10-Q · August 4, 2026
SI-BONE delivered Q2 revenue of $56.010 million, up 15.2% year over year, with GAAP diluted loss per share improving to $0.09 from $0.14. Gross margin was broadly stable at 79.5%, while operating margin improved to…
Earnings analysis · 10-Q
SIBN earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
SI-BONE delivered third-quarter revenue of $55.704 million and diluted EPS of $(0.08), with revenue up 14.5% year over year and EPS improving versus both the year-ago and prior quarters. Adjusted EBITDA of $3.0 million…
Read full summary
SI-BONE delivered third-quarter revenue of $55.704 million and diluted EPS of $(0.08), with revenue up 14.5% year over year and EPS improving versus both the year-ago and prior quarters. Adjusted EBITDA of $3.0 million and operating cash flow of $5.9 million indicate improving profitability and cash generation, while management lowered expected operating expense growth to approximately 10.5%. Sentiment remains neutral because fiscal 2026 revenue guidance of $231 million-$233 million was maintained rather than raised, and the filing disclosed a packaging-related recall affecting 98 distributed implants and approximately 3,800 quarantined units.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.08
What stood out
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Revenue grew 14.5% year over year
Third-quarter revenue was $55.704 million, up 14.5% year over year and approximately 0.7% above the $55.313 million consensus estimate.
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EPS loss narrowed sequentially and annually
Diluted EPS was $(0.08), improving from $(0.11) in the year-ago quarter and $(0.09) in the prior quarter; it exceeded the $(0.13) consensus estimate.
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Profitability and operating cash improved
Adjusted EBITDA increased 32.4% to $3.0 million, while operating cash flow reached $5.9 million in the quarter.
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Revenue and margin outlook maintained
Management reaffirmed fiscal 2026 revenue guidance of $231 million-$233 million, approximately 15%-16% growth, and approximately 79.0% gross margin guidance.
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Expense growth outlook was lowered
Expected fiscal 2026 operating expense growth was reduced to approximately 10.5% from approximately 12.0%, supporting the expectation for positive adjusted EBITDA.
What to watch
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Packaging failure affects 3,900 implants
The company identified a sterile-barrier packaging failure involving certain iFuse TORQ implants and is repackaging and re-sterilizing approximately 3,900 implants; 98 were voluntarily recalled and approximately 3,800 were quarantined.
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Voluntary product recall creates regulatory risk
The packaging issue led to a voluntary recall of 98 distributed iFuse TORQ implants, and the company submitted a report of correction and removal to the FDA while recommending Class II classification.
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Input-cost and floating-rate exposure
Certain products require titanium from third-party supply sources, and the filing states that tariffs on titanium sourced from Canada or elsewhere could increase implant costs; the Third Amendment Term Loan also carries a floating rate set at the greater of prime minus 0.5% or 4.25%.
Management's outlook
Fiscal 2026 worldwide revenue guidance was reaffirmed at $231 million-$233 million, representing approximately 15%-16% growth; gross margin guidance was reaffirmed at approximately 79.0% and positive adjusted EBITDA was expected. Operating expense growth expectation was lowered to approximately 10.5% from approximately 12.0%.
Earlier filings 4
10-Q · May 11, 2026
SI-BONE, Inc. reported Q1 2026 earnings with revenue of $52.6 million and a net loss of $4.3 million, resulting in an EPS of -$0.10. The results exceeded revenue estimates of $51.2 million and EPS estimates of -$0.19,…
10-K · February 24, 2026
SI-BONE, Inc. reported a revenue increase of 20.2% in FY 2025, totaling $200.9 million, driven by higher U.S. case volumes and expanding product offerings. Operating losses decreased, leading to improved financial…
10-Q · November 10, 2025
SI-BONE, Inc. reported notable improvements in its financial performance for Q3 2025, achieving a revenue increase of 20.6% year-over-year, driven primarily by growth in U.S. sales. The company also narrowed its EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.