SANTA CLARA, Calif., July 15, 2024 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today announced it will report financial results for the second quarter of 2024 after market close on Monday, August 5, 2024. Management will host a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. SI-BONE (NASDAQ: SIBN)is a global leader in technology for surgical treatment of muscu ...

SANTA CLARA, Calif., June 05, 2024 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today announced that the company will be participating in the upcoming 2024 Truist Securities MedTech Conference in Boston. Management will be hosting a fireside chat on Tuesday, June 18, at 3:40 p.m. Eastern Time / 12:40 p.m. Pacific Time. iFuse Bedrock Granite, iFuse-TORQ, SI-BONE and iFuse INTRA are registered trademarks o ...

SANTA CLARA, Calif., June 05, 2024 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today announced that the company will be participating in the upcoming 2024 Truist Securities MedTech Conference in Boston. Management will be hosting a fireside chat on Tuesday, June 18, at 3:40 p.m. Eastern Time / 12:40 p.m. Pacific Time. Investors interested in listening to the conference call may do so by registering at t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38701 SI-BONE, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction o ...

Exhibit 99.1 SI-BONE, Inc. Reports Financial Results for the First Quarter 2024 Annual guidance increased to $164 million - $166 million, implying annual growth of ~18% - 20% SANTA CLARA, Calif. May 6, 2024 - SI-BONE, Inc. (Nasdaq:SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today reported financial results for the quarter ended March 31, 2024. First Quarter 2024 Financial Highlights (all comparisons are to the prior year period) Recent Operation ...

Financial Performance and Risks - The company has incurred significant operating losses since inception and expects to continue incurring losses in the future[12] - The company is highly dependent on revenue from the sale of a single family of products focused on sacroiliac joint stabilization, which could negatively affect financial results[12] - The company anticipates a significant portion of revenues will be derived from sales of the iFuse Implant System[16] - The company faces substantial risks and uncertainties that may cause actual results to differ materially from current expectations[18] Market and Competitive Environment - Prolonged inflation and supply chain disruptions could lead to delayed product launches, lost revenue, and decreased profit margins[12] - There is a risk of pricing pressure from competitors and changes in reimbursement policies that could impact revenue[12] - The company faces pricing pressure from competitors and changes in third-party coverage that may affect product sales[12] Product Development and Adoption - Future revenue growth is expected to come from new indications for use and additional product development[16] - If clinical trials for the iFuse Bedrock technique and related products do not show meaningful patient benefits, sales could be adversely impacted[12] - The company faces risks related to obtaining adequate coverage and reimbursement from third-party payors, which could hinder product adoption[12] - There is a risk that healthcare providers may not obtain adequate reimbursement for procedures using the company's products, potentially delaying adoption[12] Supply Chain and Regulatory Compliance - The company is dependent on a limited number of third-party suppliers, which poses risks to the supply chain and product availability[15] - The company relies on a limited number of third-party suppliers, and the loss of any of these suppliers could materially affect business operations[15] - The company must comply with extensive governmental regulations, and failure to do so could adversely affect operations[15] - The company must comply with extensive governmental regulations, and failure to do so could negatively impact business[15] Sales and Market Strategy - The company is focused on maintaining its sales team and training physicians to ensure continued demand for its products[16] - The company anticipates that market dynamics may shift procedures from hospitals to ambulatory surgical centers, affecting pricing strategies[12]

SI-BONE, Inc. (NASDAQ:SIBN) Q4 2023 Earnings Call Transcript February 26, 2024 4:30 PM ET Company Participants Saqib Iqbal - Senior Director of IR Laura Francis - CEO Anshul Maheshwari - CFO Conference Call Participants Craig Bijou - Bank of America Drew Ranieri - Morgan Stanley David Saxon - Needham & Company Sam Brodovsky - Truist Securities Caitlin Cronin - Canaccord Genuity Ross Osborn - Cantor Fitzgerald Operator Good afternoon and welcome to SI-BONE's Fourth Quarter 2023 Earnings Conference Call. At t ...

