Carlsmed, Inc. CARL R2KPHARMA
Company Overview
Carlsmed, Inc., a commercial-stage medical technology company, designs, manufactures, and markets AI-enabled personalized spine surgery solutions. The company develops aprevo, a comprehensive technology platform for spine fusion surgery procedures. Its aprevo platform includes proprietary surgical planning software, using outcomes-based algorithms that are aided with artificial intelligence, and resulting custom-built, anatomically designed vertebral interbody implants. The company was incorporated in 2018 and is based in Carlsbad, California.
Why Investors Should Care
Revenue has grown at a 91.5% CAGR over the past five years.
Carries low leverage with a debt-to-equity ratio of 0.26.
Recent Developments
- Dec 2025 Revenue of $50.51M (+85.9% YoY); net profit $-29.63M.
- Trailing 12 Months Year-on-year growth — revenue +56.7%.
- 5-Year Trend Long-term compounding — revenue CAGR 91.5%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 91.47% |
| 1 Year: | 56.70% |
Stock Price Performance
| 1 Year: | +5.44% |
| 6 Months: | +42.31% |
| 3 Months: | +26.90% |
| 1 Month: | -1.96% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMABelow
- Price vs 200-DMAAbove
- RSI (14)51.17 · Neutral
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Compounding revenue at 91.5% over 5 years.
- In a confirmed uptrend (50-DMA above 200-DMA).
CONS
No notable concerns flagged.
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Healthcare).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CARL Carlsmed, Inc. R2KPHARMA | 14.53 | -13.45 | $396.71M | 0.00% | -26.39% | -66.14% | 91.47% | - |
| 2 | LLY Eli Lilly and Company SPXR3KPHARMA | 1,273.46 | 42.83 | $1.14T | 0.60% | - | 102.29% | 7.20% | 11.41% |
| 3 | JNJ Johnson & Johnson SPXR3KPHARMA | 263.81 | 30.60 | $635.76B | 1.98% | 14.88% | 25.74% | 2.43% | 4.76% |
| 4 | ABBV AbbVie Inc. SPXR3KPHARMA | 285.64 | 80.69 | $504.76B | 2.54% | 10.47% | -129.24% | 1.75% | -29.06% |
| 5 | UNH UnitedHealth Group Incorporated SPXR3KPHARMA | 418.09 | 26.85 | $375.28B | 2.47% | 9.74% | 14.15% | 10.40% | 5.43% |
| 6 | MRK Merck & Co., Inc. SPXR3KPHARMA | 145.27 | 116.22 | $358.41B | 2.31% | - | 6.96% | 5.64% | 10.01% |
| 7 | NVS Novartis AG PHARMA | 151.12 | 22.83 | $287.24B | 3.36% | 21.09% | 30.35% | 9.25% | 26.22% |
| 8 | AZN AstraZeneca PLC NDXPHARMA | 171.49 | 25.63 | $265.96B | 2.00% | 15.97% | 21.96% | 9.82% | 45.96% |
| 9 | TMO Thermo Fisher Scientific Inc. SPXR3KPHARMA | 673.82 | 36.30 | $249.14B | 0.29% | 8.14% | 13.51% | 8.81% | 12.95% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | - | 6.08M | 6.59M | 10.19M | 12.08M | 13.07M | 16.12M | 18.94M |
| Gross Profit | - | 4.56M | 4.80M | 7.64M | 8.87M | 9.93M | 12.43M | 14.54M |
| Operating Income | - | -6.32M | -7.78M | -5.72M | -6.50M | -9.04M | -9.28M | -11.04M |
| Net Income | -5.45M | -6.28M | -7.81M | -5.73M | -6.77M | -8.53M | -8.70M | -10.51M |
| Diluted EPS | - | -1.55 | -2.06 | -1.47 | -1.47 | -0.40 | -0.32 | -0.39 |
| R&D Expense | - | 4.00M | 4.04M | 3.15M | 4.16M | 4.45M | 5.18M | 6.04M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue | 13.78M | 27.16M | 50.51M |
| Cost of Revenue | 3.88M | 7.12M | 12.47M |
| Gross Profit | 9.90M | 20.05M | 38.04M |
| Operating Expenses | 28.49M | 44.17M | 68.61M |
| Operating Income | -18.59M | -24.12M | -30.57M |
