SiBone (NASDAQ:SIBN) Announces Quarterly Earnings Results

SiBone (NASDAQ:SIBN) posted its earnings results on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09, FiscalAI reports. The business had revenue of $56.35 million for the quarter, compared to analysts’ expectations of $56.26 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%.

Here are the key takeaways from SiBone’s conference call:

• SI‑BONE reported record 2025 worldwide revenue of $200.9 million (up ~20%) and Q4 revenue of $56.3 million, with nearly 22,000 procedures and strong physician adoption gains.
• The company delivered its first full year of positive Adjusted EBITDA ($8.9 million), Q4 Adjusted EBITDA of $5.1 million (9.1% margin), and generated positive free cash flow in Q4 while exiting with $147.8 million in cash.
• Material product and reimbursement catalysts include 510(k) clearance and alpha launch of INTRA Ti, NTAP for iFuse TORQ TNT, TPT for iFuse Bedrock Granite, and a third Breakthrough Device on track for a Q3 510(k) filing with potential late‑2026 commercialization.
• SI‑BONE is expanding commercial reach via a hybrid sales model (89 territory managers + 300+ agents), plans to add 10 territories in 2026, and signed a strategic distribution partnership with Smith+Nephew to accelerate trauma market penetration.
• 2026 guidance targets worldwide revenue of $228.5–$232.5 million (14%–16% growth), ~78% gross margin and ~12.5% OpEx growth, with revenue expected to be weighted to the second half as new product and reimbursement tailwinds ramp.

SiBone Trading Up 0.9%

SIBN stock opened at $15.62 on Tuesday. The company has a market capitalization of $677.75 million, a PE ratio of -30.63 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.62 and a current ratio of 7.97. SiBone has a one year low of $12.49 and a one year high of $21.89. The company’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $16.83.

Analyst Ratings Changes

SIBN has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Canaccord Genuity Group raised their price target on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Morgan Stanley lifted their target price on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Truist Financial boosted their price target on shares of SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Needham & Company LLC raised their price objective on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SiBone currently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Insider Activity at SiBone

In other SiBone news, SVP Michael A. Pisetsky sold 20,756 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the sale, the senior vice president directly owned 285,974 shares in the company, valued at $4,389,700.90. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 21,528 shares of SiBone stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total value of $330,885.36. Following the completion of the transaction, the chief financial officer owned 266,466 shares in the company, valued at approximately $4,095,582.42. This represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 247,653 shares of company stock worth $4,234,702 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SiBone

Several institutional investors have recently bought and sold shares of SIBN. First Light Asset Management LLC increased its stake in SiBone by 162.4% in the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares during the period. Vanguard Group Inc. boosted its stake in shares of SiBone by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,489,989 shares of the company’s stock valued at $36,653,000 after purchasing an additional 41,449 shares during the period. Nuveen LLC grew its holdings in shares of SiBone by 5.1% in the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after purchasing an additional 69,229 shares during the last quarter. Cadian Capital Management LP increased its stake in shares of SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after buying an additional 576,100 shares during the period. Finally, Wellington Management Group LLP raised its holdings in SiBone by 74.7% during the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after buying an additional 364,897 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

About SiBone

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.