SI-BONE, Inc.

Listed Company

SIBNCIK 0001459839NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$200.93M

Net Income

$-18.90M

Total Assets

$238.56M

Equity

$177.53M

Shares Out

44.17M

Op. Cash Flow

$-675.0K

Business

SI-BONE, Inc. is a medical device company focused on solving musculoskeletal disorders of the sacropelvic anatomy through minimally invasive surgical solutions. It offers proprietary patented titanium implants, implantable bone (allograft) products, and the instruments and training needed to implant them, including multiple iFuse product families and related clinical education. Its key clinical applications and product segments address sacroiliac joint dysfunction and degeneration, spinopelvic fixation/adult spinal deformity, and pelvic fracture/trauma. SI-BONE markets primarily in the United States via a direct sales force and third‑party agents, and internationally through a mix of direct sales, agents, and resellers.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	201	167	139	106	90
Cost of goods sold	41	35	29	16	10
Gross profit	160	132	109	91	80
Sales and marketing	124	117	110	108	94
Research and development	17	17	15	14	12
General and administrative	41	34	31	29	25
Total operating expenses	182	167	156	150	131
Loss from operations	−22	−35	−47	−60	−52
Interest income	6	8	7	1	186,000
Interest expense	−3	−3	−3	−3	—
Other income (expense), net	−20,000	−73,000	141,000	−132,000	277,000
Net loss	−19	−31	−43	−61	−57
Unrealized gain (loss) of marketable securities	13,000	26,000	166,000	−65,000	−31,000
Changes in foreign currency translation	559,000	−117,000	−63,000	−55,000	−141,000
Comprehensive loss	−18	−31	−43	−61	−57
Net loss per share, basic (in dollars per share)	−0.44	−0.75	−1.13	−1.79	−1.71
Net loss per share, diluted (in dollars per share)	−0.44	−0.75	−1.13	−1.79	−1.71
Weighted-average number of common shares used to compute basic net loss per share (in shares)	43	41	38	34	33
Weighted-average number of common shares used to compute diluted net loss per share (in shares)	43	41	38	34	33

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	42	35	33	21	63
Short-term investments	106	115	133	77	—
Accounts receivable, net of allowance for credit losses of $1,013 and $588, respectively	30	27	22	21	14
Inventory	34	27	20	17	11
Prepaid expenses and other current assets	4	3	3	2	3
Total current assets	216	208	211	138	176
Property and equipment, net	21	20	16	16	9
Operating lease right-of-use assets	1	2	3	4	5
Other non-current assets	55,000	300,000	325,000	375,000	400,000
TOTAL ASSETS	239	230	230	158	191
Accounts payable	5	6	5	6	3
Accrued liabilities and other	20	19	17	14	12
Operating lease liabilities, current portion	944,000	1	1	1	1
Total current liabilities	25	27	23	21	17
Long-term borrowings	36	35	36	35	35
Operating lease liabilities, net of current portion	175,000	879,000	2	3	4
Other long-term liabilities	0	10,000	18,000	30,000	57,000
TOTAL LIABILITIES	61	63	61	59	56
Commitments and contingencies (Note 6)	—	—	—	—	—
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 43,647,131 and 42,086,477 shares issued and outstanding, respectively	4,000	4,000	4,000	3,000	3,000
Additional paid-in capital	627	598	569	455	430
Accumulated other comprehensive income	816,000	244,000	335,000	232,000	352,000
Accumulated deficit	−450	−431	−400	−357	−296
TOTAL STOCKHOLDERS EQUITY	178	167	169	98	134
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	239	230	230	158	191

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	26	26	24	23	17
Depreciation and amortization	6	4	5	3	2
Accounts receivable credit losses	570,000	470,000	761,000	150,000	14,000
Inventory reserve	2	1	2	319,000	—
Amortization of discount and premium on marketable securities	−3	−5	−4	229,000	1
Amortization of debt issuance costs	117,000	153,000	208,000	198,000	288,000
Loss on disposal of property and equipment	2	2	1	153,000	399,000
Accounts receivable	−3	−6	−2	−6	−569,000
Inventory	−9	−8	−5	−6	−6
Prepaid expenses and other assets	−1	−2,000	−762,000	810,000	−594,000
Accounts payable	−2	2	−1	3	−532,000
Accrued liabilities and other	179,000	2	4	1	2
Net cash used in operating activities	−675,000	−12	−19	−42	−40
Maturities of marketable securities	205	229	138	126	160
Purchases of marketable securities	−193	−205	−189	−120	−102
Purchases of property and equipment	−8	−10	−8	−10	−6
Net cash provided by (used in) investing activities	4	13	−60	−3	52
Proceeds from follow-on public offering, net of underwriting discounts, commissions and offering costs	0	0	84	0	0
Proceeds from debt financing, net of debt issuance cost	0	36	36	0	35
Repayments of debt financing	0	−36	−35	0	−41
Final payment fee related to debt	0	−720,000	0	0	—
Proceeds from the exercise of common stock options	1	570,000	4	379,000	3
Proceeds from issuance of common stock under employee stock purchase plan	2	2	2	2	2
Net cash provided by financing activities	3	2	91	2	−2
Effect of exchange rate changes on cash and cash equivalents	431,000	−479,000	132,000	−429,000	−498,000
Net increase in cash and cash equivalents	7	2	13	−43	10
Cash paid for interest	3	3	3	3	3
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	251,000	449,000	143,000	127,000	—
Unpaid purchases of property and equipment	495,000	588,000	501,000	1	509,000

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