Stocks · Healthcare · Medical - Healthcare Information Services
Carlsmed, Inc. CARL
$14.27 +3.71% Close, Oct 2, 2026 · NASDAQ · Market cap $387.9M
Next earnings report: Nov 5, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to -61.1% from -125.4% a year earlier.
- The diluted share count rose 492.4% in a year.
- Revenue over the last four quarters was $63.3M, up 65.4% from a year earlier, slowing from 74.9% a quarter earlier.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 13%
- Revenue growth accelerationBottom 18%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 37%
- Gross marginTop 35%
- Operating marginBottom 34%
- Accruals (lower is better)Bottom 23%
- Interest coverBottom 22%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 47%
- Free-cash-flow yieldBottom 39%
- EBITDA / enterprise valueBottom 46%
- Sales / enterprise valueBottom 44%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 49%
- 6-month returnTop 21%
- 1-year return vs S&P 500Bottom 47%
- Distance from 52-week highTop 26%
- Trend checklist (0–4)Top 39%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 29%
- Consecutive EPS beatsTop 15%
- Share of analysts rating BuyTop 10%
- Upside to consensus price targetBottom 35%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 45%
- Maximum drawdown, 3 yearsTop 21%
- Beta vs S&P 500 (lower is better)Bottom 11%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 74.9% | 65.4% | ↓ |
| Gross margin | 74.0% | 76.6% | ↑ |
| Operating margin | -125.4% | -61.1% | ↑ |
| FCF margin | -72.8% | -54.0% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 65.4% | 74.9% | ↓ | Top 13% |
| Gross margin | 76.6% | 74.0% | ↑ | Top 35% |
| Operating margin | -61.1% | -125.4% | ↑ | Bottom 34% |
| Net margin | -57.4% | -65.4% | ↑ | — |
| Free-cash-flow margin | -54.0% | -72.8% | ↑ | — |
| Return on invested capital | -36.3% | — | Bottom 37% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -1.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 8.5%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -23.5 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- Net cash
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -29.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -24.27%
- Shareholder yield
- -24.27%
- Share count change, 1 year
- +492.4%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 5, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 5
- Beats in the last 8 reports
- 5 of 6
- Average EPS surprise, last 4
- +15.9%
- Average 2-day reaction, last 8
- -1.6%
- Positive 20 days after report
- 3 of 5
Analysts
- Consensus price target
- $18.50
- Target vs current price
- +29.6%
- Analysts with a rating
- 3
- Share rating Buy or Strong Buy
- 100%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 5, 2026 | +1.5% | +1.0% | +2.2% | +21.9% | — |
| May 5, 2026 | +25.6% | -1.9% | +6.3% | +11.9% | +39.3% |
| Feb 25, 2026 | +25.6% | -3.8% | +1.1% | -22.0% | -9.9% |
| Nov 6, 2025 | +11.1% | -1.7% | +2.0% | +19.1% | -1.3% |
| Aug 28, 2025 | +3.3% | -1.5% | -7.1% | -4.7% | -15.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 5, 2026 | -$0.39 | -$0.40 | +1.5% | $18.9M |
| May 5, 2026 | -$0.32 | -$0.43 | +25.6% | $16.1M |
| Feb 25, 2026 | -$0.32 | -$0.43 | +25.6% | $15.2M |
| Nov 6, 2025 | -$0.40 | -$0.45 | +11.1% | $13.1M |
| Aug 28, 2025 | -$1.47 | -$1.52 | +3.3% | $12.1M |
| Jun 26, 2025 | -$1.39 | -$0.91 | -52.0% | $10.2M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 5.74× | — | — | Bottom 44% |
| Free-cash-flow yield | -8.82% | — | — | Bottom 39% |
| Earnings yield | -9.53% | — | — | Bottom 47% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 48
- 50-day average slope (20 days)
- +10.1%
- 200-day average slope (20 days)
- +1.0%
- Distance from 50-day average
- -2.4%
- Distance from 200-day average
- +16.5%
- RSI (14)
- 43.6
- Relative volume
- 1.87×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 53.2%
- Beta vs S&P 500 (2 years, weekly)
- 2.10
- Correlation with S&P 500
- 0.36
- Current drawdown from 1-year high
- -16.0%
- Maximum drawdown, 3 years
- -48.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Dec 3, 2025 | Apr 29, 2026 | -48.0% | 100 days | Not yet recovered |
| Sep 18, 2025 | Nov 20, 2025 | -23.0% | 45 days | 4 days (Nov 26, 2025) |
| Jul 30, 2025 | Aug 20, 2025 | -17.4% | 15 days | 16 days (Sep 12, 2025) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $387.9M
- EPS, diluted (TTM)
- -$1.36
- Revenue (TTM)
- $63.3M
- 52-week range
- $8.50 – $17.23
| FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|
| Revenue | $13.8M | $27.2M | $50.5M |
| Gross profit | $9.9M | $20.0M | $38.0M |
| Operating income | -$18.6M | -$24.1M | -$30.6M |
| Net income | -$18.9M | -$24.3M | -$29.6M |
| EPS (diluted) | -$4.25 | -$1.50 | -$2.12 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6M | $9.4M | $10.2M | $12.1M | $13.1M | $15.2M | $16.1M | $18.9M |
| Net income | -$7.8M | -$4.7M | -$5.7M | -$6.8M | -$8.5M | -$8.6M | -$8.7M | -$10.5M |
| EPS (diluted) | -$1.83 | -$0.18 | -$0.33 | -$1.47 | -$0.40 | -$0.25 | -$0.32 | -$0.39 |
| FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|
| Operating cash flow | -$17.5M | -$25.5M | -$29.0M |
| Capital expenditure | -$135,000 | -$180,000 | -$642,000 |
| Free cash flow | -$17.6M | -$25.6M | -$29.6M |
| Dividends paid | $0 | $0 | $0 |
| Net share buybacks | $55,000 | $0 | $93.7M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $89.2M
- Total assets
- $118.2M
- Total liabilities
- $34.0M
- Total debt
- $21.9M
- Net debt
- -$24.3M
- Shareholders’ equity
- $84.2M
As of Jun 30, 2026 (filed Aug 5, 2026).
Short interest
- Shares sold short
- 1,078,500
- Days to cover
- 12.98
- Change vs previous report
- -2.0%
FINRA short interest, settlement date Sep 15, 2026.