secwatch.observer — SEC 8-K summary
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Issuer:     CARLSMED, INC. (CARL)
CIK:        0001794546
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001193125-25-269469
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carlsmed Q3 revenue $13.1M (up 98% YoY); raises FY2025 guidance to $49M-$50M
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- Gross margin expanded to 75.9% from 72.8%; net loss of $8.5M vs $7.8M a year ago.
- Cash $115.5M; amended debt facility to $50M with extended maturity and interest-only period.
- CMS NTAP for cervical aprevo procedures effective Oct. 1, 2025; commercial launch expected early 2026.
- Lead time for aprevo interbody implants reduced to 8 business days from 10 in Q2 2025.
- Appointed Jennifer Kamocsay as Chief Legal Officer and Secretary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1794546/000119312525269469/0001193125-25-269469-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1794546/000119312525269469/carl-20251106.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-269469

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer