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Carlsmed, Inc. (CARL)
NASDAQ:CARL
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.38Last Year’s EPS
-1.39Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
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.Company Guidance
Strong Revenue Growth
Full-year 2025 revenue of $50.5M, up 86% year-over-year from $27.2M in 2024; Q4 2025 revenue of $15.2M, up 61% year-over-year from $9.4M.
High and Improving Gross Margins
Full-year gross margin of 75.3% (151 basis points expansion year-over-year); Q4 gross margin 76.5% vs 74.7% in Q4 2024, driven by lower contract manufacturing costs and internal efficiencies.
Successful IPO and Strong Balance Sheet
Completed IPO in July 2025 raising over $100M; cash and investments of $109.9M at Dec 31, 2025 with only $15.6M outstanding under a $50M debt facility.
Compelling Clinical Outcomes
Two-year retrospective cohort data reported a 74% reduction in reoperation rates for aprevo lumbar patients versus a separately published cohort receiving conventional stock implants.
Reimbursement and Commercial Wins
Received CMS NTAP for aprevo cervical providing up to $21,125 additional reimbursement per inpatient cervical procedure; guidance that lumbar reimbursement foundation includes 3 MSDRG codes.
Operational Excellence — Lead Time Reduction
Production lead time reduced to 6 business days (25% reduction vs 8 business days in Q4 prior year; 20 days a year prior), supporting faster case turnover and new-surgeon adoption.
Rapid Surgeon Adoption and Commercial Expansion
Added 101 new fully trained surgeon users in 2025; doubled U.S. sales regions and partnered with >100 contracted sales agents to expand coverage and service.
Product and Platform Innovation
Launched Myaprevo ecosystem (mobile and web), commercialized aprevo cervical in December 2025, and announced first-in-human bilateral posterior aprevo and corra personalized cervical plate (on track for H2 2026 launches).
2026 Growth Guidance
Provided 2026 revenue guidance of $70M–$75M, implying ~44% growth at the midpoint versus 2025, reflecting confident near-term growth outlook.
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 |
|---|---|---|---|
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 Apr 30, 2026, After Close (Confirmed).
What is Carlsmed, Inc. (CARL) earnings time?
Carlsmed, Inc. (CARL) earnings time is at Apr 30, 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 (Q1) is -0.38.