CARL

Enovis (ENOV) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.75 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +15.79%. A quarter ago, it was expected that this manufacturing and engineering company would post earnings of $0.83 per share when it actually produced earnings of $0.9, delivering a surprise of +8.43%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Enovis, which belongs to the Zacks Medical Info Systems industry, posted revenues of $558.73 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 0.56%. This compares to year-ago revenues of $548.91 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Enovis shares have lost about 8.3% since the beginning of the year versus the S&P 500's gain of 12.3%. While Enovis has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Enovis was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.09 on $615.13 million in revenues for the coming quarter and $3.64 on $2.34 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Info Systems is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Carlsmed, Inc. (CARL), has yet to report results for the quarter ended September 2026. The results are expected to be released on November 10. This company is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of -5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Carlsmed, Inc.'s revenues are expected to be $19.58 million, up 49.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enovis Corporation (ENOV) : Free Stock Analysis Report Carlsmed, Inc. (CARL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: $18.9 million in Q2 2026, a 57% increase year-over-year from $12.1 million in Q2 2025. Gross Margin: 76.8% in Q2 2026, up 340 basis points from 73.4% in Q2 2025. Operating Expenses: $25.6 million in Q2 2026, compared to $15.4 million in Q2 2025. R&D Expenses: $6.0 million in Q2 2026, up from $4.2 million in Q2 2025. Sales and Marketing Expenses: $11.9 million in Q2 2026, compared to $7.9 million in Q2 2025. G&A Expenses: $7.6 million in Q2 2026, compared to $3.3 million in Q2 2025. Net Loss: GAAP net loss of $10.5 million in Q2 2026, compared to a net loss of $6.8 million in Q2 2025. Adjusted EBITDA: Negative $8.6 million in Q2 2026, compared to negative $6.2 million in Q2 2025. Cash and Investments: $89.3 million as of June 30, 2026. Cash Used in Operating Activities: $7.4 million in Q2 2026, compared to $8.2 million in Q2 2025. Revenue by Product Line: Lumbar fusion procedures represented approximately 90% of Q2 revenue; cervical fusion procedures represented approximately 10%. Full Year 2026 Revenue Guidance: Raised to between $74 million and $78 million, representing over 50% growth at the midpoint over full year 2025. Warning! GuruFocus has detected 2 Warning Sign with CARL. Is CARL fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Carlsmed Inc (NASDAQ:CARL) delivered strong Q2 2026 revenue of $18.9 million, a 57% year-over-year increase, driven by robust surgeon adoption and procedure volume growth. The company's surgeon user base grew by more than 60% year-over-year, indicating strong market traction and expanding adoption of the aprevo platform. CMS issued a favorable final rule creating three new MS-DRG codes for aprevo lumbar procedures, simplifying coding and enhancing hospital reimbursement, which is expected to expand access. Gross margins expanded by 340 basis points year-over-year to 76.8%, reflecting operational efficiencies and a capital-light, digital-first business model. The company is on track for multiple product launches in Q4 2026, including the aprevo lumbar bilateral system and CORA cervical plating system, which are expected to drive further growth. Carlsmed Inc (NASDAQ:CARL) raised its full-year 2026 revenue guidance to $74-$78 million, representing over 50% growth at the midpoint, reflecting strong first-half performance and confidence in the second half. The company reported a GAAP net loss of $10.5 million in Q2 2026, wider than the $6.8 million loss in the prior year, indicating increasing losses despite revenue growth. Total operating expenses increased significantly to $25.6 million in Q2 2026, up from $15.4 million in Q2 2025, driven by higher R&D, sales and marketing, and G&A costs. Adjusted EBITDA remained negative at -$8.6 million in Q2 2026, compared to -$6.2 million in the prior year, showing continued cash burn. The company's guidance implies a deceleration in revenue growth in the second half of 2026, with a midpoint growth rate of 45% versus the 57% achieved in Q2, suggesting potential headwinds or conservatism. The new CMS reimbursement ruling is not expected to have a material impact on second-half 2026 revenue, with benefits likely deferred to 2027, limiting near-term upside. The company faces increasing competition as competitors plan to introduce their own custom implants, which could pressure market