CARLSMED, INC.
For the period ended Jun 30, 2025. Filed Aug 28, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 28, 2025
CARL$14.52-5.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED BALANCE SHEETS
(in thousands, except for share and par value amounts)
(unaudited)
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $33,472 | $40,125 |
| Restricted cash | 100 | 100 |
| Accounts receivable, net of allowances of $1,576 and $1,239, as of June 30, 2025 and December 31, 2024, respectively | 9,711 | 6,766 |
| Inventory | 1,068 | 995 |
| Prepaid expenses and other current assets | 1,841 | 1,365 |
| Total current assets | 46,192 | 49,351 |
| Property and equipment, net | 972 | 260 |
| Operating lease right-of-use assets | 2,144 | 1,644 |
| Other assets | 3,962 | 569 |
| Total assets | $53,270 | $51,824 |
| Liabilities, Convertible Preferred Stock, and Stockholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable | $2,581 | $2,412 |
| Accrued liabilities | 3,219 | 2,687 |
| Accrued compensation | 3,113 | 3,270 |
| Short-term operating lease liabilities | 571 | 449 |
| Total current liabilities | 9,484 | 8,818 |
| Long-term portion of term loan, net | 15,431 | 15,414 |
| Long-term operating lease liabilities | 1,705 | 1,317 |
| Warrant liabilities | 727 | 457 |
| Other long-term liabilities | 267 | 222 |
| Total liabilities | 27,614 | 26,228 |
| Commitments and contingencies (Note 9) | ||
| Series A convertible preferred stock, $0.00001 par value; 4,902,814 shares authorized, issued, and outstanding, and $13,767 liquidation preference as of June 30, 2025 and December 31, 2024 | 13,578 | 13,578 |
| Series B convertible preferred stock, $0.00001 par value; 4,393,481 shares authorized, 4,335,051 shares issued and outstanding, and $30,000 liquidation preference as of June 30, 2025 and December 31, 2024 | 29,801 | 29,801 |
| Series C convertible preferred stock, $0.00001 par value; 6,028,243 and 4,910,500 shares authorized, 6,007,866 and 4,890,123 shares issued and outstanding, and $64,500 and $52,500 liquidation preference as of June 30, 2025 and December 31, 2024, respectively | 65,350 | 52,847 |
| Stockholders’ deficit: | ||
| Common stock, $0.00001 par value; 23,679,694 and 21,835,801 shares authorized, 4,681,414 and 4,234,798 shares issued, and 4,603,756 and 4,139,219 shares outstanding as of June 30, 2025 and December 31, 2024, respectively | — | — |
| Additional paid-in capital | 593 | 541 |
| Accumulated deficit | (83,666) | (71,171) |
| Total stockholders’ deficit | (83,073) | (70,630) |
| Total liabilities, convertible preferred stock, and stockholders’ deficit | $53,270 | $51,824 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.