Carlsmed, Inc.
CARL
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Fundamentals
| Market cap | $383.60M | Enterprise value | $316.30M | Trailing P/E | — | Forward P/E | -10.18 |
| PEG | — | Price / book | 4.54 | Beta | — | Dividend yield | 0.00% |
| Revenue growth | 56.7% | Earnings growth | — | Gross margin | 76.6% | Operating margin | -58.3% |
| Profit margin | -57.4% | ROE | -66.1% | ROA | -28.2% | Debt / equity | 0.26 |
| Current ratio | 8.84 | Free cash flow | -$26.41M | Analyst recommendation | strong_buy | Mean target | $19.20 |
| 52w high | $17.23 | 52w low | $8.50 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | |
|---|---|---|---|---|---|---|
| Revenue | $18.9M | $16.1M | $15.2M | $13.1M | $12.1M | — |
| Op margin | -58.3% | -57.6% | -61.4% | -69.1% | -53.8% | — |
| Net income | -$10.5M | -$8.7M | -$8.6M | -$8.5M | -$6.8M | — |
| Gross margin | 76.8% | 77.1% | 76.5% | 75.9% | 73.4% | — |
| Gross profit | $14.5M | $12.4M | $11.6M | $9.9M | $8.9M | — |
| Operating income | -$11.0M | -$9.3M | -$9.3M | -$9.0M | -$6.5M | — |
- Revenue +18% vs prior quarter ($19M vs $16M).
- Gross margin 76.8% (was 77.1% prior quarter).
Yearly (6y)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenue | $50.5M | $27.2M | $13.8M |
| Op margin | -60.5% | -88.8% | -134.9% |
| Net income | -$29.6M | -$24.3M | -$18.9M |
| Gross margin | 75.3% | 73.8% | 71.9% |
| Gross profit | $38.0M | $20.0M | $9.9M |
| Operating income | -$30.6M | -$24.1M | -$18.6M |
Headlines — watch
• [WARN · legal] Carlsmed, Inc. Files Patent Infringement Lawsuit against DeGen Medical
News
2026-10-02 · Carlsmed, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
2026-10-01 · Carlsmed Appoints Tony Jarc as Chief Product and AI Officer
2026-09-29 · Carlsmed names new CFO
2026-09-28 · Carlsmed Names Richard Heppenstall CFO; Company Reiterates Fiscal 2026 Revenue Guidance
2026-09-28 · Carlsmed Appoints Richard Heppenstall as Chief Financial Officer
2026-09-16 · Carlsmed Sues DeGen Medical, Alleging Infringement of Eight Patents
2026-09-15 · Carlsmed, Inc. Files Patent Infringement Lawsuit against DeGen Medical
2026-09-08 · Carlsmed Names Jeff Bertolini COO
2026-09-08 · Carlsmed, Inc. Announces Chief Operating Officer Appointment
2026-08-13 · Carlsmed Eyes Growth as Cervical Launch, Medicare Shift Boost Spine Platform
2026-08-06 · Truist Adjusts Price Target on Carlsmed to $20 From $18, Maintains Buy Rating
2026-08-06 · Carlsmed Inc (CARL) (Q2 2026) Earnings Call Highlights: Revenue Surges 57% to $18. ...
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