share and pricing in the future. Q: How should we think about the second-half revenue cadence, and is the potential for procedures to be pushed into Q4 due to the new DRG reimbursement structure factored into guidance?A: Mike Cordonnier, CEO, stated that while Q3 typically has some variability in procedure volume, the company does not anticipate the recent CMS ruling to have a material impact on the strong second-half business. He views the new ruling, along with product pipeline catalysts, as being highly beneficial for 2027 and beyond as the company scales and expands hospital access. Q: What is the potential impact of the new CMS IPPS final rule that creates three new MS-DRG codes for aprevo lumbar procedures?A: Mike Cordonnier, CEO, explained that the new reimbursement structure, effective October 1, 2026, simplifies coding and enhances reimbursement for hospitals. While the company is not baking incremental revenue from this ruling into 2026 guidance, it is expected to be a significant tailwind into 2027 by accelerating the hospital Value Analysis Committee (VAC) process, expanding coverage in new hospital systems, and deepening penetration within the existing surgeon base. Q: Can you provide an update on the expected revenue mix between lumbar and cervical procedures, and the pricing dynamics for the back half of the year?A: Leo Greensbank, CFO, stated that cervical volumes are expected to see an ongoing uptick, with cervical projected to be in the low double digits (11%-12%) of revenue in the second half. He noted that the average revenue per procedure (ARP) was roughly $29,000 for lumbar and $18,000 for cervical in Q2, and these levels are expected to persist. The upcoming launch of the CORA plating system is expected to provide a modest uplift in cervical ARP. Q: What is driving the strong growth in new surgeon adds, and how might the new reimbursement benefits impact this trend?A: Mike Cordonnier, CEO, attributed the strong quarter for new surgeon adds to the launch of the aprevo Cervical platform, which has attracted both existing lumbar users and surgeons new to aprevo. He noted an acceleration in new surgeon users adopting both lumbar and cervical procedures, which provides confidence in ongoing growth for both franchises. Q: What are the plans for the upcoming launch of the CORA Cervical Plating System, and what is the expected market impact?A: Mike Cordonnier, CEO, confirmed that the CORA cervical plating system is on track for a full commercial launch in Q4, following a successful limited market evaluation. The system allows for a fully personalized ACDF procedure and is expected to provide a slight uptick in average revenue per procedure for the cervical franchise. With approximately 60% of cervical ACDF procedures utilizing fixation plates, there is significant potential for adoption. Q: How should we think about the long-term gross margin trajectory?A: Leo Greensbank, CFO, stated that over the next 24 months, the company sees opportunities to reach the higher end of the 70s and potentially into the lower end of the 80s. He highlighted that the capital-light, digital-first model is highly scalable, and the focus remains on optimizing the digital production system to sustain gross margins in the high 70s while driving operating expense leverage. Q: How is the company thinking about growth in 2027 and beyondis it more of a pricing or volume opportunity?A: Mike Cordonnier, CEO, stated that the company anticipates maintaining its average revenue per procedure largely where it is and will focus on increasing partnerships with hospitals and accelerating access. Net-net, the growth strategy is driven by procedure volume growth rather than growth through ARP. Q: How is the company responding to increased competition in the custom implant space?A: Mike Cordonnier, CEO, expressed confidence in the company's growth profile as the only pure-play AI-enabled personalized surgery company. He views the increased investment in innovation from competitors as a positive tipping point for the industry, which is ripe for innovation, and believes Carlsmed is well-positioned to maintain its leadership. Q: Can you provide an update on the aprevo Cervical Effectiveness (ACE) registry and its expected timeline?A: Mike Cordonnier, CEO, announced that the company has received IRB approval for the ACE multi-center registry, which will collect real-world evidence from patients treated with aprevo Cervical at six-month, one-year, and two-year time points. Enrollment is on track to commence in Q4, with anticipation of more than a dozen sites and over 300 total patients enrolled. Q: What is the status of the aprevo bilateral system launch, and what is the market opportunity?A: Mike Cordonnier, CEO, stated that the limited market evaluation of the aprevo bilateral system has received strong early feedback from surgeons, highlighting the benefits of preoperative 3D digital planning and seamless integration into posterior bilateral techniques. The company remains on track for a Q4 commercial launch, addressing an estimated 30,000 procedures annually in the US. