[Executive Summary & Highlights](index=1&type=section&id=executive-summary-highlights) [Second Quarter 2025 Performance Overview](index=1&type=section&id=second-quarter-2025-performance-overview) SI-BONE reported strong second-quarter 2025 financial results, achieving approximately 22% worldwide revenue growth, positive Adjusted EBITDA, and cash flow breakeven, driven by innovation and expanding physician engagement Second Quarter 2025 Financial & Operational Highlights | Metric | Q2 2025 Value | YoY Change | Source | | :----------------------------------- | :------------ | :--------- | :----- | | Worldwide Revenue | $48.6 million | +21.7% | [3] | | U.S. Revenue | $46.4 million | +22.8% | [3] | | Gross Margin | 79.8% | +80 bps | [3] | | Net Loss | $6.2 million | -31.2% | [3] | | Adjusted EBITDA | $1.0 million | Positive | [3] | | Cash and Equivalents | $145.5 million| N/A | [3] | | Net Cash Generated in Quarter | $1.1 million | N/A | [3] | | Active U.S. Physicians | 1,440 | +~25% | [3] | | Trailing 12-Month Avg. Revenue per Territory | $2.1 million | +~23% | [3] | [Recent Operational Highlights](index=1&type=section&id=recent-operational-highlights) Key operational achievements include favorable regulatory updates for iFuse TORQ TNT and Granite, and the successful launch of iFuse TORQ across Europe - CMS confirmed New Technology Add-On Payment (NTAP) for iFuse TORQ TNT, effective October 1, 2025, providing an additional amount up to **$4,136** for procedures[3](index=3&type=chunk) - CMS proposed the continuation of the Transitional Pass-Through Payment for Granite for CY2026[3](index=3&type=chunk) - Launched iFuse TORQ across Europe in July, with initial cases performed in multiple countries[3](index=3&type=chunk) [Commercial Leadership Update](index=1&type=section&id=commercial-leadership-update) Tony Recupero, President, Commercial Operations, announced his retirement effective February 15, 2026, and will transition to an advisory role; Nikolas Kerr has been appointed Chief Commercial Officer to succeed him - Tony Recupero, President, Commercial Operations, announced his decision to retire effective **February 15, 2026**, and will transition to a 12-month advisory role[3](index=3&type=chunk) - Nikolas Kerr, Senior Vice President of Product, Marketing and Business Development, was appointed Chief Commercial Officer, effective **February 16, 2026**, to succeed Tony Recupero[3](index=3&type=chunk) [Second Quarter 2025 Financial Results](index=2&type=section&id=second-quarter-2025-financial-results) [Revenue Performance](index=2&type=section&id=revenue-performance) SI-BONE achieved strong double-digit revenue growth in Q2 2025, primarily driven by robust U.S. procedure demand and accelerating adoption of new product launches Q2 2025 Revenue Performance (YoY) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | YoY Change | | :----------------- | :----------------- | :----------------- | :--------- | | Worldwide Revenue | $48.6 | $40.0 | +21.7% | | U.S. Revenue | $46.4 | $37.8 | +22.8% | | International Revenue | $2.2 | $2.2 | 0.0% | [Profitability Analysis](index=2&type=section&id=profitability-analysis) Gross profit increased significantly with an improved gross margin, while operating expenses rose due to commercial activities; both operating loss and net loss showed substantial year-over-year improvements Q2 2025 Profitability Metrics (YoY) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | YoY Change | | :-------------------- | :----------------- | :----------------- | :--------- | | Gross Profit | $38.8 | $31.6 | +22.9% | | Gross Margin | 79.8% | 79.0% | +80 bps | | Operating Expenses | $45.8 | $41.7 | +10.0% | | Operating Loss | $(7.0) | $(10.1) | -30.5% | | Net Loss | $(6.2) | $(8.9) | -31.2% | | Net Loss per Diluted Share | $(0.14) | $(0.22) | -36.4% | - The increase in operating expenses was primarily driven by general commercial activity related to higher revenue and new product rollout, as well as elevated general and administrative spend[7](index=7&type=chunk) [Adjusted EBITDA and Cash Flow](index=3&type=section&id=adjusted-ebitda-and-cash-flow) The company achieved positive Adjusted EBITDA