<span item_type="fundamental" item_id="375177127ed899956698e9c6dee71ce1" counter_id="ST/US/CARL" env="prod"></span><span item_type="announcement" item_id="604058579373003777" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 50.5 M.</p><p></p><h3>Revenue</h3><ul><li>Fourth quarter 2025 revenue was approximately $15.2 million, representing an approximate 61% increase compared to the fourth quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1794546/000119312526009828/carl-ex99_1.htm"></span></li><li>Full year 2025 revenue was approximately $50.5 million, representing an approximate 86% increase compared to the full year 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1794546/000119312526009828/carl-ex99_1.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>Carlsmed anticipates growing recognition and adoption of its aprevo® platform technology in 2026, which is expected to transform surgical standards and patient outcomes in spine fusion.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1794546/000119312526009828/carl-ex99_1.htm"></span></li><li>The company is focused on executing its strategy for the next phase of growth with operational excellence and is encouraged by the early feedback for its newly launched aprevo® cervical solution.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1794546/000119312526009828/carl-ex99_1.htm"></span></li><li>The preliminary unaudited revenue results are estimates and subject to revision until the full financial results for 2025 are reported in the Annual Report on Form 10-K.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1794546/000119312526009828/carl-ex99_1.htm"></span></li></ul>

Carlsmed | 8-K: FY2025 Revenue: USD 50.5 M