Stocks Health care CARL
NASDAQ · Health careCarlsmed, Inc. (CARL)
Carlsmed, Inc. brought in $63.3M of revenue over the twelve months to June 30, 2026. It posted a net loss of $36.3M. In fiscal 2025 capital spending exceeded operating cash flow by $29.6M. At June 30, 2026 it held $46.2M in cash against $15.4M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 5, 2026.
Key facts about Carlsmed, Inc.
- Net worth
- Carlsmed, Inc. has a market value (market cap) of $401.6M at the latest share price, and shareholders' equity of $84.2M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $50.5M (+85.9% year on year), with a net loss of $29.6M. Over the 12 months to June 30, 2026: revenue $63.3M, net loss $36.3M.
- Cash flow
- In fiscal 2025 operations used $29M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 5, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Carlsmed, Inc.'s next report was expected around November 5, 2026 and is not on file with the SEC yet.
What Carlsmed, Inc. does
Carlsmed, Inc. is registered with the SEC under industry code SIC 3841 (Surgical & Medical Instruments & Apparatus). Its shares trade on NASDAQ under the ticker CARL.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $50.5M | -$29.6M | -$2.12 | -$29.6M |
| 2025 | $27.2M | -$24.3M | -$6.11 | -$25.6M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where CARL ranks in Health care
Latest SEC filings
What Carlsmed, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 1, 2026
- September 30, 2026Executive or director change8-KCarlsmed appointed Richard Heppenstall as Chief Financial Officer to succeed Leo Greenstein and reaffirmed its full year 2026 revenue guidance.
- September 8, 2026
- August 14, 2026
- August 5, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 57% to $18.9M versus the same quarter last year; diluted EPS -$0.39 versus -$1.47.
- August 5, 2026
- June 3, 2026
- May 5, 2026Quarterly report 10-Q · period to March 31, 2026Revenue rose 58% to $16.1M versus the same quarter last year; diluted EPS -$0.32 versus -$1.47.
- May 5, 2026
- April 22, 2026
Insider trades
What the people running Carlsmed, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $29.3K worth of shares in the last 90 days and bought none on the open market. All of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 3, 2026 | Bertolini JeffreyChief Operating Officer | Exercised options | 747 | $4.4K |
| November 3, 2026 | Bertolini JeffreyChief Operating Officer | Soldpre-planned (10b5-1) | 747 | $11.3K |
| October 30, 2026 | Bertolini JeffreyChief Operating Officer | Exercised options | 243 | $542.4 |
| October 30, 2026 | Bertolini JeffreyChief Operating Officer | Soldpre-planned (10b5-1) | 243 | $3.8K |
| October 5, 2026 | Bertolini JeffreyChief Operating Officer | Exercised options | 747 | $4.4K |
| October 5, 2026 | Bertolini JeffreyChief Operating Officer | Soldpre-planned (10b5-1) | 747 | $10.7K |
| September 30, 2026 | Bertolini JeffreyChief Operating Officer | Exercised options | 243 | $542.4 |
| September 30, 2026 | Bertolini JeffreyChief Operating Officer | Soldpre-planned (10b5-1) | 243 | $3.4K |
Who owns CARL
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| B Capital Group Management, L.P.13G, passive with 4 related filers | 27.8% | November 14, 2025 |
| Casey M Tansey13G, passive with 2 related filers | 22% | November 13, 2025 |
| Michael Cordonnier13G, passive | 5.9% | July 24, 2025 |
Largest institutional holders
Insiders
11 insiders reported holding 3,711,160 shares in total, about $54.6M at the last price.
| Holder | Shares |
|---|---|
| Cordonnier MichaelCEO, President, Director | 1,550,477 |
| Casey NiallChief IP Officer, Director | 982,562 |
| Root Jonathan DDirector | 497,697 |
| Presidio Management Group XII, L.L.C.10% owner | 200,000200,000 held indirectly |
| Greenstein Leonard M.CFO, Treasurer | 188,346 |
| Heppenstall RichardCFO, Treasurer | 89,286 |
| Sidow KevinDirector | 73,264 |
| Durall William ScottChief Commercial Officer | 44,977 |
| Young Philip MDirector | 31,031 |
| Oboyle Kevin CDirector | 31,031 |
Questions about CARL
What does Carlsmed, Inc. do?
Carlsmed, Inc. is a company in the Health care sector, listed on NASDAQ as CARL. Its shares trade on NASDAQ under the ticker CARL.
What is Carlsmed, Inc.'s net worth?
Carlsmed, Inc. has a market value (market cap) of $401.6M at the latest share price, and shareholders' equity of $84.2M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Carlsmed, Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $36.3M on revenue of $63.3M.
How much revenue does Carlsmed, Inc. make?
Over the twelve months to June 30, 2026 Carlsmed, Inc. reported revenue of $63.3M.
When did Carlsmed, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 5, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from November 4, 2026.
When is Carlsmed, Inc.'s next earnings report?
Carlsmed, Inc.'s next report was expected around November 5, 2026 and is not on file with the SEC yet.
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Where the numbers come from
Financial figures are the values Carlsmed, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.