and generated net cash in Q2 2025, marking a significant improvement from a loss and cash usage in the prior year period Q2 2025 Adjusted EBITDA and Cash Flow (YoY) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change | | :-------------------- | :----------------- | :----------------- | :----- | | Adjusted EBITDA | $1.0 | $(2.7) | Improved | | Cash and Equivalents (as of June 30, 2025) | $145.5 | N/A | N/A | | Net Cash Generated | $1.1 | $(6.3) | Improved | [Fiscal 2025 Updated Financial Guidance](index=3&type=section&id=fiscal-2025-updated-financial-guidance) [Updated Guidance Details](index=3&type=section&id=updated-guidance-details) SI-BONE raised its 2025 worldwide revenue guidance and reaffirmed expectations for positive Adjusted EBITDA, reflecting confidence in continued growth and profitability Fiscal Year 2025 Financial Guidance Update | Metric | New Guidance (Aug 4, 2025) | Prior Guidance (May 5, 2025) | | :---------------- | :------------------------- | :------------------------- | | Revenue | $195M - $198M | $193.5M - $197.5M | | Growth | ~17%-18% | ~16%-18% | | Gross Margin | 78.5% to 79.0% | 78% | | Operating Expenses| ~10% growth at revenue midpoint | ~10% growth at revenue midpoint | | Adjusted EBITDA | Positive | Positive | [Company Information](index=4&type=section&id=company-information) [About SI-BONE, Inc.](index=4&type=section&id=about-si-bone-inc) SI-BONE is a global leader in developing unique technologies for the surgical treatment of sacropelvic disorders, having pioneered minimally invasive SI joint surgery and supported nearly 130,000 procedures with extensive clinical evidence - SI-BONE pioneered minimally invasive SI joint surgery in **2009**[13](index=13&type=chunk) - The company has supported over **4,600 physicians** in performing nearly **130,000 procedures**[13](index=13&type=chunk) - Clinical evidence includes **four randomized controlled trials** and over **175 peer-reviewed publications**[13](index=13&type=chunk) - SI-BONE has expanded its solutions to adjacent markets, including adult deformity, sacropelvic fixation, and pelvic trauma[13](index=13&type=chunk) [Financial Statements](index=7&type=section&id=financial-statements) [Condensed Consolidated Statements of Operations](index=7&type=section&id=condensed-consolidated-statements-of-operations) The condensed consolidated statements of operations show significant revenue growth and improved net loss for both the three and six months ended June 30, 2025, compared to the prior year periods Condensed Consolidated Statements of Operations (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Revenue | $48,630 | $39,969 | $95,920 | $77,836 | | Cost of goods sold | 9,823 | 8,393 | 19,418 | 16,395 | | Gross profit | 38,807 | 31,576 | 76,502 | 61,441 | | Sales and marketing | 30,781 | 28,970 | 61,462 | 58,357 | | Research and development | 4,309 | 4,352 | 8,843 | 8,697 | | General and administrative | 10,721 | 8,332 | 20,681 | 16,508 | | Total operating expenses | 45,811 | 41,654 | 90,986 | 83,562 | | Loss from operations | (7,004) | (10,078) | (14,484) | (22,121) | | Interest income | 1,520 | 2,015 | 3,112 | 4,128 | | Interest expense | (666) | (880) | (1,328) | (1,761) | | Other income (expense) | (2) | 4 | 6 | (89) | | Net loss | $(6,152) | $(8,939) | $(12,694) | $(19,843) | | Net loss per share, basic and diluted | $(0.14) | $(0.22) | $(0.30) | $(0.48) | | Weighted-average number of common shares used to compute basic and diluted net loss per share | 42,788,123 | 41,317,627 | 42,564,158 | 41,126,009 | [Condensed Consolidated Balance Sheets](index=8&type=section&id=condensed-consolidated-balance-sheets) The condensed consolidated balance sheet as of June 30, 2025, shows a slight increase in total assets and stockholders' equity, alongside a decrease in total liabilities, compared to December 31, 2024 Condensed Consolidated Balance Sheets (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | **ASSETS** | | | | Cash and cash equivalents | $34,150 | $34,948 | | Short-term investments | 111,394 | 115,094 | | Accounts receivable | 24,371 | 27,459 | | Inventory | 34,245 | 27,074 | | Prepaid expenses and other current