Financial Performance - Revenue for Q3 2023 was $34.014 million, a 28.8% increase from $26.432 million in Q3 2022[18] - Gross profit for Q3 2023 was $26.973 million, compared to $22.264 million in Q3 2022, reflecting a gross margin improvement[18] - Net loss for Q3 2023 was $10.022 million, an improvement from a net loss of $14.158 million in Q3 2022[18] - Net loss for the nine months ended September 30, 2023, was $32.353 million, a decrease from $50.081 million in the same period of 2022, representing a 35.3% improvement[25] - For the three months ended September 30, 2023, the net loss was $10,022,000, compared to a net loss of $14,158,000 for the same period in 2022, representing a 29.8% improvement[78] - The net loss per share, basic and diluted, improved to $0.25 in Q3 2023 from $0.41 in Q3 2022, indicating a 39.0% reduction in loss per share[78] Assets and Equity - Total current assets increased to $211.019 million as of September 30, 2023, up from $137.611 million at the end of 2022[16] - Total stockholders' equity rose to $173.600 million as of September 30, 2023, compared to $98.302 million at the end of 2022[16] - Cash and cash equivalents increased to $53.492 million as of September 30, 2023, compared to $20.717 million at the end of 2022[16] - Cash and cash equivalents at the end of the period were $53.492 million, up from $26.299 million at the end of September 2022, indicating a 103.5% increase[25] - Total stockholders' equity as of September 30, 2022, was $102.828 million, down from $134.420 million as of December 31, 2021, reflecting a decrease of 23.5%[22] Operating Expenses - Operating expenses for Q3 2023 were $38.142 million, up from $35.830 million in Q3 2022, driven by increased sales and marketing efforts[18] - Total stock-based compensation expense for the three months ended September 30, 2023, was $5,928,000, slightly up from $5,922,000 in Q3 2022[76] - Research and development expenses included $699,000 in stock-based compensation for Q3 2023, compared to $672,000 in Q3 2022, marking a 4.0% increase[76] Revenue Sources - Revenue from the United States was $32.3 million for the three months ended September 30, 2023, compared to $24.627 million in the same period of 2022, reflecting a growth of 31.3%[39] - International revenue accounted for less than 10% of total revenue, with $1.714 million for the three months ended September 30, 2023, down from $1.805 million in the same period of 2022[39] Product Development and Strategy - The company expects to continue diversifying its product mix and developing new revenue opportunities[11] - The company is focused on retaining and growing its sales team to meet product demand[11] - The company introduced new products including the iFuse Bedrock Granite in 2022, expanding its product line for minimally invasive surgical implants[27] Cash Flow and Financing - The company raised $83.671 million in net proceeds from a public offering of 3,775,000 shares at a price of $22.00 per share in May 2023[28] - The company reported a net cash used in operating activities of $16.416 million for the nine months ended September 30, 2023, an improvement from $34.880 million in the same period of 2022[25] - Future results may be impacted by macroeconomic factors, with uncertainties regarding liquidity and access to funding for capital needs[30] Marketable Securities and Debt - Total marketable securities as of September 30, 2023, amounted to $152.021 million, up from $84.575 million as of December 31, 2022[43] - As of September 30, 2023, the company's outstanding debt from the term loan was $36.0 million, an increase from $35.0 million as of December 31, 2022[60] - The effective interest rate for the First-Citizens Term Loan was 9.3% for the three months ended September 30, 2023, compared to 8.3% for the same period in 2022[64] Stock Options and Compensation - The company granted 1,204,086 RSUs with an average grant date fair value of $16.85 during the nine months ended September 30, 2023[72] - The company had outstanding stock options totaling 1,216,841 shares as of September 30, 2023, with a weighted average exercise price of $10.84[67] - The total outstanding common stock warrants decreased from 118,122 as of December 31, 2022, to 85,139 as of September 30, 2023, due to the exercise of warrants[77] - The total stock options outstanding decreased from 1,921,065 in Q3 2022 to 1,216,841 in Q3 2023, reflecting a 36.6% reduction[80] Credit Quality and Risks - The allowance for credit losses increased to $750,000 as of September 30, 2023, from $400,000 at the end of 2022, indicating a provision of $352,000 during the period[51] - The company did not recognize any credit losses related to its investments during the nine months ended September 30, 2023, indicating stable credit quality[43] - The company has not experienced any losses on its deposits of cash, cash equivalents, and marketable securities despite the closure of Silicon Valley Bank[29] - The company anticipates challenges related to supply chain management and regulatory compliance impacting future performance[14]

