Shoulder Innovations (NYSE:SI) Announces Earnings Results, Beats Estimates By $0.04 EPS

Shoulder Innovations (NYSE:SI) released its quarterly earnings results on Tuesday. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04, Zacks reports. The business had revenue of $14.42 million during the quarter, compared to analyst estimates of $12.69 million.

Here are the key takeaways from Shoulder Innovations’ conference call:

• Company reported strong top-line momentum with Q4 revenue of $14.4M (+65% YoY), full-year 2025 revenue of $47.3M (+50% YoY), and initiated 2026 guidance of $62M–$65M (31%–37% growth).
• Commercial adoption accelerated — 134 core and contender surgeons (up 61% YoY) and implant volume rose 62% YoY in Q4 to 1,976 units (6,506 units for 2025, +50% YoY), reflecting faster conversion and higher utilization.
• Profitability pressure from scaling and public-company costs — gross margin remains healthy (~76.5%–76.7%) but net loss widened to $40.4M for 2025 and adjusted EBITDA loss was $36.1M, driven by higher SG&A (hiring, IPO/legal) and increased R&D (robotics investment).
• Product and technology initiatives could be differentiators — limited releases of the InSet I-135RFX and N-22 head, plus a partnership to deliver a portable, robotics-as-a-service solution integrated with ProVoyance, target ASC adoption and potential long-term market and design advantages.
• Strong liquidity supports growth plan — $124.3M cash at year-end 2025 with management expecting flat quarterly cash burn near-term and improved leverage later in 2026 as investments scale.

Shoulder Innovations Price Performance

SI traded up $0.56 on Wednesday, hitting $13.61. 72,930 shares of the company’s stock were exchanged, compared to its average volume of 53,265. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94. The stock has a market cap of $280.37 million and a price-to-earnings ratio of -0.12. The firm has a 50-day moving average price of $13.71 and a 200-day moving average price of $13.86. The company has a current ratio of 11.09, a quick ratio of 9.80 and a debt-to-equity ratio of 0.10.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SI. Morgan Stanley boosted their price objective on Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target on shares of Shoulder Innovations in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (e)” rating on shares of Shoulder Innovations in a report on Monday, December 29th. BTIG Research upped their price objective on shares of Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Insider Activity at Shoulder Innovations

In other Shoulder Innovations news, CEO Robert Joseph Ball purchased 3,900 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average cost of $14.89 per share, with a total value of $58,071.00. Following the completion of the purchase, the chief executive officer owned 118,457 shares in the company, valued at approximately $1,763,824.73. This represents a 3.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 9,200 shares of company stock valued at $136,642 in the last ninety days.

Institutional Trading of Shoulder Innovations

A number of hedge funds have recently bought and sold shares of SI. Rhumbline Advisers purchased a new position in Shoulder Innovations in the 3rd quarter worth approximately $54,000. Vanguard Group Inc. purchased a new position in Shoulder Innovations during the third quarter worth approximately $1,836,000. Deerfield Management Company L.P. purchased a new stake in Shoulder Innovations in the 3rd quarter valued at $6,056,000. Bank of America Corp DE acquired a new stake in shares of Shoulder Innovations in the 3rd quarter worth $322,000. Finally, Citadel Advisors LLC purchased a new position in shares of Shoulder Innovations during the 3rd quarter worth $628,000.

About Shoulder Innovations

Shoulder Innovations (NYSE:SI) is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.