NASDAQ:CARL
Carlsmed, Inc.
Carlsmed, Inc.'s revenue grew 85.9% in fiscal 2025 to $50.5M while operating margin rose to −60.5%. Free cash flow was −$29.6M, −58.6% of revenue, and the diluted share count rose 249.7%.Summary generated from Carlsmed, Inc.'s SEC filings. Latest annual report filed Feb 25, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$50.5M
Revenue growth+85.9%
Revenue, 5-yr CAGRn/a
Gross margin75.3%
Operating margin−60.5%
Net margin−58.7%
ROICn/a
Return on equity−209.9%
Debt / equity0.16
Free cash flow−$29.6M
FCF margin−58.6%
Share count change+249.7%
Financials
| Item | 2024 | 2025 |
|---|---|---|
| Revenue | 27 | 51 |
| Operating income | −24 | −31 |
| Net income | −24 | −30 |
| Free cash flow | −26 | −30 |
Recent filings
- 4Insider transaction report
Oct 6, 2026 - 4Insider transaction report
Oct 1, 2026 - 8-KDirector or officer change
Sep 30, 2026 - 8-KDirector or officer change
Sep 8, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Aug 5, 2026 - 8-KResults of operations and financial condition
Aug 5, 2026 - 8-KResults of a shareholder vote
Jun 3, 2026 - 10-QQuarterly report for the period ended Mar 31, 2026
May 5, 2026