CARL CARLSMED, INC.

FY2025 10-K
Filed: Feb 25, 2026
Health Care
Surgical & Medical Instruments & ApparatusSEC EDGAR

CARLSMED, INC. (CARL) filed its fiscal year 2025 10-K annual report with the SEC on Feb 25, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • Core business: proprietary aprevo platform for personalized spine fusion surgical implants using AI-driven surgical planning software
  • New: 2025 launch of FDA-cleared aprevo cervical spine fusion technology and personalized cervical plating solutions
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Management Discussion & Analysis

  • No revenue, segment, or profitability details disclosed in this MD&A excerpt
  • Risks highlighted on liquidity due to loan covenants and uninsured cash deposits exposure
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Financial Summary
XBRL

Revenue

$51M

Net Income

-$30M

Gross Margin

75.3%

Operating Margin

-60.5%

Net Margin

-58.7%

ROE

-30.0%

Total Assets

$130M

EPS (Diluted)

$-2.12

Operating Cash Flow

-$29M

Source: XBRL data from CARLSMED, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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