Carlsmed Announces Preliminary Revenue for the Fourth Quarter and Full Year 2025
Rhea-AI Summary
Carlsmed (Nasdaq: CARL) reported preliminary unaudited revenue of approximately $15.2 million for the fourth quarter of 2025, about +61% versus Q4 2024, and preliminary full year 2025 revenue of approximately $50.5 million, about +86% versus 2024. The company said it added 101 new surgeon users in 2025, a 61% increase in its surgeon user base, and launched aprevo cervical with early positive surgeon feedback. Results are preliminary, unaudited and subject to revision until the Company files its 2025 Annual Report on Form 10-K.
Positive
- Q4 2025 revenue of approximately $15.2M (+61% vs Q4 2024)
- Full year 2025 revenue of approximately $50.5M (+86% vs 2024)
- 101 new surgeon users added in 2025, a 61% increase in user base
- Commercial launch of aprevo cervical with encouraging early surgeon feedback
Negative
- Preliminary results are unaudited estimates and may be revised in the 2025 Form 10-K
News Market Reaction
On the day this news was published, CARL gained 13.79%, reflecting a significant positive market reaction. Argus tracked a peak move of +11.2% during that session. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $48M to the company's valuation, bringing the market cap to $395M at that time. Trading volume was elevated at 2.5x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Before this revenue update, CARL was down 1.4%. Peers showed mixed moves: NRC up 0.92%, SY up 0.38%, while OPRX, SPOK, and TALK were down between 0.99% and 2.81%. The lack of a consistent direction across peers points to stock‑specific factors rather than a sector‑wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 06 | Clinical data update | Positive | +2.9% | Published 2‑year lumbar data showing lower revision rates vs stock implants. |
| Dec 16 | Conference participation | Neutral | +0.0% | Announced upcoming J.P. Morgan Healthcare Conference presentation and investor meetings. |
| Dec 03 | Product launch | Positive | +12.4% | U.S. launch of aprevo cervical fusion platform and early clinical experience data. |
| Nov 19 | Conference participation | Neutral | -0.2% | Piper Sandler conference appearance and webcast details for investors. |
| Nov 06 | Earnings & guidance | Positive | -1.7% | Q3 2025 results with strong revenue growth and raised full‑year guidance. |
Positive product and clinical news (aprevo® launches and outcome data) have seen aligned positive price reactions, while earnings and conference participation have shown flatter or negative moves, indicating some history of underwhelming reactions to financial updates.
Over the last few months, Carlsmed has highlighted several milestones. On Nov 6, 2025, it reported Q3 2025 results with $13.1M revenue and raised full‑year guidance, yet the stock fell 1.74%. Subsequent conference participation in November and December had minimal impact. In early December, the U.S. launch of the aprevo® cervical platform coincided with a 12.44% rise, and publication of 2‑year lumbar data on Jan 6, 2026 saw a 2.94% gain. Today’s preliminary 2025 revenue update follows this mix of strong operating progress and uneven market reactions.
Market Pulse Summary
The stock surged +13.8% in the session following this news. A strong positive reaction aligns with the company’s demonstrated operating momentum, including Q4 revenue of about $15.2M and full‑year 2025 revenue near $50.5M, both reflecting high growth versus 2024. Historical data show outsized gains on major product and clinical milestones. However, past pullbacks after earnings updates suggest that enthusiasm sometimes faded, so investors have previously reassessed expectations after initial spikes.
Key Terms
form 10-k regulatory
AI-generated analysis. Not financial advice.
Fourth quarter 2025 revenue of ~
Full Year 2025 revenue of ~
CARLSBAD, Calif., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today announced preliminary and unaudited revenue for the fourth quarter and year ended December 31, 2025.
Preliminary Q4 & FY 2025 Revenue Results
- Fourth quarter 2025 revenue was approximately
$15.2 million , an approximate61% increase compared to the fourth quarter 2024. - Full year 2025 revenue was approximately
$50.5 million , an approximate86% increase compared to the full year 2024.
“Our fourth quarter commercial performance capped a transformational year for Carlsmed and underscores the power of aprevo®. This platform technology provides surgeons with greater procedural predictability and has the potential to meaningfully improve clinical outcomes in spine fusion and lower the total cost of care for the healthcare system. With growing enthusiasm for aprevo®, we added 101 new surgeon users in 2025, representing a
The preliminary unaudited revenue results described in this press release are estimates only and subject to revision and adjustment until the Company reports its full financial results for 2025 in its Annual Report on Form 10-K.
About Carlsmed
Carlsmed is a medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects, including statements regarding Carlsmed’s preliminary estimated results for the fourth quarter and full year 2025 revenue, the potential of Carlsmed’s products, Carlsmed’s growth prospects, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “likely,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including such important factors as are set forth under the caption “Risk Factors” in the Carlsmed’s Registration Statement on Form S-1 on file with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent Carlsmed’s views as of the date of this press release. Carlsmed anticipates that subsequent events and developments will cause its views to change. However, while Carlsmed may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Carlsmed’s views as of any date subsequent to the date of this press release.
Investor Relations
Caroline Corner, PhD
IR@Carlsmed.com
Media
LeAnn Burton
Senior Director Brand Marketing
LBurton@Carlsmed.com
FAQ
What were Carlsmed (CARL) preliminary Q4 2025 revenues?
What was Carlsmed (CARL) preliminary full year 2025 revenue and growth rate?
How many new surgeon users did Carlsmed add in 2025?
Is the Carlsmed 2025 revenue final and audited?
What product launches did Carlsmed highlight in the Jan 12, 2026 release?
When will Carlsmed (CARL) report final audited 2025 results?
