Carlsmed, Inc. is classed by the SEC under Surgical & Medical Instruments & Apparatus (industry code 3841), based in Carlsbad, CA. Its latest filed balance sheet (2025-12-31) shows total assets of $119 million (its filed statements).
Product businessSurgical & Medical Instruments & ApparatusCarlsbad, CAfilings since 20194 of 9 filed, 5 estimated
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a product business: prior from its industry code (SEC 3841, Surgical & Medical Instruments & Apparatus); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 5.7 out of ten, 4 of 9 metrics filed and 5 estimated: past 5.1 out of ten, present 5.9 out of ten, future 5.8 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
Surviving crises (past): 8.3 out of ten. No warning events in its filings since 2019. 83rd percentile among 121 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Track record (past): 5.1 out of ten. CrossAssetData estimate 5.1/10, confidence 20 of 100 (family median). 50th percentile among 105 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
Shareholder treatment (past): 0.5 out of ten. CrossAssetData estimate 0.5/10, confidence 35 of 100 (one part). 5th percentile among 119 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
Financial health (present): 4.6 out of ten. ROE -30%: lost 30¢ per shareholder dollar. Leverage 24%: owes 24¢ per asset dollar. 46th percentile among 120 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Industry position (present): 5.6 out of ten. top 44% of 109 in its family; net margin -58.7%. 56th percentile among 109 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Leadership (present): 9.2 out of ten. CrossAssetData estimate 9.2/10, confidence 35 of 100 (one part). 92nd percentile among 108 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
Room to expand (future): 6.6 out of ten. top 34% of 104 in its family for room to expand. 66th percentile among 104 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Growth drivers (future): 5.2 out of ten. CrossAssetData estimate 5.2/10, confidence 20 of 100 (family median). 50th percentile among 105 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
Expectations vs reality (future): 5.1 out of ten. CrossAssetData estimate 5.1/10, confidence 20 of 100 (family median). 50th percentile among 88 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
The filing record
Newest annual report: Form 10-K filed 2026-02-25 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-05 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-05 (on EDGAR). Newest filing: Form 4, 2026-10-06. Filings on record since 2019. Read from EDGAR 2026-10-12.
Who runs it
Cordonnier, Michael (CEO, President); Heppenstall, Richard (CFO, Treasurer); Greenstein, Leonard M. (CFO, Treasurer); Bertolini, Jeffrey (Chief Operating Officer); Kamocsay, Jennifer (Chief Legal Officer); Casey, Niall (Chief IP Officer); Durall, William Scott (Chief Commercial Officer); Oboyle, Kevin C (director); Root, Jonathan D (director); Sidow, Kevin (director); and 2 more. 12 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-06.
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