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How Carlsmed, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$50.5M · 100%Cost of revenue$12.5M · 25%Gross profit$38M · 75%Operating income−$30.6M · −61%Income before tax−$29.6M · −59%Income tax$0 · 0%Net income−$29.6M · −59%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$50.5M100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
Cost of revenue$12.5M25%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
$38M75%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
−$30.6M−61%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
Income before tax−$29.6M−59%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
Income tax$00%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
−$29.6M−59%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-071551 · filed Feb 25, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set
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