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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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
73.8% 75.3%
−88.8% −60.5%
−89.3% −58.7%
−94.4% −58.6%
Spending
52.7% 33.7%
30.9% 32.8%
0.7% 1.3%
Returns
n/a −30.0%
−46.8% −22.8%
Balance and payout
n/a 0.16
50.6% 24.0%