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, 2022 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 ...

SI-BONE, Inc. (NASDAQ:SIBN) Q1 2022 Earnings Conference Call May 9, 2022 4:30 PM ET Company Participants Matt Basco - IR, Gilmartin Group Laura Francis - Chief Executive Officer Anshul Maheshwari - Chief Financial Officer Conference Call Participants Craig Bijou - Bank of America Drew Ranieri - Morgan Stanley Gibran Ahmed - Canaccord David Rescott - Truist Securities David Saxon - Needham Ross Osborn - Cantor Fitzgerald Operator Good afternoon and welcome to SI-BONE's First Quarter Earnings Conference Call. ...

SI-BONE 1 Corporate Overview May 2022 Safe Harbor Statement This presentation contains "forward-looking statements," which are statements related to events, results, activities or developments that SI-BONE expects, believes or anticipates will or may occur in the future. Forward-looking often contain words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions th ...

SI-BONE 1 Corporate Overview February 2022 Safe Harbor Statement This presentation contains "forward-looking statements," which are statements related to events, results, activities or developments that SI-BONE expects, believes or anticipates will or may occur in the future. Forward-looking often contain words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 of incorporation or organizat ...

SI-BONE, Inc. (NASDAQ:SIBN) Q4 2021 Earnings Conference Call February 28, 2022 4:30 PM ET Company Participants Matt Basco - IR, Gilmartin Group Laura Francis - Chief Executive Officer Anshul Maheshwari - Chief Financial Officer Conference Call Participants Craig Bijou - Bank of America Kyle Rose - Canaccord David Rescott - Truist Securities David Saxon - Needham Drew Ranieri - Morgan Stanley Dave Turkaly - JMP Securities Disclaimer*: This transcript is designed to be used alongside the freely available audi ...

Market Opportunity & Leadership - The company addresses a large market with a $2.5 billion annual U S opportunity[7] - The company has pioneered sacropelvic surgical solutions, with approximately 65,000 procedures performed worldwide using iFuse Technology[7, 21, 82] - The company estimates a majority U S market share with iFuse[7] Clinical & Technological Advantages - The company has over 35 exclusive payor policies and approximately 160 million U S exclusive covered lives[7, 8, 21, 68, 82] - The company's iFuse demonstrates 6x resistance compared to SI screws[33] - The company's iFuse demonstrates 3x strength compared to standard 8 0mm cannulated screws[33] - The company's iFuse-3D shows 57-point improvement in VAS Pain Reduction and 25-point improvement in ODI Disability[47] Financial Performance & Growth - The company anticipates record FY21 revenue of $89 8 - $90 1 million, representing a year-over-year growth of 22-23%[63, 70, 75] - The company maintains a strong annual gross margin between 87% and 89%[61, 71] - The company has approximately $146 million in cash and equivalents as of December 31, 2021[75]

