Carlsmed, Inc.
CARLHealthcareNASDAQHealth Information Services
Scan Results
Daily timeframeCarlsmed, Inc., a commercial-stage medical technology company, designs, manufactures, and markets AI-enabled personalized spine surgery solutions. Valued at $317.0M, CARL is a small-cap name in its sector. The company develops aprevo, a comprehensive technology platform for spine fusion surgery procedures.
Market Cap
$317.0M
Beta
—
P/E (TTM)
—
P/E (Fwd)
-8.13
EPS (TTM)
$-0.97
EPS (Fwd)
$-1.44
ROE
-52.4%
ROA
-24.2%
Cash
$97.0M
Total Debt
$17.3M
Free CF
-$26.4M
52W Change
-19.6%
Annual Financials
Cash vs Debt
The balance sheet looks solid with $97.0M in cash comfortably exceeding the $17.3M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. The company is burning cash, with free cash flow at -$26.4M. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. Return on equity stands at -52.4%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. Revenue has grown from $13.8M (2023) to $50.5M (2025), reflecting a 267% increase over the period.
With cash comfortably exceeding debt, CARL has financial flexibility that may help navigate uncertain periods. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for Carlsmed, Inc. and its sector.