Carlsmed, Inc. (CARL)
| Market Cap | 460.87M +25.0% |
| 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 | 121,478 |
| Open | 16.86 |
| Previous Close | 16.75 |
| Day's Range | 16.52 - 17.00 |
| 52-Week Range | 8.50 - 17.23 |
| Beta | n/a |
| Analysts | Strong Buy |
| Price Target | 19.20 (+13.74%) |
| Earnings Date | Aug 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 $19.2, which is an increase of 13.74% from the latest price.
News
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...
Carlsmed Inc. to Report Second Quarter 2026 Financial Results on August 5, 2026
CARLSBAD, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions...
Carlsmed initiated with a Buy at Needham
Needham analyst David Saxon initiated coverage of Carlsmed (CARL) with a Buy rating and $17 price target The firm believes the company’s personalized Aprevo implants are differentiated versus traditio...
Carlsmed Transcript: Truist Securities MedTech Conference 2026
The company leverages a digital, AI-driven platform for personalized spine surgery, enabling rapid growth, high margins, and expanding indications. Regulatory changes and new product launches are expected to accelerate adoption and revenue, while a capital-light model and deep IP provide strong competitive advantages.
Carlsmed Transcript: Bank of America Global Healthcare Conference 2026
A personalized spine surgery platform is driving rapid adoption, with strong clinical outcomes and operational improvements. Favorable reimbursement changes and new product launches are expected to fuel further growth, while margin expansion and a path to near-term profitability remain key priorities.
Carlsmed Earnings Call Transcript: Q1 2026
Q1 2026 revenue grew 58% year-over-year to $16.1M, driven by strong surgeon adoption and new product launches. Gross margin improved to 77.1%, and full-year revenue guidance was raised to $72–77M. CMS reimbursement changes and clinical data support continued growth.
Carlsmed Earnings release: Q1 2026
Carlsmed released its Q1 2026 earnings on May 5, 2026, summarizing the period's financial results.
Carlsmed Quarterly report: Q1 2026
Carlsmed has published its Q1 2026 quarterly earnings report on May 5, 2026.
Carlsmed reports Q1 EPS (32c), consensus (40c)
Reports Q1 revenue $16.12M, consensus $14.98M. “We began 2026 with strong momentum, delivering 58% year-over-year revenue growth, publishing meaningful clinical data, and debuting new products to cont...
Carlsmed raises FY26 revenue view to $72M-$77M from $70M-$75M
Consensus $72.81M. The company said, “Revenue for the full year 2026 is expected to be in the range of $72 to $77 million, representing growth of 48% at the midpoint…
Carlsmed® Reports First Quarter 2026 Financial Results
First quarter 2026 revenue of $16.1 million, representing 58% growth year-over-year Full year 2026 revenue guidance raised to $72 million to $77 million CARLSBAD, Calif., May 05, 2026 (GLOBE NEWSWIRE)...
Carlsmed Slides: Corporate presentation
Carlsmed has posted slides in relation to its latest quarterly earnings report, which was published on May 5, 2026.
Carlsmed Proxy statement: Proxy filing
Carlsmed filed a proxy statement on April 22, 2026, providing details for shareholder voting and corporate governance matters.