Carlsmed, Inc. (CARL)
| Market Cap | 380.87M +9.1% |
| Revenue (ttm) | 63.30M +65.4% |
| Net Income | -36.35M |
| EPS | -1.43 |
| Shares Out | 27.30M |
| PE Ratio | n/a |
| Forward PE | n/a |
| Dividend | n/a |
| Ex-Dividend Date | n/a |
| Volume | 33,272 |
| Open | 13.91 |
| Previous Close | 13.85 |
| Day's Range | 13.85 - 14.32 |
| 52-Week Range | 8.50 - 17.23 |
| Beta | n/a |
| Analysts | Strong Buy |
| Price Target | 19.40 (+39.07%) |
| Est. Earnings | Nov 5, 2026 |
About CARL
Carlsmed, Inc., a commercial-stage medical technology company, designs, manufactures, and markets AI-enabled personalized spine surgery solutions. The company develops aprevo, a comprehensive technology platform for spine fusion surgery procedures. Its aprevo platform includes proprietary surgical planning software, using outcomes-based algorithms that are aided with artificial intelligence, and resulting custom-built, anatomically designed vertebral interbody implants. The company was incorporated in 2018 and is based in Carlsbad, California.
Financial Performance
In 2025, Carlsmed's revenue was $50.51 million, an increase of 85.94% compared to the previous year's $27.17 million. Losses were -$30.22 million, 21.6% more than in 2024.
Financial StatementsAnalyst Summary
According to 5 analysts, the average rating for CARL stock is "Strong Buy." The 12-month stock price target is $19.4, which is an increase of 39.07% from the latest price.
News
Carlsmed launches aprevo Lumbar Bi-lateral Posterior System in the U.S.
Carlsmed (CARL) announced the U.S. commercial launch of its aprevo Lumbar Bi-lateral Posterior System at the North American Spine Society’s 41st Annual Meeting, or NASS, in San Antonio, Texas. The…
Carlsmed Launches aprevo® Lumbar Bi-lateral Posterior System
CARLSBAD, Calif., Oct. 14, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), today announced the U.S. commercial launch of its aprevo® Lumbar Bi-lateral Posterior S...
Carlsmed price target raised to $24 from $23 at BTIG
BTIG raised the firm’s price target on Carlsmed (CARL) to $24 from $23 and keeps a Buy rating on the shares as part of a broader research note previewing Q3…
Carlsmed, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CARLSBAD, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions...
Carlsmed appoints Jarc as Chief Product, AI Officer
Carlsmed (CARL) announced that Tony Jarc, Ph.D. has been appointed to the newly-created position of Chief Product and AI Officer, effective immediately. Dr. Jarc will lead the development and commerci...
Carlsmed Appoints Tony Jarc as Chief Product and AI Officer
CARLSBAD, Calif., Oct. 01, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions...
Carlsmed appoints Heppenstall as Chief Financial Officer
Carlsmed (CARL) announced that Richard Heppenstall has been appointed Chief Financial Officer, effective immediately. Heppenstall succeeds Leo Greenstein, who has served as CFO since 2023 and will be ...
Carlsmed Appoints Richard Heppenstall as Chief Financial Officer
CARLSBAD, Calif., Sept. 28, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solution...
Carlsmed files patent infringement lawsuit against DeGen Medical
Carlsmed (CARL) filed a patent infringement lawsuit against DeGen Medical in the United States District Court for the District of South Carolina Florence Division. The complaint asserts that DeGen is…
Carlsmed, Inc. Files Patent Infringement Lawsuit against DeGen Medical
CARLSBAD, Calif., Sept. 15, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today filed a...
Carlsmed promotes Jeff Bertolini to COO role
Carlsmed (CARL) announced that Jeff Bertolini has been promoted to the role of COO, effective immediately. Jeff joined Carlsmed in September 2024, most recently serving as the company’s senior VP,…
Carlsmed, Inc. Announces Chief Operating Officer Appointment
CARLSBAD, Calif., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solution...
Carlsmed files $250M mixed securities shelf
16:16 EDT Carlsmed (CARL) files $250M mixed securities shelf
Carlsmed Registration statement: Registration filing
Carlsmed filed a registration statement on August 14, 2026, providing details about a securities offering with the SEC.
Carlsmed Transcript: Bank of America SMID Cap Virtual Conference
AI-driven personalized spine surgery platform shows strong clinical outcomes and rapid adoption, with a $10B+ U.S. market opportunity. New reimbursement codes, margin expansion, and scalable infrastructure position the business for accelerated growth and profitability by 2027.
Carlsmed price target raised to $20 from $18 at Truist
Truist raised the firm’s price target on Carlsmed (CARL) to $20 from $18 and keeps a Buy rating on the shares.
Carlsmed Earnings Call Transcript: Q2 2026
Q2 2026 revenue grew 57% year-over-year to $18.9 million, driven by strong surgeon adoption and expansion of lumbar and cervical platforms. Gross margin rose to 76.8%, and full-year revenue guidance was raised to $74–78 million. CMS reimbursement changes and new product launches are expected to drive future growth.
Carlsmed Earnings release: Q2 2026
Carlsmed released its Q2 2026 earnings on August 5, 2026, summarizing the period's financial results.
Carlsmed Quarterly report: Q2 2026
Carlsmed has published its Q2 2026 quarterly earnings report on August 5, 2026.
Carlsmed reports Q2 EPS (39c), consensus (40c)
Reports Q2 revenue $18.94M, consensus $17.95M. “Our second quarter 2026 results reflect the growing momentum of aprevo procedures and further progress on our path to profitability,” said Mike Cordonni...
Carlsmed raises FY26 revenue view to $74M-$78M from $72M-$77M
Consensus $74.83M. The company said, “Revenue for the full year 2026 is expected to be in the range of $74 to $78 million, representing growth of over 50% at the…
Carlsmed® Reports Second Quarter 2026 Financial Results and Raises Full-Year Guidance
Second quarter 2026 revenue of $18.9 million, representing 57% growth year-over-year Full year 2026 revenue guidance raised to $74 million to $78 million CARLSBAD, Calif., Aug. 05, 2026 (GLOBE NEWSWIR...
Carlsmed announces CMS reimbursement for aprevo Lumbar spinal fusion
Carlsmed (CARL) announced that the Centers for Medicare & Medicaid Services, or CMS, has finalized a favorable reimbursement policy applicable to inpatient aprevo Lumbar spinal fusion procedures in th...
Carlsmed Announces Favorable Reimbursement for aprevo® lumbar Procedures
Centers for Medicare & Medicaid Services (CMS) Fiscal Year 2027 Inpatient Final Rule creates three new Medicare Severity-Diagnosis Related Groups (MS-DRGs), with favorable reimbursement for Carlsmed a...
Carlsmed, Inc. To Participate in Upcoming Investor Conferences
CARLSBAD, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions...