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Carlsmed, Inc. Common Stock CARL Q3 2025 earnings

Reported November 6, 2025 · After market close

Revenue$13.1MMiss by $1.8MDiluted EPS-$0.40Beat by $0.05
Revenue estimate$14.9M
EPS estimate-$0.45

Next report

Jul 21, 2026 (In 3 weeks)
Revenue estimate$18.0M
EPS estimate-$0.43

Financials

Q3 2025

Income statement

See full
Revenue$13.1M+98.4%
Gross profit$9.9M+107%
Operating income-$9.0M-16.2%
Net income-$8.5M-9.1%
EPS (diluted)-$0.40+80.6%

Balance sheet

See full
Cash & equivalents$115.4M+160%
Total debt$17.6M—
Total equity$106.7M+262%
Total assets$134.9M—

Cash flow

See full
Operating cash flow-$8.5M-11.6%
CapEx$159.0K+206%
Free cash flow-$8.6M-12.9%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$355.92M—
Enterprise value$258.16M—
P/S8×—

Profitability

See full
Gross margin74.8%—
Operating margin-58%—
Net margin-57.5%—
FCF margin-63.7%—

Returns & leverage

See full
Debt / equity0.2×—
Current ratio12×—

Versus estimates

Revenue

Q1 2026$16.1MBeat by $1.2MQ4 2025$15.2MBeat by $443.8K
Q3 2025$13.1MMiss by $1.8M
Q2 2025$12.1MBeat by $95.8K

Diluted EPS

Q1 2026-$0.32Beat by $0.11Q4 2025-$0.32Beat by $0.11
Q3 2025-$0.40Beat by $0.05
Q2 2025-$1.47Beat by $0.05

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Questions, answered.

When did Carlsmed, Inc. Common Stock report Q3 2025 earnings?
Carlsmed, Inc. Common Stock (CARL) reported Q3 2025 earnings on November 6, 2025 after market close.
What were Carlsmed, Inc. Common Stock's Q3 2025 revenue and EPS?
Carlsmed, Inc. Common Stock reported revenue of $13.1M and diluted EPS of $-0.40 for Q3 2025.
Did Carlsmed, Inc. Common Stock beat estimates in Q3 2025?
Revenue missed the consensus estimate of $14.9M by $1.8M. EPS beat the consensus estimate of $-0.45 by $0.05.
Where can I find Carlsmed, Inc. Common Stock's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-269469) and the 10-Q periodic report (0001193125-25-269545) directly on SEC EDGAR. The filing index links above go to sec.gov.