Carlsmed (CARL) Operating Expenses (2024 - 2026)
Carlsmed (CARL) posted Operating Expenses of $21.7 million for Q1 2026, up 3.7% on a QoQ basis from $20.9 million in Q4 2025, and up 62.49% year-over-year from $13.4 million in Q1 2025.
Carlsmed (CARL) Operating Expenses (2024 - 2026) Analysis & Trends
Carlsmed's Operating Expenses history runs 3 years deep, the most recent figure standing at $21.7 million for 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 was $21.7 million for Q1 2026 at Carlsmed, 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.
- A 3-year average of $15.7 million and a median of $14.4 million in 2025 frame the typical range for Operating Expenses.
- Peak annual rise in Operating Expenses reached 78.53% in 2025, while the deepest fall reached 41.26% in 2025.
- Carlsmed's Operating Expenses stood at $11.7 million in 2024, then surged by 78.53% to $20.9 million in 2025, then advanced by 3.7% to $21.7 million in 2026.
- Business Quant data shows CARL's Operating Expenses at $21.7 million in Q1 2026, $20.9 million in Q4 2025, and $19.0 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.81 Bn | 24.49 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 14.76 Bn | 13.86 Bn | 482.22 Mn | 360.77 Mn |
| 3 | Healthequity | 8.36 Bn | 8.10 Bn | 256.31 Mn | 153.36 Mn |
| 4 | Hinge Health | 5.91 Bn | 5.60 Bn | 154.23 Mn | 122.16 Mn |
| 5 | 10x Genomics | 5.89 Bn | 5.35 Bn | 106.18 Mn | 123.22 Mn |
| 6 | MiniMed | 4.45 Bn | 4.16 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.41 Bn | 4.35 Bn | 216.84 Mn | 233.41 Mn |
| 8 | Doximity | 3.93 Bn | 3.18 Bn | 125.97 Mn | 101.14 Mn |
| 9 | Privia Health | 3.10 Bn | 2.68 Bn | - | 596.43 Mn |
| 10 | Carlsmed | 307.54 Mn | 234.42 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 |