assets | 3,289 | 3,204 | | Total current assets | 207,449 | 207,779 | | Property and equipment, net | 21,701 | 20,374 | | Operating lease right-of-use assets | 1,465 | 1,984 | | Other non-current assets | 306 | 300 | | **TOTAL ASSETS** | **$230,921** | **$230,437** | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Accounts payable | $7,495 | $6,488 | | Accrued liabilities and other | 16,149 | 19,492 | | Operating lease liabilities, current portion | 1,106 | 1,152 | | Total current liabilities | 24,750 | 27,132 | | Long-term borrowings | 35,510 | 35,452 | | Operating lease liabilities, net of current portion | 318 | 879 | | Other long-term liabilities | — | 10 | | **TOTAL LIABILITIES** | **60,578** | **63,473** | | **STOCKHOLDERS' EQUITY** | | | | Common stock | 4 | 4 | | Additional paid-in capital | 613,727 | 598,070 | | Accumulated other comprehensive income | 660 | 244 | | Accumulated deficit | (444,048) | (431,354) | | **TOTAL STOCKHOLDERS' EQUITY** | **170,343** | **166,964** | | **TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | **$230,921** | **$230,437** | [Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA](index=9&type=section&id=reconciliation-of-net-loss-to-non-gaap-adjusted-ebitda) The reconciliation demonstrates a significant improvement in Adjusted EBITDA, moving from a loss in Q2 2024 to a positive figure in Q2 2025, and a reduced loss for the six-month period Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Net loss | $(6,152) | $(8,939) | $(12,694) | $(19,843) | | Interest income | (1,520) | (2,015) | (3,112) | (4,128) | | Interest expense | 666 | 880 | 1,328 | 1,761 | | Depreciation and amortization | 1,368 | 992 | 2,646 | 2,081 | | Stock-based compensation | 6,658 | 6,398 | 13,321 | 13,428 | | Adjusted EBITDA | $1,020 | $(2,684) | $1,489 | $(6,701) | [Additional Information](index=3&type=section&id=additional-information) [Webcast Information](index=3&type=section&id=webcast-information) SI-BONE will host a conference call on August 4, 2025, to discuss its second-quarter 2025 financial results, with live audio and archived replay available via webcast - Conference call to discuss Q2 2025 financial results will be held on **Monday, August 4, 2025, at 4:30 P.M. Eastern Time**[12](index=12&type=chunk) - The live webcast will be accessible at https://edge.media-server.com/mmc/p/fnam2tia and on the 'Investors' section of www.si-bone.com[12](index=12&type=chunk) - An archived replay of the webcast will be available for **at least 90 days** after the event[12](index=12&type=chunk) [Forward-Looking Statements](index=5&type=section&id=forward-looking-statements) The report contains forward-looking statements regarding future events and financial outlook, which are inherently subject to significant risks and uncertainties, and actual results may differ materially - Statements regarding future events or results, including revenue and procedure growth expectations and financial outlook, are **'forward-looking' statements**[15](index=15&type=chunk) - These statements are based on current expectations and involve significant risks and uncertainties, such as the ability to commercialize new products, maintain favorable reimbursement, economic conditions, supply chain management, and capital requirements[15](index=15&type=chunk) - SI-BONE does not undertake any obligation to update or revise forward-looking statements, except as required by law[15](index=15&type=chunk) [Use of Non-GAAP Financial Measures](index=5&type=section&id=use-of-non-gaap-financial-measures) SI-BONE utilizes Adjusted EBITDA as a non-GAAP financial measure to provide supplemental information for analyzing period-to-period financial performance and core operational activities, excluding specific non-cash and non-operating items - **Adjusted EBITDA** is a non-GAAP financial measure that excludes interest income, interest expense, depreciation and amortization, and stock-based compensation from net loss[16](index=16&type=chunk) - Management uses Adjusted EBITDA to consistently analyze period-to-period financial performance and evaluate core operational activities[16](index=16&type=chunk) - Adjusted EBITDA should be considered supplemental to, not a substitute for, financial information prepared in accordance with GAAP, and investors are encouraged to review the company's consolidated financial statements in their entirety[17](index=17&type=chunk) [Investor Contact](index=6&type=section&id=investor-contact) Contact information for investor relations is provided for inquiries - Investor Contact: Saqib Iqbal, VP, FP&A, and Investor Relations[18](index=18&type=chunk) - Email: investors@SI-BONE.com[18](index=18&type=chunk)

