State Ledger
Company profile

CARLSMED, INC. CIK 1794546

Ticker
CARL (Nasdaq)
Industry
Surgical & Medical Instruments & Apparatus
Headquarters
Carlsbad, CA 92008
Fiscal year end
2025 (FY)
Market Data
Close
$14.79
Change
+$0.33
Change %
2.25%
Volume
2,117

CARL · trading date Oct 12, 2026 · previous close $14.46 · source: Alpaca (IEX feed, not consolidated full-market data).

Key Financials
Revenue
—
Net income
-$29.63M
Total assets
$130.12M
Total liabilities
$31.25M
Stockholders' equity
$98.87M
Cash & equivalents
$85.79M
Operating income
-$30.57M
Operating cash flow
-$28.98M
Capital expenditures
$642.0K

Fiscal year 2025, via 10-K filed 2026-02-25. A dash means this figure wasn't reported in the source filing under a field State Ledger recognizes - not that the value is zero.

Financial Performance
Operating margin
—
Net margin
—
Free cash flow
-$29.62M
Free cash flow margin
—
Liabilities / assets
24.0%
Equity / assets
76.0%
CapEx / revenue
—
Operating cash flow / net income
0.98×

Derived from the fiscal year 2025 figures above. These metrics are mathematical calculations and do not represent a rating or assessment of the company.

Financial History
Fiscal yearRevenueNet incomeAssetsLiabilitiesEquity
2025 — -$29.63M $130.12M $31.25M $98.87M
2024 — -$24.26M $51.82M $26.23M -$70.63M
Company Details
SIC code
3841
State of incorporation
DE
Active filer
Yes
Most recent SEC filing
Form 4/A
2026-09-15
Financials filed via
Form 10-K
filed 2026-02-25

"Most recent SEC filing" may differ from the filing used for the financial figures above.

Location
Carlsbad, CA 92008
1800 ASTON AVENUE
Data & Methodology

SEC EDGAR submissions API (identity, collected Sep 19, 2026, 15:11 UTC) and SEC XBRL Company Facts API (financials, collected Sep 26, 2026, 15:19 UTC) · figures as originally filed, not restated · a dash always means a value wasn't reported, never a real zero.

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