🚀 VC round data is live in beta, check it out!
Carlsmed Valuation Multiples
Discover revenue and EBITDA valuation multiples for Carlsmed and similar public comparables like NIOX Group, Asterasys, Universal Vision, Senseonics Holdings and more.
Carlsmed Overview
About Carlsmed
Carlsmed Inc is a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. It is focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of AI-enabled software solutions, and interbody implants that it custom design for each patient's unique pathology and vertebral bone topography, and single-use surgical instruments. The Company designs, manufactures, and markets aprevo, a comprehensive technology platform for spine fusion surgery procedures.
Founded
2018
HQ
Employees
100
Website
Financials (LTM)
EV
$258M
Carlsmed Financials
Carlsmed reported last 12-month revenue of $56M and negative EBITDA of ($30M).
In the same LTM period, Carlsmed generated $42M in gross profit, ($30M) in EBITDA losses, and had net loss of ($33M).
Revenue (LTM)
Carlsmed P&L
In the most recent fiscal year, Carlsmed reported revenue of $51M and EBITDA of ($28M).
Carlsmed expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $56M | XXX | $51M | XXX | XXX | XXX |
| Gross Profit | $42M | XXX | $38M | XXX | XXX | XXX |
| Gross Margin | 76% | XXX | 75% | XXX | XXX | XXX |
| EBITDA | ($30M) | XXX | ($28M) | XXX | XXX | XXX |
| EBITDA Margin | (54%) | XXX | (55%) | XXX | XXX | XXX |
| EBIT Margin | (61%) | XXX | (60%) | XXX | XXX | XXX |
| Net Profit | ($33M) | XXX | ($30M) | XXX | XXX | XXX |
| Net Margin | (59%) | XXX | (59%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Carlsmed Stock Performance
Carlsmed has current market cap of $356M, and enterprise value of $258M.
Market Cap Evolution
Carlsmed's stock price is $13.37.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $258M | $356M | 0.0% | XXX | XXX | XXX | $-1.11 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialCarlsmed Valuation Multiples
Carlsmed trades at 4.6x EV/Revenue multiple, and (8.5x) EV/EBITDA.
EV / Revenue (LTM)
Carlsmed Financial Valuation Multiples
As of March 29, 2026, Carlsmed has market cap of $356M and EV of $258M.
Equity research analysts estimate Carlsmed's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Carlsmed has a P/E ratio of (10.7x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $356M | XXX | $356M | XXX | XXX | XXX |
| EV (current) | $258M | XXX | $258M | XXX | XXX | XXX |
| EV/Revenue | 4.6x | XXX | 5.1x | XXX | XXX | XXX |
| EV/EBITDA | (8.5x) | XXX | (9.2x) | XXX | XXX | XXX |
| EV/EBIT | (7.6x) | XXX | (8.4x) | XXX | XXX | XXX |
| EV/Gross Profit | 6.1x | XXX | 6.8x | XXX | XXX | XXX |
| P/E | (10.7x) | XXX | (12.0x) | XXX | XXX | XXX |
| EV/FCF | — | XXX | (8.5x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Carlsmed Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Carlsmed Margins & Growth Rates
Carlsmed's revenue in the last 12 month grew by 43%.
Carlsmed's revenue per employee in the last FY averaged $0.6M.
Carlsmed's rule of 40 is (11%) (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Carlsmed's rule of X is 54% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Carlsmed Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 43% | XXX | 44% | XXX | XXX | XXX |
| EBITDA Margin | (54%) | XXX | (55%) | XXX | XXX | XXX |
| EBITDA Growth | 17% | XXX | 32% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | (11%) | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 54% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 69% | XXX | 69% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 32% | XXX | 33% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 35% | XXX | 34% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 136% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Carlsmed Public Comps
See public comps and valuation multiples for other Medical Devices comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| NIOX Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Asterasys | XXX | XXX | XXX | XXX | XXX | XXX |
| Universal Vision | XXX | XXX | XXX | XXX | XXX | XXX |
| Senseonics Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| CellaVision | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Carlsmed M&A Activity
Carlsmed acquired XXX companies to date.
Last acquisition by Carlsmed was on XXXXXXXX, XXXXX. Carlsmed acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Carlsmed
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialCarlsmed Investment Activity
Carlsmed invested in XXX companies to date.
Carlsmed made its latest investment on XXXXXXXX, XXXXX. Carlsmed invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Carlsmed
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Carlsmed
| When was Carlsmed founded? | Carlsmed was founded in 2018. |
| Where is Carlsmed headquartered? | Carlsmed is headquartered in United States. |
| How many employees does Carlsmed have? | As of today, Carlsmed has over 100 employees. |
| Is Carlsmed publicly listed? | Yes, Carlsmed is a public company listed on Nasdaq. |
| What is the stock symbol of Carlsmed? | Carlsmed trades under CARL ticker. |
| When did Carlsmed go public? | Carlsmed went public in 2025. |
| Who are competitors of Carlsmed? | Carlsmed main competitors are NIOX Group, Asterasys, Universal Vision, Senseonics Holdings. |
| What is the current market cap of Carlsmed? | Carlsmed's current market cap is $356M. |
| What is the current revenue of Carlsmed? | Carlsmed's last 12 months revenue is $56M. |
| What is the current revenue growth of Carlsmed? | Carlsmed revenue growth (NTM/LTM) is 43%. |
| What is the current EV/Revenue multiple of Carlsmed? | Current revenue multiple of Carlsmed is 4.6x. |
| Is Carlsmed profitable? | No, Carlsmed is not profitable. |
| What is the current EBITDA of Carlsmed? | Carlsmed has negative EBITDA and is not profitable. |
| What is Carlsmed's EBITDA margin? | Carlsmed's last 12 months EBITDA margin is (54%). |
| What is the current EV/EBITDA multiple of Carlsmed? | Current EBITDA multiple of Carlsmed is (8.5x). |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.