[PART I-FINANCIAL INFORMATION](index=5&type=section&id=PART%20I-FINANCIAL%20INFORMATION) [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2021, highlighting revenue growth alongside a widening net loss Condensed Consolidated Balance Sheet Data (Unaudited) | (In thousands) | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $59,863 | $53,581 | | Short-term investments | $100,988 | $142,851 | | Total current assets | $185,648 | $218,241 | | TOTAL ASSETS | $193,966 | $223,142 | | **Liabilities & Equity** | | | | Total current liabilities | $14,564 | $13,470 | | Long-term borrowings | $34,922 | $39,455 | | TOTAL LIABILITIES | $50,348 | $53,779 | | TOTAL STOCKHOLDERS' EQUITY | $143,618 | $169,363 | Condensed Consolidated Statements of Operations Data (Unaudited) | (In thousands, except per share data) | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $22,286 | $20,373 | $64,922 | $51,243 | | Gross profit | $19,808 | $17,795 | $57,869 | $44,616 | | Loss from operations | $(13,199) | $(8,675) | $(37,739) | $(30,696) | | Net loss | $(15,872) | $(9,474) | $(42,095) | $(34,718) | | Net loss per share, basic and diluted | $(0.48) | $(0.33) | $(1.28) | $(1.23) | Condensed Consolidated Statements of Cash Flows Data (Unaudited) | (In thousands) | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(26,819) | $(22,780) | | Net cash provided by investing activities | $36,202 | $4,903 | | Net cash provided by (used in) financing activities | $(2,726) | $63,363 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, noting revenue growth despite COVID-19 impacts, increased operating expenses, and a debt refinancing to improve liquidity - The resurgence of the COVID-19 pandemic driven by the Delta variant negatively impacted revenues for the three months ended September 30, 2021, with increased case cancellations recorded in August and September 2021[88](index=88&type=chunk) - The U.S. sales force expanded to **78 territory sales managers** and **57 clinical support specialists** as of September 30, 2021, up from 59 and 57, respectively, a year prior[95](index=95&type=chunk) - Major payors, including Centene, Anthem, and UnitedHealthcare, established or expanded positive coverage for iFuse, with UnitedHealthcare's policy exclusively covering SI-BONE's triangular iFuse implants effective October 1, 2021[102](index=102&type=chunk) Revenue Comparison (Q3 2021 vs Q3 2020) | (In thousands) | Q3 2021 | Q3 2020 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $22,286 | $20,373 | $1,913 | 9% | | Gross Profit | $19,808 | $17,795 | $2,013 | 11% | Operating Expense Comparison (Q3 2021 vs Q3 2020) | (In thousands) | Q3 2021 | Q3 2020 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Sales and marketing | $23,525 | $18,772 | $4,753 | 25% | | Research and development | $3,288 | $2,778 | $510 | 18% | | General and administrative | $6,194 | $4,920 | $1,274 | 26% | - In August 2021, the company refinanced its debt, terminating the Solar Term Loan and entering a new **$35.0 million term loan** with Silicon Valley Bank, resulting in a **one-time loss on extinguishment of $1.8 million** but providing a lower interest rate[123](index=123&type=chunk)[137](index=137&type=chunk)[139](index=139&type=chunk) - As of September 30, 2021, the company had **cash and marketable securities of $160.9 million** and believes this is sufficient to fund operations and capital expenditures for at least the next 12 months[134](index=134&type=chunk)[136](index=136&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "smaller reporting company," the company is exempt from providing quantitative and qualitative disclosures about market risk - As a "smaller reporting company," SI-BONE is not required to provide the information otherwise required by this Item[155](index=155&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal controls during the quarter - Based on an evaluation as of September 30, 2021, the CEO and CFO concluded that the company's disclosure controls and procedures were effective at the reasonable assurance level[158](index=158&type=chunk) - There were no changes in internal control over financial reporting during the quarter ended September 30, 2021, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[159](index=159&type=chunk) [PART II-OTHER INFORMATION](index=38&type=section&id=PART%20II-OTHER%20INFORMATION) [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal actions but currently believes no pending matters are material to its financial condition or operations - The company is involved in various claims, complaints, and legal actions in the normal course of business, but there are no pending matters currently believed to be material[160](index=160&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) This section details significant business risks, including historical operating losses, COVID-19 impacts, reimbursement dependency, intense competition, reliance on the iFuse product, supply chain vulnerabilities, and extensive regulatory compliance - The company has a history of significant operating losses, with a **net loss of $42.1 million** for the nine months ended September 30, 2021, and expects to continue incurring losses[165](index=165&type=chunk) - The COVID-19 pandemic has had, and is expected to continue to have, an adverse impact on operations, including unpredictable reductions in demand for products and delays in elective surgeries[169](index=169&type=chunk) - The business is highly dependent on adequate coverage and reimbursement from third-party payors, and a reversal of exclusive iFuse coverage decisions could reduce market share[173](index=173&type=chunk)[181](index=181&type=chunk) - The company faces intense competition from major medical device companies like Medtronic and Globus Medical, as well as over 20 smaller companies, leading to significant pricing pressure[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk) - Substantially all revenue comes from the iFuse product family, making the company highly dependent on the success of this single product line[198](index=198&type=chunk) - The company relies on a limited number of third-party suppliers, some of which are single-source, for its products and components, exposing it to supply chain risks[211](index=211&type=chunk) - The business is subject to extensive and stringent governmental regulation in the U.S. (FDA) and abroad (e.g., EU Medical Device Regulation), and non-compliance could result in significant penalties and business disruption[244](index=244&type=chunk)[254](index=254&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=85&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered equity sales in Q3 2021 and details the use of **$104.1 million** from its 2018 IPO for general corporate purposes - There were no sales of unregistered equity securities during the three months ended September 30, 2021[337](index=337&type=chunk) - As of September 30, 2021, approximately **$104.1 million** of the net proceeds from the October 2018 IPO had been used for general corporate purposes[340](index=340&type=chunk) [Defaults Upon Senior Securities](index=85&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon its senior securities - None[341](index=341&type=chunk) [Mine Safety Disclosures](index=85&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[342](index=342&type=chunk) [Other Information](index=85&type=section&id=Item%205.%20Other%20Information) On October 20, 2021, the company amended Executive Chairman Jeffery Dunn's employment and severance agreement, modifying change-of-control benefits and the definition of "Good Reason" - On October 20, 2021, the company entered into a Second Amendment to the Offer Letter Agreement and Severance Plan Participation Agreement with Jeffery Dunn, its Executive Chairman[343](index=343&type=chunk) - The amendment modifies Mr. Dunn's entitlement to severance benefits upon a Change in Control and alters the definition of "Good Reason" for termination[343](index=343&type=chunk) [Exhibits](index=86&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the Loan and Security Agreement, an employment agreement amendment, and required officer certifications - Lists exhibits filed with the report, including the Loan and Security Agreement with Silicon Valley Bank (Exhibit 10.1) and the Second Amendment to Jeffery Dunn's employment agreement (Exhibit 10.2)[346](index=346&type=chunk) - Includes certifications from the CEO and CFO as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[346](index=346&type=chunk)

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SI-BONE, Inc. (NASDAQ:SIBN) Q3 2021 Earnings Conference Call November 8, 2021 4:30 PM ET Company Participants Matt Bacso – Gilmartin Group Laura Francis – Chief Executive Officer Anshul Maheshwari – Chief Financial Officer Conference Call Participants Brandon Folkes – Cantor Fitzgerald Drew Ranieri – Morgan Stanley Craig Bijou – Bank of America David Saxon – Needham David Rescott – Truist Securities Dave Turkaly – JMP Securities Kyle Rose – Canaccord Operator Good afternoon, and welcome to SI-BONE Third Qua ...