CARLSMED, INC. (CARL) FY2025 10-K Annual Report
CARLSMED, INC. (CARL) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CARLSMED, INC. FY2025 10-K Analysis
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
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
CARLSMED, INC. FY2025 Key Financial MetricsXBRL
Revenue
$51M
▲ +85.9% YoY
Net Income
-$30M
▼ -22.2% YoY
Gross Margin
75.3%
▲ +151bp YoY
Operating Margin
-60.5%
▲ +2827bp YoY
Net Margin
-58.7%
▲ +3063bp YoY
ROE
-30.0%
▼ -6432bp YoY
Total Assets
$130M
▲ +151.1% YoY
EPS (Diluted)
$-2.12
▲ +65.3% YoY
Operating Cash Flow
-$29M
▼ -13.8% YoY
Source: XBRL data from CARLSMED, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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