Carlsmed (CARL) Free Cash Flow (2024 - 2026)
Carlsmed's (CARL) quarterly Free Cash Flow came in at -$13.1 million in Q1 2026, down 58.85% YoY from -$31.8 million in Q1 2025, and down 173.02% on a QoQ basis from -$4.8 million in Q4 2025.
Carlsmed (CARL) Free Cash Flow (2024 - 2026) Analysis & Trends
Carlsmed (CARL) has 3 years of Free Cash Flow data on file, last reported at -$13.1 million in 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 slipped to -$13.1 million in Q1 2026, from -$4.8 million in the prior quarter.
- In the past five years, Free Cash Flow ranged from a high of -$4.1 million in Q4 2024 to a low of -$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 slipped 12.92% — and 2026, when it sank 58.85%.
- Tracing CARL's Free Cash Flow over 3 years: stood at -$4.1 million in 2024, then declined by 17.36% to -$4.8 million in 2025, then sank by 173.02% to -$13.1 million in 2026.
- The last three Free Cash Flow figures came in at -$13.1 million (Q1 2026), -$4.8 million (Q4 2025), and -$8.6 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 1.13 Bn |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 14.88 Mn |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 81.60 Mn |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 15.39 Mn |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 99.68 Mn |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -226.00 Mn |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 43.30 Mn |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 39.67 Mn |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | - |
| 10 | Carlsmed | 389.87 Mn | 276.57 Mn | 14.54 Mn | -7.99 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -7.99 Mn |
| Jun 30, 2026 | -7.99 Mn |
| 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 |