SI-BONE, Inc. reports developments for a medical device business focused on procedural solutions for compromised bone and sacropelvic disorders. The company develops technologies centered on spinopelvic anatomy, including applications in minimally invasive SI joint fusion, adult spinal deformity, spinopelvic and sacropelvic fixation, and pelvic trauma.
Recurring updates include quarterly and annual financial results, revenue guidance, cash flow and adjusted EBITDA commentary, physician adoption metrics, reimbursement developments, and healthcare conference presentations. Product references include the iFuse Implant System, iFuse Bedrock Granite, iFuse TORQ, iFuse TORQ TNT, iFuse 3D, and related surgical implant technologies.
SI-BONE, Inc. (Nasdaq: SIBN) announced it will release its third-quarter 2022 financial results on November 7, 2022, post-market close. A conference call will follow at 1:30 PM PT / 4:30 PM ET, allowing investors to engage in a discussion regarding the results. SI-BONE is recognized for its iFuse Implant System aimed at treating sacropelvic disorders, with over 70,000 procedures performed by more than 2,800 surgeons. The company has established a strong reimbursement advantage, supporting its market leadership in minimally invasive surgical solutions.
SI-BONE, Inc. (NASDAQ: SIBN), a leader in surgical solutions for sacropelvic disorders, announced its participation in the Morgan Stanley 20th Annual Global Healthcare Conference. Management will hold a fireside chat on September 14, 2022, at 8:00 a.m. Eastern Time. A live webcast and an archived recording will be available on the company’s website for 90 days post-event. SI-BONE has pioneered the iFuse Implant System since 2009, enabling over 70,000 minimally invasive SI joint fusion procedures, supported by extensive clinical evidence and universal insurance coverage.
SI-BONE, Inc. (Nasdaq:SIBN) reported record worldwide revenue of $25.6 million for Q2 2022, an increase of 15% year-over-year. U.S. revenue of $23.8 million grew 18%, while international revenue fell 8% to $1.8 million. The gross margin was 86%, down from 89% the previous year, attributed to lower average selling prices and rising operational costs. Operating expenses surged 22% to $40.0 million, leading to a net loss of $18.5 million or $0.54 per diluted share. The company anticipates 2022 revenue between $106 million and $108 million.
SI-BONE, Inc. (Nasdaq: SIBN), a leader in surgical solutions for musculoskeletal disorders, announced that CEO Laura Francis and CFO Anshul Maheshwari will present at the Canaccord Genuity 42nd Annual Growth Conference in Boston. The live webcast is scheduled for August 10, 2022, at 9:00 AM ET and will be available for replay on the company's investor relations website for at least 90 days. SI-BONE's iFuse Implant System is used in treating SI joint pain, with over 65,000 procedures performed.
SI-BONE, Inc. (Nasdaq: SIBN), a leader in treating musculoskeletal disorders, will announce its second-quarter 2022 financial results on August 8, 2022, post-market. A live conference call will follow at 1:30 PM PT/4:30 PM ET, accessible by phone or via webcast on their website. The company, known for its iFuse Implant System, has established a robust market presence with over 65,000 procedures performed. Their proprietary reimbursement advantage underscores their market leadership in surgical treatments for sacropelvic issues.
SI-BONE, Inc. (SIBN) announced FDA clearance for the iFuse-TORQ system for pelvic fracture fixation, including acute and non-acute fractures. This approval expands the treatment of pelvic fragility and insufficiency fractures, addressing a market opportunity of approximately $300 million. With 120,000 such fractures occurring annually in the U.S., this innovation is aimed at reducing the complications associated with traditional treatment methods. The iFuse-TORQ is positioned to help remobilize patients suffering from these debilitating injuries.
SI-BONE, Inc. (Nasdaq: SIBN) announced FDA 510(k) premarket clearance for its iFuse Bedrock Granite Implant System. This approval follows its designation as a Breakthrough Device by the FDA and a proposed New Technology Add-on Payment from CMS. The Granite implant aims to improve outcomes in sacroiliac fusion surgery and reduce reoperations. Key endorsements from medical professionals highlight its innovative design addressing existing issues in spinal surgeries. The company is optimistic about Granite's clinical benefits and market potential.
SI-BONE, Inc. (Nasdaq: SIBN) reported first quarter 2022 financial results with worldwide revenue of $22.4 million, a 10% increase from Q1 2021. U.S. revenue rose 9% to $20.4 million, while international revenue surged 24% to $2.1 million. Gross margin was 87%, down from 89% in Q1 2021, impacted by lower average selling prices. Operating expenses rose 22% to $36.3 million, resulting in an operating loss of $16.9 million. The company forecasts $106 million to $108 million total revenue in 2022, reflecting 18% to 20% growth.
SI-BONE, Inc. (Nasdaq: SIBN) announced that the Centers for Medicare and Medicaid Services (CMS) has proposed a New Technology Add-on Payment for the iFuse Bedrock Granite™ implant, intended for sacroiliac fusion. This implant holds FDA Breakthrough Device Designation, indicating its potential for improved treatment over existing options. The planned NTAP aims to enable hospitals to receive additional reimbursement, enhancing patient access to this innovative technology once finalized.
SI-BONE, Inc. (Nasdaq: SIBN) will participate in the 2022 Bank of America Healthcare Conference in Las Vegas, hosting a fireside chat presentation on May 11, 2022, at 12:40 PM PT / 3:40 PM ET. A live webcast and archived recording will be accessible on the company's website for 90 days post-event.
SI-BONE specializes in surgical treatments for musculoskeletal disorders, particularly with its iFuse Implant System, which addresses SI joint pain, responsible for 15%-30% of chronic low back pain. More than 65,000 procedures have been performed using this system.