SI-BONE
Builds iFuse implants for sacroiliac fusion, adult deformity, and pelvic trauma.
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Profile
Sells iFuse implants, instruments, and implantable bone products for sacropelvic surgery. Revenue is concentrated in the United States, with one reportable segment and adoption shaped by physician training, clinical evidence, reimbursement, and regulatory clearances.
Designs and commercializes titanium implants, instruments, and implantable bone products for surgical treatment of sacropelvic musculoskeletal disorders. The iFuse platform spans sacroiliac joint dysfunction, adult spinal deformity, spinopelvic fixation, and pelvic trauma applications.
Operates through one reportable segment, with revenue concentrated in the United States and a smaller international presence served through direct sales, agents, and resellers. The sales model depends on physician adoption of procedures and product families.
Competes with larger spine and orthopedics companies while building evidence around newer iFuse products. Reimbursement coverage, regulatory clearances, and clinical evidence shape how quickly hospitals and surgeons adopt the portfolio.
Company facts
Categories
Key statistics
Year to date −3.0% · Average volume (30d) 524.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 4, 2026 | UBS | Reiterate | Buy | $24 | $25 |
| Jul 28, 2026 | UBS | Initiate | Buy | $24 | |
| Jul 16, 2026 | Truist Financial | Target | $24 | $21 | |
| Feb 24, 2026 | Truist Financial | Target | $23 | $24 | |
| Dec 18, 2025 | Truist Financial | Target | $20 | $23 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | −$0.15 | −$0.09 | +39.8% | $55.3M | $56.0M | +1.2% | −0.05% |
| May 11, 2026Q1 FY26 | −$0.17 | −$0.10 | +41.2% | $51.2M | $52.6M | +2.8% | +19.72% |
| Feb 23, 2026Q4 FY25 | −$0.13 | −$0.04 | +69.2% | $55.4M | $56.4M | +1.7% | −2.11% |
| Nov 10, 2025Q3 FY25 | −$0.16 | −$0.11 | +31.3% | $56.3M | $48.7M | −13.5% | +16.20% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $47.3M | $48.6M | $48.7M | $56.4M | $52.6M | $56.0M | |
| Gross profit | $37.7M | $38.8M | $38.8M | $44.5M | $41.9M | $44.5M | |
| Operating income | −$7.5M | −$7.0M | −$5.4M | −$2.5M | −$5.1M | −$4.8M | |
| Net income | −$6.5M | −$6.2M | −$4.6M | −$1.6M | −$4.3M | −$4.1M | |
| Diluted EPS | −$0.15 | −$0.14 | −$0.11 | −$0.04 | −$0.10 | −$0.09 | |
| Gross margin | 79.7% | 79.8% | 79.8% | 79.0% | 79.8% | 79.5% | |
| Operating margin | -15.8% | -14.4% | -11.1% | -4.4% | -9.7% | -8.6% |
Fiscal years (4-quarter sums)FY21 $90.2M · FY22 $106.4M · FY23 $138.9M · FY24 $167.2M · FY25 $200.9M
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $145.9M · Total debt $7.2M · Total assets $248.8M · Shareholders' equity $182.3M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 44.35M · Float 43.23M · 97.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| First Light Asset Management, LLC | 8.13M | 18.33% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 3.68M | 8.29% | 13F | Aug 7, 2026 |
| Cadian Capital Management, LP | 3.35M | 7.50% | 13G | Aug 14, 2026 |
| American Century Companies Inc | 2.51M | 5.66% | 13F | Aug 12, 2026 |
| Brown Advisory Inc | 2.08M | 4.68% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Anshul Maheshwari | officer: Chief Op & Financial Officer | −11,636 | $20.11 |
| Aug 24, 2026 | Laura Francis | director, officer: Chief Executive Officer | −25,972 | $20.12 |
| Aug 21, 2026 | Anshul Maheshwari | officer: Chief Op & Financial Officer | −11,228 | $20.02 |
| Aug 19, 2026 | Anshul Maheshwari | officer: Chief Op & Financial Officer | −5,747 | $19.55 |
| Aug 21, 2026 | Laura Francis | director, officer: Chief Executive Officer | −3,923 | $20.02 |
Peers
- Globus Medical
Broad spine and musculoskeletal platform with SI pain exposure
- Medtronic
Large spine, biologics, navigation, and robotic surgery competitor
- Tenon Medical
Focused SI joint fusion peer with Catamaran and SImmetry+
- Alphatec
Spine-focused platform competing in deformity and procedural systems
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SI-BONE | $19.21 | +0.05% | $852.0M | — | — | 4.0 | +15.2% |
| Globus Medical | $85.02 | +2.47% | $11.19B | 21.3 | 16.2 | 3.6 | +5.9% |
| Medtronic | $91.58 | +0.42% | $116.78B | 24.5 | 15.3 | 3.2 | +9.9% |
| Tenon Medical | $5.00 | +0.50% | $2.5M | — | — | 0.5 | +126.8% |
| Alphatec | $9.44 | +0.16% | $1.45B | — | 18.7 | 1.8 | +15.1% |
| Median | 22.9 | 16.2 | 2.5 | +12.5% |