YOLFTbeta
Carlsmed, Inc.

Carlsmed, Inc.

CARL · NASDAQ · Healthcare / Health Information Services

17.12USD-0.18 (-1.04%)

Price History

Full chart

Market Stats

Previous Close17.30
Open17.63
Day Range16.60 – 17.70
52-Week Range8.50 – 17.23
Volume219.69K
Market Cap404.63M
P/E (TTM)0.00
Forward P/E0.00
EPS-2.34
Dividend Yield0.00%
50-Day Avg14.20
200-Day Avg12.20

About

Carlsmed, Inc., a commercial-stage medical technology company, designs, manufactures, and markets AI-enabled personalized spine surgery solutions. The company develops aprevo, a comprehensive technology platform for spine fusion surgery procedures. Its aprevo platform includes proprietary surgical planning software, using outcomes-based algorithms that are aided with artificial intelligence, and resulting custom-built, anatomically designed vertebral interbody implants. The company was incorporated in 2018 and is based in Carlsbad, California.

Company Details

  • SectorHealthcare
  • IndustryHealth Information Services
  • CEOMr. Michael John Cordonnier
  • Employees127
  • Headquarters1800 Aston Avenue, Carlsbad, CA, United States, 92008, USA
  • Websitehttps://carlsmed.com

Leadership

  • Mr. Michael John CordonnierCo-Founder, Chairman, CEO & President · b. 1977
  • Mr. Niall Patrick Casey J.D.Co-Founder, Chief Intellectual Property Officer & Director · b. 1977
  • Mr. Leonard M. Greenstein J.D.CFO & Treasurer · b. 1976
  • Mr. William DurallChief Commercial Officer · b. 1964
  • Mr. Shariq HussainChief Technology Officer
  • Ms. Stephanie ZhadkevichVP & Head of Investor Relations
  • Ms. Jenifer KamocsayChief Legal Officer & Secretary
  • Ms. Jodi Allen Coe M.B.A.Senior Vice President of People & Culture
  • Ms. Sharon V. SchulzkiChief Clinical & Market Access Officer · b. 1958
  • Mr. Jeff BertoliniSenior Vice President of Operational Excellence

Financials

Income Statement

Currency: USD2023-12-312024-12-312025-12-31
Total Revenue13.78M27.16M50.51M
Growth (%)-+97.16%+85.94%
Cost of Revenue3.88M7.12M12.47M
Gross Profit9.90M20.05M38.04M
Gross Margin71.88%73.80%75.31%
Operating Expense28.49M44.17M68.61M
Operating Income-18.59M-24.12M-30.57M
Operating Margin-134.93%-88.80%-60.53%
EBITDA-18.12M-22.79M-27.92M
EBITDA Margin-131.52%-83.90%-55.28%
Net Income-18.90M-24.26M-29.63M
Net Income Margin-137.16%-89.30%-58.67%
R&D7.39M14.30M17.02M
R&D as % of Total Revenue53.67%52.66%33.69%
Interest Expense641.00K1.32M1.43M
Interest Expense % of Total Revenue4.65%4.86%2.83%

Balance Sheet

Currency: USD2023-12-312024-12-312025-12-31
Total Assets14.02M51.82M130.12M
Total Liabilities60.15M122.45M31.25M
Total Equity-46.13M-70.63M98.87M
Cash7.22M40.13M85.79M
Total Debt11.39M17.18M17.41M
Net Debt4.17M-22.95M-68.38M

Cash Flow

Currency: USD2023-12-312024-12-312025-12-31
Operating Cash Flow-17.48M-25.47M-28.98M
Investing Cash Flow-135.00K-180.00K-25.48M
Financing Cash Flow3.18M58.50M100.13M
Capital Expenditure135.00K180.00K642.00K
Free Cash Flow-17.61M-25.65M-29.62M
FCF to OCF100.77%100.71%102.22%

Earnings

Report DateJun 26, 2025Aug 28, 2025Nov 6, 2025Feb 19, 2026May 5, 2026Aug 5, 2026Nov 5, 2026
EPS Estimate-0.25-0.91-0.49-0.35-0.39-0.40-0.41
EPS Actual-0.26-1.37-0.37-0.32-0.26-0.39-
Surprise-4.00%-50.55%24.49%7.51%33.33%2.50%-
Timing-After-hoursAfter-hours-After-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap404.63M
Enterprise Value336.23M
Trailing P/E0.00
Forward P/E0.00
Price / Sales6.39
Price / Book4.79
EPS-2.34
Book Value3.09
Revenue (TTM)63.30M
Gross Profit (TTM)48.50M
EBITDA-38.26M
Profit Margin-57.42%
Operating Margin-58.27%
Return on Equity-66.14%
Return on Assets-28.19%
Shares Outstanding27.30M
Shares Float15.65M
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Ownership Breakdown

Institutions
40.37%
Insiders
44.51%
Retail / Other
15.12%

Top Institutional Holders

  • Orbimed Advisors LLC
    1.25M4.59%
  • HHG PLC
    1.23M4.50%
  • Parkman Healthcare Partners LLC
    597.32K2.19%
  • BlackRock Inc
    446.89K1.64%
  • KCM Capital Inc
    440.00K1.61%
  • Pier Capital, LLC
    373.68K1.37%
  • Millennium Management LLC
    295.91K1.08%
  • Schonfeld Strategic Advisors LLC
    283.18K1.04%
  • Vanguard Capital Management, LLC
    276.13K1.01%
  • Geode Capital Management, LLC
    193.17K0.71%
  • State Street Corp
    113.72K0.42%
  • Citadel Advisors Llc
    101.73K0.37%

Top Fund Holders

  • Janus Henderson Venture D
    611.23K2.24%
  • iShares Russell 2000 ETF
    209.80K0.77%
  • SEB Nordamerikafond Småbolag
    195.72K0.72%
  • Vanguard MStar Total Stk Mkt Idx Invest
    158.58K0.58%
  • Janus Strategic Val A USD
    129.83K0.48%
  • Janus Henderson US SM Cap Val A2 USD
    129.83K0.48%
  • Russell Inv US Small Cap Equity Y
    108.55K0.40%
  • Fidelity Small Cap Index
    92.32K0.34%