SI-BONE, Inc. (SIBN) Q2 2025 Earnings Call Transcript
Worldwide Revenue $48.6 million in Q2 2025, representing growth of 21.7% year-over-year. Growth driven by strong U.S. momentum and international expansion.
U.S. Revenue $46.4 million in Q2 2025, representing 22.8% growth year-over-year. Growth supported by a 25% increase in procedure volumes and double-digit growth across all modalities.
International Revenue $2.2 million in Q2 2025. Growth impacted by later-than-expected regulatory clearance for TORQ in Europe. Expected to boost revenue growth in Europe in 2026.
Gross Profit $38.8 million in Q2 2025, an increase of $7.2 million or 22.9% year-over-year. Gross margin expanded by 80 basis points to 79.8%, driven by improved manufacturing and supply chain efficiencies.
Operating Expenses $45.8 million in Q2 2025, an increase of $4.2 million or 10% year-over-year. Increase due to growth-related investments, higher commissions, and elevated G&A spending.
Net Loss $6.2 million in Q2 2025, narrowed from $8.9 million in the prior year. Improvement attributed to revenue growth and operational efficiencies.
Adjusted EBITDA Positive $1 million in Q2 2025, compared to a loss of $2.7 million in the prior year. Third consecutive quarter of positive adjusted EBITDA.
Cash and Marketable Securities $145.5 million at the end of Q2 2025, up from $144.4 million in the previous quarter. Achieved cash flow breakeven for the first time.
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SI-BONE Announces Preliminary Q4 and Full-Year 2025 Revenue Growth
- Quarterly Performance Forecast: SI-BONE anticipates fourth-quarter revenue for FY 2025 to be between $56.2 million and $56.3 million, representing a 15% increase from $49 million last year, indicating strong market demand in the musculoskeletal sector.
- Full-Year Revenue Growth: The company expects total revenue for FY 2025 to range between $200.8 million and $200.9 million, up 20% from $167.18 million in the previous year, reflecting the sustained popularity of its products in both U.S. and international markets.
- U.S. Market Performance: Preliminary U.S. revenue for the fourth quarter is projected to be between $53.3 million and $53.4 million, a 14% increase from $46.9 million a year ago, demonstrating the effectiveness of the company's sales strategy in the U.S. market.
- Cash Flow Position: As of the fourth quarter, SI-BONE reported cash and equivalents of approximately $147.7 million, ensuring financial flexibility for future investments and operations.
SI-Bone Executives Sell Shares for Tax Obligations as Stock Rises 3.65%
- Stock Performance: SI-Bone Inc. shares rose 3.65% to $21.14 in after-hours trading on Tuesday, reflecting strong market confidence, particularly with a 12-month return of 44.48% indicating robust growth.
- Executive Share Sales: CFO Anshul Maheshwari sold 5,229 shares for a total of $102,710.61, demonstrating proactive tax planning by executives while also reflecting their confidence in the company's stock performance.
- Market Capitalization: With a market cap of approximately $885.2 million, SI-Bone's stock is trading at 92.2% of its 52-week high, indicating strong market demand and a solid position in the medical device sector.
- Analyst Ratings: Firms like Truist Securities and Morgan Stanley maintained bullish ratings and raised price targets in December, further bolstering investor confidence and suggesting potential for future growth.
SI-Bone Included in 'Conviction List' and Designated as '2026 Top Pick' by Needham
Price Target Increase: Needham analyst David Saxon raised the price target for SI-Bone (SIBN) from $24 to $27 and maintained a Buy rating on the shares.
Conviction List Addition: The stock has been added to Needham's 'Conviction List' and named as the firm's '2026 Top Pick', replacing Alcon (ALC).
Growth Potential: Needham believes SI-Bone can exceed near-term estimates, leading to increased profitability, particularly with upcoming product launches.
Surgeon Adoption: The firm anticipates that these product launches will enhance active surgeon adoption across SI-Bone's portfolio, driving higher utilization.
Accenture Set to Surge Over 16%? Check Out 10 Leading Analyst Predictions for Tuesday
Analyst Upgrades: Morgan Stanley upgraded Accenture Plc from Equal-Weight to Overweight, raising its price target from $271 to $320, while Cantor Fitzgerald upgraded Microchip Technology Inc from Neutral to Overweight with a target increase from $65 to $85.
Price Target Increases: Wedbush raised Tyra Biosciences Inc's target from $30 to $37, and Chardan Capital increased Palvella Therapeutics Inc's target from $110 to $174, both maintaining positive ratings.
Mixed Ratings: Baird cut Dentsply Sirona Inc's price target from $14 to $12 while maintaining a Neutral rating, contrasting with their upgrade of Tandem Diabetes Care Inc from Neutral to Outperform with a target increase from $18 to $30.
Other Notable Changes: Goldman Sachs upgraded Rockwell Automation Inc from Sell to Neutral, raising its target from $329 to $448, while Needham increased SI-Bone Inc's target from $24 to $27, maintaining a Buy rating.
SI-BONE Scheduled to Present at Piper Sandler Annual Healthcare Conference Next Month
Company Presentation: SI-BONE, Inc. will present at the Piper Sandler 37th Annual Healthcare Conference on December 2, 2025, and recently reported a narrowed net loss of $4.6 million for Q3 2025.
Financial Performance: Total revenue for Q3 2025 increased by 19% to $48.7 million, with U.S. revenue rising 18% to $45.4 million, driven by strong demand for their products.
Product Highlights: The iFuse Bedrock Granite and TORQ TNT continue to be the main revenue-generating products for SI-BONE, contributing to the company's growth.
