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Carlsmed, Inc. Common Stock CARL Q4 2025 Annual earnings

Reported February 25, 2026 · After market close

Revenue$15.2MBeat by $443.8KDiluted EPS-$0.32Beat by $0.11
Revenue estimate$14.7M
EPS estimate-$0.43

Next report

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

Financials

Q4 2025

Income statement

See full
Revenue$15.2M+61.2%
Gross profit$11.6M+65.3%
Operating income-$9.3M-98.4%
Net income-$8.6M-82.5%

Balance sheet

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Cash & equivalents$85.8M+114%
Total debt$17.4M+1.4%
Total equity$98.9M+240%
Total assets$130.1M+151%

Cash flow

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Operating cash flow-$5.3M-26.6%
CapEx$73.0K+19.7%
Free cash flow-$5.4M-26.5%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$328.42M—
Enterprise value$260.04M—
P/S6.5×—

Profitability

See full
Gross margin75.3%+1.5pp
Operating margin-60.5%-14.6pp
Net margin-58.7%-15.0pp
FCF margin-58.6%—

Returns & leverage

See full
Debt / equity0.2×—
Current ratio8.9×+3.3×

Versus estimates

Revenue

Q1 2026$16.1MBeat by $1.2M
Q4 2025$15.2MBeat by $443.8K
Q3 2025$13.1MMiss by $1.8MQ2 2025$12.1MBeat by $95.8K

Diluted EPS

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

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Questions, answered.

When did Carlsmed, Inc. Common Stock report Q4 2025 earnings?
Carlsmed, Inc. Common Stock (CARL) reported Q4 2025 earnings on February 25, 2026 after market close.
What were Carlsmed, Inc. Common Stock's Q4 2025 revenue and EPS?
Carlsmed, Inc. Common Stock reported revenue of $15.2M and diluted EPS of $-0.32 for Q4 2025.
Did Carlsmed, Inc. Common Stock beat estimates in Q4 2025?
Revenue beat the consensus estimate of $14.7M by $443.8K. EPS beat the consensus estimate of $-0.43 by $0.11.
Where can I find Carlsmed, Inc. Common Stock's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-071512) and the 10-K periodic report (0001193125-26-071551) directly on SEC EDGAR. The filing index links above go to sec.gov.