Core Insights - The company achieved its first full year of positive Adjusted EBITDA, with a gross margin of 79% in Q4 and 79.6% for the full year, exceeding its 2025 guidance by approximately 200 basis points [1][7] Financial Performance - For the full year 2025, worldwide revenue reached $200.9 million, marking a 20.2% increase, with U.S. revenue growing by 20.6% to $191.1 million due to a 22% rise in procedure volume [2] - In Q4 2025, the company reported worldwide revenue of $56.3 million, a 15% year-over-year increase, with U.S. revenue at $53.5 million (up 13.9%) and international revenue growing 38.8% to $2.9 million [3][7] - The net loss narrowed to $1.6 million in Q4, compared to a $4.5 million loss in the prior year, and for the full year, the net loss decreased by 38.8% to $18.9 million [8] Operational Highlights - The company reported a significant increase in physician adoption, with a 22% rise in U.S. physicians using its technologies, totaling nearly 22,000 procedures in 2025 [5][11] - In Q4 alone, 1,640 physicians performed procedures using the company's solutions, marking an 18% growth compared to the previous year [12] - The company ended the year with 89 quota-carrying territory managers, achieving an annual revenue per territory of $2.1 million, an 18% increase year-over-year [13] Reimbursement and Product Developments - Management highlighted key reimbursement milestones, including a 17% increase in Medicare reimbursement for office-based lab SI joint fusion, bringing it to nearly $14,000 [6][15] - The company received FDA 510(k) clearance for INTRA Ti and initiated an alpha launch, with expectations for adoption to ramp up through 2026 [16] - iFuse TORQ TNT saw a 50% increase in physician adoption in Q4, with NTAP reimbursement potentially being up to 30% higher in eligible cases [17] Future Guidance - For 2026, the company guided worldwide revenue between $228.5 million and $232.5 million, implying a growth rate of 14% to 16% [19] - The expected gross margin for 2026 is approximately 78%, with operating expenses anticipated to grow due to investments in surgical capacity [20] Strategic Partnerships - The company formed a strategic partnership with Smith+Nephew to enhance its reach in pelvic trauma, particularly in level 1 and level 2 trauma centers [21]

Core Insights - SI-BONE, Inc. achieved a 20% worldwide revenue growth and positive adjusted EBITDA for Fiscal Year 2025, indicating strong business performance and operational efficiency [1][4][10] - The company generated free cash flow in the Fourth Quarter of 2025, reflecting improved financial health [1][7] Financial Highlights - Fourth Quarter 2025 worldwide revenue was $56.3 million, a 15.0% increase from $49.0 million in the same period of 2024 [5][7] - U.S. revenue for the fourth quarter was $53.5 million, up 13.9% from $46.9 million in the prior year [5][7] - International revenue for the fourth quarter reached $2.9 million, a significant increase of 38.8% from $2.1 million in the previous year [5][7] - Gross profit for the fourth quarter was $44.5 million, a 14.8% increase from $38.8 million in the corresponding period in 2024, with a stable gross margin of 79.0% [6][7] Annual Performance - For Fiscal Year 2025, worldwide revenue totaled $200.9 million, representing a 20.2% increase from $167.2 million in 2024 [10][12] - U.S. revenue for the year was $191.1 million, a 20.6% increase from $158.4 million in 2024 [10][12] - International revenue was $9.8 million, a 12.4% increase from $8.8 million in the previous year [10] Profitability Metrics - The company reported a net loss of $1.6 million in the fourth quarter, an improvement of 63.3% compared to a net loss of $4.5 million in the same period in 2024 [9][12] - Adjusted EBITDA for the fourth quarter was positive at $5.1 million, representing a 176.2% improvement from $1.9 million in the prior year [9][12] - For the full year, the net loss improved by 38.8% to $18.9 million, or $0.44 per diluted share, compared to a net loss of $30.9 million, or $0.75 per diluted share in 2024 [12] Operational Developments - Approximately 1,640 U.S. physicians performed procedures using SI-BONE's products in the fourth quarter, marking an 18% increase [7] - The company entered into a strategic partnership with Smith+Nephew to distribute its products across trauma centers nationwide [7] - SI-BONE expanded its INTRA platform with the launch of INTRA Ti, enhancing procedural flexibility for physicians [7] Future Outlook - For 2026, SI-BONE expects worldwide revenue to be between $228.5 million and $232.5 million, indicating a year-over-year growth of approximately 14% to 16% [13] - The company anticipates a gross margin of around 78% and operating expenses growth of approximately 12.5% at the midpoint of the revenue guidance [13]

The statements in this presentation regarding expectations of future events or results, including SI-BONE's expectations of continued revenue and procedure growth and financial outlook, are "forward-looking" statements. These forward-looking statements are based on SI-BONE's current expectations and inherently involve significant risks and uncertainties. These risks include SI-BONE's ability to introduce and commercialize new products and indications, SI-BONE's ability to maintain favorable reimbursement fo ...