Financial Data and Key Metrics Changes - In Q3 2023, the company generated worldwide revenue of $34 million, a 29% increase compared to Q3 2022, with U.S. revenue reaching $32.3 million, reflecting a 31% growth year-over-year [11][38] - The adjusted EBITDA loss improved by 44% to $3.9 million from $6.9 million in the prior year, indicating a positive trend towards profitability [44] - The net loss for the quarter was $10 million, or $0.25 per diluted share, compared to a net loss of $14.2 million, or $0.41 per diluted share in the previous year, representing a 29% reduction in net loss [43] Business Line Data and Key Metrics Changes - The number of active U.S. surgeons exceeded 1,000 for the first time, with nearly 3,900 procedures performed in Q3 2023, marking a 30% growth in active surgeons compared to Q3 2022 [12][18] - U.S. procedure volume grew by approximately 34%, continuing a trend of over 30% growth for four consecutive quarters [38] - The average revenue per U.S. territory reached over $1.5 million, representing a 38% productivity gain over the previous year [17] Market Data and Key Metrics Changes - International revenue was $1.7 million, remaining nearly flat, with strong performance noted in France and improvements in the U.K. [39] - The company is focusing on revitalizing growth in Germany and the rest of Europe through expanded surgeon engagement [40] Company Strategy and Development Direction - The company aims to capitalize on a market opportunity of nearly 500,000 annual procedures, positioning itself for sustained revenue growth [13] - Investments in R&D and clinical research are prioritized to support long-term growth and progress towards breakeven [42] - The company is expanding its product portfolio and surgeon base, with a hybrid sales strategy that combines direct sales teams and third-party agents [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business, citing record revenue and strong demand for their solutions despite industry seasonality [10] - The updated 2023 revenue growth guidance is set at 28% to 29%, reflecting strong performance and momentum [13][47] - Management noted that the trajectory of cash utilization has improved significantly, with cash used in operating activities down 53% year-to-date compared to the previous year [45] Other Important Information - The company has achieved a significant milestone with the introduction of new products like iFuse-TORQ and iFuse Bedrock Granite, which are expected to drive future growth [22][27] - The company has extended its patents on key products, enhancing its competitive position in the market [113] Q&A Session Summary Question: Can you quantify the impact of GLP-1 therapy on demand? - Management indicated that while there is potential for increased surgery-ready patients due to GLP-1 therapy, they do not foresee a significant downside risk to demand for their products [50][58] Question: What is the outlook for Q4 and 2024? - Management expressed optimism for Q4, citing strong demand trends and a record number of active surgeons, while guidance for 2024 will be provided in the next earnings announcement [62][64] Question: How is utilization holding up with the increase in active surgeons? - Management noted that utilization remains consistent, with an increase in active surgeons contributing to a stable number of procedures per surgeon [100] Question: What is the trend for gross margin and operating expenses? - Management stated that gross margin is expected to be around 80% for the year, with operating expenses growing mid-single digits, reflecting ongoing investments in growth [47][89]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) (State or Other Jurisdiction of Incorporation or Organization) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38701 SI-BONE, INC. (Exact Name of Registrant as Specified in its Charter) 471 El Camino Real, Suite 101, Santa Clara, California 95050 (Address of principal executive offices) ( ...