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CARL Stock Chart & Stats
$10.80
$0.65(6.02%)
At close: 4:00 PM EDT
$10.80
$0.65(6.02%)
Day’s Range― - ―
52-Week Range$8.50 - $17.19
Previous Close$11.45
Volume46.52K
Average Volume (3M)146.16K
Market Cap
$342.26M
Enterprise Value$214.83
Total Cash (Recent Filing)$89.22M
Total Debt (Recent Filing)$21.92M
Price to Earnings (P/E)―
Beta2.22
Next Earnings
Nov 05, 2026EPS Estimate
-0.4Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-1.36
Shares Outstanding27,184,933
10 Day Avg. Volume129,263
30 Day Avg. Volume146,164
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)1.78
Price to Sales (P/S)3.48
P/FCF Ratio-5.93
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$19.50Price Target Upside80.56% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.48
Revenue Forecast (FY)$74.86M
Bulls Say, Bears Say
Bulls Say
Revenue Growth & Surgeon AdoptionSustained double-digit top-line growth and rapid surgeon adoption indicate durable commercial traction. A >60% growth in trained surgeon users plus 58% revenue growth suggests expanding procedure volume and referral effects, supporting long-term revenue scalability as clinical adoption and training create a structural demand base.
High Gross Margins & Scalable ProductionConsistently mid-to-high 70s gross margins and a faster digital production workflow point to strong unit economics and manufacturing scalability. Shorter lead times reduce working capital and support higher throughput; durable margin profiles enable operating leverage as volumes grow if sales efficiencies continue to improve.
Strong Liquidity And Modest LeverageA near-term cash balance close to $100M combined with minimal outstanding debt provides runway to invest in commercialization and product launches. Modest leverage (debt small relative to equity per balance sheet) gives financial flexibility to fund growth initiatives without immediate refinancing pressure, supporting a multi-quarter scale-up.
Bears Say
Persistent Cash BurnOperating cash flow and free cash flow have been materially negative for multiple years, with cash outflows increasing in 2025. This persistent burn necessitates continued external funding or rapid margin realization to avoid dilution, creating a structural financing risk until the company reaches consistent positive cash generation.
Rising OpEx & Deepening LossesAggressive increases in R&D, sales & marketing, and G&A are widening GAAP losses and negative adjusted EBITDA. If operating expense growth outpaces revenue leverage, structural profitability will be delayed; sustained elevated OpEx undermines the path to breakeven even with strong unit margins.
Reimbursement & Mix UncertaintyPotential reimbursement tailwinds (proposed CMS coding changes, NTAP renewals) remain subject to finalization, creating execution risk for hospital adoption economics. Concurrently, growth of lower‑ASP cervical procedures could depress blended ASPs and margins if mix shifts faster than efficiency gains, threatening margin sustainability.
Carlsmed, Inc. News
CARL FAQ
What was Carlsmed, Inc.’s price range in the past 12 months?
Carlsmed, Inc. lowest stock price was $8.50 and its highest was $17.19 in the past 12 months.
What is Carlsmed, Inc.’s market cap?
Carlsmed, Inc.’s market cap is $342.26M.
When is Carlsmed, Inc.’s upcoming earnings report date?
Carlsmed, Inc.’s upcoming earnings report date is Nov 05, 2026 which is in 90 days.
How were Carlsmed, Inc.’s earnings last quarter?
Carlsmed, Inc. released its earnings results on Aug 05, 2026. The company reported -$0.39 earnings per share for the quarter, beating the consensus estimate of -$0.396 by $0.006.
Is Carlsmed, Inc. overvalued?
According to Wall Street analysts Carlsmed, Inc.’s price is currently Undervalued.
Does Carlsmed, Inc. pay dividends?
Carlsmed, Inc. does not currently pay dividends.
What is Carlsmed, Inc.’s EPS estimate?
Carlsmed, Inc.’s EPS estimate is -0.4.
How many shares outstanding does Carlsmed, Inc. have?
Carlsmed, Inc. has 27,184,933 shares outstanding.
What happened to Carlsmed, Inc.’s price movement after its last earnings report?
Carlsmed, Inc. reported an EPS of -$0.39 in its last earnings report, beating expectations of -$0.396. Following the earnings report the stock price went up 1.032%.
Which hedge fund is a major shareholder of Carlsmed, Inc.?
Currently, no hedge funds are holding shares in CARL
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Carlsmed, Inc. Stock Smart Score
Neutral
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10
Analyst Consensus
Strong Buy
Average Price Target:
$19.50 (80.56% Upside)
$19.50 (80.56% Upside)
Blogger Sentiment
Bullish
CARL Sentiment 100%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Decreased
By 23.2K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.2%
Last 30 Days ▼ 4.0%
Last 30 Days ▼ 4.0%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-25.25%
12-Months-Change
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
105.36%
Trailing 12-Months
Company Description
Carlsmed, Inc.
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.
CARL Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call conveyed strong commercial and clinical momentum: robust top-line growth (Q1 revenue +58%), significant surgeon adoption (+60% surgeon users YoY), production efficiencies (lead time cut >30%, gross margin +220 bps), compelling peer‑reviewed clinical outcomes (74% reduction in two-year revisions), and constructive reimbursement developments (NTAP renewal and proposed favorable CMS coding). Offsetting these positives are rising operating expenses (+61% YoY), deeper GAAP losses and negative adjusted EBITDA, and higher cash burn from operations. The company raised full-year revenue guidance and expects operating leverage as revenue scales, while some policy items remain preliminary. On balance, the business appears to be in a growth-investment phase with improving unit economics and strong market validation but elevated near-term losses as it invests to scale.View all CARL earnings summariesCARL Stock 12 Month Forecast
Average Price Target
$19.50
▲(80.56% Upside)
Technical Analysis
Ownership Overview
33.59% Insiders
6.15% Mutual Funds
1.56% Other Institutional Investors
56.25% Public Companies and
Individual Investors