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Carlsmed, Inc.? Here are five stocks we like better. Carlsmed’s Q2 revenue rose 57% year over year to $18.9 million, driven by higher adoption of its aprevo lumbar platform and newer cervical offering. The surgeon user base grew more than 60%. The company raised its 2026 revenue outlook to $74 million-$78 million, while noting that a new Medicare reimbursement structure is expected to support hospital access primarily from 2027 onward. Gross margin improved to 76.8%, but higher research, sales and administrative costs widened the GAAP net loss to $10.5 million. Carlsmed also expects fourth-quarter launches for its aprevo Bilateral system and Corra Cervical Plating System. Carlsmed (NASDAQ:CARL) reported second-quarter 2026 revenue of $18.9 million, up 57% from $12.1 million a year earlier, as growth in its aprevo lumbar platform and contributions from its newer cervical offering lifted procedure volumes. Chairman and Chief Executive Officer Mike Cordonnier said the company’s surgeon user base increased by more than 60% year over year. He attributed growth to new surgeon onboarding, increased utilization among existing customers and demand for aprevo in higher-acuity lumbar and cervical fusion procedures. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “We had a really great quarter and really great year with new surgeon adds,” Cordonnier said during the company’s earnings call. He added that some surgeons were adopting both lumbar and cervical offerings for the first time, contributing to an acceleration in new users. Carlsmed raised its full-year 2026 revenue outlook to $74 million to $78 million. At the midpoint, the forecast represents growth of more than 50% over 2025, according to management. → 3 Drone Stocks That Should Soar After the Summer Slump Chief Financial Officer Leo Greenstein said the revised outlook reflects volume growth in the first half and expectations for continued growth in both aprevo lumbar and aprevo Cervical during the second half. The company said it was not incorporating incremental revenue from a recent Medicare reimbursement rule into its guidance, viewing that change primarily as a catalyst for 2027 and beyond. Greenstein described the outlook as prudent. While first-half revenue grew 57% year over year, the midpoint of the full-year guidance implies 45% growth in the second half compared with the same period of 2025, he said. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure Management highlighted a final rule issued by the Centers for Medicare & Medicaid Services on July 31. The FY 2027 Inpatient Prospective Payment System rule creates three new Medicare Severity Diagnosis-Related Group, or MS-DRG, codes for aprevo lumbar procedures—523, 524 and 525—replacing 11 previously applicable codes. The reimbursement structure becomes effective Oct. 1, 2026. Cordonnier said the changes simplify coding and enhance hospital reimbursement for aprevo lumbar procedures, which the company believes could broaden hospital and patient access. However, management said it does not expect the rule to have a material impact on second-half 2026 results. Cordonnier said the company sees the policy as beneficial for hospital partnerships and procedure access over the long term, while Greenstein said hospitals will need time to absorb the new rule and complete coverage processes. Carlsmed expects growth from the opportunity to be driven mainly by procedure volume rather than changes in average revenue per procedure. Greenstein said lumbar average revenue per procedure was about $29,000 in the second quarter, while cervical average revenue per procedure was about $18,000, and the company expects those levels to persist in coming quarters. Second-quarter gross margin expanded 340 basis points year over year to 76.8%, from 73.4%. Greenstein said lower contract-manufacturer costs per unit and efficiency improvements in the company’s digital production system more than offset product-mix effects. Carlsmed expects to sustain gross margins in the high 70% range during the second half. Looking further ahead, Greenstein said the company sees an opportunity to reach the higher end of the 70% range and potentially the low 80% range over the next 24 months through further production-system improvements. Operating expenses rose to $25.6 million from $15.4 million a year earlier. Research and development spending increased to $6 million, driven primarily by personnel costs related to product-development priorities and artificial-intelligence initiatives. Sales and marketing expense rose to $11.9 million as the company added