Carlsmed Posts 58% Revenue Growth, Raises 2026 Guidance to $72–77M
Carlsmed generated $16.1 million in Q1 revenue, a 58% increase year-over-year, and raised full-year 2026 revenue guidance to $72–77 million. A retrospective study showed a 74% reduction in revision surgeries with aprevo personalized lumbar implants, and the corra cervical system debuted in February.
1. First Quarter Financial Results
Carlsmed reported first quarter revenue of $16.1 million, up 58.2% from $10.2 million a year earlier. Gross profit rose to $12.4 million, a 77.1% margin, while operating expenses increased to $21.7 million, driven by R&D and sales investments, resulting in an $8.7 million net loss.
2. Clinical Data and Product Launches
A retrospective study demonstrated a 74% reduction in revision surgeries with aprevo personalized lumbar implants compared to traditional devices. In February, the company performed its first procedure using the corra personalized cervical plating system, expanding its patient-specific spine fixation portfolio.
3. Full-Year Guidance Increase
Full-year 2026 revenue guidance was raised to $72 million–$77 million, up from $70 million–$75 million, reflecting confidence in sustained high-growth sales of aprevo and pending corra product launches throughout the year.
4. Strong Cash Position
As of March 31, Carlsmed held $97.1 million in cash, equivalents and short-term investments, providing a strong liquidity runway to support product commercialization and ongoing development programs.