Carlsmed, Inc. (CARL)

NASDAQ: CARL · Real-Time Price · USD

16.37

+0.08 (0.49%)

Sep 1, 2026, 4:00 PM EDT - Market closed

Carlsmed Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	63.3	50.51	27.17	13.78
Revenue Growth	65.39%	85.94%	97.16%	-
Gross Profit	48.5	38.04	20.05	9.9
Operating Income	-38.67	-30.57	-24.12	-18.59
Net Income	-36.35	-30.22	-24.85	-18.9
Earnings Per Share	-1.43	-2.12	-6.11	-4.86
EPS Growth	-	-	-	-

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Investments	89.22	109.79	40.13	7.22
Total Debt	21.92	17.41	17.18	11.39
Net Cash (Debt)	67.31	92.38	22.95	-4.17
Net Cash Growth	326.94%	302.61%	-	-
Net Cash Per Share	2.64	6.50	5.64	-1.07

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Operating Cash Flow	-34.15	-28.98	-25.47	-17.48
Capital Expenditures	-0.43	-0.64	-0.18	-0.14
Free Cash Flow	-34.58	-29.62	-25.65	-17.62
Free Cash Flow Growth	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Gross Margin	76.63%	75.31%	73.80%	71.88%
Operating Margin	-61.09%	-60.53%	-88.80%	-134.93%
Pretax Margin	-57.42%	-58.67%	-89.30%	-137.16%
Profit Margin	-57.42%	-59.82%	-91.47%	-137.16%
FCF Margin	-54.63%	-58.64%	-94.41%	-127.85%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
PS Ratio	7.06	6.50	-	-