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Stocks · Health care · Surgical & Medical Instruments & Apparatus

CARLSMED, INC.

CARL Clue Score57
United States Fiscal year ends December CIK 0001794546
$14.42 +2.63% Close, 9 Oct 2026
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Price $14.42 +5.49% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 23 Jul 2025. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2024Revenue27.2Operating income−24.1Net income−24.3EPS, diluted−6.11Fiscal year 2025Revenue50.5 +85.9%Operating income−30.6Net income−29.6EPS, diluted−2.12
FY2024FY2025
Revenue 27.2 50.5
Growth +85.9%
Operating income −24.1 −30.6
Net income −24.3 −29.6
Growth
EPS, diluted −6.11 −2.12

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2024Gross margin73.8%Operating margin−88.8%Net margin−89.3%Free cash flow margin−94.4%Fiscal year 2025Gross margin75.3%Operating margin−60.5%Net margin−58.7%Free cash flow margin−58.6%
FY2024FY2025
Gross margin 73.8% 75.3%
Operating margin −88.8% −60.5%
Net margin −89.3% −58.7%
Free cash flow margin −94.4% −58.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2024Operating cash flow−25.5Capital expenditure−0.2Free cash flow−25.6Fiscal year 2025Operating cash flow−29.0Capital expenditure−0.6Free cash flow−29.6
FY2024FY2025
Operating cash flow −25.5 −29.0
Capital expenditure −0.2 −0.6
Free cash flow −25.6 −29.6
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2024Cash40.1Total debt15.4Net cash (debt)24.7Shareholders’ equity−70.6Fiscal year 2025Cash85.8Total debt15.3Net cash (debt)70.4Shareholders’ equity98.9Debt to equity0.16
FY2024FY2025
Cash 40.1 85.8
Total debt 15.4 15.3
Net cash (debt) 24.7 70.4
Shareholders’ equity −70.6 98.9
Debt to equity n/a 0.16

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Operations
−25.5 −29.0
Growth
0.1 0.3
Investment
−0.2 −0.6
calc −25.6 −29.6
Growth
calc −6.31 −2.08
−0.2 −25.5
Financing
58.5 100.1

† The diluted share count jumps at 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.