Carlsmed Q2 revenue rises 57%, raises 2026 revenue forecast
CARL•Q2 revenue and loss details
Carlsmed said second-quarter revenue rose 57% year over year, supported by strong spine procedure demand.
The company reported:
| Metric | Actual |
|---|---|
| Q2 Revenue | $18.90 million |
| Q2 Net Loss | $10.50 million |
| Q2 Adjusted EBITDA | -$8.60 million |
| Q2 Gross Margin | 76.80% |
The company said its net loss and adjusted EBITDA loss widened as operating expenses increased.
Analyst coverage and valuation
The current average analyst rating on the shares is buy, with 5 ratings of strong buy or buy, and no hold, sell or strong sell ratings.
The average consensus recommendation for the medical equipment, supplies and distribution peer group is buy.
Wall Street's median 12-month price target for Carlsmed, Inc. is $18.00, about 34% above its August 4 closing price of $13.43.
Growth drivers and reimbursement
Carlsmed said its trained surgeon user base grew more than 60% year over year, helping support higher procedure volumes.