| EBITDA | -18.12M | -22.79M | -27.92M |
| Interest Expense | 641.00K | 1.32M | 1.43M |
| Pretax Income | -18.90M | -24.26M | -29.63M |
| Tax Provision | - | - | - |
| Net Income | -18.90M | -24.26M | -29.63M |
| Diluted EPS | -4.25 | -6.11 | -2.12 |
| R&D Expense | - | 14.30M | 17.02M |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Total Assets | - | 51.82M | 130.12M |
| Total Equity | -46.13M | -70.63M | 98.87M |
| Cash & Equivalents | 7.22M | 40.12M | 85.79M |
| Long Term Debt | - | 15.41M | 15.35M |
| Total Liabilities | - | 26.23M | 31.25M |
| Current Liabilities | - | 8.82M | 14.28M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2024 | Dec 2025 |
|---|---|---|
| Operating Cash Flow | -25.47M | -28.98M |
| Investing Cash Flow | -180.00K | -25.48M |
| Financing Cash Flow | 58.50M | 100.13M |
| Capital Expenditure | -180.00K | -642.00K |
| Free Cash Flow | -25.65M | -29.62M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Gross Margin % | 71.9% | 73.8% | 75.3% |
| Operating Margin % | -134.9% | -88.8% | -60.5% |
| Net Margin % | -137.2% | -89.3% | -58.7% |
| ROE % | 41.0% | 34.3% | -30.0% |
| ROCE % | - | -56.1% | -26.4% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Jupiter Topco LLC | 4.58% | 1.25M | $18.05M |
| 2 | Parkman Healthcare Partners LLC | 2.19% | 597.32K | $8.61M |
| 3 | Blackrock Inc. | 1.95% | 532.59K | $7.68M |
| 4 | KCM Capital Inc | 1.61% | 440.00K | $6.34M |
| 5 | Pier Capital, LLC | 1.37% | 373.68K | $5.39M |
| 6 | Millennium Management Llc | 1.08% | 295.91K | $4.27M |
| 7 | Palumbo Wealth Management Llc | 0.98% | 267.30K | $3.85M |
| 8 | Vanguard Capital Management LLC | 0.87% | 238.73K | $3.44M |
| 9 | Schonfeld Strategic Advisors Llc | 0.82% | 224.80K | $3.24M |
| 10 | Geode Capital Management, LLC | 0.75% | 204.66K | $2.95M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for CARL
CARL: Carlsmed Inc Latest Stock Price, Analysis, News and Trading Ideas - Stocktwits
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Will Carlsmed, Inc. (CARL) Report Negative Earnings Next Week? What You Should Know - Yahoo Finance
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Carlsmed, Inc. (NASDAQ:CARL) Stock Has Consensus Target Price of $19.25 - MarketBeat
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After exercising options, Carlsmed (CARL)'s COO sells 747 shares at $14.39. - Stock Titan
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Workday stock drops 5%+ after CEO Carl Eschenbach steps down - SiliconANGLE
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CARL — Frequently Asked Questions
What is the current share price of Carlsmed, Inc. (CARL)?
As of 2026-10-23 16:27 PDT, Carlsmed, Inc. (CARL) trades at $14.53 on NasdaqGS. Its 52-week range is $8.83 to $16.99.
What is the market capitalisation of CARL?
Carlsmed, Inc. (CARL) has a market capitalisation of $396.71M on NasdaqGS.
What is the P/E ratio of CARL?
CARL trades at a trailing price-to-earnings (P/E) ratio of -13.45. The industry average P/E is 25.45. Its price-to-book (P/B) ratio is 4.66.
What is the return on equity (ROE) of CARL?
CARL has a return on equity (ROE) of -66.14%. Its return on capital employed (ROCE) is -26.39%.
Is CARL a good stock to buy?
This page provides a data-driven analysis of Carlsmed, Inc. (CARL), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.