Carlsmed, Inc. (CARL) Financial Statements
Industry: Surgical & Medical Instruments & Apparatus
In fiscal 2025, Carlsmed reported revenue of $50.5M. Net income was -$29.6M (a -58.7% net margin), or -$2.12 per diluted share. Gross margin was 75.3% and operating margin was -60.5%. Operating activities generated -$29.0M of cash, leaving -$29.6M of free cash flow. At fiscal year end, Carlsmed held $130.1M in total assets against $31.3M in total liabilities, including $85.8M of cash and equivalents.
Open the full interactive Carlsmed financials → Quarterly statements, key ratios, valuation history and price charts.
Carlsmed Key Stats
| Share Price | $14.47 |
|---|---|
| Market Cap | $393.5M |
| 52-Week Range | $8.83 – $16.99 |
| Shares Outstanding | 27.2 million (basic, 2026 Q2) |
Carlsmed Income Statement
| FY 2025 | |
|---|---|
| Revenue | $50.5M |
| Gross Profit | $38.0M |
| Operating Income | -$30.6M |
| Pre-Tax Income | -$29.6M |
| Income Tax | $0 |
| Net Income | -$29.6M |
| Diluted EPS | -$2.12 |
Carlsmed Quarterly Results
| 2025 Q2 | 2025 Q3 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $12.1M | $13.1M | $16.1M | $18.9M |
| Net Income | -$6.8M | -$8.5M | -$8.7M | -$10.5M |
| Diluted EPS | -$1.47 | -$0.40 | -$0.32 | -$0.39 |
Carlsmed Balance Sheet
| FY 2025 | |
|---|---|
| Cash & Equivalents | $85.8M |
| Current Assets | $126.7M |
| Total Assets | $130.1M |
| Current Liabilities | $14.3M |
| Total Long-Term Debt | $15.3M |
| Total Liabilities | $31.3M |
| Shareholders' Equity | $98.9M |
Carlsmed Cash Flow Statement
| FY 2025 | |
|---|---|
| Cash From Operations | -$29.0M |
| Cash From Investing | -$25.5M |
| Cash From Financing | $100.1M |
| Free Cash Flow | -$29.6M |
Figures from Carlsmed's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Carlsmed financials page for every line item.
Carlsmed Company Profile
| Ticker | CARL |
|---|---|
| Exchange | Nasdaq |
| Industry | Surgical & Medical Instruments & Apparatus |
| Headquarters | Carlsbad, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Emerging growth company |
| SEC CIK | 0001794546 |
Frequently Asked Questions
What was Carlsmed's revenue in fiscal 2025?
Carlsmed (CARL) reported revenue of $50.5M for fiscal 2025.
What was Carlsmed's net income in fiscal 2025?
Carlsmed reported net income of -$29.6M for fiscal 2025.
What was Carlsmed's earnings per share (EPS) in fiscal 2025?
Carlsmed's diluted EPS was -$2.12 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Carlsmed generate in fiscal 2025?
Carlsmed generated -$29.6M of free cash flow in fiscal 2025.
What was Carlsmed's revenue last quarter?
In its most recent reported quarter (2026 Q2), Carlsmed reported revenue of $18.9M.
How much debt does Carlsmed have?
Carlsmed reported $15.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Carlsmed are outstanding?
Carlsmed reported a weighted average of 27.2 million basic shares outstanding in 2026 Q2.
What is Carlsmed's market cap?
Based on its latest closing price, Carlsmed (CARL) has a market capitalization of about $393.5M.
When does Carlsmed's fiscal year end?
Carlsmed's fiscal year end, as registered with the SEC, is December 31.
Where is Carlsmed headquartered?
Carlsmed lists its business address in Carlsbad, California in its SEC filings.