sales personnel, expanded targeted marketing and paid higher variable commissions tied to revenue growth. General and administrative expense increased to $7.6 million from $3.3 million, reflecting personnel additions, professional services, legal fees and compliance costs. The company reported a GAAP net loss of $10.5 million, compared with a $6.8 million loss in the prior-year quarter. Adjusted EBITDA was negative $8.6 million, compared with negative $6.2 million a year earlier. As of June 30, Carlsmed had $89.3 million in cash and investments and total liabilities of $34 million. Its liabilities included $15.6 million of outstanding principal under a $50 million debt facility maturing in October 2030. Cash used in operating activities was $7.4 million during the quarter, compared with $8.2 million a year earlier. Lumbar procedures accounted for about 90% of second-quarter revenue, while cervical procedures represented about 10%. Management expects cervical revenue to reach roughly 11% to 12% of revenue in the second half as adoption continues to build. The company remains on track for a fourth-quarter commercial launch of its aprevo Bilateral system, a lumbar offering being evaluated in a limited market release. Cordonnier said early surgeon feedback has pointed to the system’s preoperative 3D planning and visualization capabilities, as well as integration with posterior bilateral surgical techniques. Carlsmed also plans a fourth-quarter commercial launch for its Corra Cervical Plating System. The company is currently conducting a limited market evaluation and expects the full launch to coincide with a fall medical society meeting. Cordonnier said Corra could provide a modest increase in cervical average revenue per procedure. Separately, Carlsmed received institutional review board approval for its aprevo Cervical Effectiveness, or ACE, multicenter registry. The company expects enrollment to begin in the fourth quarter, with more than a dozen sites and over 300 patients anticipated. The registry is designed to collect real-world evidence at six-month, one-year and two-year intervals. Cordonnier also cited a retrospective cohort study published in the Global Spine Journal that found a 74% reduction in reoperations among adult spinal deformity patients treated with aprevo personalized lumbar implants. We are 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. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient's unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”). This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Carlsmed Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Second quarter 2026 revenue of $18.9 million, representing 57% growth year-over-year Full year 2026 revenue guidance raised to $74 million to $78 million CARLSBAD, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Carlsmed, Inc. (Nasdaq: CARL) (“Carlsmed” or the “Company”), a medical technology company pioneering AI-enabled personalized spine surgery solutions, today reported financial results for the second quarter ended June 30, 2026. “Our second quarter 2026 results reflect the growing momentum of aprevo® procedures and further progress on our path to profitability,” said Mike Cordonnier, Chairman and Chief Executive Officer. "We delivered 57% revenue growth year-over-year, expanded gross margins by 340 basis points, and grew our trained surgeon user base by more than 60% over the prior year. We continue to see strong volume growth across lumbar and cervical aprevo® procedures, with continued advancements in our proprietary digital production system enabling scalability ahead of strong market demand. We believe the recent CMS ruling – which takes effect on October 1, 2026, and provides new and enhanced hospital reimbursement for the aprevo® lumbar procedure – positions us well for ongoing growth in the years to come." Recent Business Highlights Surgeon adoption grew significantly, with total trained surgeon users up over 60% year-over-year, led by strong engagement from early-career and post-fellowship surgeons CMS Inpatient Prospective Payment System (IPPS) rule for fiscal year 2027 recently finalized to include three new MS-DRG codes and favorable reimbursement for inpatient aprevo® lumbar procedures, a significant milestone towards expanding access for Medicare patients aprevo® cervical completed second full quarter of commercialization, now representing approximately 10% of quarterly revenue, with surgeon training on the platform expanding significantly since last quarter Raised full-year 2026 revenue guidance to a range of $74–$78 million, over 50% growth at the midpoint versus full-year 2025, reflecting strong volume trends and a robust pipeline Second Quarter 2026 Financial Results Revenue was $18.9 million for the second quarter of 2026, a 57% increase compared to $12.1 million in the second quarter of 2025. Gross