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Carlsmed, Inc. income statement

In fiscal 2025, Carlsmed, Inc. reported revenue of $50.5m, up 85.9% on the year before, operating income of −$30.6m (a -60.5% margin) and net income of −$29.6m, or −$2.12 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2024Dec 20242025Dec 2025LTMJun 2026
Revenue275163
Cost of revenue71215
Gross profit203849
Research and development141721
Selling and marketing213543
General and administrative81724
Operating income−24−31−39
Interest expense111
Income tax000
Net income−24−30−36
Diluted EPS−$6.11−$2.12—
Diluted shares (average)4m14m—
EBITDA−24−30−38

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Carlsmed, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Carlsmed, Inc.