Achieved record 2025 revenue of $201 million, driven by a 22% increase in U.S. physician adoption and expanded utilization across the sacropelvic platform. Transitioned to a sustainable financial profile, delivering the first full year of positive adjusted EBITDA and reaching positive free cash flow in the fourth quarter. Leveraged a hybrid sales model to drive territory productivity to $2.1 million per manager, an 18% year-over-year increase. Strengthened market leadership in the thoracolumbar spac ...

Profitability improved as the company delivered its first full year of positive Adjusted EBITDA. Gross margin was 79% in the fourth quarter and 79.6% for the full year, with Maheshwari noting the full-year gross margin came in about 200 basis points above the company’s original 2025 guidance. He attributed the outperformance to stable average selling prices from favorable procedure mix and to operational initiatives such as supply chain efficiency and cost optimization.For the full year 2025, worldwide reve ...

SI-BONE (NasdaqGM:SIBN) Q4 2025 Earnings call February 23, 2026 04:30 PM ET Company ParticipantsAnshul Maheshwari - CFO and COOCaitlin Roberts - Director of MedTech Equity ResearchDavid Saxon - Managing DirectorLaura Francis - CEOMathew Blackman - Managing DirectorPatrick Wood - Managing DirectorSaqib Iqbal - VP of FP&A and Investor RelationsTravis Steed - Managing DirectorConference Call ParticipantsNone - AnalystNone - AnalystOperatorGood afternoon, and welcome to SI-BONE's fourth quarter 2025 earnings co ...

SI-BONE (NasdaqGM:SIBN) Q4 2025 Earnings call February 23, 2026 04:30 PM ET Company ParticipantsAnshul Maheshwari - CFO and COOCaitlin Roberts - Director of MedTech Equity ResearchDavid Saxon - Managing DirectorLaura Francis - CEOMathew Blackman - Managing DirectorPatrick Wood - Managing DirectorSaqib Iqbal - VP of FP&A and Investor RelationsTravis Steed - Managing DirectorConference Call ParticipantsNone - AnalystNone - AnalystOperatorGood afternoon, and welcome to SI-BONE's Fourth Quarter 2025 Earnings Co ...

SI-BONE (NasdaqGM:SIBN) Q4 2025 Earnings call February 23, 2026 04:30 PM ET Speaker5Good afternoon, and welcome to SI-BONE's fourth quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. We will be facilitating a question and answer session towards the end of today's call. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Saqib Iqbal, Vice President, FP&A, and Investor Relations at SI-BONE, for a few introductory ...

SI-BONE Corporate Overview Recent Highlights – Record Performance Fourth Quarter 2025 Fiscal Year 2025 Note: Financial As of February 18, 2026 February 2026 Forward-Looking Statements 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 signific ...

Trauma and Extremities partnership aligns disciplined approach to portfolio optimization and focuses on delivering long-term value for surgeons and patients Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today announced it has signed a distribution agreement with SI-BONE, focused on their innovative iFuse TORQ portfolio. This collaboration expands the Smith+Nephew portfolio offerings for percutaneous pelvic fracture fixation procedures and strengthens our position in high-frequency ...

Achieves 20% worldwide revenue growth and positive adjusted EBITDA for Fiscal Year 2025Generates free cash flow in the Fourth Quarter 2025 SANTA CLARA, Calif., Feb. 23, 2026 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), the global leader in developing procedural solutions to address clinical challenges associated with compromised bone, today reported financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Financial Highlights (all comparisons are to the prior ...

