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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$21.60 mln

Q3 Net Loss

$12.20 mln

Q3 Adjusted EBITDA

-$7.30 mln

Q3 Gross Margin

77.30%


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

  • Nov 9 - Orthofix Medical Q3 revenue misses; cuts full-year guidance due to weaker US Spine performance

  • Nov 9 - Bon Secours affiliate sweetens bid for Surgery Partners to up to $6 billion

  • 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.)

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