Core Insights - SI-BONE, Inc. reported strong financial results for Q2 2025, with worldwide revenue of $48.6 million, a 21.7% increase from $40.0 million in Q2 2024, driven by robust procedure demand and successful product launches [5][4][7] - The company achieved a gross profit of $38.8 million, reflecting a gross margin of 79.8%, an improvement of 80 basis points compared to the previous year [6][7] - SI-BONE's net loss improved by 31.2% to $6.2 million, or $0.14 per diluted share, compared to a net loss of $8.9 million, or $0.22 per diluted share in Q2 2024 [9][7] Financial Performance - U.S. revenue for Q2 2025 was $46.4 million, a 22.8% increase from $37.8 million in Q2 2024, benefiting from strong underlying procedure demand [5][7] - Operating expenses increased by 10.0% to $45.8 million, primarily due to higher commercial activity and new product rollouts [8] - Adjusted EBITDA was positive at $1.0 million, improving from an adjusted EBITDA loss of $2.7 million in the same period last year [9][7] Operational Highlights - The company reported 1,440 active U.S. physicians, representing a growth of approximately 25% [7] - The trailing 12-month average revenue per territory increased by approximately 23% to $2.1 million [7] - SI-BONE launched the iFuse TORQ across Europe in July 2025, with initial cases performed in multiple countries [7] Leadership Update - Tony Recupero, President of Commercial Operations, announced his retirement effective February 15, 2026, transitioning to an advisory role [7][4] - Nikolas Kerr has been appointed as the new Chief Commercial Officer, effective February 16, 2026 [7][4] Financial Guidance - SI-BONE expects 2025 worldwide revenue to be in the range of $195 million to $198 million, implying year-over-year growth of approximately 17% to 18% [11][12] - The company estimates full-year 2025 gross margin to be between 78.5% and 79.0% and anticipates operating expenses to grow at approximately 10% at the midpoint of the revenue guidance [11][12]

Core Insights - SI-BONE, Inc. will participate in the Canaccord Genuity 45th Annual Growth Conference in Boston, MA, on August 12, 2025 [1] - The company has pioneered minimally invasive SI joint surgery since 2009 and has supported over 4,600 physicians in performing over 125,000 procedures [3] Company Overview - SI-BONE is a global leader in developing technologies for surgical treatment of sacropelvic disorders [3] - The company has a strong clinical foundation with over 175 peer-reviewed publications, including four randomized controlled trials [3] - SI-BONE has expanded its offerings to adjacent markets, including adult deformity, spinopelvic and sacropelvic fixation, and pelvic trauma [3] Conference Participation - Management will host a fireside chat at the conference on August 12, 2025, at 12:00 p.m. Pacific Time [1] - Investors can register for the conference call and access the live audio webcast through the company's website [2]

Core Viewpoint - SI-BONE, Inc. is set to report its financial results for Q2 2025 on August 4, 2025, with a conference call scheduled for the same day [1]. Company Overview - SI-BONE, Inc. is a leader in developing technologies for surgical treatment of sacropelvic disorders, having pioneered minimally invasive SI joint surgery in 2009 with the iFuse Implant System [3]. - The company has supported over 4,500 physicians in performing more than 125,000 procedures, backed by over 175 peer-reviewed publications, including two randomized controlled trials [3]. - SI-BONE has expanded its offerings to adjacent markets, including adult deformity, spinopelvic and sacropelvic fixation, and pelvic trauma [3].

