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Side-by-side financial comparison of CARLSMED, INC. (CARL) and FVCBankcorp, Inc. (FVCB). Click either name above to swap in a different company.
FVCBankcorp, Inc. is the larger business by last-quarter revenue ($16.9M vs $13.1M, roughly 1.3× CARLSMED, INC.). FVCBankcorp, Inc. produced more free cash flow last quarter ($23.8M vs $-8.6M).
FVCBankcorp, Inc. is a Virginia-based U.S. bank holding company operating FVCbank, a community-focused financial institution. It provides a full range of personal and commercial banking products including deposit accounts, business and personal loans, mortgage services, and wealth management solutions, serving SMEs, professionals and individual consumers across the Mid-Atlantic region.
CARL vs FVCB — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.1M | $16.9M |
| Net Profit | $-8.5M | — |
| Gross Margin | 75.9% | — |
| Operating Margin | -69.1% | 43.7% |
| Net Margin | -65.2% | — |
| Revenue YoY | — | 4377.5% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.40 | $0.31 |
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.
| Q4 25 | — | $16.9M | ||
| Q3 25 | $13.1M | $416.0K | ||
| Q2 25 | $12.1M | $15.8M | ||
| Q1 25 | — | $382.0K | ||
| Q4 24 | — | $378.0K | ||
| Q3 24 | — | $412.0K | ||
| Q2 24 | — | $415.0K | ||
| Q1 24 | — | $359.0K |
| Q4 25 | — | — | ||
| Q3 25 | $-8.5M | $5.6M | ||
| Q2 25 | $-6.8M | $5.7M | ||
| Q1 25 | — | $5.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | — | $4.2M | ||
| Q1 24 | — | $1.3M |
| Q4 25 | — | — | ||
| Q3 25 | 75.9% | — | ||
| Q2 25 | 73.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 43.7% | ||
| Q3 25 | -69.1% | — | ||
| Q2 25 | -53.8% | 45.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -65.2% | 1341.1% | ||
| Q2 25 | -56.0% | 36.0% | ||
| Q1 25 | — | 1352.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1133.3% | ||
| Q2 24 | — | 1001.2% | ||
| Q1 24 | — | 373.3% |
| Q4 25 | — | $0.31 | ||
| Q3 25 | $-0.40 | $0.31 | ||
| Q2 25 | $-1.47 | $0.31 | ||
| Q1 25 | — | $0.28 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | — | $0.25 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $115.4M | — |
| Total DebtLower is stronger | $15.4M | — |
| Stockholders' EquityBook value | $106.7M | $253.6M |
| Total Assets | $134.9M | $2.3B |
| Debt / EquityLower = less leverage | 0.14× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $115.4M | — | ||
| Q2 25 | $33.5M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | $15.4M | — | ||
| Q2 25 | $15.4M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $253.6M | ||
| Q3 25 | $106.7M | $249.8M | ||
| Q2 25 | $-83.1M | $243.2M | ||
| Q1 25 | — | $242.3M | ||
| Q4 24 | — | $235.4M | ||
| Q3 24 | — | $230.8M | ||
| Q2 24 | — | $226.5M | ||
| Q1 24 | — | $220.7M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $134.9M | $2.3B | ||
| Q2 25 | $53.3M | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | — | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-8.5M | $23.9M |
| Free Cash FlowOCF − Capex | $-8.6M | $23.8M |
| FCF MarginFCF / Revenue | -65.9% | 140.7% |
| Capex IntensityCapex / Revenue | 1.2% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.9M | ||
| Q3 25 | $-8.5M | $7.6M | ||
| Q2 25 | $-15.2M | $3.3M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $18.2M | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | — | $1.6M | ||
| Q1 24 | — | $7.2M |
| Q4 25 | — | $23.8M | ||
| Q3 25 | $-8.6M | $7.6M | ||
| Q2 25 | $-15.6M | $3.3M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $18.1M | ||
| Q3 24 | — | $4.6M | ||
| Q2 24 | — | $1.5M | ||
| Q1 24 | — | $7.1M |
| Q4 25 | — | 140.7% | ||
| Q3 25 | -65.9% | 1818.0% | ||
| Q2 25 | -129.2% | 20.8% | ||
| Q1 25 | — | 1413.6% | ||
| Q4 24 | — | 4786.0% | ||
| Q3 24 | — | 1121.8% | ||
| Q2 24 | — | 361.2% | ||
| Q1 24 | — | 1988.3% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | 1.2% | 0.2% | ||
| Q2 25 | 3.4% | 0.1% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | — | 14.1% | ||
| Q2 24 | — | 12.8% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 5.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