Core Insights - SI-BONE, Inc. reported a strong financial performance in Q3 2025, with worldwide revenue growth of approximately 21% and a positive adjusted EBITDA margin of $2.3 million, indicating robust demand for its medical devices [1][7][8]. Financial Performance - Worldwide revenue reached $48.7 million, a 20.6% increase from $40.3 million in Q3 2024 [4][8]. - U.S. revenue was $46.4 million, reflecting a 21.2% increase from $38.3 million in the same period last year, driven by strong procedure demand [4][8]. - International revenue was $2.3 million, a 10.2% increase from $2.1 million in Q3 2024, attributed to the successful launch of the TORQ product in European markets [4][8]. Profitability Metrics - Gross profit for the quarter was $38.8 million, up 21.8% from $31.9 million in Q3 2024, with a gross margin of 79.8%, an improvement of 75 basis points year-over-year [5][8]. - Operating expenses increased by 11.9% to $44.2 million, primarily due to higher commercial activities and new product rollouts [6][8]. - The operating loss improved by 29.5% to $5.4 million compared to a loss of $7.6 million in Q3 2024 [6][8]. Net Loss and Cash Flow - The net loss for the quarter was $4.6 million, or $0.11 per diluted share, an improvement of 30.6% from a net loss of $6.6 million, or $0.16 per diluted share, in Q3 2024 [7][8]. - Positive cash from operating activities was reported at $2.3 million, indicating effective cash management [8]. Guidance and Future Outlook - For fiscal 2025, SI-BONE expects worldwide revenue to be between $198 million and $200 million, representing year-over-year growth of approximately 18% to 20% [10][11]. - The company anticipates a gross margin of around 79.5% for the full year 2025, reflecting continued operational efficiency [10][11]. Operational Highlights - The number of active U.S. physicians increased by 27% to 1,530, indicating growing adoption of SI-BONE's technologies [8]. - The trailing 12-month average revenue per territory rose by 16% to $2.1 million, showcasing improved sales performance [8].

Financial Performance - SI-BONE achieved 21.7% worldwide revenue growth, reaching $48.6 million in the second quarter of 2025[8] - U S revenue grew by 22.8% to $46.4 million in the second quarter of 2025[8] - The company reported a gross margin of 79.8%, an improvement of 80 basis points[8] - Adjusted EBITDA was positive at $1.0 million, marking the third consecutive quarter of positive AEBITDA[8, 16] - The company generated $1.1 million in net cash[8] - SI-BONE has $145.5 million in cash and equivalents[17] Market and Physician Engagement - U S active physicians increased by 25%[8, 10] - The company has experienced 18 consecutive quarters of double-digit U S active physician growth[13] Guidance and Future Opportunity - SI-BONE updated its 2025 worldwide revenue guidance to $195 - $198 million, implying a growth of approximately 17%-18% year-over-year[21] - The company estimates a total U S addressable market opportunity of over $3.5 billion[23, 31] - iFuse TORQ TNT received NTAP with payment of $4,136[8, 59]

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]

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]

Company Overview - SI-BONE, Inc. is a medical device company focused on addressing sacropelvic disorders and is recognized as a global leader in developing surgical technologies for these conditions [3] - The company pioneered minimally invasive SI joint surgery in 2009 and has supported over 4,500 physicians in performing more than 120,000 procedures [3] - SI-BONE has established a strong clinical evidence base, including two randomized controlled trials and over 160 peer-reviewed publications [3] Upcoming Event - SI-BONE will participate in the 2025 BofA Securities Healthcare Conference in Las Vegas, with a fireside chat scheduled for May 13, 2025, at 8:40 a.m. Pacific Time [1] - Investors can listen to the conference call by registering online, and a live audio webcast will be available on the company's website [2]

Financial Performance - SI-BONE achieved a worldwide revenue growth of 24.9% reaching $47.3 million in 1Q25[8] - U S revenue grew by 26.6% to $44.8 million in 1Q25[8] - The company reported a gross margin of 79.7%, an improvement of 80 basis points[8] - Adjusted EBITDA turned positive at $0.5 million, a 112% year-over-year improvement[8, 15] - The company expects to have $144.4 million in cash and equivalents[16] Physician Engagement and Procedure Volume - SI-BONE added a record 300 U S physicians in 1Q25[6] - There was a 27.1% growth in U S active physicians[8] - U S procedure volume increased by approximately 27% from 4,000 in 1Q24 to 5,100 in 1Q25[10] - The U S active physician base grew by approximately 27% from 1,100 in 1Q24 to 1,400 in 1Q25[12] Product and Market Opportunity - The company is developing a third breakthrough-designated device, iFuse TORQ TNT[6] - SI-BONE is pursuing a proposed New Technology Add-On Payment (NTAP) of $3,960 for iFuse TORQ TNT[6] - The total U S addressable market for SI-BONE's products is estimated to be over $3.5 billion, with less than 10% currently penetrated[21, 29] Future Outlook - The company updated its 2025 worldwide revenue guidance to $193.5 - $197.5 million, implying a growth of approximately 16%-18%[19, 20]

Financial Performance - SI-BONE achieved a worldwide revenue growth of 24.9% reaching $47.3 million in 1Q25[8] - U S revenue grew by 26.6% to $44.8 million in 1Q25[8] - The company reported a gross margin of 79.7%, an improvement of 80 basis points[8] - Adjusted EBITDA turned positive at $0.5 million, a 112% year-over-year improvement[8, 15] - The company expects to have $144.4 million in cash and equivalents[16] Physician Engagement and Procedure Volume - SI-BONE added a record 300 U S physicians in 1Q25[6] - There was a 27.1% growth in U S active physicians[8] - U S procedure volume increased by approximately 27% from 4,000 in 1Q24 to 5,100 in 1Q25[10] - The U S active physician base grew by approximately 27% from 1,100 in 1Q24 to 1,400 in 1Q25[12] Product and Market Opportunity - The company is developing a third breakthrough-designated device, iFuse TORQ TNT[6] - SI-BONE is pursuing a proposed New Technology Add-On Payment (NTAP) of $3,960 for iFuse TORQ TNT[6] - The total U S addressable market for SI-BONE's products is estimated to be over $3.5 billion, with less than 10% currently penetrated[21, 29] Future Outlook - The company updated its 2025 worldwide revenue guidance to $193.5 - $197.5 million, implying a growth of approximately 16%-18%[19, 20]