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43 /100
MEDIUM RISK
Score updated Oct 13, 2026

CARL — Carlsmed, Inc. Dilution Risk Tracker

Track CARL dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of October 13, 2026, Carlsmed, Inc. (CARL) has a DilutionWatch DilutionScore of 43/100, rated MEDIUM dilution risk. Carlsmed, Inc. has a market capitalization of $403.53M, 27.30M shares outstanding, 66 institutional holders tracked.

This page includes automatically generated factual summaries from DilutionWatch data. It is not financial advice, not investment research, and not a recommendation. Do your own research. Read the full disclaimer and terms of service.

Score Breakdown

📋 Offering Ability
40
💰 Cash Runway
25
📊 Float Risk
70
⚠️ Warrant Exposure
40
🔄 Convertible Debt
40

Dilution Forecast

☀️
Clear
No significant dilution signals
model est. 0%
No significant dilution signals detected for CARL.
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Market Data

Market Cap$403.53M
Shares Outstanding27.30M
Float9.91M
Cash$70.24M
Debt$15.38M
Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

FieldCurrent ValueBasis
DilutionScore43/100DilutionWatch score record
Shares Outstanding27.30MVerified float table or market cache
Public Float9.91MVerified float table or market cache
Market Cap$403.53MMarket data cache
Cash Runway20.7 monthsDilutionWatch score inputs
Shelf CapacityNone in current score inputsSEC-derived dilution fields
ATM CapacityNone in current score inputsSEC-derived dilution fields
Outstanding WarrantsNone in current score inputsSEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 7.

Recent SEC source mix: 4 5, XBRL 2.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

QoQ: ↑ 46.1% shares (2026Q1 vs prior)
66 institutional holders · 6.85M shares
#1 JANUS HENDERSON GROUP PLC 2.45M shares
#2 ORBIMED ADVISORS LLC 1.25M shares
#3 VANGUARD CAPITAL MANAGEMENT LLC 552.3K shares
+ 17 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest1.05M
Days to Cover14.3
% of Float10.6%
FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2026-02-25
xbrl XBRL CONVERTIBLE 2026-02-25
4 INSIDER TRANSACTION 2026-03-04
4 INSIDER TRANSACTION 2026-01-30
4 INSIDER TRANSACTION 2026-01-30
Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual CARL Dilution Snapshot

Carlsmed, Inc. (CARL) has a DilutionScore of 43/100, rated Medium dilution risk. Score date: October 13, 2026.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

CARL's DilutionScore is currently 43/100 (Medium risk), with 2 score changes tracked over 89 days. The score improved from 39/100 (Medium risk).

Period Score Risk Level Duration
Oct 13, 202643/100MEDIUM1 day
Aug 22 – Oct 12, 202639/100MEDIUM52 days
Jul 16 – Aug 21, 202632/100MEDIUM36 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

CARL shares outstanding have increased 2.2% from 26.59M (Mar 2026) to 27.18M (May 2026). Each increase represents potential dilution to existing shareholders.

Date Shares Outstanding Public Float Change
May 10, 202627.18M9.91M▼ 0.30%
May 07, 202627.18M9.94M▲ 1.69%
Apr 26, 202627.23M9.77M▲ 3.36%
Mar 19, 202626.73M9.46M▼ 2.01%
Mar 05, 202626.59M9.65M▲ 0.99%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

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