Carlsmed, Inc. (CARL)
NASDAQ:CARL
CARL Stock Chart & Stats
$10.00
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Market closed
$10.00
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Day’s Range― - ―
52-Week Range$8.87 - $17.19
Previous CloseN/A
VolumeN/A
Average Volume (3M)144.08K
Market Cap
$267.19M
Enterprise Value$198.81M
Total Cash (Recent Filing)$109.79M
Total Debt (Recent Filing)$17.41M
Price to Earnings (P/E)―
Beta3.01
Next Earnings
Apr 30, 2026EPS Estimate
-0.38Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-0.32
Shares Outstanding26,731,993
10 Day Avg. Volume71,957
30 Day Avg. Volume144,080
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 Cap0.74
Enterprise Value/Revenue3.94
Enterprise Value/Gross Profit5.23
Enterprise Value/Ebitda-5.87
Forecast
1Y Price Target
$19.50Price Target Upside95.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.64
Revenue Forecast (FY)$72.81M
Bulls Say, Bears Say
Bulls Say
Rapid Revenue GrowthSharp, sustained top-line acceleration demonstrates durable commercial adoption of Carlsmed’s personalized spine solutions. Rapid revenue growth supports scaling of fixed-cost R&D and manufacturing infrastructure, improving the odds that operating leverage will materialize over the next several quarters if growth sustains.
High Gross MarginsMid-70% gross margins indicate attractive unit economics for patient-specific implants and digital workflows. Durable high margins provide a strong structural lever for eventual profitability as revenue scales, allowing incremental dollars to more meaningfully flow to EBITDA once SG&A and R&D growth moderates.
Strong Cash Runway And Low LeverageA sizable post-IPO cash balance and modest debt give management financial flexibility to fund commercialization, R&D and multiple launches without immediate dilution. This runway materially reduces short-term financing risk and supports investment to convert surgeon adoption into deeper utilization.
Bears Say
Persistent Cash BurnOperating cash flow has been consistently negative and increased in 2025, indicating continued reliance on financing until adjusted EBITDA and operating cash flow turn positive. Sustained negative free cash flow elevates execution and refinancing risk if growth or margin improvements slow.
Rising Operating ExpensesMaterial OpEx expansion—driven by R&D, sales & marketing and G&A—has widened GAAP losses. Unless substantial operating leverage appears, persistent high SG&A and R&D run rates will delay profitability, making positive margin trends contingent on very strong continued revenue growth.
Execution & Utilization RiskMultiple product launches and an early-stage user base mean adoption depth is still developing. Execution shortfalls in training, commercialization, or slower surgeon utilization per trained user would compress near-term revenue and delay achieving unit leverage, increasing the risk profile over the coming 2–6 months.
Carlsmed, Inc. News
CARL FAQ
What was Carlsmed, Inc.’s price range in the past 12 months?
Carlsmed, Inc. lowest stock price was $8.87 and its highest was $17.19 in the past 12 months.
What is Carlsmed, Inc.’s market cap?
Carlsmed, Inc.’s market cap is $267.19M.
When is Carlsmed, Inc.’s upcoming earnings report date?
Carlsmed, Inc.’s upcoming earnings report date is Apr 30, 2026 which is in 20 days.
How were Carlsmed, Inc.’s earnings last quarter?
Carlsmed, Inc. released its earnings results on Feb 25, 2026. The company reported -$0.32 earnings per share for the quarter, beating the consensus estimate of -$0.42 by $0.1.
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 -0.38.
How many shares outstanding does Carlsmed, Inc. have?
Carlsmed, Inc. has 26,731,993 shares outstanding.
What happened to Carlsmed, Inc.’s price movement after its last earnings report?
Carlsmed, Inc. reported an EPS of -$0.32 in its last earnings report, beating expectations of -$0.42. Following the earnings report the stock price went up 15.924%.
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
Underperform
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Analyst Consensus
Strong Buy
Average Price Target:
$19.50 (95.00% Upside)
$19.50 (95.00% Upside)
Blogger Sentiment
Bullish
CARL Sentiment 100%
Sector Average 69%
Sector Average 69%
Hedge Fund Trend
Decreased
By 23.2K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 0.8%
Last 30 Days ▼ 3.0%
Last 30 Days ▼ 3.0%
Fundamentals
Return on Equity
-263.64%
Trailing 12-Months
Asset Growth
151.08%
Trailing 12-Months
Company Description
Carlsmed, Inc.
Carlsmed, Inc. develops and operates a surgical platform for the treatment of complex adult spinal deformities that enables surgeons to harness clinical intelligence, advanced image recognition, and 3D printing technologies. Its product includes aprevo, a medical platform that makes surgical plans and devices tailored to the precise medical situation of every individual patient. It provides New Technology Add-On Payment (NTAP) reimbursement. The company was incorporated in 2018 and is based in Carlsbad, California.
CARL Earnings Call
Q4 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents a largely positive growth narrative: rapid top-line acceleration (86% YoY), strong mid-70s gross margins, validated clinical outcomes (74% reduction in reoperations), a successful IPO and a strong cash position, plus meaningful operational improvements (6-day lead time) and reimbursement wins (NTAP). Offsetting these positives are sizable increases in operating expenses, widening GAAP net losses and negative adjusted EBITDA as the company invests heavily in R&D, sales/marketing and commercialization of new indications. Given the company’s solid cash runway, clear product momentum, and confident 2026 guidance, the highlights materially outweigh the lowlights for a growth-stage, innovation-driven medical device company.View all CARL earnings summariesCARL Stock 12 Month Forecast
Average Price Target
$19.50
▲(95.00% Upside)
Technical Analysis
Ownership Overview
55.69% Insiders
6.16% Mutual Funds
5.76% Other Institutional Investors
30.20% Public Companies and
Individual Investors
Options Prices
Currently, No data available
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