SHOULDER INNOVATIONS, INC.
Business
Shoulder Innovations is a commercial-stage medical technology company exclusively focused on shoulder surgical care, offering advanced implant systems for anatomic and reverse total shoulder arthroplasty. The company provides InSet implant technology, ProVoyance AI-enabled preoperative planning software, efficient two-tray instrument systems, and specialized surgeon support and education. Shoulder Innovations serves surgeons and healthcare facilities performing shoulder arthroplasty procedures in hospitals, outpatient centers, and ambulatory surgery centers, primarily in the United States with international expansion plans.
Summary from 10-K filed 2026-07-01
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Net Revenue | 47 | 32 | |
| Cost of Goods Sold | 11 | 7 | |
| Gross Profit | 36 | 24 | |
| Selling, general, and administrative expenses | 55 | 35 | |
| Research and development expenses | 8 | 4 | |
| Operating Loss | −26 | −15 | |
| Interest expense, net | 70,000 | 1 | |
| Change in fair value of convertible notes, net | 2 | 0 | |
| Change in fair value of Series E purchase option | 12 | 0 | |
| Other (income) expense, net | 56,000 | −350,000 | |
| Total Other Expense | 14 | 966,000 | |
| Loss before income tax expense | −40 | −16 | |
| Income Tax Expense | 0 | 0 | |
| Net Loss | −40 | −16 | |
| Unrealized loss on marketable securities | −80,000 | −159,000 | |
| Total Other Comprehensive loss, net | −80,000 | −159,000 | |
| Comprehensive loss | −40 | −16 | |
| Net loss per share (in dollars per share) | −4.65 | −242.04 | |
| Net loss per share (in dollars per share) | −4.65 | −242.04 | |
| Weighted average common shares outstanding basic (in shares) | 9 | 64,530 | |
| Weighted average common shares outstanding diluted (in shares) | 9 | 64,530 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | 27 | 6 | — | |
| Marketable securities | 97 | 9 | — | |
| Trade accounts receivable, net of allowance for credit losses | 8 | 5 | — | |
| Inventories, net | 22 | 14 | — | |
| Prepaid expenses | 2 | 431,000 | — | |
| Other current assets | 1 | 573,000 | — | |
| Total Current Assets | 157 | 35 | — | |
| Property and equipment, net | 13 | 7 | — | |
| Operating lease right-of-use asset | 110,000 | 68,000 | — | |
| Intangible assets, net | 100,000 | 400,000 | — | |
| Total Assets | 170 | 43 | — | |
| Accounts payable ($1,220 and $813 to related parties, respectively) | 9 | 5 | — | |
| Current operating lease obligations | 62,000 | 47,000 | — | |
| Accrued liabilities ($575 and $344 to related parties, respectively) | 5 | 3 | — | |
| Total Current Liabilities | 14 | 8 | — | |
| Preferred stock warrant liability | 0 | 970,000 | — | |
| Long-term debt | 15 | 15 | — | |
| Long-term operating lease obligations | 51,000 | 25,000 | — | |
| Total Long-Term Liabilities | 15 | 16 | — | |
| Total Liabilities | 29 | 23 | — | |
| Commitments and contingencies (note 13) | — | — | — | |
| Convertible Preferred Stock | 0 | 74 | 74 | |
| Common stock | 21,000 | 1,000 | — | |
| Preferred stock | 0 | 0 | — | |
| Additional paid-in capital | 238 | 2 | — | |
| Accumulated deficit | −97 | −57 | — | |
| Accumulated other comprehensive income | 117,000 | 197,000 | — | |
| Total Stockholders Equity (Deficit) | 141 | −55 | −40 | |
| Total Liabilities, Convertible Preferred Stock, and Stockholders Equity (Deficit) | 170 | 43 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Depreciation and amortization | 3 | 2 | |
| Amortization of debt discounts | 253,000 | 307,000 | |
| Credit losses, net of recoveries | 153,000 | 146,000 | |
| Loss on disposal of long-lived assets | 100,000 | 44,000 | |
| Stock compensation expense | 996,000 | 754,000 | |
| Realized gain on marketable securities | −404,000 | −482,000 | |
| Change in fair value of warrant liabilities and Series E purchase option | 12 | 119,000 | |
| Change in fair value of convertible notes, net | 2 | 0 | |
| Other | 0 | −571,000 | |
| Trade accounts receivable | −3 | −575,000 | |
| Inventory | −8 | −4 | |
| Prepaid expenses | −1 | −12,000 | |
| Accounts payable | 3 | 3 | |
| Other current assets and liabilities | 2 | 458,000 | |
| Net Cash Used in Operating Activities | −29 | −14 | |
| Fixed asset purchases | −7 | −4 | |
| Purchases of marketable securities | −119 | −5 | |
| Sales of marketable securities | 31 | 23 | |
| Net Cash Provided (Used) in Investing Activities | −96 | 14 | |
| Proceeds from exercise of common stock options | 919,000 | 66,000 | |
| Proceeds from exercise of preferred stock warrants | 455,000 | 0 | |
| Proceeds from Series E convertible preferred stock, net of issuance cost | 40 | 0 | |
| Proceeds from the issuance of convertible notes, net of issuance costs | 40 | 0 | |
| Proceeds from IPO, net of commissions and issuance costs | 64 | 0 | |
| Net Cash Provided in Financing Activities | 145 | 66,000 | |
| Net Change in Cash for Period | 21 | −113,000 | |
| Cash paid for interest | 2 | 2 | |
| Capital expenditures included in accounts payable | 1 | 455,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is SHOULDER INNOVATIONS, INC.'s CIK number?
SHOULDER INNOVATIONS, INC.'s SEC CIK number is 0001699350 (1699350). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SHOULDER INNOVATIONS, INC.'s SEC filings?
All of SHOULDER INNOVATIONS, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SHOULDER INNOVATIONS, INC. last report earnings?
SHOULDER INNOVATIONS, INC. (SI) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001699350-26-000033). This is SHOULDER INNOVATIONS, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is SHOULDER INNOVATIONS, INC.'s most recent earnings 8-K?
SHOULDER INNOVATIONS, INC.'s latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001699350-26-000033. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View SHOULDER INNOVATIONS, INC.'s latest earnings 8-K →
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