profit for the second quarter of 2026 was $14.5 million compared to $8.9 million for the second quarter of 2025. Gross margin was 76.8% for the second quarter of 2026, compared with 73.4% in the second quarter of 2025. Operating expenses were $25.6 million for the second quarter of 2026, compared with $15.4 million for the second quarter of 2025, which consisted of: Net loss was ($10.5) million for the second quarter of 2026, compared to a ($6.8) million net loss for the second quarter of 2025. Adjusted EBITDA was ($8.6) million for the second quarter of 2026, compared to ($6.2) million for the second quarter of 2025. Cash and cash equivalents, restricted cash, short-term investments, and marketable securities were $89.3 million as of June 30, 2026. 2026 Financial Outlook Revenue for the full year 2026 is expected to be in the range of $74 to $78 million, representing growth of over 50% at the midpoint of the range over 2025. This compares to prior guidance of $72 to $77 million. Webcast & Conference Call Details Carlsmed will host a conference call and concurrent webcast today at 4:30 pm Eastern Time (1:30 pm Pacific Time), to review the Company’s performance. A live webcast of the conference call will be available in the Events & Presentations section of the Company’s investor website at investors.carlsmed.com. A replay will be archived on the Company’s website following completion of the call. Non-GAAP Financial Measures This press release contains certain financial information that is not presented in conformity with U.S. generally accepted accounting principles (“GAAP”), including adjusted EBITDA. The non-GAAP financial measures are provided as supplemental information to Carlsmed’s financial measures presented in this press release that are calculated and presented in accordance with GAAP. The Company calculates adjusted EBITDA as net income (loss), as adjusted to exclude, as applicable, (i) net interest income (expense), (ii) income tax expense (benefit), (iii) depreciation expense from property and equipment (iv) amortization expense from long-lived assets, (iv) stock-based compensation expense and (v) change in fair value of warrant liabilities. This non-GAAP measure is presented because management believes it allows investors to view the Company’s performance in a manner similar to the method used by management to evaluate financial performance for both strategic and annual operating planning. Management believes that to properly understand short-term and long-term financial trends, it is helpful for investors to understand the impact of the items excluded from the calculation of adjusted EBITDA, in addition to considering the Company’s GAAP financial measures. The excluded items vary in frequency and/or impact on our results of operations and management believes that the excluded items are not reflective of the Company’s ongoing core business operations and financial condition. Excluding such items allows investors and analysts to compare our operating performance to other companies in our industry and to compare the Company’s period-over-period results. The non-GAAP financial measures used by Carlsmed may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for Carlsmed’s financial results prepared and reported in accordance with GAAP. This non-GAAP measure should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items. We urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures included in this press release, and not to rely on any single financial measure to evaluate our business. A reconciliation of adjusted EBITDA reported in this press release to the most comparable GAAP measure for the respective periods appears in the table captioned “Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA” later in this release. Within the accompanying financial tables presented, certain columns and rows may not add due to the use of rounded numbers. About Carlsmed Carlsmed is a 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. Forward Looking Statements Any statements in this press release about future expectations, plans and prospects, including statements about Carlsmed’s growth prospects and future performance, the ability of Carlsmed to achieve profitability in the near term or at all, the scalability of Carlsmed’s business, the level of demand for Carlsmed’s products, the impact of the recent CMS ruling on Carlsmed’s business , the revenue ranges presented in our 2026 Financial Outlook, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “likely,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including such important factors as are set forth under the caption “Risk Factors” in the Carlsmed’s Annual Report on Form 10-K on file with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent Carlsmed’s views as of the date of this press release. Carlsmed anticipates that subsequent events and developments will cause its views to change. However, while Carlsmed may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Carlsmed’s views as of any date subsequent to the date of this press release. Investor Relations [email protected] Media [email protected] **Change not meaningful