Financial Data and Key Metrics Changes - Worldwide revenue reached $48.7 million in Q3 2025, representing approximately 21% growth year-over-year [4][19] - U.S. revenue grew over 21% to $46.4 million, driven by a procedure volume growth of over 22% [4][19] - Positive adjusted EBITDA of $2.3 million for the quarter, translating to an adjusted EBITDA margin of approximately 5% [6][22] - Gross profit was $38.8 million, an increase of 21.8% year-over-year, with a gross margin of 79.8% [20][21] Business Line Data and Key Metrics Changes - The launch of iFuse TORQUE contributed to notable international revenue growth, with international revenue at $2.3 million, representing 10.2% growth [19] - Double-digit volume growth was observed across all modalities, with a record number of physicians added in the quarter [5][6] - The number of physicians performing procedures using the company's solutions increased by 27% year-over-year, with 1,530 active physicians [14][70] Market Data and Key Metrics Changes - The company anticipates that the finalized 17% increase in reimbursement for office-based SI joint procedures will benefit its interventional business [8] - The new technology add-on payment (NTAP) of over $4,100 represents up to a 30% increase in hospital reimbursement for pelvic fracture fixation in Medicare patients [12][88] Company Strategy and Development Direction - The company is focused on innovation, physician engagement, commercial execution, and operational excellence as key priorities [7][17] - Plans to launch new products in 2026, including a next-generation technology aimed at optimizing physician workflow [9][11] - The company aims to expand its addressable market by developing solutions for compromised bone, leveraging its expertise in sacro-pelvic anatomy [14][76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining strong top-line growth and expanding margins, driven by substantial adoption of current products and a promising pipeline [25][41] - The company is optimistic about achieving positive free cash flow in 2026, supported by improved profitability and cash flow from operating activities [23][46] Other Important Information - The company achieved its second consecutive quarter of net cash flow breakeven, ending the quarter with $145.7 million in cash and marketable securities [22][23] - The company has a significant pipeline of novel technologies under development, with expectations to launch several solutions over the next five years [14][78] Q&A Session Summary Question: Discussion on physician density and operating leverage - Management highlighted the importance of physician density and the opportunity to increase procedure types among existing surgeons, with a focus on leveraging the expanded product platform [29][30][32] Question: Guidance update and momentum in Q4 - Management raised the full-year revenue guidance to $198 million-$200 million, citing strong performance and physician growth trends as indicators of continued momentum [38][42][44] Question: Cash burn expectations for the rest of the year - Management indicated expectations of some cash usage in Q4 due to investments in surgical capacity and new product preparations, but expressed confidence in achieving free cash flow in 2026 [46][47] Question: Trends in gross margins and ASP - Management noted that gross margins are expected to stabilize around 78%-78.5%, with ASP remaining stable despite some modest impacts from procedure mix [55][56] Question: TNT and NTAP adoption trends - Management expressed excitement about the NTAP's potential to drive TNT adoption, with ongoing interest from national distributors to expand access to the technology [88][90]

Financial Data and Key Metrics Changes - Worldwide revenue reached $48.7 million in Q3 2025, representing approximately 21% growth year-over-year [4][17] - U.S. revenue grew over 21% to $46.4 million, driven by increased adoption of solutions [4][17] - Positive adjusted EBITDA of $2.3 million for the quarter, translating to an adjusted EBITDA margin of approximately 5% [5][19] - Gross profit was $38.8 million, an increase of $6.9 million or 21.8%, with a gross margin of 79.8% [17][18] - Net loss narrowed to $4.6 million, or $0.11 per diluted share, compared to a net loss of $6.6 million, or $0.16 per diluted share [18][19] Business Line Data and Key Metrics Changes - The flagship solutions continue to perform well in a large, under-penetrated market, with double-digit volume growth across all modalities [5][6] - The interventional case volume doubled compared to Q3 2024, indicating strong adoption of clinically validated solutions [7] - The number of procedures using more than two Granite implants per case grew approximately 40% in the quarter [9] Market Data and Key Metrics Changes - International revenue in Q3 was $2.3 million, representing 10.2% growth, with expectations for acceleration in 2026 due to the launch of iFuse TORQUE [17][18] - The company added 330 physicians in the quarter, marking a 27% year-over-year increase in active physicians [12][48] Company Strategy and Development Direction - The company aims to expand its addressable market by adding new applications of technology and expertise, focusing on compromised bone [22][23] - Plans to launch several innovative solutions over the next five years to address poor bone quality [12][54] - The company is focused on operational excellence, with a disciplined pricing strategy and ongoing supply chain optimization initiatives [18][19] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining strong top-line growth, expanding margins, and achieving positive free cash flow in 2026 [22][34] - The company anticipates continued physician engagement and adoption trends, with a significant opportunity to increase procedure density [12][15] - Management highlighted the importance of favorable reimbursement changes and the potential for new product launches to drive growth [37][61] Other Important Information - The company achieved its second consecutive quarter of net cash flow breakeven, ending the quarter with $145.7 million in cash and marketable securities [20][21] - The company is actively pursuing regulatory clearance to commercialize additional products across several international markets [17][56] Q&A Session Summary Question: Discussion on physician density and operating leverage - Management emphasized the importance of physician density and the opportunity to grow by increasing the use of technology across different procedure types [24][25] - Operating leverage is expected to range between 1.25-1.75 times, with a focus on delivering strong top-line growth [27][28] Question: Guidance update and momentum in Q4 - Management raised the full-year revenue guidance to $198 million-$200 million, reflecting continued outperformance and strong momentum heading into Q4 [30][32] Question: Trends in cash burn expectations - Management expects to use some cash in Q4 for building surgical capacity but remains confident in achieving free cash flow in 2026 [34] Question: Insights on TNT and NTAP adoption - Management expressed excitement about the NTAP, which represents a significant reimbursement improvement, and noted strong interest from national distributors for TNT [57][59] Question: Long-term profitability and operating leverage - Management highlighted the unique business model that allows for high ASP and operating leverage, with expectations for margin expansion as new products contribute to revenue [61][62]