Carlsmed, Inc. CARL

15.10 0.28 1.89% as of 25 Sep
Market cap
$404.6M
P/E
0.0×

Insider Decisions

Total sells 2.63
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 61.90%

Capital & Financial Ratios

Market Cap 404.63
Revenue 63.30
Net Income (36.34)
Free Cash Flow (35.67)
Net Debt (73.94)
Current Ratio 8.84
Debt/Equity 0.18
P/E ratio 0.00
P/S ratio 6.49
P/B ratio 4.87
Past 5Y EPS Growth —
This Y EPS Growth 31.43%
Next Y EPS Growth 3.41%
Next 5Y EPS Growth 22.16%
in millions of $

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities

2023 2024 2025 Q'26
Cash — 40 110 89
Receivables — 7 11 14
Inventory — 1 2 2
Other — — — —
— 49 127 110
2023 2024 2025 Q'26
Payables — 2 4 4
ST’ Debt — — — —
Other — — — —
— 9 14 12
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — — —
Cash Flow — — —
Earnings — — —
Book Value — — —

Revenue

Mar Jun Sep Dec Year
’26 16 19 — — —
’25 10 12 13 15 51
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (13) (7) — — —
’25 (8) (7) (8) (5) (29)
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (13) (8) — — —
’25 (8) (8) (9) (6) (30)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (0.32) (0.39) — — —
’25 (1.47) (1.47) (0.40) (0.32) (2.12)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— — — — — — — — — 11.55

Analyst estimates 2026–2028

Powerpack
Low Price
— — — — — — — — — 17.19
High Price
— — — — — — — — 100 127
Employees
— — — — — — — — 0 0
Revenue/Emp
— — — — — — — — 27 51
Revenue
— — — — — — — — 73.80% 75.31%
Gross Margin
— — — — — — — — (24) (30)
EBT
— — — — — — — — (89.30%) (58.67%)
EBT Margin
— — — — — — — — (24) (30)
Net Income
— — — — — — — — 0 0
Depreciation
— — — — — — — — 6.68 3.55
Revenue/Sh
— — — — — — — — (6.11) (2.12)
Earnings/Sh
— — — — — — — — (6.26) (2.04)
Cash Flow/Sh
— — — — — — — — (0.04) (0.10)
Capex/Sh
— — — — — — — — (6.31) (2.13)
Free CF/Sh
— — — — — — — — 6.29 6.95
Book Value/Sh
— — — — — — — — 4 14
Shares
— — — — — — — — 0.00 0.00
PE Ratio
— — — — — — — — 1.90 3.48
PS Ratio
— — — — — — — — 0.00 1.78
PB Ratio
— — — — — — — — 1.39 1.61
EV/Sales
— — — — — — — — (1.74) (2.67)
EV/FCF
— — — — — — — — (25) (29)
Op' Cash Flow
— — — — — — — — 0 (1)
Capex
— — — — — — — — (26) (30)
FCF
— — — — — — — — 41 112
Working Cap'
— — — — — — — — 15 15
Total Debt
— — — — — — — — (25) (95)
Net Debt
— — — — — — — — 26 99
Sh' Equity
— — — — — — — — 0.00% (33.22%)
ROA
— — — — — — — — (1,920.54%) (442.13%)
ROIC
— — — — — — — — 0.00% (214.02%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Carlsmed, Inc. peers in Health Information Services

All 52 Health Information Services stocks →

Carlsmed, Inc. (CARL) key facts

  • Carlsmed, Inc. (CARL) is a Health Information Services company in the Healthcare sector, listed on Nasdaq.
  • Carlsmed, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $50.5 million, up 85.9% from fiscal 2024.
  • As of September 25, 2026, CARL traded at $15.10, a market capitalization of $404.6 million.
  • Return on equity was −214.0% and debt-to-equity 0.18.

Source: company filings (standardised) and stockrow calculations.

Carlsmed, Inc. (CARL) Latest News

News by impact score

Fine-tune

15 Sep

3

Carlsmed, Inc. files patent infringement lawsuit against DeGen Medical. Lawsuit may protect patents and shift competitive positioning in medical devices.

12 Aug

4

Carlsmed eyes growth from cervical launch and Medicare shifts boosting spine platform. Cervical launch and Medicare shift create major growth catalyst for spine platform.