Wall Street expects a year-over-year decline in earnings on lower revenues when 10x Genomics (TXG) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 6. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This life science technology company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -182.1%. Revenues are expected to be $146.96 million, down 15% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.73% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For 10x Genomics, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +10.93%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination indicates that 10x Genomics will most likely beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that 10x Genomics would post a loss of$0.29 per share when it actually produced a loss of -$0.10, delivering a surprise of +65.52%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. 10x Genomics appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Carlsmed, Inc. (CARL), another stock in the Zacks Medical Info Systems industry, is expected to report loss per share of $0.4 for the quarter ended June 2026. This estimate points to a year-over-year change of +72.8%. Revenues for the quarter are expected to be $18.52 million, up 53.3% from the year-ago quarter. The consensus EPS estimate for Carlsmed, Inc. has remained unchanged over the last 30 days. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -18.99%. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Carlsmed, Inc. will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 10x Genomics (TXG) : Free Stock Analysis Report Carlsmed, Inc. (CARL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The market expects Carlsmed, Inc. (CARL) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 5. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This company is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of +72.8%. Revenues are expected to be $18.52 million, up 53.3% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Carlsmed, Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -18.99%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Carlsmed, Inc. will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Carlsmed, Inc. would post a loss of$0.43 per share when it actually produced a loss of -$0.32, delivering a surprise of +25.58%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Carlsmed, Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Hinge Health Inc. (HNGE), another stock in the Zacks Medical Info Systems industry, is expected to report earnings per share of $0.59 for the quarter ended June 2026. This estimate points to a year-over-year change of -11.9%. Revenues for the quarter are expected to be $200.51 million, up 44.2% from the year-ago quarter. The consensus EPS estimate for Hinge Health Inc. has been revised 4.4% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -4.78%. This Earnings ESP, combined with its Zacks Rank #1 (Strong Buy), makes it difficult to conclusively predict that Hinge Health Inc. will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carlsmed, Inc. (CARL) : Free Stock Analysis Report Hinge Health Inc. (HNGE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

As you might know, Carlsmed, Inc. (NASDAQ:CARL) just kicked off its latest quarterly results with some very strong numbers. Revenues beat expectations coming in atUS$16m, ahead of estimates by 7.8%. Statutory losses were somewhat smaller thanthe analysts expected, coming in at US$0.32 per share. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Taking into account the latest results, the consensus forecast from Carlsmed's five analysts is for revenues of US$74.5m in 2026. This reflects a huge 32% improvement in revenue compared to the last 12 months. Losses are expected to increase substantially, hitting US$1.49 per share. Before this latest report, the consensus had been expecting revenues of US$72.8m and US$1.58 per share in losses. So there seems to have been a moderate uplift in analyst sentiment with the latest consensus release, given the upgrades to both revenue and loss per share forecasts for this year. Check out our latest analysis for Carlsmed Despite these upgrades,the analysts have not made any major changes to their price target of US$18.40, implying that their latest estimates don't have a long term impact on what they think the stock is worth. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Carlsmed, with the most bullish analyst valuing it at US$23.00 and the most bearish at US$16.00 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view. Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Carlsmed's revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 45% growth on an annualised basis. This is compared to a historical growth rate of 75% over the past year. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 8.0% annually. Even after the forecast slowdown in growth, it seems obvious that Carlsmed is also expected to grow faster than the wider industry. The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Carlsmed analysts - going out to 2028, and you can see them free on our platform here. It is also worth noting that we have found 1 warning sign for Carlsmed that you need to take into consideration. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Revenue and outlook: Q1 revenue was $16.1 million, up 58% year‑over‑year, and management raised full‑year 2026 guidance to $72–$77 million (about 48% growth at the midpoint); gross margin was ~77% while GAAP net loss widened to $8.7 million, with $97.1 million in cash and $15.6 million drawn on a $50 million facility. Commercial momentum and operating efficiency: Surgeon users grew >60% YoY and utilization is accelerating, while production lead time fell >30% to six business days, driving more than 200 basis points of margin expansion; aprevo cervical is in its first full commercial quarter and cervical is expected to contribute a high single‑digit to low double‑digit share of revenue in 2026. Clinical and reimbursement developments: Peer‑reviewed data reported a 74% reduction in two‑year revision rates for aprevo versus historical stock implants (mechanical complication revisions 4.3% vs 16.6%), and CMS proposals would map aprevo lumbar to three new MS‑DRG codes potentially at a premium while aprevo cervical retains a NTAP of up to $21,125 (renewed preliminarily for FY2027). Interested in Carlsmed, Inc.? Here are five stocks we like better. Carlsmed (NASDAQ:CARL) reported first-quarter 2026 revenue of $16.1 million, up 58% from $10.2 million in the prior-year period, as the company highlighted continued surgeon adoption of its patient-specific “aprevo” spine fusion procedures and ongoing efficiency gains in its digital production system. Chairman and CEO Mike Cordonnier said the company saw “strong adoption” across its lumbar and cervical personalized surgery offerings in the quarter and believes the aprevo platform is positioned to “transform spine surgery.” Cordonnier attributed growth to medical education efforts, clinical outcomes data, and expansion in the company’s surgeon base. → Roblox Stock Slides to New Low as Safety Changes Weigh on Outlook Operationally, Cordonnier said Carlsmed reduced production lead time “by more than 30% to six business days” and delivered “more than 200 basis points of margin expansion year-over-year.” He also said the company’s surgeon user base grew more than 60% year-over-year, with notable engagement from early-career and post-fellowship surgeons. In response to a question on utilization trends, Cordonnier said surgeon enthusiasm continued to “accelerate into the year” following strong new surgeon additions exiting 2025. He added that utilization has increased, particularly among surgeons who have moved beyond the initial trial phase and into broader adoption. → The Real SpaceX Play: 5 Chip Stocks Powering the IPO Before It Launches Cordonnier pointed to peer-reviewed data published in January in Global Spine Journal that he said demonstrated a 74% reduction in surgery revision rates at two years for complex adult spinal deformity patients receiving Carlsmed’s aprevo personalized interbody implants compared with previously published revision data for a similar cohort using conventional stock implants. According to Cordonnier, the revision rate due to mechanical complications was 4.3% for aprevo-treated patients versus 16.6% for patients with stock devices. He said the reductions were driven by decreases in complications such as rod fractures and proximal junctional kyphosis. → 3 Emerging Markets ETFs to Maximize Exposure to High-Potential Countries Carlsmed also discussed pipeline progress. Cordonnier said the company completed the first aprevo bilateral lumbar fusion procedure in February and is conducting a limited market evaluation, with a full commercial launch targeted for the fourth quarter of 2026. On the cervical side, Cordonnier said the first quarter marked Carlsmed’s first full quarter commercially in the market for aprevo cervical fusion, which launched in December 2025. He said the company has trained more than 20% of its surgeon users on the cervical platform. In Q&A, Cordonnier said the cervical business is tracking with expectations for a “high single digit, low double digit percent contribution of revenue” for the year. The company also announced its CORRA cervical plating system, which Cordonnier described as the debut of Carlsmed’s patient-specific