secwatch.observer — SEC 8-K summary
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Issuer:     CARLSMED, INC. (CARL)
CIK:        0001794546
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001193125-26-071512
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carlsmed Q4 revenue $15.2M (+61% YoY); FY rev $50.5M (+86%); guides FY2026 $70-75M
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- Q4 rev $15.2M (+61% YoY), FY rev $50.5M (+86% YoY). Gross margin 76.5% Q4, 75.3% FY.
- Net loss Q4 ($8.6M), FY ($29.6M); adj. EBITDA loss Q4 ($8.4M), FY ($28.4M).
- Cash, cash equivalents, restricted cash, and ST investments $109.9M at Dec 31, 2025.
- FY2026 revenue guidance $70-75M, representing ~44% growth at midpoint over 2025.
- 2-year data showed 74% reduction in revision rates for aprevo® lumbar vs non-aprevo.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1794546/000119312526071512/0001193125-26-071512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1794546/000119312526071512/carl-20260225.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-071512

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