6 Aug

4

Carlsmed Inc (CARL) reported Q2 2026 revenue of $18 million, up 57% year-over-year. Strong revenue growth signals improved financial performance and positive market reception.

5 Aug

4

Carlsmed reports second quarter 2026 financial results and raises full-year guidance. Raised full-year guidance signals stronger expected performance and positive market reaction.

3 transcript

Carlsmed Q2 earnings call highlights financial results, operational updates and forward outlook for the company. Q2 earnings update offers moderate insight into performance and near-term expectations.

3

Carlsmed reported a Q2 net loss but exceeded revenue estimates. Q2 loss offset by revenue beat shapes near-term financial outlook and valuation.

3 Aug

4

Carlsmed, Inc. announced favorable reimbursement for aprevo® lumbar procedures. Favorable reimbursement for aprevo lumbar procedures boosts product adoption and revenue potential for Carlsmed.

8 May

3

Wall Street analysts forecast a 90.77% upside for Carlsmed, Inc. (CARL) stock. Analyst projections of 90.77% stock upside could moderately boost investor sentiment and short-term market performance.

7 May

3

Analysts have issued forecasts for Carlsmed, Inc. (NASDAQ:CARL) following its first-quarter results. Analyst forecasts after Q1 results may moderately influence investor sentiment and stock valuation.

5 May

4

Carlsmed, Inc. (CARL) Q1 earnings call highlights financial results, operational progress, and strategic outlook. Q1 earnings call highlights detail financial performance and strategic updates with potential to significantly shift investor sentiment and company trajectory.

4 transcript

Carlsmed, Inc. (CARL) released its Q1 2026 earnings call transcript, detailing financial results, operational updates, and forward guidance. Q1 earnings transcripts disclose key financial metrics, strategic updates, and outlook that significantly shape market performance and investor expectations.

4

Carlsmed, Inc. (CARL) reported first quarter 2026 financial results. Quarterly earnings reports drive significant shifts in investor sentiment and stock performance.

3

Carlsmed, Inc. (CARL) reported a Q1 net loss but exceeded revenue estimates. Revenue beat despite Q1 loss moderately boosts financial sentiment without altering core trajectory.

13 Apr

4

Carlsmed showcased progress in personalized spine fusion, expansion into cervical procedures, and Medicare reimbursement tailwinds at the Needham Conference. Product advancements, cervical market entry, and Medicare coverage gains position Carlsmed for significant revenue growth and investor interest.

7 Mar

4

Carlsmed, Inc. (CARL) unveiled its personalized spine platform and projected $70M-$75.5M revenue for 2025 at a conference. Unveiling a personalized spine platform with aggressive 2025 revenue guidance signals major product innovation and growth potential significantly boosting market performance.

26 Feb

4

Carlsmed, Inc. (CARL) Q4 earnings call highlights financial results, operational updates, and forward guidance. Q4 earnings highlights cover financial performance and strategic outlook, likely driving significant shifts in market perception and trajectory.

4

Carlsmed Inc (CARL) reported record revenue growth in Q4 2025 earnings call highlights, despite financial challenges. Record revenue growth amid financial hurdles signals major positive shift in financial trajectory and investor sentiment.

25 Feb

4

Carlsmed, Inc. (CARL) reported fourth quarter and full year 2025 financial results. Full-year and quarterly financial results directly shape investor sentiment, stock valuation, and future performance expectations.

18 Feb

4

Carlsmed, Inc. (CARL) announces the first corra™ personalized cervical plating procedure, marking a clinical milestone in patient-specific spinal implants. First procedure execution validates corra™ technology clinically, accelerating commercialization and enhancing competitive positioning in personalized spine surgery.

10 Feb

4

Carlsmed, Inc. has successfully completed its first aprevo® bi-lateral posterior lumbar interbody fusion procedure. This marks a significant milestone for the company as it expands its innovative spinal surgery solutions. The aprevo® system is designed to enhance surgical outcomes and improve patient recovery times, showcasing Carlsmed's commitment to advancing spinal care technology. The successful launch of the aprevo® system is a major strategic move that could significantly enhance the company's market position and investor sentiment.

22 Jan

4

Carlsmed, Inc. insiders have purchased approximately US$8.10 million worth of stock, indicating strong confidence in the company's future prospects. This significant insider buying suggests that those closest to the company believe in its potential for growth and success. Such actions often reflect a positive outlook on the company's performance and can influence market sentiment positively. Insider buying of this magnitude typically signals strong confidence in the company's future performance and can significantly impact investor sentiment.

