Filing Flows › Carlsmed (CARL) › Q2 2026
Carlsmed (CARL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Carlsmed (CARL) reported revenue of $18.9M for the second quarter 2026 (Q2 2026), +57% from a year earlier and +18% from the quarter before. Operating margin was -58.3%, net loss $10.5M (55.5% of revenue).
Carlsmed, Q2 2026: revenue $18.9M (+57% year over year), operating margin -58.3%, net loss $10.5M, operating cash flow −$7.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.9M | +18% | +57% |
| Operating profit | −$11.0M | — | — |
| Net earnings | −$10.5M | — | — |
| Operating cash flow | −$7.4M | — | — |
What changed
Revenue was $18.9M in Q2 2026, up 57% year over year and up 18% from the previous quarter.
Gross margin was 76.8%, up 3.4 points from Q2 2025. Operating costs exceeded revenue by $11.0M, an operating margin of -58.3%. Operating expenses grew 66% against revenue growth of 57%. The fastest-growing cost line was General & admin (+128%). The quarter ended with a net loss of $10.5M, wider than the previous quarter's $8.7M loss.
Operating cash flow was −$7.4M. Non-cash charges added back $130K of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items added $751K. Capital expenditures of $121K exceeded it, leaving free cash flow of −$7.5M.
Questions
What was Carlsmed's revenue in the second quarter 2026?
Carlsmed (CARL) reported revenue of $18.9M for the second quarter 2026 (Q2 2026), +57% from a year earlier and +18% from the quarter before.
Was Carlsmed profitable in the second quarter 2026?
Operating loss was $11.0M (-58.3% of revenue) and net loss $10.5M.
Source: Carlsmed 10-Q on SEC EDGAR.