CARLSMED, INC. (CARL) Stock

CARLSMED, INC. (CARL) is a Healthcare stock trading at $10.07 (as of 2026-06-18), with a market capitalization of $310.45M and a trailing P/E of -11.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Carlsmed, Inc. develops and operates a surgical platform for the treatment of complex adult spinal deformities that enables surgeons to harness clinical intelligence, advanced image recognition, and 3D printing technologies. Its product includes aprevo, a medical platform that makes surgical plans and devices tailored to the precise medical situation of every individual patient. It provides New Technology Add-On Payment (NTAP) reimbursement. The company was incorporated in 2018 and is based in Carlsbad, California.

Valuation — source: SEC EDGAR (first-party)
Price	$10.07
Market Cap	$310.45M
P/E Ratio	-11.8
EV / EBITDA	-7.5
Price / Book	3.37
Price / Sales	5.50
DCF Value (model)	$-16.23
DCF Upside vs Price	-261.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$50.51M
Net Margin	-58.7%
Return on Equity	-35.3%
Debt / Equity	0.17
Current Ratio	11.88
Revenue Growth (YoY)	85.9%
EPS Growth (YoY)	-65.3%
FCF Growth (YoY)	15.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.73 (safe)

Valuation vs Sector & Industry
Stock P/E	-11.8
Sector P/E (Healthcare)	21.0
Industry P/E (Medical Equipment)	31.7
vs Sector	-156.2%
vs Industry	-137.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	ORBIMED ADVISORS LLC ($11.34M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	Michael John Cordonnier
Employees	100
Country	US
IPO Date	2018-04-05

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

Data as of 2026-06-18.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.