Carlsmed
CARL · NASDAQ · Healthcare
$15.58
+$0.19 (+1.23%) today
Market Cap
$425.38M
24h Volume
$3.7M
P/E Ratio
0.0
52w High
$16.99
52w Low
$8.83
Est. AI Revenue
100%
7-Day Sparkline (Static)
Company facts
Performance
About Carlsmed
Carlsmed personalizes spine surgery with AI. Its aprevo platform uses AI powered software to design patient specific interbody implants and surgical plans from a patient's imaging, and the devices are then 3D printed in titanium for that single operation. Revenue comes from selling these personalized implants and associated instruments for spinal fusion procedures.
The aprevo system covers lumbar and cervical fusion, with each implant matched to the patient's anatomy and the surgeon's correction plan. The platform earned FDA Breakthrough Device designation, and Carlsmed argues personalized devices improve alignment outcomes compared with off the shelf implants. Completed cases feed data back into the planning models.
Founded in 2018 and headquartered in Carlsbad, California, Carlsmed employs around 130 people and trades on the NASDAQ.
Carlsmed in the AI buildout
Carlsmed sits in the AI Healthcare layer at the intersection of AI design and additive manufacturing. Its models turn imaging into implant geometry, so AI is the design engine even though monetization runs through physical implants and instruments. That hybrid puts it a notch below software only medical AI in exposure terms. The thesis depends on surgeon adoption, reimbursement for personalized devices, and the feedback loop where each completed case adds data that improves the planning models.
CARL is tracked in AI Healthcare, rated Core on the AI Exposure leaderboard.
By the numbers
52-week range
CARL trades at $15.58, 83% of the way up its 52-week range of $8.83 to $16.99.
Market cap
Market capitalization is $425.38M, with an AI Exposure Score of 85 out of 100.
Next earnings
Carlsmed is next expected to report earnings on November 5, 2026.
Market data as of the close on . Prices are end of day, not live.
Frequently asked questions
What does Carlsmed do?
Carlsmed makes personalized spine surgery devices. Its aprevo platform designs patient specific interbody implants and surgical plans using AI software applied to each patient's imaging, then manufactures the implants with 3D printing for use in spinal fusion procedures.
How is Carlsmed exposed to AI?
AI designs every product the company sells; there is no off the shelf implant line. Monetization runs through hardware rather than software fees. Supercycle rates it Core with an AI Exposure Score of 85 out of 100.
What is aprevo?
aprevo is Carlsmed's personalized surgery platform for spinal fusion. It converts a patient's CT imaging into a digital surgical plan and custom 3D printed titanium interbody implants matched to that plan, covering lumbar and cervical procedures. It received FDA Breakthrough Device designation.
Is CARL a pure play AI stock?
By product dependence, yes: everything it sells is AI designed. Supercycle nonetheless rates it Core at 85 because revenue arrives as implants and instruments, hardware economics rather than software economics, keeping it just below the Pure Play tier.
Who leads Carlsmed?
Co-founder Michael Cordonnier serves as chief executive. He founded the company in 2018 with Niall Casey, combining backgrounds in spine devices and engineering to pursue personalized surgery, and led Carlsmed through its public listing in 2025.
Profile written 2026-08, updated as the business changes. Editorial content, not investment advice.