Future Outlook: SI-BONE anticipates fiscal year 2025 revenue between $190 million and $192 million, reflecting a positive growth trajectory compared to $167.2 million in fiscal year 2024.
SI-BONE Inc. Reports Reduced Losses in Q3
Financial Performance: SI-BONE Inc. reported a loss of -$4.57 million for the third quarter, an improvement from -$6.58 million in the same period last year.
Earnings Per Share: The company's earnings per share (EPS) were -$0.11, compared to -$0.16 in the previous year.
Revenue Growth: Revenue increased by 20.6% to $48.66 million, up from $40.34 million year-over-year.
Future Guidance: SI-BONE Inc. provided full-year revenue guidance of $198 to $200 million.
SI-BONE Announces Preliminary Q4 and Full-Year 2025 Revenue Growth
- Quarterly Performance Forecast: SI-BONE anticipates fourth-quarter revenue for FY 2025 to be between $56.2 million and $56.3 million, representing a 15% increase from $49 million last year, indicating strong market demand in the musculoskeletal sector.
- Full-Year Revenue Growth: The company expects total revenue for FY 2025 to range between $200.8 million and $200.9 million, up 20% from $167.18 million in the previous year, reflecting the sustained popularity of its products in both U.S. and international markets.
- U.S. Market Performance: Preliminary U.S. revenue for the fourth quarter is projected to be between $53.3 million and $53.4 million, a 14% increase from $46.9 million a year ago, demonstrating the effectiveness of the company's sales strategy in the U.S. market.
- Cash Flow Position: As of the fourth quarter, SI-BONE reported cash and equivalents of approximately $147.7 million, ensuring financial flexibility for future investments and operations.
SI-Bone Executives Sell Shares for Tax Obligations as Stock Rises 3.65%
- Stock Performance: SI-Bone Inc. shares rose 3.65% to $21.14 in after-hours trading on Tuesday, reflecting strong market confidence, particularly with a 12-month return of 44.48% indicating robust growth.
- Executive Share Sales: CFO Anshul Maheshwari sold 5,229 shares for a total of $102,710.61, demonstrating proactive tax planning by executives while also reflecting their confidence in the company's stock performance.
- Market Capitalization: With a market cap of approximately $885.2 million, SI-Bone's stock is trading at 92.2% of its 52-week high, indicating strong market demand and a solid position in the medical device sector.
- Analyst Ratings: Firms like Truist Securities and Morgan Stanley maintained bullish ratings and raised price targets in December, further bolstering investor confidence and suggesting potential for future growth.
SI-Bone Included in 'Conviction List' and Designated as '2026 Top Pick' by Needham
Price Target Increase: Needham analyst David Saxon raised the price target for SI-Bone (SIBN) from $24 to $27 and maintained a Buy rating on the shares.
Conviction List Addition: The stock has been added to Needham's 'Conviction List' and named as the firm's '2026 Top Pick', replacing Alcon (ALC).
Growth Potential: Needham believes SI-Bone can exceed near-term estimates, leading to increased profitability, particularly with upcoming product launches.
Surgeon Adoption: The firm anticipates that these product launches will enhance active surgeon adoption across SI-Bone's portfolio, driving higher utilization.
Accenture Set to Surge Over 16%? Check Out 10 Leading Analyst Predictions for Tuesday
Analyst Upgrades: Morgan Stanley upgraded Accenture Plc from Equal-Weight to Overweight, raising its price target from $271 to $320, while Cantor Fitzgerald upgraded Microchip Technology Inc from Neutral to Overweight with a target increase from $65 to $85.
Price Target Increases: Wedbush raised Tyra Biosciences Inc's target from $30 to $37, and Chardan Capital increased Palvella Therapeutics Inc's target from $110 to $174, both maintaining positive ratings.
Mixed Ratings: Baird cut Dentsply Sirona Inc's price target from $14 to $12 while maintaining a Neutral rating, contrasting with their upgrade of Tandem Diabetes Care Inc from Neutral to Outperform with a target increase from $18 to $30.
Other Notable Changes: Goldman Sachs upgraded Rockwell Automation Inc from Sell to Neutral, raising its target from $329 to $448, while Needham increased SI-Bone Inc's target from $24 to $27, maintaining a Buy rating.
SI-BONE Scheduled to Present at Piper Sandler Annual Healthcare Conference Next Month
Company Presentation: SI-BONE, Inc. will present at the Piper Sandler 37th Annual Healthcare Conference on December 2, 2025, and recently reported a narrowed net loss of $4.6 million for Q3 2025.
Financial Performance: Total revenue for Q3 2025 increased by 19% to $48.7 million, with U.S. revenue rising 18% to $45.4 million, driven by strong demand for their products.
Product Highlights: The iFuse Bedrock Granite and TORQ TNT continue to be the main revenue-generating products for SI-BONE, contributing to the company's growth.
Future Outlook: SI-BONE anticipates fiscal year 2025 revenue between $190 million and $192 million, reflecting a positive growth trajectory compared to $167.2 million in fiscal year 2024.
SI-BONE Inc. Reports Reduced Losses in Q3
Financial Performance: SI-BONE Inc. reported a loss of -$4.57 million for the third quarter, an improvement from -$6.58 million in the same period last year.
Earnings Per Share: The company's earnings per share (EPS) were -$0.11, compared to -$0.16 in the previous year.
Revenue Growth: Revenue increased by 20.6% to $48.66 million, up from $40.34 million year-over-year.
Future Guidance: SI-BONE Inc. provided full-year revenue guidance of $198 to $200 million.
