Carlsmed (CARL) Operating Expenses (2024 - 2026)
Carlsmed posted quarterly Operating Expenses of $21.7 million for Q1 2026, up 62.49% year-on-year from $13.4 million in Q1 2025, and up 3.7% on a QoQ basis from $20.9 million in Q4 2025.
Carlsmed (CARL) has 3 years of Operating Expenses data on file, last reported at $21.7 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 62.49% year-over-year to $21.7 million; the trailing twelve-month figure through Mar 2026 stood at $77.0 million (up 58.58% YoY), and the FY2025 full-year result was $68.6 million, up 55.34% from the prior year.
- Operating Expenses for Q1 2026 stood at $21.7 million, up from $20.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $21.7 million in Q1 2026 and bottomed at $10.9 million in Q2 2024.
- The 3-year median for Operating Expenses is $14.4 million (2025), against an average of $15.7 million.
- Peak annual rise in Operating Expenses reached 78.53% in 2025, while the deepest fall reached 41.26% in 2025.
- A 3-year view of Operating Expenses shows it stood at $11.7 million in 2024, then jumped by 78.53% to $20.9 million in 2025, then gained 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.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 376.60 Mn |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 360.77 Mn |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 153.36 Mn |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 122.16 Mn |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 101.14 Mn |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 233.41 Mn |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 123.22 Mn |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 596.43 Mn |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 123.51 Mn |
| 10 | Carlsmed | 298.68 Mn | 201.48 Mn | 12.43 Mn | 21.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |