vs
Side-by-side financial comparison of CARLSMED, INC. (CARL) and SOLESENCE, INC. (SLSN). Click either name above to swap in a different company.
CARLSMED, INC. is the larger business by last-quarter revenue ($16.1M vs $12.5M, roughly 1.3× SOLESENCE, INC.). SOLESENCE, INC. runs the higher net margin — 1.3% vs 0.3%, a 1.0% gap on every dollar of revenue. On growth, CARLSMED, INC. posted the faster year-over-year revenue change (58.2% vs -0.7%).
CARL vs SLSN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.1M | $12.5M |
| Net Profit | $51.8K | $163.0K |
| Gross Margin | 77.1% | 27.5% |
| Operating Margin | -34.7% | 1.5% |
| Net Margin | 0.3% | 1.3% |
| Revenue YoY | 58.2% | -0.7% |
| Net Profit YoY | — | 129.2% |
| EPS (diluted) | — | $0.00 |
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 | $12.5M | ||
| Q3 25 | $13.1M | $14.6M | ||
| Q2 25 | $12.1M | $20.4M | ||
| Q1 25 | — | $14.6M | ||
| Q4 24 | — | $12.6M | ||
| Q3 24 | — | $16.9M | ||
| Q2 24 | — | $13.0M |
| Q1 26 | $51.8K | — | ||
| Q4 25 | $82.5K | $163.0K | ||
| Q3 25 | $-8.5M | $-1.1M | ||
| Q2 25 | $-6.8M | $2.7M | ||
| Q1 25 | — | $80.0K | ||
| Q4 24 | — | $-559.0K | ||
| Q3 24 | — | $3.0M | ||
| Q2 24 | — | $856.0K |
| Q1 26 | 77.1% | — | ||
| Q4 25 | 76.5% | 27.5% | ||
| Q3 25 | 75.9% | 23.1% | ||
| Q2 25 | 73.4% | 28.9% | ||
| Q1 25 | — | 23.1% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 36.2% | ||
| Q2 24 | — | 28.7% |
| Q1 26 | -34.7% | — | ||
| Q4 25 | -38.0% | 1.5% | ||
| Q3 25 | -69.1% | -5.4% | ||
| Q2 25 | -53.8% | 9.4% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | -1.8% | ||
| Q3 24 | — | 19.0% | ||
| Q2 24 | — | 8.0% |
| Q1 26 | 0.3% | — | ||
| Q4 25 | 0.5% | 1.3% | ||
| Q3 25 | -65.2% | -7.7% | ||
| Q2 25 | -56.0% | 13.1% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 18.1% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.00 | ||
| Q3 25 | $-0.40 | $-0.02 | ||
| Q2 25 | $-1.47 | $0.04 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | — | $0.00 | ||
| Q3 24 | — | $0.04 | ||
| Q2 24 | — | $0.01 |
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 | $1.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $17.6M |
| Total Assets | $118.8M | $50.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $97.0M | — | ||
| Q4 25 | $109.8M | $1.3M | ||
| Q3 25 | $115.4M | $429.0K | ||
| Q2 25 | $33.5M | $4.1M | ||
| Q1 25 | — | $1.8M | ||
| Q4 24 | — | $1.4M | ||
| Q3 24 | — | $2.9M | ||
| Q2 24 | — | $2.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $15.4M | — | ||
| Q2 25 | $15.4M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $17.6M | ||
| Q3 25 | $106.7M | $17.2M | ||
| Q2 25 | $-83.1M | $18.2M | ||
| Q1 25 | — | $15.2M | ||
| Q4 24 | — | $14.9M | ||
| Q3 24 | — | $15.2M | ||
| Q2 24 | — | $11.9M |
| Q1 26 | $118.8M | — | ||
| Q4 25 | $130.1M | $50.1M | ||
| Q3 25 | $134.9M | $54.0M | ||
| Q2 25 | $53.3M | $60.0M | ||
| Q1 25 | — | $57.0M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | — | $48.0M | ||
| Q2 24 | — | $40.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $1.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 11.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8M | ||
| Q3 25 | $-8.5M | $-2.5M | ||
| Q2 25 | $-15.2M | $-654.0K | ||
| Q1 25 | — | $-7.2M | ||
| Q4 24 | — | $2.2M | ||
| Q3 24 | — | $4.2M | ||
| Q2 24 | — | $-565.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-8.6M | — | ||
| Q2 25 | $-15.6M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-404.0K | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | — | $-1.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -65.9% | — | ||
| Q2 25 | -129.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | — | 16.6% | ||
| Q2 24 | — | -8.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 20.6% | ||
| Q3 24 | — | 8.3% | ||
| Q2 24 | — | 3.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.25× | ||
| Q1 25 | — | -90.26× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | -0.66× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
