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Carlsmed, Inc. CARL Q3 2025 earnings

Reported November 6, 2025 · After market close

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

Next report

Nov 5, 2026 (in 3 months)
Revenue estimate$19.2M
EPS estimate-$0.42

Financials

Q3 2025

Income statement

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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

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

Cash flow

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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
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Market cap$355.92M—
Enterprise value$258.16M—
P/S8×—

Profitability

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

Returns & leverage

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Debt / equity0.2×—
Current ratio12×—

FAQ

When did Carlsmed, Inc. report Q3 2025 earnings?
Carlsmed, Inc. (CARL) reported Q3 2025 earnings on November 6, 2025 after market close.
What were Carlsmed, Inc.'s Q3 2025 revenue and EPS?
Carlsmed, Inc. reported revenue of $13.1M and eps of $-0.40 for Q3 2025.
Did Carlsmed, Inc. 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.'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.