Growth Metrics

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 🔒
DateValue
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