---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-111947"
form_type: "8-K"
ticker: "CARL"
cik: "0001794546"
company_name: "CARLSMED, INC."
filed_at: "2025-08-28T23:59:59+00:00"
generated_at: "2026-05-17T09:30:00.887191+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Carlsmed Q2 revenue $12.1M (+99% YoY); raises FY guidance to $45.5M-$47.5M

## Summary
- Q2 revenue $12.1M, up 99% YoY; gross margin 73.4%; net loss $6.8M.
- Cash $33.5M at June 30; $93.5M net from July 2025 IPO to fund growth.
- First personalized cervical spine surgery using aprevo completed; CMS NTAP reimbursement begins Oct 1, 2025.
- FY 2025 revenue guidance raised to $45.5M-$47.5M, representing 67-75% growth YoY.
- Adjusted EBITDA loss unchanged at $6.2M; operating expenses rose to $15.4M.

## SEC filing metadata
- accession: 0000950170-25-111947
- form_type: 8-K
- ticker: CARL
- cik: 0001794546
- company_name: CARLSMED, INC.
- filed_at: 2025-08-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1794546/000095017025111947/0000950170-25-111947-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1794546/000095017025111947/carl-20250828.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-111947
- JSON: https://secwatch.observer/filing/0000950170-25-111947.json
- Plain text: https://secwatch.observer/filing/0000950170-25-111947.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.