Core Viewpoint - Si-Bone (SIBN) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value for a stock, prompting institutional investors to buy or sell, thus affecting stock prices [4]. Si-Bone's Earnings Outlook - The recent upgrade for Si-Bone indicates an improvement in the company's underlying business, which is expected to positively influence its stock price [5][10]. - Analysts have raised their earnings estimates for Si-Bone, with the Zacks Consensus Estimate increasing by 7.7% over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - Si-Bone's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Summary of Cybone's Conference Call Company Overview - **Company**: Cybone - **Industry**: Medical Technology (Med Tech) - **Focus**: Orthopedic, neuro, spine trauma, and interventional spine products Key Points and Arguments Product Portfolio and Market Expansion - Cybone has a diverse product portfolio targeting three main markets: SI joint dysfunction, pelvic fixation, and trauma-related products [2][3][4] - The total addressable market (TAM) for SI joint dysfunction is estimated at **$2.5 billion**, with approximately **300,000 annual procedures**, and Cybone has only **10% market penetration** [4] - The pelvic fixation market is estimated at **$1 billion**, with about **130,000 procedures** annually [8] - The company launched several products, including iFuse Torque and Granite, to address specific needs in these markets [3][6][10] Growth Metrics - Since the IPO, Cybone has achieved a **CAGR of 20%** in revenue growth, accelerating to **23%** in the last three years [11] - Recent quarterly growth rates reached **25% worldwide** and **27% in the U.S.** [42] - The number of active surgeons using Cybone's products reached **1,400**, with a record addition of **300 new doctors** year-over-year [13][14] Surgeon Engagement and Adoption - The company has seen broad-based growth across various specialties, including interventional, trauma, and orthopedic surgeons [12][14] - There was a **45% increase** in the number of doctors performing multimodality procedures, indicating strong engagement with the expanded product portfolio [14] - Cybone aims to increase density by targeting surgeons who primarily perform lumbar fusion procedures to adopt Granite for SI joint dysfunction [15][16] Future Product Development - Cybone is committed to R&D, spending **10% to 12% of revenue** on clinical evidence and product development [35] - The company plans to launch a third breakthrough device and additional products targeting unmet clinical needs [36][37][39] Financial Performance and Guidance - Gross margins are currently around **80%**, with expectations to stabilize between **76% to 77%** in the long term [50] - The company has adopted a conservative approach to guidance, reflecting macroeconomic uncertainties [43][44] - Cybone's operational leverage is strong, with revenue growth outpacing operating expense growth [52] Market Dynamics and Competitive Landscape - Cybone focuses primarily on surgeons, although there is potential for interventionalists to perform procedures [24][25] - The company has established itself as a preferred partner for interventional spine physicians by offering a comprehensive portfolio and strong clinical data [32][31] Sales Force and Territory Expansion - Cybone plans to expand its sales force to capitalize on growth opportunities, aiming for **100 territories** over the next 12 to 18 months [56][57] - New hires typically take **2 to 2.5 years** to reach full productivity, but this can be accelerated with the right support [58] Additional Important Insights - Cybone's strategy emphasizes identifying unmet clinical needs and developing unique solutions, which has led to high gross margins and a strong financial profile [34] - The company is focused on maintaining a strong relationship with interventionalists while also expanding its reach among surgeons [28][29] This summary encapsulates the key points discussed during the conference call, highlighting Cybone's strategic focus, growth metrics, product development, and market positioning.

