis Life Sciences Q2 2026 earnings call. My name is Tanya, and I'll be your conference operator today. All participants are in a listen-only mode. After the prepared remarks, there will be a question-and-answer session. As a reminder, this call is being recorded. I would now like to hand the call over to Russel Denton at Karis. Please go ahead.

Thank you. Earlier today, Karis Life Sciences released financial results for the quarter ended June 30th, 2026. Joining from Karis today are David Dean Halbert, our founder, chairman, and CEO, David Spetzler, our president, Brian Brille, our vice chairman and EVP, and Luke Power, our CFO. Before you begin, I'd like to remind you that during this call, management will make forward-looking statements within the meeting of federal securities laws. These statements are based on management's current expectations and involve risks and uncertainties that could cause actual results to materially differ from those anticipated. For a discussion of the factors that could affect our future results, please refer to our SEC filings, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. We undertake no obligation to update these statements except as required by law. This call will also include a discussion of non-GAAP financial measures, which are adjusted to exclude certain specified items The reconciliation of these non-GAAP measures to the most directly comparable GAAP measures are provided in today's earnings release. A copy of today's presentation materials can be found on our investor relations website. I'll now turn the call over to our founder, chairman, and CEO, David Dean Halbert.

David? Thanks, Russ, and thanks to everyone for joining. I want to start by highlighting that this was a record quarter with record clinical volume, including record tissue and record blood volume. as the investment in our commercial engine in Q1 has started to pay dividends and will continue into the second half of the year. We added roughly 6,400 cases in the quarter, a record for sequential case additions that led us to 59,200 cases. As you know, Kara's case reflects our comprehensive approach with each case representing multiple oncology tests. On the tissue side, a single case can include whole exome and whole transcriptome sequencing along with multiple IHCs, methylation, and CISH. On the blood side, it's even more sequencing as we run whole exome, whole transcriptome, and double that sequencing then for bucky coat subtraction. So each case is many tests worth of biology, and that's the strength behind our platform Last quarter, we ran over 345,000 clinical oncology tests, including over 114,000 whole exome and whole transcriptome tests. And that strength changes what we can do for patients today. For therapy selection, our blood and tissue assays are indisputably superior to any other assay because we run a whole exome and whole transcriptome sequencing together with our AI. And we're not just pointing physicians to the obvious drug. were surfacing the options they'd otherwise missed, and more and more were helping inform the diagnosis itself. Ordering any other test does a disservice to the patient. This comprehensive approach is the whole reason I started CARES in 2008. I've always believed that if you could read a patient's entire molecular story, all of it, at scale, and apply machine learning and AI to it, you could fundamentally change how disease is diagnosed and treated. That conviction is why I built Keras as a patient-focused, science-driven company from day one. 18 years later, we've built one of the deepest molecular databases in all of oncology, over 1.13 million patients, and the AI trained on it reflects a comprehensive approach that no one can match. We're also now putting that Asia directly in our customers' hands, and the next generation AI assistant we call Jake. They can now run comparative analyses against our proprietary database in ways that simply weren't possible before. And it's that same commitment that led us to Keras Detect. Not all so-called early detection tests are the same. We built Keras Detect on whole genome and whole transcriptome sequencing because the narrower approaches like methylation just don't hold up in early stage. It's not only how you look, it's how much you find. Cancers found in stage one have a 90% chance of being cured. The cancers found in stage four only have a 10% chance. So early stage is the entire point. And think about screening today. It's mostly one cancer at a time, and some of it, frankly, is unpleasant enough that people put it off for years. The stool test is the obvious one. So the question I always ask myself is simple. Why settle for a test that looks for a single cancer when one blood draw can look for many, currently 58 so far, and actually perform where it counts early? To me, that's not someday, that's now. And that is reflected by the interest from physicians, health systems, patients, which has run ahead of even my own expectations for DETECT. Frankly, near-term demand may run ahead of our rollout, and we can see back orders as we scale. But detection is only half of what makes Detect different. Because it doesn't stop at detection, and that's the other reason I'm excited. We're advancing what we call the mutational cleanse, and David Spetzler will get into it in more detail. But essentially, when carriers detect flagged disease early, we don't just report a signal, we follow it We go back at 10,000-fold depth of coverage, what we call our max assay, and we use Jake and our AI-ML tools to identify specific immunogenic mutations. And then we make peptides that are personalized immune targets. In other words, find the dangerous mutations early and go after them before they do harm. This is the arc from early detection to early interception. and the same engine sequencing database in AI isn't limited to oncology. We see the same approach extending into other disease areas over time, including cardiology, neurology, and autoimmune, among others. The biology is different. The CARES platform is the same. We're not slowing down on the near-term pipeline either. Later this year, we will take the platform into MRD, which David Spetzler will walk you through in a few minutes. It all comes back to one thing for me, making precision medicine a reality for every patient. We took another big step this quarter, and we did it while growing and funding our own investments. That's the leading science company I set out to build 18 years ago, and I'm more convinced than ever about where it's headed. I'll now turn it over to Brian to start walking through the presentation. Brian?