Carlsmed (CARL) Free Cash Flow (2024 - 2026)
Carlsmed (CARL) posted Free Cash Flow of -$13.1 million for Q1 2026, down 173.02% on a QoQ basis from -$4.8 million in Q4 2025, and down 58.85% year-over-year from -$31.8 million in Q1 2025.
Carlsmed (CARL) Free Cash Flow (2024 - 2026) Analysis & Trends
Carlsmed's Free Cash Flow history runs 3 years deep, the most recent figure standing at -$13.1 million for Q1 2026.
- Quarterly Free Cash Flow fell 58.85% year-over-year to -$13.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$33.9 million (down 69.72% YoY) and the FY2025 annual result came in at -$29.0 million, down 13.95% from the prior year.
- Free Cash Flow was -$13.1 million for Q1 2026 at Carlsmed, down from -$4.8 million in the prior quarter.
- Across five years, Free Cash Flow topped out at -$4.1 million in Q4 2024 and bottomed at -$13.1 million in Q1 2026.
- A 3-year average of -$7.7 million and a median of -$7.6 million in 2024 frame the typical range for Free Cash Flow.
- Annual changes were most pronounced in 2025 — Free Cash Flow fell 12.92% — and 2026, when it plunged 58.85%.
- Carlsmed's Free Cash Flow stood at -$4.1 million in 2024, then retreated by 17.36% to -$4.8 million in 2025, then tumbled by 173.02% to -$13.1 million in 2026.
- Business Quant data shows CARL's Free Cash Flow at -$13.1 million in Q1 2026, -$4.8 million in Q4 2025, and -$8.6 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.81 Bn | 24.49 Bn | 662.02 Mn | 1.13 Bn |
| 2 | BrightSpring Health Services | 14.76 Bn | 13.86 Bn | 482.22 Mn | 101.40 Mn |
| 3 | Healthequity | 8.36 Bn | 8.10 Bn | 256.31 Mn | 81.60 Mn |
| 4 | Hinge Health | 5.91 Bn | 5.60 Bn | 154.23 Mn | 43.00 Mn |
| 5 | 10x Genomics | 5.89 Bn | 5.35 Bn | 106.18 Mn | 26.00 Mn |
| 6 | MiniMed | 4.45 Bn | 4.16 Bn | 480.00 Mn | -226.00 Mn |
| 7 | Waystar Holding | 4.41 Bn | 4.35 Bn | 216.84 Mn | 69.59 Mn |
| 8 | Doximity | 3.93 Bn | 3.18 Bn | 125.97 Mn | 116.17 Mn |
| 9 | Privia Health | 3.10 Bn | 2.68 Bn | - | -48.49 Mn |
| 10 | Carlsmed | 307.54 Mn | 234.42 Mn | 12.43 Mn | -13.09 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -13.09 Mn |
| Mar 31, 2026 | -13.09 Mn |
| Dec 31, 2025 | -4.79 Mn |
| Dec 31, 2025 | -4.79 Mn |
| Sep 30, 2025 | -8.62 Mn |
| Sep 30, 2025 | -8.62 Mn |
| Jun 30, 2025 | -7.37 Mn |
| Jun 30, 2025 | -7.37 Mn |
| Mar 31, 2025 | -8.24 Mn |
| Mar 31, 2025 | -8.24 Mn |
| Dec 31, 2024 | -4.08 Mn |
| Dec 31, 2024 | -4.08 Mn |
| Sep 30, 2024 | -7.63 Mn |
| Sep 30, 2024 | -7.63 Mn |