Summary of SI-BONE (SIBN) FY Conference Call - June 10, 2025 Company Overview - **Company**: SI-BONE (SIBN) - **Industry**: Medical Devices, specifically focused on surgical solutions for the sacroiliac (SI) joint and pelvic fixation Key Points and Arguments Business Performance - The company is experiencing significant growth, with Q1 revenue growth of **25% worldwide** and **27% in the U.S.** [7][8] - Over **1,400 physicians** performed at least one case in Q1, marking a **300 increase year-over-year** [7] - The company achieved **adjusted EBITDA profitability** in Q1, which was not anticipated due to seasonal sales dips [8] - Revenue for the year is estimated to be **less than $200 million** [8] Market Dynamics - The company operates in a niche market, focusing on unmet clinical needs rather than competing directly with traditional spine companies [12][14] - The Total Addressable Market (TAM) for SI joint fusion is estimated at **280,000 cases per year**, with current market penetration at **less than 10%** [14][15] - The company has launched innovative products, including the **Granite** and **TNT** devices, which have received FDA breakthrough device designation [16][18] Product Development and Strategy - SI-BONE has transitioned from a one-product company to a multi-product company, focusing on the sacropelvic space [34] - The company aims to launch **two products per year**, with a focus on addressing unmet clinical needs [33] - The Granite product is expected to become the **standard of care** in deformity procedures [26] Financial Metrics - The company reported a **gross margin of 79.7%** in Q1, which is an increase of **80 basis points** from the previous year [51] - Guidance for gross margins in the mid-term is projected to be in the **76% to 77% range** due to new product launches and scaling [56] - Operating expenses (OpEx) are expected to grow by **10%** this year, with R&D seeing a lift due to new product launches [58] Sales and Marketing Strategy - The company is expanding its sales force to **100 territories** over the next 18 months [65] - A hybrid sales model is being utilized, combining direct sales with educational support for surgeons [43][46] - The company has implemented an **academic training program** to educate new surgeons on SI joint dysfunction, leading to higher adoption rates [40][41] Reimbursement and Pricing - The company has successfully secured **new technology add-on payments** for its products, enhancing initial adoption [48][49] - The Granite technology will have a transitional pass-through code effective January 2025, covering the full cost of the technology [48] Future Outlook - The company is optimistic about maintaining a **positive adjusted EBITDA** and free cash flow by 2026, driven by high gross margins and operational leverage [64][70] - There is a strong focus on clinical evidence to support new product launches and market expansion [66] Investor Sentiment - There is increasing interest from investors due to the company's consistent growth profile of over **20%** in recent years and demonstrated profitability [69][70] Additional Important Information - The company emphasizes its differentiation from traditional spine companies by focusing on specific clinical needs and innovative product development [12][14] - The management team is committed to educating investors about the company's unique position in the market [71]

Company Overview - SI-BONE, Inc. is a medical device company focused on addressing sacropelvic disorders and is recognized as a global leader in developing innovative surgical technologies [3] - The company pioneered minimally invasive SI joint surgery in 2009 with the introduction of the iFuse Implant System, supporting over 4,500 physicians and facilitating more than 120,000 procedures [3] - SI-BONE has established a strong clinical foundation with over 160 peer-reviewed publications, including two randomized controlled trials, validating the effectiveness of its technologies [3] Upcoming Event - SI-BONE will participate in the 2025 Truist Securities MedTech Conference in Boston, MA, with a fireside chat scheduled for June 17, 2025, at 10:00 a.m. Pacific Time [1] - Investors can register for the conference call and access a live audio webcast on the company's website, which will be archived for at least 90 days post-event [2]

Company Participation - SI-BONE, Inc. will participate in the 2025 Goldman Sachs 46 Global Healthcare Conference in Miami Beach, FL, hosting a fireside chat on June 10, 2025, at 8:20 a.m. Pacific Time [1] Company Overview - SI-BONE is a global leader in developing technologies for surgical treatment of sacropelvic disorders, having pioneered minimally invasive SI joint surgery in 2009 with the iFuse Implant System [3] - The company has supported over 4,500 physicians in performing more than 120,000 procedures, backed by over 160 peer-reviewed publications, including two randomized controlled trials [3] - SI-BONE has expanded its offerings to adjacent markets, including adult deformity, spinopelvic and sacropelvic fixation, and pelvic trauma [3]

Core Viewpoint - Si-Bone (SIBN) shares have increased by 27.6% in the past four weeks, closing at $18.38, with a mean price target of $24.67 indicating a potential upside of 34.2% [1] Price Targets and Analyst Estimates - The mean estimate consists of nine short-term price targets with a standard deviation of $3.57, where the lowest estimate is $19 (3.4% increase) and the highest is $32 (74.1% increase) [2] - A low standard deviation suggests a high degree of agreement among analysts regarding the stock's price movement [9] Earnings Estimates and Market Sentiment - Analysts are optimistic about SIBN's earnings prospects, as indicated by a positive trend in earnings estimate revisions, with five estimates moving higher and no negative revisions in the last 30 days, resulting in a 7.7% increase in the Zacks Consensus Estimate [11][12] - SIBN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13]