Event-Driven Stocks

CARLSMED, INC.

CARLNasdaq

Healthcare · Surgical & Medical Instruments & Apparatus · DE · SEC filings ↗ · Compare ⊕

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Signs● 4 good● 3 warningdetails ↓

Financials

SEC XBRL · annual
 FY25FY24
Revenue$50.5M$27.2M
Operating income−$30.6M−$24.1M
Net income−$29.6M−$24.3M
Total assets$130.1M$51.8M
Total liabilities$31.3M$26.2M
Equity$98.9M−$70.6M
EPS (diluted)$-2.12$-6.11
Shares out.26.6M4.1M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
−60.5%
Net margin
−58.7%
Return on equity
−30.0%
Return on assets
−22.8%
Return on capital (ROCE)
−26.4%
Liabilities / assets
24.0%
Debt / equity
0.32×
Book value / share
$3.72
Revenue growth (YoY)
85.9%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
4.88safe
Accruals / assets
−0.5%clean
Beneish M-Score
-1.79normal
Piotroski F-Score
5/9mixed

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
60
/ 100
Profitability 0Growth 100Catalyst 33Earnings quality 67Financial strength 100

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →

Signs

● 3 warning● 4 good
  • Operating losses (negative operating margin)
  • Reported a net loss
  • Negative operating cash flow
  • Revenue is growing year-over-year
  • Conservative leverage (liabilities < 50% of assets)
  • Clean earnings (low accruals)
  • Altman Z″ in the safe zone

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 2026649,3253.9-3.3%
Apr 30, 2026671,5506.5+17.5%
Apr 15, 2026571,3564.2-26.4%
Mar 31, 2026776,7027.3+23.4%
Mar 13, 2026629,1694.3-8.0%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (1)

Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.