Carlsmed, Inc. (CARL)
| Market Cap | 317.66M |
| Revenue (ttm) | 56.44M +74.9% |
| Net Income | -32.60M |
| EPS | -1.64 |
| Shares Out | 27.18M |
| PE Ratio | n/a |
| Forward PE | n/a |
| Dividend | n/a |
| Ex-Dividend Date | n/a |
| Volume | 276,075 |
| Open | 10.83 |
| Previous Close | 10.38 |
| Day's Range | 10.44 - 11.97 |
| 52-Week Range | 8.50 - 17.19 |
| Beta | n/a |
| Analysts | Strong Buy |
| Price Target | 18.17 (+55.5%) |
| Earnings Date | May 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 6 analysts, the average rating for CARL stock is "Strong Buy." The 12-month stock price target is $18.17, which is an increase of 55.50% from the latest price.
News
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, Inc. To Participate in Upcoming Investor Conferences
CARLSBAD, Calif., April 28, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), today announced that Mike Cordonnier, Chairman and Chief Executive Officer, will parti...
Carlsmed Proxy statement: Proxy filing
Carlsmed filed a proxy statement on April 22, 2026, providing details for shareholder voting and corporate governance matters.
Carlsmed Proxy statement: Proxy filing
Carlsmed filed a proxy statement on April 22, 2026, providing details for shareholder voting and corporate governance matters.
Carlsmed price target lowered to $18 from $20 at Truist
Truist lowered the firm’s price target on Carlsmed (CARL) to $18 from $20 and keeps a Buy rating on the shares as part of a broader research note previewing Q1…
Carlsmed Inc. to Report First Quarter 2026 Financial Results on May 5, 2026
CARLSBAD, Calif., April 14, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced it will rep...
Carlsmed Transcript: 25th Annual Needham Virtual Healthcare Conference
Aprevo's digital, AI-driven spine surgery platform has demonstrated strong clinical outcomes, including a 74% reduction in reoperations, and is expanding rapidly in both lumbar and cervical markets. Elevated reimbursement, robust surgeon adoption, and new product launches support a 44% growth outlook for 2024.
Carlsmed price target lowered to $23 from $24 at BTIG
BTIG analyst Ryan Zimmerman lowered the firm’s price target on Carlsmed (CARL) to $23 from $24 and keeps a Buy rating on the shares as part of a broader research…
Carlsmed, Inc. To Participate in the 25th Annual Needham Virtual Conference
CARLSBAD, Calif., April 01, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), today announced that Mike Cordonnier, CEO and Chairman, will be presenting at the 25th...
Carlsmed Transcript: 2026 CG Musculoskeletal Conference
Rapid revenue growth and strong clinical validation drive adoption of a personalized spine surgery platform, now expanded to both lumbar and cervical procedures. New reimbursement wins and technological innovations support continued U.S. market expansion.
Carlsmed Earnings Call Transcript: Q4 2025
Achieved 86% revenue growth in 2025, driven by strong lumbar platform performance and new cervical product launches. Gross margins expanded to 75.3%, and 2026 revenue is guided to grow 44% at the midpoint. Cash position remains strong after a successful IPO.
Carlsmed Annual report: Q4 2025
Carlsmed has published its Q4 2025 annual report on February 25, 2026.
Carlsmed Earnings release: Q4 2025
Carlsmed released its Q4 2025 earnings on February 25, 2026, summarizing the period's financial results.
Carlsmed® Reports Fourth Quarter and Full Year 2025 Financial Results
Fourth quarter revenue of $15.2 million; 61% growth YoY Full year revenue of $50.5 million; 86% growth YoY CARLSBAD, Calif., Feb. 25, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsme...
Carlsmed, Inc. To Participate in the 2026 Canaccord Genuity Musculoskeletal Conference
CARLSBAD, Calif., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), today announced that Mike Cordonnier, CEO and Chairman, will be presenting at the 2026 ...
Carlsmed announces first procedure with corra Cervical Plating System
Carlsmed (CARL) announced the first personalized cervical plating procedure using the corra Cervical Plating System, the latest addition to its portfolio of personalized spine surgery solutions. The c...