SI-Bone (SIBN) AI Stock Analysis

• Market Cap: $662.21M
• Dividend Yield: N/A
• Average Volume (3M): 404.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.82
• Revenue Growth: 22.93%
• EPS Growth: 43.83%
• Country: US
• Employees: 349
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.14
• Shares Outstanding: 43,140,938
• 10 Day Avg. Volume: 296,017
• 30 Day Avg. Volume: 404,519
• PEG Ratio: 0.56
• Price to Book (P/B): 3.48
• Price to Sales (P/S): 3.48
• P/FCF Ratio: -25.36
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 3.94
• Enterprise Value/Gross Profit: 4.98
• Enterprise Value/Ebitda: -37.13
• 1Y Price Target: $22.75
• Price Target Upside: 48.21% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.6
• Revenue Forecast (FY): $196.63M

• Rating: 57 Neutral
• Price Target: $16.00 ▲(4.23% Upside)

SI-Bone's overall stock score is driven by strong earnings call performance, highlighting significant revenue growth and operational milestones. However, financial performance challenges, particularly in profitability and cash flow management, weigh heavily on the score. Technical indicators suggest a neutral trend, while valuation metrics reflect ongoing profitability issues. The company's strategic focus on innovation and market expansion is a positive factor, but financial health improvements are necessary for a higher score.

Positive Factors

Revenue Growth

The consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion and market penetration.

Operational Excellence

Improvement in gross margins reflects efficient cost management and operational excellence, which can enhance profitability and competitive positioning over time.

Market Expansion

The launch of new products in international markets can drive future growth and diversification, reducing reliance on domestic sales and enhancing global footprint.

Negative Factors

Profitability Challenges

Ongoing net losses highlight challenges in achieving profitability, which may impact financial sustainability and require strategic adjustments to improve margins.

Cash Flow Issues

Persistent cash flow challenges can limit the company's ability to invest in growth opportunities and may necessitate improved cash management strategies.

Regulatory Delays

Regulatory delays can hinder timely market entry and growth, affecting revenue projections and competitive advantage in new regions.

SI-Bone Business Overview & Revenue Model

Company Description

SI-Bone, Inc. is a medical device company focused on transforming the treatment of sacroiliac joint disorders. The company is primarily engaged in the development and commercialization of innovative surgical implants and technologies designed to provide relief for patients suffering from chronic pain related to these disorders. SI-Bone's core products include the iFuse Implant System, which is utilized in minimally invasive surgical procedures to stabilize the sacroiliac joint, thus alleviating pain and improving functionality for patients. The company operates within the orthopedic and spinal surgery sectors, targeting both hospitals and outpatient facilities.

How the Company Makes Money

SI-Bone generates revenue primarily through the sale of its medical devices, specifically the iFuse Implant System, which is marketed to hospitals and surgical centers. The company employs a direct sales force and also collaborates with independent distributors to reach a wider customer base. Key revenue streams include the sale of surgical implants, instruments, and related consumables used in procedures. Additionally, SI-Bone may benefit from partnerships with healthcare providers and payers that facilitate the adoption of its products, as well as from ongoing training and support services provided to surgeons and medical staff. The company may also explore opportunities for reimbursement from insurance providers, which can enhance its revenue potential.

SI-Bone Financial Statement Overview

Summary

SI-Bone's financial performance is mixed. Strong revenue growth and gross margins are positive, but ongoing net losses and negative free cash flow highlight profitability and cash management challenges. The balance sheet is robust with low leverage, yet negative ROE reflects profitability issues.

Income Statement

The company shows a strong gross profit margin of 79% in TTM, indicating effective cost management. However, the net profit margin remains negative due to substantial net losses, reflecting ongoing profitability challenges. Revenue growth is robust, with a 6.8% increase from the previous year to TTM, signaling positive sales momentum. Despite this, negative EBIT and EBITDA margins highlight persistent operational inefficiencies.

Balance Sheet

SI-Bone's balance sheet reveals a healthy equity position, with a debt-to-equity ratio of 0.22, suggesting low financial leverage. The return on equity remains negative due to consistent net losses, indicating a drag on shareholder returns. The equity ratio of 73.6% is strong, reflecting a solid financial structure with significant equity backing assets.

