CARL

Carlsmed, Inc.
NASDAQHEALTHCAREHEALTH INFORMATION SERVICES

Key Statistics

Market Cap
$366.13M
P/E Ratio
—
EPS
$-1.08
Beta
—
52W High
$17.23
52W Low
$8.50
50-Day MA
$14.96
200-Day MA
$12.31
Dividend Yield
—
Profit Margin
-57.40%
Forward P/E
—
PEG Ratio
—

About 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. The company is headquartered in Carlsbad, California.

Official WebsiteUSAFY End: December

Fundamentals

Revenue (TTM)$63.30M
Gross Profit (TTM)$48.50M
EBITDA$-38.26M
Operating Margin-58.30%
Return on Equity-66.10%
Return on Assets-28.20%
Revenue/Share (TTM)$2.48
Book Value$3.09
Price-to-Book4.79
Price-to-Sales (TTM)5.78
EV/Revenue5.31
EV/EBITDA—
Quarterly Earnings Growth (YoY)0.00%
Quarterly Revenue Growth (YoY)56.70%
Shares Outstanding$27.30M
Float$15.65M
% Insiders45.04%
% Institutions40.43%

Historical Volatility

HV 10-Day
59.25%
HV 20-Day
51.54%
HV 30-Day
45.14%
HV 60-Day
49.28%
HV Rank
6.3%

Volatility is currently expanding

Analyst Ratings

Consensus ($19.40 target)
2
Strong Buy
3
Buy

Latest News

Carlsmed Launches aprevo® Lumbar Bi-lateral Posterior System

CARLSBAD, Calif., Oct. 14, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), today announced the U.S. commercial launch of its aprevo® Lumbar Bi-lateral Posterior System at the North American Spine Society's 41st Annual Meeting (NASS) in San Antonio, TX. The launch follows a limited market evaluation that commenced in February 2026, with the first in human procedure completed on February 10, 2026.

GlobeNewsWire10/14/2026Neutral
Carlsmed, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

CARLSBAD, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced that on September 28, 2026, it granted stock options to purchase 180,137 shares of the Company's common stock and 89,286 time-based restricted stock units (“RSUs”) to Richard Heppenstall, the Company's newly-hired Chief Financial Officer, as a material inducement to his employment.

GlobeNewsWire10/2/2026Neutral
Carlsmed Appoints Tony Jarc as Chief Product and AI Officer

CARLSBAD, Calif., Oct. 01, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced that Tony Jarc, Ph.D. has been appointed to the newly-created position of Chief Product and AI Officer, effective immediately. Dr. Jarc will lead the development and commercialization of the Company's next generation technology platform, surgical UI/UX, and personalized spine surgery procedures.

GlobeNewsWire10/1/2026Neutral
Carlsmed Appoints Richard Heppenstall as Chief Financial Officer

CARLSBAD, Calif., Sept. 28, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced that Richard Heppenstall has been appointed Chief Financial Officer, effective immediately.

GlobeNewsWire9/28/2026Neutral
Carlsmed, Inc. Announces Chief Operating Officer Appointment

CARLSBAD, Calif., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced that Jeff Bertolini has been promoted to the role of Chief Operating Officer, effective immediately. Jeff joined Carlsmed in September 2024, most recently serving as the Company's Senior Vice President, Operational Excellence and previously, Vice President of Advanced Manufacturing Technologies. Prior to joining Carlsmed, Jeff held senior leadership positions in operations and technology at SI-BONE, NuVasive, and US Surgical.

GlobeNewsWire9/8/2026Neutral
Carlsmed Announces Favorable Reimbursement for aprevo® lumbar Procedures

Centers for Medicare & Medicaid Services (CMS) Fiscal Year 2027 Inpatient Final Rule creates three new Medicare Severity-Diagnosis Related Groups (MS-DRGs), with favorable reimbursement for Carlsmed aprevo® Lumbar spine fusion procedures Centers for Medicare & Medicaid Services (CMS) Fiscal Year 2027 Inpatient Final Rule creates three new Medicare Severity-Diagnosis Related Groups (MS-DRGs), with favorable reimbursement for Carlsmed aprevo® Lumbar spine fusion procedures

GlobeNewsWire8/3/2026Neutral
Carlsmed, Inc. To Participate in Upcoming Investor Conferences

CARLSBAD, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions today announced that management will participate in the following investor conferences: 11th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference.

GlobeNewsWire7/27/2026Neutral
Carlsmed Inc. to Report Second Quarter 2026 Financial Results on August 5, 2026

CARLSBAD, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced it will report its second quarter 2026 financial results after market close on Wednesday, August 5, 2026. Management will also host a conference call and concurrent webcast starting at 1:30 PM Pacific Time.

GlobeNewsWire7/22/2026Neutral

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Data last updated: 10/17/2026