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GlobeNewswire·

Carlsmed® Reports Third Quarter 2026 Financial Results and Raises Full-Year Guidance

CARL
  • Carlsmed reported third quarter 2026 revenue of $21.6 million, a 65% year-over-year increase from $13.1 million in the prior year period.
  • The company raised its full year 2026 revenue guidance to a range of $78 million to $80 million, representing over 56% growth at the midpoint versus 2025.
  • Gross profit reached $16.7 million for the quarter with a gross margin of 77.3%, up from 75.9% in the same period last year.
  • Operating expenses totaled $29.4 million, including $2.8 million in executive transition costs & legal matter resolutions.
  • Net loss for the quarter was $12.2 million, compared to $8.5 million in the third quarter of 2025.
  • Adjusted EBITDA for the quarter was ($7.3) million, an improvement from ($8.2) million in the prior year period.
  • Cash, restricted cash, short-term investments, & marketable securities totaled $80.3 million as of September 30, 2026.
  • CMS IPPS rules effective October 1, 2026, increased inpatient reimbursement for aprevo® lumbar procedures for fiscal year 2027.
  • Carlsmed launched the aprevo® Lumbar Bi-lateral Posterior System in October, addressing an estimated 30,000 annual U.S. lumbar fusion procedures.
  • The leadership team was strengthened with Jeff Bertolini promoted to Chief Operating Officer, Rich Heppenstall appointed as Chief Financial Officer, & Tony Jarc, Ph.D., added as Chief Product and AI Officer.
  • The surgeon user base grew by more than 60% compared to the prior year.
  • The company confirmed a conference call & webcast scheduled for November 10, 2026, at 4:30 pm Eastern Time.
Company
Carlsmed
Keywords
Nasdaq:CARL, Carlsmed