Cash Flow

Cash flow analysis shows improvement in operating cash flow, but free cash flow remains negative, indicating challenges in generating cash after capital expenditures. The operating cash flow to net income ratio is positive, suggesting some efficiency in converting earnings to cash. However, the free cash flow to net income ratio remains negative, reflecting cash constraints.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	176.60M	167.18M	138.89M	106.41M	90.15M	73.39M
Gross Profit	139.95M	132.12M	109.42M	90.70M	79.72M	64.48M
EBITDA	-18.76M	-23.09M	-34.45M	-54.98M	-50.97M	-36.47M
Net Income	-26.55M	-30.91M	-43.34M	-61.26M	-56.57M	-43.70M
Balance Sheet
Total Assets	227.28M	230.44M	230.43M	157.55M	190.51M	223.14M
Cash, Cash Equivalents and Short-Term Investments	144.41M	150.04M	166.02M	97.29M	146.98M	196.43M
Total Debt	37.15M	37.48M	38.99M	39.43M	40.48M	39.45M
Total Liabilities	60.02M	63.47M	61.05M	59.25M	56.09M	53.78M
Stockholders Equity	167.26M	166.96M	169.38M	98.30M	134.42M	169.36M
Cash Flow
Free Cash Flow	-20.25M	-22.92M	-26.51M	-51.16M	-45.92M	-33.22M
Operating Cash Flow	-9.77M	-12.43M	-18.71M	-41.66M	-39.53M	-30.66M
Investing Cash Flow	16.91M	12.62M	-59.80M	-2.81M	51.58M	-62.92M
Financing Cash Flow	1.96M	1.96M	90.93M	2.20M	-1.71M	136.40M

SI-Bone Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 15.35
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SIBN, the sentiment is Positive. The current price of 15.35 is above the 20-day moving average (MA) of 15.26, above the 50-day MA of 15.29, and below the 200-day MA of 16.26, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 51.98 is Neutral, neither overbought nor oversold. The STOCH value of 33.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SIBN.

SI-Bone Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BVS	66 Neutral	$624.23M	-1,020.27	-0.10%	―	5.08%	99.38%
CLPT	60 Neutral	$498.05M	-21.92	-85.68%	―	19.68%	-13.17%
SIBN	57 Neutral	$662.21M	―	-14.18%	―	22.93%	43.83%
OFIX	52 Neutral	$587.28M	―	-24.63%	―	4.84%	0.85%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ZIMV	48 Neutral	―	―	-4.76%	―	-19.52%	94.65%
KIDS	47 Neutral	$415.78M	-8.48	-12.67%	―	19.90%	-57.90%

SI-Bone Corporate Events

SI-BONE’s iFuse Bedrock Granite Study: A Potential Game-Changer in Spinal Surgery

SI-BONE, Inc. is conducting a clinical study titled ‘Pelvic Fixation and Fusion During Multilevel Spinal Surgery’ to evaluate the safety, performance, and effectiveness of the iFuse Bedrock Granite in patients undergoing spinal fusion surgery with pelvic fixation. This study aims to provide crucial data that could influence treatment protocols for spinal conditions.

Real-World Evidence: SI-BONE’s Innovative Spinopelvic Study Update

The study titled ‘Innovative Spinopelvic Solutions with Real-World Evidence’ aims to evaluate post-operative health outcomes in patients undergoing procedures using SI-BONE implants. This research is significant as it seeks to provide real-world evidence on the effectiveness of these implants in treating sacroiliac joint dysfunction and pain.

Si-Bone’s Earnings Call Highlights Strong Growth and Future Prospects

The recent earnings call for Si-Bone painted a positive picture of the company’s financial health and strategic progress. The sentiment expressed during the call was largely upbeat, highlighting strong revenue growth, profitability, and cash flow achievements. Despite some challenges such as delayed regulatory clearance in Europe and expected cash usage in the latter half of the year, the positive aspects significantly outweighed the negatives, indicating a promising outlook for the company.

SI-BONE Reports Strong Q2 Growth and Raises Guidance

SI-BONE, Inc. is a medical device company specializing in innovative solutions for sacropelvic disorders, leveraging minimally invasive surgical technologies. In its second-quarter 2025 earnings report, SI-BONE announced a significant revenue increase of 21.7% year-over-year, reaching $48.6 million, and achieved positive adjusted EBITDA and cash flow breakeven. Key financial highlights include a 22.8% growth in U.S. revenue and a gross margin improvement to 79.8%. The company also reported a net loss reduction of 31.2% to $6.2 million. Operationally, SI-BONE expanded its physician base by 25% and launched new products in Europe. Looking ahead, SI-BONE has raised its 2025 revenue guidance to $195-$198 million, projecting continued growth and profitability, while maintaining a strong focus on innovation and market expansion.

SI-Bone Reports Strong Q2 2025 Financial Results

On August 4, 2025, SI-BONE announced the retirement of Anthony Recupero, President of Commercial Operations, effective February 15, 2026, with a transition to an advisory role starting February 16, 2025. Nikolas Kerr will succeed him as Chief Commercial Officer. The company reported strong financial results for Q2 2025, with a 21.7% increase in worldwide revenue and positive adjusted EBITDA, highlighting the success of its innovation-driven strategy and expanding physician base. SI-BONE also raised its 2025 revenue guidance, expecting growth of 17% to 18%, underscoring its robust market position and operational efficiency.

The most recent analyst rating on (SIBN) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on SI-Bone stock, see the SIBN Stock Forecast page.