Carlsmed, Inc. filings document the regulatory record of a commercial-stage medical technology company developing AI-enabled personalized spine surgery solutions. Recent 8-K filings report results of operations and financial condition, including furnished earnings releases tied to the company’s aprevo® platform, product activity and revenue outlook.
The company’s SEC materials also cover emerging growth company status, annual meeting and proxy governance matters, and capital-structure disclosures. Material-event filings include amendments to loan and security arrangements, credit facility terms, warrant-related disclosures and other financing matters relevant to Carlsmed’s public-company reporting.
Carlsmed, Inc. reported strong top-line growth but continued losses for the quarter ended March 31, 2026. Revenue rose to $16.1 million from $10.2 million a year earlier, driven by higher procedure volumes for its AI-enabled aprevo spine surgery platform. Gross margin improved to 77.1%, reflecting lower per-unit production costs.
The company recorded a net loss of $8.7 million, deeper than the $5.7 million loss in the prior-year quarter, as it increased spending on research, sales, and public-company infrastructure. Operating activities used $13.0 million of cash. Carlsmed ended the quarter with $97.1 million in cash, cash equivalents, restricted cash, and short-term investments and $15.6 million of term-loan debt, which management believes is sufficient to fund operations for at least 12 months.
Carlsmed, Inc. reported strong first quarter 2026 results, with revenue of $16.1 million, up 58.2% from $10.2 million a year earlier. Gross profit rose to $12.4 million and gross margin improved to 77.1% from 74.9%.
The company posted a net loss of $8.7 million and adjusted EBITDA of -$7.5 million, both larger losses than in 2025 as it increased spending on research and development, sales and marketing, and general and administrative activities. Cash, restricted cash, and short-term investments totaled $97.1 million as of March 31, 2026.
Carlsmed raised its full-year 2026 revenue outlook to $72–$77 million, implying about 48% growth at the midpoint over 2025. The company highlighted new clinical data showing reduced revision surgeries for its aprevo personalized implants and initial procedures with its corra personalized fixation portfolio.
Carlsmed, Inc. is asking stockholders to vote at its 2026 annual meeting on electing two Class I directors for terms through 2029 and ratifying Ernst & Young LLP as independent registered public accounting firm for 2026.
The meeting is scheduled for June 3, 2026, at 8:00 a.m. Pacific time in San Diego, with an April 8, 2026 record date covering 27,232,278 outstanding common shares. A quorum requires a majority of voting power, and directors are elected by plurality, while auditor ratification needs majority support of shares present and entitled to vote.
The proxy describes Carlsmed’s classified seven-member board, committee structures, and governance policies including a clawback policy and insider trading restrictions. It also details director and executive pay, including 2025 cash bonuses tied to company performance and equity grants such as options and performance-based RSUs for the CEO, and shows that two venture-affiliated groups together beneficially own over half of the common stock.
Carlsmed, Inc. CEO and President Michael Cordonnier reported several stock option exercises and related share sales. On March 2 and 3, 2026, he exercised options for multiple blocks of common stock at exercise prices of $0.335 and $4.352 per share. He then sold 197,855 common shares at a weighted average price of $13.292 per share to cover the option exercise costs, withholding taxes, and associated broker fees under a broker-assisted cashless exercise.
Carlsmed, Inc. reports rapid 2025 growth as it scales its AI‑enabled aprevo Technology Platform for personalized spine fusion. Revenue rose to $50.5 million from $27.2 million, an 85.9% increase, with gross margin improving to 75.3%.
The company remains in investment mode, with net loss widening to $29.6 million and accumulated deficit reaching $100.8 million. Carlsmed focuses on U.S. lumbar and cervical spine fusion, supported by multiple FDA 510(k) clearances, dedicated reimbursement codes, and early clinical evidence suggesting better alignment and lower revision rates versus traditional stock implants.
The platform had 253 surgeon users as of December 31, 2025, up from 152 a year earlier, and has treated more than 3,200 patients. Management sees a U.S. addressable market of about $13.4 billion for lumbar and $6 billion for cervical devices, and is expanding indications, product breadth, and clinical registries to support broader adoption.
Carlsmed, Inc. reported rapid growth in its AI-enabled spine surgery business for 2025, with revenue rising to $50.5 million, an 86% increase from 2024. Fourth quarter revenue reached $15.2 million, up 61% year over year, while gross margin improved to 76.5%, showing strong unit economics.
Growth is being driven by new products like the aprevo® cervical system, the myaprevo® ecosystem, and first-in-human procedures for personalized spine implants. Operating expenses increased to $68.6 million in 2025 as the company invested in R&D and sales, resulting in a net loss of $29.6 million and Adjusted EBITDA loss of $28.4 million.
Carlsmed ended 2025 with $109.9 million in cash, restricted cash, and short-term investments, providing funding for continued expansion. For 2026, it expects revenue between $70 million and $75 million, implying about 44% growth at the midpoint over 2025.
Carlsmed, Inc. reported that Chief Commercial Officer William Scott Durall acquired 44,977 shares of common stock on January 28, 2026 at a price of $0 per share. These shares relate to restricted stock units, each representing the right to receive one share of common stock.
The RSUs will vest in three equal annual installments beginning on the first anniversary of the grant date, providing Durall with equity that vests over a multi-year period as long as the vesting conditions are met.
Carlsmed, Inc. director and Chief IP Officer Niall Casey received an equity award of 44,977 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Carlsmed common stock and will vest in three equal annual installments beginning on the first anniversary of the grant date of January 28, 2026.
Following this award, Casey beneficially owned 982,562 shares of Carlsmed common stock on a direct basis, according to the filing.