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Side-by-side financial comparison of CARLSMED, INC. (CARL) and First Bancorp, Inc (FNLC). Click either name above to swap in a different company.
First Bancorp, Inc is the larger business by last-quarter revenue ($25.8M vs $16.1M, roughly 1.6× CARLSMED, INC.). First Bancorp, Inc runs the higher net margin — 39.4% vs 0.3%, a 39.0% gap on every dollar of revenue. On growth, CARLSMED, INC. posted the faster year-over-year revenue change (58.2% vs 17.5%).
Patriot Bank, N.A. (PNBK) is the bank holding company for Stamford, Connecticut-based Patriot Bank NA, and is traded on NASDAQ as PNBK.
CARL vs FNLC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.1M | $25.8M |
| Net Profit | $51.8K | $10.2M |
| Gross Margin | 77.1% | — |
| Operating Margin | -34.7% | 48.1% |
| Net Margin | 0.3% | 39.4% |
| Revenue YoY | 58.2% | 17.5% |
| Net Profit YoY | — | 39.7% |
| EPS (diluted) | — | $0.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $16.1M | — | ||
| Q4 25 | $15.2M | $25.8M | ||
| Q3 25 | $13.1M | $24.5M | ||
| Q2 25 | $12.1M | $22.5M | ||
| Q1 25 | — | $21.8M | ||
| Q4 24 | — | $22.0M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.2M |
| Q1 26 | $51.8K | — | ||
| Q4 25 | $82.5K | $10.2M | ||
| Q3 25 | $-8.5M | $9.1M | ||
| Q2 25 | $-6.8M | $8.1M | ||
| Q1 25 | — | $7.1M | ||
| Q4 24 | — | $7.3M | ||
| Q3 24 | — | $7.6M | ||
| Q2 24 | — | $6.2M |
| Q1 26 | 77.1% | — | ||
| Q4 25 | 76.5% | — | ||
| Q3 25 | 75.9% | — | ||
| Q2 25 | 73.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | -34.7% | — | ||
| Q4 25 | -38.0% | 48.1% | ||
| Q3 25 | -69.1% | 45.2% | ||
| Q2 25 | -53.8% | 43.7% | ||
| Q1 25 | — | 39.3% | ||
| Q4 24 | — | 39.5% | ||
| Q3 24 | — | 44.6% | ||
| Q2 24 | — | 38.8% |
| Q1 26 | 0.3% | — | ||
| Q4 25 | 0.5% | 39.4% | ||
| Q3 25 | -65.2% | 37.0% | ||
| Q2 25 | -56.0% | 35.8% | ||
| Q1 25 | — | 32.5% | ||
| Q4 24 | — | 33.1% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | — | 32.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.91 | ||
| Q3 25 | $-0.40 | $0.81 | ||
| Q2 25 | $-1.47 | $0.72 | ||
| Q1 25 | — | $0.63 | ||
| Q4 24 | — | $0.66 | ||
| Q3 24 | — | $0.68 | ||
| Q2 24 | — | $0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $97.0M | — |
| Total DebtLower is stronger | — | $95.5M |
| Stockholders' EquityBook value | — | $283.1M |
| Total Assets | $118.8M | $3.2B |
| Debt / EquityLower = less leverage | — | 0.34× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $97.0M | — | ||
| Q4 25 | $109.8M | — | ||
| Q3 25 | $115.4M | — | ||
| Q2 25 | $33.5M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $95.5M | ||
| Q3 25 | $15.4M | $95.5M | ||
| Q2 25 | $15.4M | $95.0M | ||
| Q1 25 | — | $70.0M | ||
| Q4 24 | — | $95.0M | ||
| Q3 24 | — | $95.0M | ||
| Q2 24 | — | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $283.1M | ||
| Q3 25 | $106.7M | $274.6M | ||
| Q2 25 | $-83.1M | $265.5M | ||
| Q1 25 | — | $259.7M | ||
| Q4 24 | — | $252.5M | ||
| Q3 24 | — | $256.8M | ||
| Q2 24 | — | $244.7M |
| Q1 26 | $118.8M | — | ||
| Q4 25 | $130.1M | $3.2B | ||
| Q3 25 | $134.9M | $3.2B | ||
| Q2 25 | $53.3M | $3.2B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.34× | ||
| Q3 25 | 0.14× | 0.35× | ||
| Q2 25 | — | 0.36× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $37.8M |
| Free Cash FlowOCF − Capex | — | $34.6M |
| FCF MarginFCF / Revenue | — | 133.9% |
| Capex IntensityCapex / Revenue | — | 12.5% |
| Cash ConversionOCF / Net Profit | — | 3.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $55.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $37.8M | ||
| Q3 25 | $-8.5M | $12.9M | ||
| Q2 25 | $-15.2M | $7.4M | ||
| Q1 25 | — | $2.2M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | — | $9.8M | ||
| Q2 24 | — | $6.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $34.6M | ||
| Q3 25 | $-8.6M | $12.6M | ||
| Q2 25 | $-15.6M | $7.2M | ||
| Q1 25 | — | $828.0K | ||
| Q4 24 | — | $24.6M | ||
| Q3 24 | — | $9.6M | ||
| Q2 24 | — | $6.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 133.9% | ||
| Q3 25 | -65.9% | 51.4% | ||
| Q2 25 | -129.2% | 32.1% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 111.7% | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | 32.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.5% | ||
| Q3 25 | 1.2% | 1.2% | ||
| Q2 25 | 3.4% | 0.6% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.72× | ||
| Q3 25 | — | 1.42× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 3.58× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
