What is CARL's financed construction projects?

CARL (CARL) reported financed construction projects of $31.75K in Q4 2025.

What does financed construction projects mean?

Captures capital expenditures related to construction projects that have been incurred but remain unpaid at the end of the reporting period. This represents a liability for future cash outflows related to infrastructure or asset development. It is useful for assessing the company's near-term capital expenditure commitments.

CARL CARL Financed construction projects

Financed construction projects at other companies

Calumet, Inc.CLMT

$29.8M+10.4%

The GEO GroupGEO

$2.05M-11.3%

Restoration HardwareRH

$30.48M+88.4%

AXT

AXTAXTI

$137K—

Carlsmed, Inc. Common StockCARL

$31.75K—

SEG

Seaport Entertainment GroupSEG

$437K-35.3%

Other financials

Income statement

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Revenue$16.1M+58.2%

Gross profit$12.4M+62.7%

Operating income-$9.3M-62.2%

Net income-$8.7M-51.8%

EPS (diluted)-$0.32+78.2%

Balance sheet

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Cash & equivalents$73.0M+68.1%

Total debt$17.3M—

Total equity$92.2M+220%

Total assets$118.8M—

Cash flow

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Operating cash flow-$13.0M-59.5%

CapEx$79.0K-4.8%

Free cash flow-$13.1M-58.8%

Valuation

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Market cap$305.56M-20.3%

Enterprise value$249.8M—

P/S5.4×—

Profitability

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Gross margin75.9%+1.4pp

Operating margin-60.5%-10.2pp

Net margin-57.8%-11.2pp

FCF margin-61.1%—

Returns & leverage

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Return on equity-416.9%—

Debt / equity0.2×—

Current ratio11.9×—

Where this comes from

Reported directly by CARL in its filing.

Tagged under the XBRL concept us-gaap:ConstructionInProgressExpendituresIncurredButNotYetPaid.

The official record: CARL’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CARL's financed construction projects?: CARL (CARL) reported financed construction projects of $31.75K in Q4 2025.
What does financed construction projects mean?: Captures capital expenditures related to construction projects that have been incurred but remain unpaid at the end of the reporting period. This represents a liability for future cash outflows related to infrastructure or asset development. It is useful for assessing the company's near-term capital expenditure commitments.