Carlsmed Q3 sales jump 65% on surgeon user growth, raises FY revenue guidance

Overview

• US medical technology firm's Q3 revenue rose 65% yr/yr to $21.6 mln

• Adjusted EBITDA loss for Q3 narrowed to $7.3 mln from $8.2 mln last year

• Company raised full-year 2026 revenue guidance to $78 mln-$80 mln

Outlook

• Carlsmed raises 2026 full-year revenue guidance to $78 mln-$80 mln

• Company expects CMS inpatient reimbursement changes to support growth in 2027

• Carlsmed sees new product launch addressing about 30,000 U.S. lumbar fusion procedures annually

Result Drivers

• SURGEON USER BASE - Co said surgeon user base grew more than 60% yr/yr, supporting revenue growth

• CMS REIMBURSEMENT - Co cited new inpatient CMS reimbursement for aprevo lumbar spine fusion procedure as a recent development

• PRODUCT LAUNCH - Co launched aprevo Lumbar Bi-lateral Posterior System, targeting additional lumbar fusion procedures

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Carlsmed, Inc. is $18.00, about 12.1% above its November 9 closing price of $16.05

Reuters Recommended Reads

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• Nov 9 - Surgery Partners Inc Q3 revenue misses estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)