SIBNNasdaqSurgical & Medical Instruments & ApparatusUS GAAP · USD

SI-BONE, Inc.

SI-BONE, Inc. develops and commercializes implant systems and surgical instruments for sacropelvic conditions, with a core focus on minimally invasive treatment of sacroiliac joint dysfunction and degeneration. The company is based in the United States and sells through direct and partner sales channels in the U.S. and selected international markets, including Europe.

Kysy yhtiöstä
Liikevaihto201milj. USD
+20,2 %v/v
Liikevoitto (EBIT)−22,3milj. USD
+36,6 %v/v
EBIT-marginaali−11,1%
+10,0 %-yks.v/v
Nettotulos−18,9milj. USD
+38,8 %v/v
Vapaa kassavirta−9,1milj. USD
+60,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1000100200300milj. USD2020: 73 milj. USD2020: EBIT −39 milj. USD20202021: 90 milj. USD2021: EBIT −52 milj. USD20212022: 106 milj. USD2022: EBIT −60 milj. USD20222023: 139 milj. USD2023: EBIT −47 milj. USD20232024: 167 milj. USD2024: EBIT −35 milj. USD20242025: 201 milj. USD2025: EBIT −22 milj. USD2025201−22
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: SI-BONE, Inc.

Liiketoiminta

Osuus liikevaihdosta
Sacroiliac joint fusion systems55 %

Minimally invasive implants and instruments used to treat sacroiliac joint dysfunction and degeneration.

Thoracolumbar fixation and fusion20 %

Implant systems designed for adult spinal deformity and thoracolumbar stabilization procedures.

Pelvic trauma fixation15 %

Implants and tools used in pelvic fracture fixation and trauma-related procedures.

Implantable bone products and accessories10 %

Adjunct bone products, instruments, and procedure support items used with the implant portfolio.

Asiakkaat

SI-BONE sells primarily to surgeons and hospitals that perform minimally invasive sacropelvic and spine procedures. Its products are used by orthopedic surgeons, spine surgeons, and other physicians treating sacroiliac joint disease, adult spinal deformity, and pelvic trauma. Purchasing decisions are influenced by clinical evidence, ease of use, training support, reimbursement coverage, and procedure outcomes.

Orthopedic and spine surgeons

Buy implant systems and instruments for sacroiliac fusion, spinal fixation, and pelvic trauma procedures because they need clinically supported, anatomy-specific solutions.

Hospitals and surgical facilities

Purchase or consignment-use trays, implants, and procedure support items to enable cases and maintain inventory availability.

Healthcare systems and payors

Influence adoption through reimbursement coverage and payment policies that affect procedure economics.

International distributors and resellers

Buy or distribute products in non-U.S. markets where SI-BONE uses a mixed direct and partner model.

Strategia

SI-BONE’s strategy centers on expanding procedure volume by broadening its product portfolio and increasing the number of active physicians using its systems. The company is also focused on improving sales-force productivity, deploying instrument trays more efficiently, and tightening supply-chain and manufacturing execution to support growth. These priorities reinforce its position in anatomy-specific, minimally invasive sacropelvic surgery.

Grow procedure volume through portfolio expansionKeskipitkä aikaväli

More indications and product lines increase the number of cases a surgeon can treat with SI-BONE systems.

Improve commercial productivityLyhyt aikaväli

Higher sales-force efficiency supports broader physician coverage without proportional overhead growth.

Strengthen supply and manufacturing executionLyhyt aikaväli

Reliable implant availability and lower rework are important in procedure-driven medical device sales.

Maantiede

Q1/2026

The United States is the company’s core market and accounted for 95% of revenue in 2025, with international markets contributing the remaining 5%. International activity is concentrated in Europe and other selected markets where SI-BONE uses direct sales, agents, and resellers. Geography matters because the business depends on U.S. reimbursement, while international growth requires regulatory clearances and local commercial coverage.

USA94 %
Other countries (US filing)6,2 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

SI-BONE faces competition from other implant and spine companies, and adoption depends on clinical evidence, reimbursement, and surgeon preference. The business is also exposed to supply-chain disruptions, sterilization dependencies, regulatory scrutiny around physician relationships, and cybersecurity risks tied to sensitive data and connected systems.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Intense competition in sacropelvic and spine implants1Supply-chain and sterilization disruptions2Regulatory scrutiny of physician financial relationships3Sales-force retention and productivity risk4Cybersecurity and data privacy incidents5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Intense competition in sacropelvic and spine implantsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Surgeons can choose alternative products based on evidence, ease of use, and reimbursement.

    Kohdistuu: Core U.S. implant franchise

  2. Supply-chain and sterilization disruptionsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company relies on third-party suppliers for materials, components, and sterilization services.

    Kohdistuu: Product availability and case fulfillment

  3. Regulatory scrutiny of physician financial relationshipsVaikutus: KorkeaTodennäköisyys: Matala

    Consulting, royalty, and co-marketing arrangements may be challenged under anti-kickback laws.

    Kohdistuu: Commercial relationships and compliance

  4. Sales-force retention and productivity riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The model depends on trained reps and agents who support surgeons and case coverage.

    Kohdistuu: Commercial execution

  5. Cybersecurity and data privacy incidentsVaikutus: KeskitasoTodennäköisyys: Matala

    A breach could expose confidential information, disrupt systems, and create legal liability.

    Kohdistuu: IT systems and sensitive data

Kysy Clarifolta: SI-BONE, Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

Procedure-driven sales and consignment arrangements can affect when revenue is recorded.

Vaikutus: Quarterly revenue timing and comparability

Seasonality

The company has historically experienced lower summer sales and stronger fourth-quarter sales.

Vaikutus: Quarterly trend interpretation

Inventory and instrument tray capitalization

Tray deployment and inventory levels affect asset utilization and balance-sheet carrying values.

Vaikutus: Working capital and gross margin

Estimates and judgments

Management uses estimates for assets, liabilities, and expenses under U.S. GAAP.

Vaikutus: Reported earnings and balance-sheet values

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Bioventus Inc.

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Treace Medical Concepts, Inc

TMCI · Surgical & Medical Instruments & Apparatus

Intuitive Surgical, Inc

ISRG · Orthopedic, Prosthetic & Surgical Appliances & Supplies

Orthofix Medical Inc.

OFIX · Surgical & Medical Instruments & Apparatus

Päivitetty: 24.9.2026

SI-BONE, Inc. (SIBN) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo