Carlsmed Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	115.37	40.13	7.22
Cash & Short-Term Investments	115.37	40.13	7.22
Cash Growth	1497.52%	455.59%	-
Receivables	11.3	6.77	3.17
Inventory	1.34	1	0.58
Prepaid Expenses	3.36	1.37	0.65
Restricted Cash	0.1	0.1	0.15
Total Current Assets	131.47	49.35	11.77
Property, Plant & Equipment	3.17	1.9	2.24
Long-Term Deferred Charges	-	0.4	-
Other Long-Term Assets	0.23	0.17	0.02
Total Assets	134.86	51.82	14.02
Accounts Payable	2.67	2.41	1.69
Accrued Expenses	7.6	5.96	3.6
Current Portion of Long-Term Debt	-	-	1.84
Current Portion of Leases	0.66	0.45	0.31
Total Current Liabilities	10.93	8.82	7.44
Long-Term Debt	15.44	15.41	7.47
Long-Term Leases	1.51	1.32	1.77
Other Long-Term Liabilities	0.32	0.68	0.1
Total Liabilities	28.2	26.23	16.78
Additional Paid-In Capital	198.85	0.54	0.78
Retained Earnings	-92.19	-71.17	-46.91
Total Common Equity	106.66	-70.63	-46.13
Shareholders' Equity	106.66	25.6	-2.75
Total Liabilities & Equity	134.86	51.82	14.02
Total Debt	17.61	17.18	11.39
Net Cash (Debt)	97.76	22.95	-4.17
Net Cash Per Share	11.41	5.64	-1.07
Filing Date Shares Outstanding	26.59	4.23	3.89
Total Common Shares Outstanding	26.58	4.23	3.89
Working Capital	120.54	40.53	4.33
Book Value Per Share	4.01	-16.68	-11.87
Tangible Book Value	106.66	-70.63	-46.13
Tangible Book Value Per Share	4.01	-16.68	-11.87
Machinery	0.72	0.58	0.4
Leasehold Improvements	0.34	0.08	0.08

Source: S&P Capital IQ. Standard template. Financial Sources.