fixation portfolio for anterior cervical discectomy and fusion procedures. He said the first procedure using CORRA was performed in February 2026 at the University of California, San Francisco, and the company remains on track for a Q4 launch following a limited market evaluation. Cordonnier highlighted reimbursement developments for both lumbar and cervical procedures. He said the aprevo lumbar platform is currently covered under 11 different MS-DRG codes, and “the majority” of procedures are reassigned to the three elevated major complication or comorbidity MS-DRG codes. He also discussed the Centers for Medicare & Medicaid Services’ FY 2027 proposed inpatient prospective payment system rule published April 10. Under the proposal, Cordonnier said all aprevo lumbar spine fusion procedures would map to one of three new MS-DRG codes—523, 524, or 525—“at a premium to traditional spine fusion procedures,” if finalized as proposed. He noted the rule is preliminary and said the final rule is expected ahead of an effective date of Oct. 1, 2026. In Q&A, Cordonnier described the benefit primarily as improved access and simplified coding rather than new coverage. “We have full coverage today,” he said, adding that the proposal could remove ambiguity for hospitals and allow them to code procedures “as they normally would” with more certainty around MS-DRG mapping. For cervical procedures, Cordonnier said CMS granted a new technology add-on payment in October 2025 of up to $21,125 in incremental hospital reimbursement for aprevo cervical for a three-year period. He added that CMS renewed the payment for FY 2027 in the preliminary rule. Chief Financial Officer Leo Greenstein said first-quarter revenue growth was driven by expansion in surgeon users and increased unit volume, with average revenue per procedure “substantially consistent” year-over-year. Gross margin was 77.1%, up from 74.9% in Q1 2025, which Greenstein attributed to stable average revenue per procedure and efficiency improvements in the digital production system. Operating expenses rose to $21.7 million from $13.4 million a year earlier. Greenstein broke out the increases across functions: R&D increased to $5.2 million from $3.2 million, primarily from higher personnel costs tied to product development priorities and AI-enabled initiatives for digital surgical planning. Sales and marketing increased to $10.3 million from $6.7 million, driven by increased sales headcount, higher variable commissions with revenue growth, and increased marketing spending. General and administrative increased to $6.2 million from $3.5 million, reflecting personnel additions and higher professional services and legal fees, including compliance and public company-related costs. Carlsmed reported a GAAP net loss of $8.7 million, compared with a $5.7 million net loss in the prior-year quarter. Adjusted EBITDA, excluding stock-based compensation, was negative $7.5 million versus negative $5.5 million in Q1 2025. Greenstein said the company anticipates improvement in adjusted EBITDA “over the coming years” as revenue grows and operating leverage improves. Greenstein said cash and investments totaled $97.1 million as of March 31, 2026. The company had $15.6 million outstanding under a $50 million debt facility that matures in October 2030, and Greenstein said there are “no current plans” to make additional draws, though he described the facility as low-cost, non-dilutive standby capital. Total liabilities were $26.5 million, including the debt balance. Cash used in operating activities was $13.0 million in the quarter, compared with $8.2 million in the first quarter of 2025. For full-year 2026, Greenstein said Carlsmed is raising its revenue guidance to $72 million to $77 million, which he said represents 48% growth at the midpoint over full-year 2025. He reiterated expectations for gross margins in the mid-to-high 70s and said the company anticipates operating expense leverage in coming quarters with an expected revenue ramp in aprevo lumbar and aprevo cervical. On product mix and pricing, Greenstein told analysts the average revenue per procedure was consistent year-over-year, but he expects average revenue per procedure to be in the “mid to high 20s” over time as cervical becomes a larger portion of revenue, noting cervical carries lower average revenue per procedure than lumbar. He also said the company expects gross margins to remain in the mid-to-high 70s even as cervical grows to a high single-digit to low double-digit mix, with lower cervical gross margin headwinds offset by production efficiencies in lumbar. We are 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. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient's unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”). The article "Carlsmed Q1 Earnings Call Highlights" was originally published by MarketBeat.