Carlsmed, Inc. CARL

Annual Quarterly

FY2025 · ended Dec 31, 2025 · Revenue $50.51M · Filed Feb 25, 2026

Carlsmed, Inc. (CARL) files with the SEC under industry code 3841, Surgical & Medical Instruments & Apparatus. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $50.5 million and a net loss of $29.6 million. Free cash flow was -$29.6 million. As of Jun 30, 2026 it held $70.2 million in cash and investments and $21.9 million in total debt.

Revenue (TTM)
$63.30M
Net income (TTM)
$-36.34M
Operating cash flow (TTM)
$-34.15M
Free cash flow (TTM)
$-34.58M
EPS (TTM)
$-1.43
Dividend per share
None
Shares outstanding
26.73M
Net cash
$48.33M
as of Jun 30, 2026
Operating margin
-61.1%
FY 2026

Company profile

Industry
Surgical & Medical Instruments & Apparatus (SIC 3841)
Listed as
CARL (Nasdaq)
Fiscal year ends
December 31
Incorporated in
DE
Headquarters
Carlsbad, CA
SEC filer status
, Emerging growth company
SEC CIK
1794546

Other Surgical & Medical Instruments & Apparatus companies

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Key figures

Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.

FY 2025
Dec 31, 2025
Revenue
$50.5M
Operating income
-$30.6M
Net income
-$29.6M
Diluted EPS
-$2.12
Operating cash flow
-$29.0M
Free cash flow
-$29.6M
Total assets
$130.1M
Total liabilities
$31.3M
Stockholders' equity
$98.9M
Cash and investments
$109.8M
Total debt
$17.4M

Recent SEC filings

Form Description Filed Period
8-K Current report
Officer or director change, Regulation FD disclosure
 Sep 30, 2026 Sep 24, 2026
8-K Current report
Officer or director change, Regulation FD disclosure
 Sep 8, 2026 Sep 4, 2026
10-Q Quarterly report Aug 5, 2026 Jun 30, 2026
8-K Current report
Results of operations
 Aug 5, 2026 Aug 5, 2026
8-K Current report
Shareholder vote results
 Jun 3, 2026 Jun 3, 2026
10-Q Quarterly report May 5, 2026 Mar 31, 2026

All 97 Carlsmed, Inc. SEC filings

Source: SEC EDGAR filings. This is company-reported data, not investment advice.