What is Carlsmed, Inc.'s (CARL) StockRank?

MoatMap's StockRank for Carlsmed, Inc. (CARL) is 18/100, with a Strong Sell signal. This is a composite score combining Quality (43), Value (30), and Momentum (30) factor ranks across MoatMap's 20,000+ stock universe.

Does Carlsmed, Inc. have an economic moat?

Carlsmed, Inc. (CARL) has a Quality factor score of 43/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the financial characteristics of a moated business.

Is Carlsmed, Inc. a buy, hold, or sell?

MoatMap's current signal for Carlsmed, Inc. (CARL) is Strong Sell, based on a StockRank of 18/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.

What sector is Carlsmed, Inc. in?

Carlsmed, Inc. (CARL) operates in the Healthcare sector, specifically the Health Information Services industry (United States).

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CARL

STRONG SELLREMOVE

Carlsmed, Inc. · Healthcare · United States · $264M · Avg Vol: $2M/d

StockRank

P/E (TTM)

—

ROE

-52.4%

D/E

0.2x

Dividend %

—

Director Trades · 180d

None in 180d →

Buybacks · 180d

None in 180d →

AI CONVICTION THESIS

Carlsmed is a micro-cap medical technology firm focusing on personalized spinal implants. While the technology is interesting, the company is pre-profit, has a high cash burn rate, and lacks the commercial scale or distribution moat required for our portfolio.

COMPANY DESCRIPTION

Carlsmed, Inc. is a medical technology company specializing in AI-enabled personalized spinal surgery devices. Their flagship product, aprevo, uses predictive analytics to optimize implant designs for individual patient anatomy and surgical outcomes. This innovative approach provides a competitive edge in the complex spinal fusion market by enhancing surgical precision and patient-specific care.

FINANCIAL SUMMARY (USD)

Year	2023	2024	2025	CAGR
Revenue	13.8M	27.2M	50.5M	91.5%
EPS	-4.25	-6.11	-2.12	—
Shares	26.5M	26.5M	26.7M	+0.6%
Debt	11.4M	17.2M	17.4M	23.7%
Equity	-46.1M	-70.6M	98.9M	—
Op CF	-17.5M	-25.5M	-29.0M	—
Inv CF	-0.1M	-0.2M	-25.5M	—
Fin CF	3.2M	58.5M	100.1M	—

PRICE (1Y)+0.4%

SMA 50SMA 200

$9.84

RSI (14)

36.1

52W High

$17.19

From 52W High

0.6%

SCORE BREAKDOWN

Quality

ROIC

-24.3%26.0

ROE

-52.4%16.8

GP/Assets

32.9%69.9

Op. Margin

-57.6%19.9

FCF/Assets

-20.3%16.6

Piotroski

549.0

Int. Cover

-19.7x18.3

D/E Ratio

0.19x53.9

Current Ratio

11.88x89.6

Value

P/E (TTM)

—N/A

EV/EBITDA

-5.7x25.0

P/FCF

—N/A

P/B

2.9x45.2

P/S

4.7x43.4

Div Yield

—N/A

Momentum

52W High %

57%37.2

RS 6M

-34%41.1

SMA 50/200

0.86x24.1

EPS Rev 4W

0.0%49.2

EPS Rev 12W

+3.4%55.5

EPS Improve

-48%9.3

Q Growth

—N/A

FUNDAMENTALS

Market Cap

$264M

P/E (Forward)

-6.7x

Gross Margin

75.9%

SECTOR PEERS

Closest peers in Healthcare, ranked by industry match, size, and score similarity. Cross-listings of CARL are excluded.

Ticker	Company	Mkt Cap	StockRank	Signal
CARL	Carlsmed, Inc.(you)	$264M	18	STRONG SELL
LFMD	LifeMD, Inc.	$223M	30	SELL
HCAT	Health Catalyst, Inc.	$124M	24	SELL
EVH	Evolent Health, Inc.	$486M	32	SELL
WEAV	Weave Communications, Inc.	$406M	39	HOLD
SDGR	Schrödinger, Inc.	$1.1B	15	STRONG SELL
CTEV	Claritev Corporation	$491M	39	HOLD
PHR	Phreesia, Inc.	$564M	41	HOLD
DRIO	DarioHealth Corp.	$51M	11	STRONG SELL
DH	Definitive Healthcare Corp.	$80M	38	HOLD

Peer medians: ROE -22.7% · P/E 25.2x · Gross margin 44.3%

Carlsmed, Inc. (CARL) — Stock Score Summary

Carlsmed, Inc. (CARL) has a MoatMap StockRank of 18/100 based on Quality (43/100), Value (30/100), and Momentum (30/100) factor scores. The current signal is STRONG SELL. Carlsmed is a micro-cap medical technology firm focusing on personalized spinal implants. While the technology is interesting, the company is pre-profit, has a high cash burn rate, and lacks the commercial scale or distribution moat required for our portfolio.

Key Financial Metrics

Price	$9.84
Market Cap	$264M
P/E (Forward)	-6.74
Price/Book	2.85
Return on Equity	-52.4%
Return on Invested Capital	-24.3%
Debt/Equity	18.70
Gross Margin	75.9%
Operating Margin	-57.6%
Revenue Growth	58.2%
Free Cash Flow	$-26M

Carlsmed, Inc. operates in the Health Information Services industry, part of the Healthcare sector (United States).

Frequently Asked Questions

What is Carlsmed, Inc.’s (CARL) StockRank?: MoatMap’s StockRank for Carlsmed, Inc. (CARL) is 18/100, with a Strong Sell signal. It is a composite of Quality (43), Value (30), and Momentum (30) factor ranks across MoatMap’s 20,000+ stock universe.
Does Carlsmed, Inc. have an economic moat?: Carlsmed, Inc. (CARL) has a Quality factor score of 43/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the characteristics of a moated business.
Is Carlsmed, Inc. a buy, hold, or sell?: MoatMap’s current signal for Carlsmed, Inc. (CARL) is Strong Sell, based on a StockRank of 18/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.
What sector is Carlsmed, Inc. in?: Carlsmed, Inc. (CARL) operates in the Healthcare sector, specifically the Health Information Services industry (United States).