Is CARLSMED, INC. (CARL) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 5.4% / 30% | 34.2% / 30% | 3.5% / 30% | 5.34% / 5% | ✗ NOT HALAL |
| DJIM | 5.4% / 33% | 34.2% / 33% | 3.5% / 33% | 5.34% / 5% | ✗ NOT HALAL |
| MSCI | 13.4% / 33% | 84.4% / 33% | 8.7% / 33% | 5.34% / 5% | ✗ NOT HALAL |
| S&P | 5.4% / 33% | 34.2% / 33% | 3.5% / 33% | 5.34% / 5% | ✗ NOT HALAL |
| FTSE | 13.4% / 33% | 84.4% / 33% | 8.7% / 50% | 5.34% / 5% | ✗ NOT HALAL |
Financial Highlights
Profitability
| Gross Margin | 75.3% | |
| Operating Margin | -61.4% | |
| Net Margin | -58.7% | |
| Return on Equity (ROE) | -47.6% | |
| Return on Assets (ROA) | -21.0% |
Cash Flow & Balance Sheet
| Operating Cash Flow | -$29M |
| Free Cash Flow | -$30M |
| Total Debt | $17M |
| Debt-to-Equity | 17.6 |
| Current Ratio | 8.9 |
| Total Assets | $130M |
Price & Trading
| Last Close | $9.86 |
| 50-Day MA | $12.06 |
| 200-Day MA | $13.03 |
| Avg Volume | 124K |
|
52-Week Range
$9.55
| |
About CARLSMED, INC. (CARL)
Carlsmed, Inc., a commercial-stage medical technology company, designs, manufactures, and markets AI-enabled personalized spine surgery solutions. The company develops aprevo, a comprehensive technology platform for spine fusion surgery procedures. Its aprevo platform includes proprietary surgical planning software, using outcomes-based algorithms that are aided with artificial intelligence, and resulting custom-built, anatomically designed vertebral interbody implants. The company was incorporated in 2018 and is based in Carlsbad, California.
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Frequently Asked Questions
Is CARLSMED, INC. (CARL) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), CARLSMED, INC. is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is CARLSMED, INC.'s debt ratio?
CARLSMED, INC.'s debt ratio is 5.4% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 13.4%.
What are CARLSMED, INC.'s key financial metrics?
CARLSMED, INC. has a market capitalization of $258M, and revenue of $51M. The company maintains a gross margin of 75.3% and a net margin of -58.7%. Return on equity stands at -47.6%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.