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+10.54%
Close of 9 Nov 2026, in USD
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About Carlsmed
From its filings with the US Securities and Exchange Commission
Carlsmed is based in Carlsbad, California and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker CARL. The SEC classifies its business as surgical & medical instruments & apparatus. In the fiscal year to 31 December 2025, it reported revenue of $50.5m and a net loss of $29.6m. At that date it held total assets of $130.1m and shareholders' equity of $98.9m.
We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a focus on becoming the standard of care for spine fusion surgery. Our mission is to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. The aprevo Technology Platform was designed to address the limitations of traditional lumbar and cervical spine fusion surgery, aiming to optimize patient outcomes and reduce the need for revision surgeries.
Our technology is powered by AI-enabled, outcome-based algorithms that provide personalized surgical plans for spine fusion. The aprevo surgical kit delivered to customers includes interbody implants for a custom vertebral fit for each patient’s unique pathology and bone topography, and single-use surgical instruments. The aprevo Technology Platform supports surgeons in achieving proper spinal alignment for patients with degenerative disc disease (“DDD”), which can improve clinical outcomes and reduce the likelihood of revision surgeries. We currently market the aprevo Technology Platform for lumbar and cervical spine fusion surgeries.
Quoted from its 10-K, filed 25 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Health Care Equipment & Supplies
- Listed since
- 23 Jul 2025
- Employees
- 127
- Website
- carlsmed.com ↗
- Head office
- 1800 ASTON AVENUE, CARLSBAD, CA, 92008
- Incorporated in
- DE
- Classification
- Surgical & Medical Instruments & Apparatus
- Filer status
- <br>Emerging growth company
Leadership
Pay as last reported
- Mr. Michael CordonnierChairman of the Board, President, Chief Executive Officer, Co-Founder, since 2018$520,034
- Mr. Niall CaseyCo-Founder, Director, Chief Intellectual Property Officer, since 2018
- Mr. Leonard GreensteinChief Financial Officer, Treasurer$488,386
- Mr. William DurallChief Commercial Officer$273,697
- Ms. Jenifer KamocsayChief Legal Officer, Secretary
- Mr. Robert MittendorffIndependent Director
- Mr. Kevin O'BoyleIndependent Director$149,713
- Dr. Jonathan RootIndependent Director
- Mr. Kevin SidowIndependent Director$64,660
- Mr. Philip YoungIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Headquartered in Carlsbad, California, with a focus on AI-based medical technology solutions.
- Offers a comprehensive aprevo technology platform covering pre-operative, intra-operative, and post-operative surgical workflows.
- Commercially available in the US for lumbar interbody fusion procedures with AI-enabled surgical planning.
Weaknesses
- IPO scheduled for 2025-07-23, indicating limited historical market presence.
- Reliance on a single platform (aprevo) for all surgical workflow solutions.
- No mention of international market presence beyond the US.
Opportunities
- Expansion of aprevo platform to additional surgical procedures beyond lumbar interbody fusion.
- Potential for international market entry as the platform gains traction in the US.
- Growth in AI-driven medical technology adoption within the healthcare sector.
Threats
- Competition from other AI-based medical technology providers in the healthcare sector.
- Regulatory challenges in the medical device industry affecting platform adoption.
- Dependence on a single product (aprevo) for revenue generation.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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