S
SHOULDER INNOVATIONS, INC.
SICIK 0001699350NYSENon-AcceleratedSmaller ReportingEmerging GrowthSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31
Period
FY 2025
Revenue
$47.32M
Net Income
$-40.36M
Total Assets
$169.91M
Equity
$140.75M
Shares Out
20.65M
Op. Cash Flow
$-28.61M
Business
SHOULDER INNOVATIONS, INC. is a publicly listed company in Surgical & Medical Instruments & Apparatus, incorporated in Delaware. Common stock trades on NYSE under the ticker SI.
Auto-generated from company profile
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| 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
As of · In millions, except per-share amounts
| 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
Year Ended · In millions, except per-share amounts
| 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
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