Carlsmed (NASDAQ:CARL) Issues Earnings Results
by Jessica Moore · The Cerbat GemCarlsmed (NASDAQ:CARL – Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11, FiscalAI reports. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%. The company had revenue of $16.12 million during the quarter.
Here are the key takeaways from Carlsmed’s conference call:
- Strong Q1 revenue of $16.1M (+58% YoY), expanded gross margin to 77.1% and raised full‑year 2026 guidance to $72–77M, signaling accelerating commercial traction.
- Peer‑reviewed data in the Global Spine Journal showed a 74% reduction in 2‑year revision rates (4.3% vs 16.6%) for aprevo versus stock devices, which supports surgeon adoption and hospital value propositions.
- First full commercial quarter for aprevo cervical with >20% of surgeon users trained and an expected high‑single to low‑double digit revenue contribution this year; the corra patient‑specific cervical plate is in limited market evaluation with a Q4 launch target and cervical has an NTAP up to $21,125.
- Operational improvements from the AI‑enabled digital production system reduced lead time by >30% to six business days and delivered ~200 bps of year‑over‑year margin expansion, supporting scalable, capital‑light growth.
- Company remains unprofitable with a GAAP net loss of $8.7M and adjusted EBITDA of –$7.5M in Q1 and used $13M in operating cash, though cash and investments totaled $97.1M.
Carlsmed Price Performance
Shares of CARL stock traded up $1.25 on Wednesday, reaching $10.17. 118,860 shares of the company were exchanged, compared to its average volume of 120,908. The company has a market cap of $276.93 million and a price-to-earnings ratio of -2.78. The business has a 50-day moving average price of $10.83 and a 200 day moving average price of $12.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.74 and a current ratio of 8.87. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.19.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on CARL shares. BTIG Research restated a “buy” rating and issued a $23.00 price objective on shares of Carlsmed in a research report on Wednesday. The Goldman Sachs Group cut their price objective on Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Truist Financial cut their price objective on Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Zacks Research upgraded Carlsmed from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.33.
Read Our Latest Report on CARL
Institutional Trading of Carlsmed
Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of Carlsmed during the third quarter worth approximately $33,000. JPMorgan Chase & Co. purchased a new stake in shares of Carlsmed during the third quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Carlsmed during the third quarter worth approximately $42,000. Rhumbline Advisers purchased a new stake in shares of Carlsmed during the third quarter worth approximately $79,000. Finally, Wells Fargo & Company MN grew its stake in Carlsmed by 61.7% during the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after acquiring an additional 2,989 shares in the last quarter.
Carlsmed Company Profile
We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).