What is the 13F Pro Quality Score for CARL?

13F Pro ranks CARLSMED, INC. (CARL) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CARL's current score at https://13fpro.ai/research/CARL (free sign-up required for the full ranking).

Where does 13F Pro source CARL data?

All CARLSMED, INC. fundamentals and ownership data come directly from SEC EDGAR. CARLSMED, INC. files with the SEC under CIK 1794546. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CARL in?

CARLSMED, INC. (CARL) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is CARL research updated on 13F Pro?

CARL's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

CARLSMED, INC.(CARL)Stock Analysis

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13F Pro Quality Score

45.1/100

Rank #1,736 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

95.9/100

Profitability

30.0/100

Balance Sheet

30.0/100

Earnings Quality

30.0/100

Free Cash Flow

30.0/100

Institutional Flow

68.5/100

Revenue Scale

30.0/100

Dilution Risk

29.8/100

CARL Stock Analysis & AI Quality Score

AI stock analysis and institutional research for CARLSMED, INC. (CARL), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores CARL at 45.1/100 on a 32-signal composite quality model, placing it at rank #1,736 of 2,879 stocks — the bottom half of the AI-ranked universe. CARL scores in the top quartile across revenue growth (95.9). Areas of concern include profitability (30.0) and balance sheet strength (30.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 29.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), CARLSMED, INC. reports quarterly revenue of $16.1M, net income of $-8.7M, an operating margin of -57.6%. Top institutional holders of CARL by reported 13-F value include ORBIMED ADVISORS, JANUS HENDERSON GROUP PLC, Parkman Healthcare Partners, based on the most recent SEC filings. CARL trades on the Nasdaq exchange and files with the SEC under CIK 1794546. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CARL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CARLSMED, INC. directly from SEC EDGAR.

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Fun facts about CARLSMED, INC.

Quirks, history, and lore behind CARL — the kind of stuff that makes a stock memorable.

1
The Basics
A small-cap U.S. medical technology company · listed on Nasdaq · focused on spine surgery.
2
The Numbers
A pre-revenue or early-revenue stage company, with its commercial push beginning in the early 2020s — still burning cash as it builds out its surgical platform.
3
The History
Founded in the 2010s, it went public via a traditional IPO on Nasdaq and is headquartered in Southern California.
4
The Secret
Its core technology uses AI-driven preoperative planning to design patient-specific implants for spinal fusion — no two implants are exactly alike.
5
The Lore
The company's pitch is that off-the-shelf spinal implants are a relic — its platform lets surgeons order a device custom-built for each patient's anatomy before they ever enter the OR.
6
The Giveaway
Its ticker spells a first name, its company name references the San Diego suburb where it was born, and it's trying to make personalized spinal implants as routine as ordering a fitted suit.

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Revenue

Q1 2026

$16.1M

Net Income

Q1 2026

$-8.7M

Free Cash Flow

Q1 2026

$-13.1M

Operating Margin

Q1 2026

-57.6%

D/E Ratio

Q1 2026

0.17

AI Insight: CARL Financial Trends

CARL shows modest revenue growth to $16M in Q1 2026 but equity continues declining amid persistent $9M quarterly losses.

• Revenue grew from $13M in Q3 2025 to $16M in Q1 2026, showing sequential improvement.

• Net income remained steady at $-9M loss across Q3 2025 through Q1 2026.

• Equity declined from $107M in Q3 2025 to $92M in Q1 2026 despite no debt increase.

⚠ Operating cash flow worsened from $-5M in Q4 2025 to $-13M in Q1 2026.

⚠ Company maintains stable $15M debt level while burning through equity reserves.

AI Insight: CARL Ratio Trends

CARLSMED shows gradual margin improvement but remains deeply unprofitable with operating margins of -57.6% in Q1 2026.

• Operating margin improved from -69.1% in Q3 2025 to -57.6% in Q1 2026, narrowing losses by 11.5pp.

• Net profit margin followed similar trajectory, improving from -65.2% to -54.0% over the same period.

• Return metrics deteriorated with ROE declining from -32.0% in Q3 2025 to -37.7% in Q1 2026.

⚠ ROIC continued weakening to -34.5% in Q1 2026, indicating poor capital efficiency despite margin gains.

⚠ Debt-to-equity ratio gradually increased from 0.14 to 0.17, suggesting rising leverage amid losses.

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Available Research

13F Pro tracks comprehensive data for CARLSMED, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CARL

ORBIMED ADVISORS LLC
$11.3M1,252,600 sh
JANUS HENDERSON GROUP PLC
$11.1M1,227,452 sh
Parkman Healthcare Partners LLC
$4.7M521,123 sh
BlackRock, Inc.
$4.0M446,892 sh
Schonfeld Strategic Advisors LLC
$2.6M283,180 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.5M276,131 sh
KCM Capital Inc
$1.8M200,000 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.7M193,173 sh
Russell Investments Group, Ltd.
$1.4M159,291 sh
STATE STREET CORP
$1.0M113,717 sh

Fund	Value	Shares
ORBIMED ADVISORS LLC	$11.3M	1,252,600
JANUS HENDERSON GROUP PLC	$11.1M	1,227,452
Parkman Healthcare Partners LLC	$4.7M	521,123
BlackRock, Inc.	$4.0M	446,892
Schonfeld Strategic Advisors LLC	$2.6M	283,180
VANGUARD CAPITAL MANAGEMENT LLC	$2.5M	276,131
KCM Capital Inc	$1.8M	200,000
GEODE CAPITAL MANAGEMENT, LLC	$1.7M	193,173
Russell Investments Group, Ltd.	$1.4M	159,291
STATE STREET CORP	$1.0M	113,717

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Is CARL a good stock to buy?

13F Pro's AI-powered analysis of CARLSMED, INC. (CARL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CARL are available on the CARL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own CARL?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CARL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of CARLSMED, INC.'s investment landscape.