12 Jan

4

Carlsmed, Inc. (CARL) announced preliminary revenue figures for the fourth quarter and full year 2025, indicating a significant increase compared to previous periods. The company attributed this growth to strong demand for its innovative orthopedic solutions and successful market expansion efforts. Management expressed optimism about future performance and ongoing product development initiatives. The substantial revenue growth and positive outlook suggest a significant impact on the company's future performance and market sentiment.

6 Jan

4

Carlsmed, Inc. announced the publication of two-year data for its aprevo® lumbar device in the Global Spine Journal, highlighting positive outcomes in spinal surgery. The study demonstrated significant improvements in patient-reported outcomes and safety profiles, reinforcing the device's effectiveness in treating lumbar conditions. This publication is expected to enhance the company's credibility and market presence in the spinal surgery sector. The publication of positive long-term data for a key product is likely to significantly impact investor sentiment and market positioning.

9 Dec

4

Carlsmed, Inc. has launched the Aprevo Cervical Platform, a new technology designed to enhance personalized spine surgery. This platform aims to improve surgical outcomes by utilizing advanced imaging and data analytics to tailor procedures to individual patient needs. The introduction of Aprevo is expected to position Carlsmed as a leader in the spine surgery market, addressing the growing demand for personalized medical solutions. The launch of the Aprevo Cervical Platform represents a significant strategic move that could enhance Carlsmed's competitive positioning and market presence.

3 Dec

4

Carlsmed, Inc. has launched its aprevo® Technology Platform for cervical fusion surgeries in the U.S. at the Cervical Spine Research Society's 53rd Annual Meeting. This innovative platform aims to enhance surgical outcomes and patient recovery in cervical spine procedures, marking a significant advancement in the company's product offerings. The launch of the aprevo® Technology Platform represents a major strategic move that could significantly enhance Carlsmed's competitive position and market presence.

6 Nov

4

Carlsmed, Inc. (CARL) reported its financial results for the third quarter of 2025, showcasing improved performance and increased revenue. The company has raised its full-year guidance, indicating confidence in its growth trajectory. Key metrics reflect a positive trend, suggesting strong demand for its products and services. Investors reacted favorably to the news, which may enhance market sentiment towards the company. The raised full-year guidance and strong quarterly performance indicate significant positive momentum for the company's future.

29 Sep

3

Carlsmed, Inc. has appointed Jennifer Kamocsay as Chief Legal Officer and Secretary, effective immediately. Kamocsay brings extensive legal experience, having previously served as General Counsel at several companies, including a focus on corporate governance and compliance. Her appointment is expected to enhance Carlsmed's legal strategies and support its growth initiatives. The appointment of a new Chief Legal Officer may influence the company's legal strategies and governance, impacting its operational effectiveness.

22 Sep

4

Carlsmed, Inc. has been selected for inclusion in the Russell 2000® Index, which is a significant milestone for the company. This inclusion is expected to enhance the company's visibility among investors and may lead to increased trading volume and interest in its stock. The Russell 2000 Index is widely recognized as a benchmark for small-cap stocks, and being part of it could positively influence Carlsmed's market presence and investor perception. Inclusion in the Russell 2000 Index is likely to significantly enhance investor visibility and market performance.

12 Sep

3

Goldman Sachs has set a new target for the S&P 500, indicating a bullish outlook for the market. Alongside this, the firm has identified two top stock picks, which may include Carlsmed, Inc. (CARL). The analysis suggests that these selections could benefit from favorable market conditions and investor sentiment, potentially impacting their performance positively. Goldman Sachs' stock picks may influence market sentiment and investor interest in Carlsmed, but the overall impact is expected to be limited.

28 Aug

4

Carlsmed, Inc. (CARL) reported its financial results for the second quarter of 2025, highlighting significant growth in revenue and advancements in its product offerings. The company continues to focus on innovation in spinal surgery solutions, which has contributed to increased market interest and investor confidence. Management expressed optimism about future performance, citing ongoing demand for their products and strategic initiatives aimed at expanding market reach. The reported financial growth and strategic initiatives indicate a significant impact on future performance and investor sentiment.

stockrow.com/CARL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com