Carlsmed Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	44.75	27.17	13.78
Revenue Growth (YoY)	224.82%	97.16%	-
Cost of Revenue	11.3	7.12	3.88
Gross Profit	33.46	20.05	9.9
Selling, General & Admin	44.64	29.87	21.1
Research & Development	14.77	14.3	7.4
Operating Expenses	59.41	44.17	28.49
Operating Income	-25.95	-24.12	-18.59
Interest Expense	-1.48	-1.32	-0.64
Interest & Investment Income	2.08	1.33	0.33
Other Non Operating Income (Expenses)	-0.39	-0.14	-
Pretax Income	-25.74	-24.26	-18.9
Net Income	-25.74	-24.26	-18.9
Preferred Dividends & Other Adjustments	0.58	0.59	-
Net Income to Common	-26.33	-24.85	-18.9
Shares Outstanding (Basic)	9	4	4
Shares Outstanding (Diluted)	9	4	4
Shares Change (YoY)	120.50%	4.62%	-
EPS (Basic)	-3.07	-6.11	-4.86
EPS (Diluted)	-3.07	-6.11	-4.86
Free Cash Flow	-28.49	-25.65	-17.62
Free Cash Flow Per Share	-3.32	-6.31	-4.53
Gross Margin	74.76%	73.80%	71.88%
Operating Margin	-57.99%	-88.80%	-134.93%
Profit Margin	-58.82%	-91.47%	-137.16%
Free Cash Flow Margin	-63.66%	-94.41%	-127.85%
EBITDA	-25.73	-23.98	-18.46
EBITDA Margin	-57.50%	-88.26%	-133.94%
D&A For EBITDA	0.22	0.15	0.14
EBIT	-25.95	-24.12	-18.59
EBIT Margin	-57.99%	-88.80%	-134.93%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q