CARLSMED, INC. (CARL)

Current Report Filed: 2026-05-05

Carlsmed issued Q1 2026 earnings results on May 5, 2026, with the full press release attached as Exhibit 99.1, though specific financial metrics are not disclosed in this 8-K filing itself.
The company is classified as an emerging growth company and has elected not to use the extended transition period for new accounting standards, suggesting faster adoption of regulatory changes.
Michael Cordonnier signed as CEO and President, indicating stable leadership at the company as of the filing date.

Quarterly Report Filed: 2026-05-05

The filing date of May 5, 2026 for Q1 2026 (ending March 31, 2026) appears delayed, suggesting potential operational or reporting challenges that warrant investigation into internal controls and financial close processes.
Multiple convertible preferred stock series (A, B, C) and warrant instruments indicate a complex capital structure with significant dilution potential for common shareholders, requiring careful monitoring of conversion triggers and exercise terms.
The presence of a Fifth Amendment to a loan agreement dated October 29, 2025 suggests the company has required multiple restructuring negotiations with lenders, indicating potential liquidity or covenant compliance concerns that investors should examine in detail.
Customer concentration risk is explicitly tracked in the filing, suggesting reliance on major customers that could materially impact revenue stability; this warrants review of customer contracts and retention metrics.

Insider Trading Filed: 2026-03-04

Insider Michael Cordonnier, the CEO and President of Carlsmed, Inc., engaged in significant stock transactions including exercising stock options and selling shares to cover costs, indicating potential confidence in the company's future prospects.
The transactions occurred over a two-day period, suggesting a planned and strategic approach to managing Cordonnier's equity holdings in the company.
Cordonnier continues to hold a sizable stake in Carlsmed, Inc., with over 1.5 million shares beneficially owned after the reported transactions, aligning his interests with those of other shareholders.

Current Report Filed: 2026-02-25

Carlsmed, Inc. reported its Q4 and fiscal year 2025 financial results, indicating the company's performance for the year.
The filing indicates that Carlsmed is an emerging growth company, which suggests it may be in the early stages of development.
The company's trading symbol is CARL, and it is listed on the Nasdaq Stock Market, providing investors with a public market to trade the stock.

Annual Report Filed: 2026-02-25

CARLSMED, INC. (CARL) filed its annual 10-K report on 2026-02-25, providing a comprehensive overview of the company's financial and operational performance for the fiscal year ended 2025-12-31.
The company's revenue grew by 17.9% over the past three years, indicating a positive trend in its business. However, the report also highlights increased general and administrative expenses, which could impact profitability.
CARLSMED has entered into several amendments to its customer loan agreement, including the Fifth Amendment in 2025, which may suggest changes in the company's financing structure and liquidity position.

Insider Trading Filed: 2026-01-30

Leonard M. Greenstein, the CFO and Treasurer of Carlsmed, Inc., acquired 44,977 shares of the company's common stock through restricted stock units (RSUs) that will vest over three years.
This insider purchase indicates Greenstein's confidence in the company's future and aligns his interests with those of shareholders.
The vesting schedule of the RSUs suggests a long-term investment perspective, as the shares will not be fully owned by Greenstein for several years.

Insider Trading Filed: 2026-01-30

Michael Cordonnier, the CEO and President of Carlsmed, Inc., acquired 117,316 shares of the company's common stock on January 28, 2026. This represents a direct increase in his ownership stake in the company.
The restricted stock units (RSUs) granted to Cordonnier will vest in three equal annual installments, aligning his incentives with long-term shareholder value creation.
As a director and executive officer, Cordonnier's transaction provides a positive signal about his confidence in the company's future prospects.

Insider Trading Filed: 2026-01-30

Niall Casey, the Chief IP Officer, acquired 44,977 shares of CARLSMED, INC. (CARL) common stock on January 28, 2026, increasing his direct beneficial ownership to 982,562 shares.
The shares acquired were in the form of restricted stock units (RSUs) that will vest in three equal annual installments starting from the first anniversary of the grant date.
The insider buying activity suggests that Niall Casey, a key executive, is confident in the company's future prospects and is aligning his interests with those of shareholders.

Insider Trading Filed: 2026-01-30

The reporting person, William Scott Durall, acquired 44,977 shares of CARLSMED, INC. (CARL) common stock, indicating an increase in his beneficial ownership of the company.
The shares were acquired as restricted stock units (RSUs) that will vest in three equal annual installments, aligning the reporting person's interests with long-term company performance.
This transaction suggests the reporting person, who holds the position of Chief Commercial Officer, has confidence in the company's future prospects and is willing to increase his stake in the business.

Current Report Filed: 2026-01-12

Carlsmed, Inc. reported preliminary and unaudited revenue for the year ended December 31, 2025, indicating potential financial performance for the period.
The company is an emerging growth company, which may provide additional flexibility in financial reporting and accounting standards.
Investors should closely monitor any future press releases or financial reports from Carlsmed, Inc. to assess the company's overall performance and outlook.

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