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Carlsmed, Inc. (CARL)
NASDAQ:CARL
CARL Stock Chart & Stats
$12.32
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Market closed
$12.32
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Day’s Range― - ―
52-Week Range$10.65 - $17.19
Previous CloseN/A
VolumeN/A
Average Volume (3M)131.87K
Market Cap
$329.34M
Enterprise Value$259.25M
Total Cash (Recent Filing)$109.79M
Total Debt (Recent Filing)$17.41M
Price to Earnings (P/E)―
Beta3.02
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. Volume240,464
30 Day Avg. Volume131,866
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 Cap0.79
Enterprise Value/Revenue5.13
Enterprise Value/Gross Profit6.82
Enterprise Value/Ebitda-7.65
Forecast
1Y Price Target
$19.75Price Target Upside60.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.64
Revenue Forecast (FY)$70.30M
Bulls Say, Bears Say
Bulls Say
Accelerating Revenue GrowthSustained, large topline acceleration demonstrates strong market demand and adoption of Carlsmed’s patient-specific spine solutions. Durable double-digit growth at scale supports operating leverage potential, expands addressable market share, and underpins multi-quarter revenue visibility for commercialization investments.
High And Stable Gross MarginsMid-70s gross margins indicate strong unit economics for personalized implants and justify ongoing commercialization spend. High, stable margins provide structural capacity to absorb SG&A and R&D while preserving potential path to profitability once volume scales and fixed-cost dilution continues over multiple quarters.
Strong Cash Position / RunwayA sizeable cash balance from the IPO provides meaningful runway to fund commercialization, product launches, and R&D without immediate dilution. This financial flexibility reduces near-term refinancing risk and allows the company to execute multi-quarter growth and clinical initiatives critical to durable market penetration.
Bears Say
Rising Operating ExpensesRapid OpEx expansion to support sales, marketing and R&D can outpace revenue benefits and delay operating leverage. If revenue growth slows or per-surgeon utilization ramps more slowly than expected, elevated fixed and semi-fixed costs will prolong the timeline to adjusted EBITDA and cash‑flow breakeven.
Persistent Cash Burn / Negative Operating Cash FlowConsistent negative operating cash flows signal funding dependency beyond internal cash generation. Continued burn at current levels increases the probability the company will need additional capital before reaching sustained profitability, which can pressure strategic flexibility and prolong reliance on external financing.
Early-Stage Utilization Per SurgeonAdoption breadth is promising but depth is immature: low utilization per surgeon means revenue from new users will be gradual. Durable revenue expansion depends on converting new users into frequent adopters; execution risk in training, reimbursement navigation, and clinical workflow integration could slow sustainable per-surgeon revenue growth.
Carlsmed, Inc. News
CARL FAQ
What was Carlsmed, Inc.’s price range in the past 12 months?
Carlsmed, Inc. lowest stock price was $10.65 and its highest was $17.19 in the past 12 months.
What is Carlsmed, Inc.’s market cap?
Carlsmed, Inc.’s market cap is $329.34M.
When is Carlsmed, Inc.’s upcoming earnings report date?
Carlsmed, Inc.’s upcoming earnings report date is Apr 30, 2026 which is in 54 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
Neutral
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Analyst Consensus
Strong Buy
Average Price Target:
$19.75 (60.31% Upside)
$19.75 (60.31% 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 ▼ 1.0%
Last 30 Days ▼ 4.4%
Last 30 Days ▼ 4.4%
Fundamentals
Return on Equity
-47.62%
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
$19.75
▲(60.31% Upside)
Technical Analysis
Ownership Overview
55.69% Insiders
6.16% Mutual Funds
5.76% Other Institutional Investors
30.32% Public Companies and
Individual Investors
Options Prices
Currently, No data available
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