SiBone (NASDAQ:SIBN) Announces Quarterly Earnings Results

SiBone (NASDAQ:SIBN) released its earnings results on Monday. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06, FiscalAI reports. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The firm had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $55.34 million.

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

• Second-quarter revenue rose 15.2% to $56 million, with U.S. procedure volume up nearly 15% and growth across SI joint fusion, pelvic fixation, and pelvic trauma. International revenue increased 25.9% to $2.8 million.
• Operating leverage improved substantially as operating expenses grew 7.7%, driving a 178% increase in adjusted EBITDA to $2.8 million and narrowing the net loss to $4.1 million. The company also reported another quarter of positive operating cash flow and ended with approximately $146 million in cash.
• SI-BONE raised the low end of its 2026 worldwide revenue outlook to $231 million-$233 million, while maintaining its 79% gross-margin expectation. Management cited strong physician growth, expanded commercial capacity, and multiple upcoming catalysts.
• The company submitted its third breakthrough-device 510(k) application in June and expects a phased launch as early as October, using existing relationships with spine surgeons. New CMS reimbursement proposals and finalized Granite-related DRGs could materially improve procedure economics, including potential hospital payment increases of up to $50,000 per procedure.
• Management plans to increase targeted R&D spending in the second half to advance new materials, software, AI, and additional products, while investing in surgical capacity and a new headquarters. These investments may create long-term growth but could cause near-term cash-flow variability and pressure margins through additional depreciation.

SiBone Trading Up 3.9%

SiBone stock opened at $18.45 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The firm has a market cap of $818.26 million, a price-to-earnings ratio of -47.31 and a beta of 0.66. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The firm’s 50 day moving average price is $16.30 and its two-hundred day moving average price is $15.12.

Wall Street Analyst Weigh In

SIBN has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. TD Cowen dropped their target price on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Truist Financial upped their target price on SiBone from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. UBS Group assumed coverage on SiBone in a research note on Tuesday, July 28th. They set a “buy” rating and a $24.00 price target for the company. Finally, Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.57.

Insider Activity at SiBone

In other news, Director Timothy E. Davis, Jr. sold 3,500 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $14.14, for a total transaction of $49,490.00. Following the completion of the sale, the director owned 65,722 shares in the company, valued at approximately $929,309.08. This represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 3,317 shares of SiBone stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total value of $55,626.09. Following the completion of the transaction, the chief financial officer owned 256,560 shares in the company, valued at $4,302,511.20. The trade was a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 35,989 shares of company stock worth $541,229. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiBone

A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after buying an additional 1,053 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of SiBone in the first quarter worth approximately $225,000. Goldman Sachs Group Inc. raised its holdings in shares of SiBone by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after acquiring an additional 83,919 shares during the period. Jane Street Group LLC acquired a new stake in shares of SiBone during the first quarter valued at approximately $1,818,000. Finally, Legal & General Group Plc lifted its position in shares of SiBone by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after acquiring an additional 5,888 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SiBone Company Profile

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.