Carlsmed, Inc. (CARL)
NASDAQ:CARL
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Earnings Data
Report Date
Aug 27, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.39Last Year’s EPS
-1.47Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
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.Company Guidance
Strong Revenue Growth
Q1 2026 revenue of $16.1M, up 58% year-over-year from $10.2M, driven by expansion of surgeon user base and increased unit volume sales.
Surgeon Adoption and User Growth
Total surgeon user base grew more than 60% year-over-year; strong uptake from early-career and post-fellowship surgeons, with ~20% of existing surgeon users trained on the newly launched cervical platform.
Material Gross Margin Expansion and Production Efficiency
Gross margin improved to 77.1% from 74.9% in Q1 2025 (+220 basis points). Lead time reduced by more than 30% to six business days due to investments in digital production, supporting scalable production and sustained mid-to-high 70s gross margins guidance.
Compelling Peer-Reviewed Clinical Data
Published Global Spine Journal data showing a 74% reduction in two-year revision rates for Aprivo patients (4.3% vs 16.6% for stock devices), demonstrating clinically meaningful reduction in reoperations and key complications.
Product and Pipeline Progress
First Aprivo bilateral lumbar fusion procedure completed; on track for full commercial launch in Q4 2026. Cora patient-specific cervical plating system completed first procedure (Feb 2026) and is on track for Q4 launch.
Reimbursement and Policy Developments
Strong inpatient reimbursement profile: Aprivo lumbar currently covered by 11 MS-DRG codes; CMS FY2027 proposed rule would simplify coding so all Aprivo lumbar procedures map to three higher-paying MS-DRGs (pending finalization). Aprivo cervical has an NTAP up to ~$21,125 (renewed preliminarily for FY2027).
Raised Full-Year Guidance
Increased full-year 2026 revenue guidance to $72M–$77M, representing ~48% growth at the midpoint versus full-year 2025, and expectation of operating expense leverage as revenue ramps.
Solid Balance Sheet Liquidity
Cash and investments of $97.1M as of 03/31/2026 and $15.6M outstanding on a $50M debt facility (no near-term draws expected), providing runway and optional non-dilutive capital.
CARL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CARL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $8.92 | $9.84 | +10.31% |
Feb 25, 2026 | $12.56 | $14.56 | +15.92% |
Nov 06, 2025 | $11.89 | $13.66 | +14.89% |
Aug 28, 2025 | $13.69 | $13.30 | -2.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Carlsmed, Inc. (CARL) report earnings?
Carlsmed, Inc. (CARL) is schdueled to report earning on Aug 27, 2026, After Close (Confirmed).
What is Carlsmed, Inc. (CARL) earnings time?
Carlsmed, Inc. (CARL) earnings time is at Aug 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CARL EPS forecast?
CARL EPS forecast for the fiscal quarter 2026 (Q2) is -0.39.