Carlsmed (CARL) Operating Expenses (2024 - 2026)
Carlsmed's (CARL) quarterly Operating Expenses came in at $21.7 million in Q1 2026, up 62.49% YoY from $13.4 million in Q1 2025, and up 3.7% on a QoQ basis from $20.9 million in Q4 2025.
Carlsmed (CARL) Operating Expenses (2024 - 2026) Analysis & Trends
Carlsmed (CARL) has 3 years of Operating Expenses data on file, last reported at $21.7 million in Q1 2026.
- Quarterly Operating Expenses rose 62.49% year-over-year to $21.7 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $77.0 million (up 58.58% YoY) and the FY2025 annual result came in at $68.6 million, up 55.34% from the prior year.
- Operating Expenses grew to $21.7 million in Q1 2026, from $20.9 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $21.7 million in Q1 2026 to a low of $10.9 million in Q2 2024.
- A 3-year average of $15.7 million and a median of $14.4 million in 2025 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 78.53% in 2025, down 41.26% in 2025.
- Tracing CARL's Operating Expenses over 3 years: stood at $11.7 million in 2024, then soared by 78.53% to $20.9 million in 2025, then rose by 3.7% to $21.7 million in 2026.
- The last three Operating Expenses figures came in at $21.7 million (Q1 2026), $20.9 million (Q4 2025), and $19.0 million (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 362.36 Mn |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 153.36 Mn |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 132.05 Mn |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 143.51 Mn |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 243.63 Mn |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 99.28 Mn |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 71.09 Mn |
| 10 | Carlsmed | 389.87 Mn | 276.57 Mn | 14.54 Mn | 25.58 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 25.58 Mn |
| Mar 31, 2026 | 21.70 Mn |
| Dec 31, 2025 | 20.93 Mn |
| Sep 30, 2025 | 18.96 Mn |
| Jun 30, 2025 | 15.37 Mn |
| Mar 31, 2025 | 13.36 Mn |
| Dec 31, 2024 | 11.72 Mn |
| Sep 30, 2024 | 12.58 Mn |
| Jun 30, 2024 | 10.88 Mn |