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Tela Bio vs Carlsmed: TELA and CARL compared
Tela Bio is the larger company: $19.3M of revenue in its latest quarter (Q2 2026) against $18.9M for Carlsmed (Q2 2026). Carlsmed is growing faster (+57% against -4% a year earlier). Tela Bio is more profitable, with an operating margin of -48.1% against -58.3%.
Where the money goes: TELA and CARL
Tela Bio (TELA) · Q2 2026
Tela Bio, Q2 2026: revenue $19.3M (-4% year over year), operating margin -48.1%, net loss $11.3M, operating cash flow −$9.4M. The chart follows the revenue to costs, profit and cash.
Carlsmed (CARL) · Q2 2026
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.
| Tela Bio (TELA) | Carlsmed (CARL) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $19.3M | $18.9M |
| Revenue growth, Y/Y | -4% | +57% |
| Operating margin | -48.1% | -58.3% |
| Net earnings | −$11.3M | −$10.5M |
| Net margin | -58.4% | -55.5% |
| Operating cash flow | −$9.4M | −$7.4M |
Questions
Which is bigger, Tela Bio or Carlsmed?
Tela Bio is the larger company: $19.3M of revenue in its latest quarter (Q2 2026) against $18.9M for Carlsmed (Q2 2026).
Is Tela Bio or Carlsmed growing faster?
Carlsmed is growing faster (+57% against -4% a year earlier).
Which is more profitable, Tela Bio or Carlsmed?
Tela Bio is more profitable, with an operating margin of -48.1% against -58.3%.
More: Tela Bio earnings · how Tela Bio makes money · Carlsmed earnings · how Carlsmed makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2026; 10-Q filed Aug 5, 2026). Fiscal quarters can end on different dates. Not investment advice.