WORKSPORT ANNOUNCES FINAL PRICING AND INITIAL MODEL LINEUP FOR SOLIS SOLAR TONNEAU COVER
SI-BONE (Nasdaq: SIBN) reported second-quarter 2025 results with worldwide revenue of $48.6M (+21.7% YoY) and U.S. revenue of $46.4M (+22.8% YoY). Gross margin was 79.8% and adjusted EBITDA turned positive at $1.0M, while net loss improved to $6.2M (‑31.2%). Cash and equivalents totaled $145.5M with $1.1M net cash generated in the quarter. Operationally, active U.S. physicians grew ~25% to 1,440 and trailing 12‑month average revenue per territory rose ~23%. Fiscal 2025 revenue guidance was updated to $195M–$198M (~17%–18% growth) with expected full‑year positive adjusted EBITDA.
SI-BONE (Nasdaq: SIBN) ha riportato i risultati del secondo trimestre 2025 con fatturato mondiale di 48,6 milioni di dollari (+21,7% su base annua) e fatturato negli Stati Uniti di 46,4 milioni di dollari (+22,8% su base annua). Il margine lordo è stato del 79,8% e l'EBITDA rettificato è diventato positivo a 1,0 milioni di dollari, mentre la perdita netta è migliorata a 6,2 milioni di dollari (‑31,2%). Le disponibilità liquide e equivalenti ammontavano a 145,5 milioni di dollari con 1,1 milioni di dollari di cash flow netto generato nel trimestre. In ambito operativo, i medici attivi statunitensi sono cresciuti di circa 25% a 1.440 e la media dei ricavi negli ultimi 12 mesi per territorio è salita di circa 23%. Le previsioni sul fatturato per l’esercizio 2025 sono state aggiornate a 195–198 milioni di dollari (~17%–18% di crescita) con l’EBITDA rettificato atteso per l’intero anno in positivo.
SI-BONE (Nasdaq: SIBN) reportó los resultados del segundo trimestre de 2025 con ingresos mundiales de $48.6M (+21,7% interanual) y ingresos en EE. UU. de $46.4M (+22,8% interanual). El margen bruto fue del 79,8% y el EBITDA ajustado se volvió positivo en $1.0M, mientras que la pérdida neta mejoró a $6.2M (‑31,2%). El efectivo y equivalentes sumaron $145.5M con $1.1M de efectivo neto generado en el trimestre. Operativamente, los médicos activos en EE. UU. crecieron ~25% hasta 1,440 y el ingreso medio por territorio en los últimos 12 meses aumentó ~23%. La guía de ingresos para 2025 se actualizó a $195M–$198M (~17%–18% de crecimiento) con un EBITDA ajustado anual positivo esperado.
SI-BONE (나스닥: SIBN)은 2025년 2분기 실적을 발표했습니다. 전세계 매출 4,860만 달러(+전년동기 대비 21.7%) 및 미국 매출 4,640만 달러(+전년동기 대비 22.8%)를 기록했습니다. 총이익률은 79.8%였고 조정 EBITDA는 1.0백만 달러로 흑자 전환했으며 순손실은 620만 달러로 개선되었습니다(‑31.2%). 현금 및 현금성 자산은 1억 4,550만 달러이고 분기 순현금 창출은 110만 달러였습니다. 운영 측면에서 미국 내 활성 의사는 약 25% 증가하여 1,440명에 이르렀고, 최근 12개월 누적 매출액의 지역당 평균도 약 23% 상승했습니다. 2025 회계연도 매출 가이던스는 $195M–$198M로 업데이트되었고(~17%–18% 성장), 연간 긍정적 조정 EBITDA를 예상합니다.
SI-BONE (Nasdaq : SIBN) a publié les résultats du deuxième trimestre 2025 avec un chiffre d’affaires mondial de 48,6 M$ (+21,7 % sur un an) et un chiffre d’affaires américain de 46,4 M$ (+22,8 % sur un an). La marge brute était de 79,8 % et l’EBITDA ajusté est devenu positif à 1,0 M$, tandis que la perte nette s’est améliorée à 6,2 M$ (‑31,2 %). La trésorerie et équivalents s’élevaient à 145,5 M$ avec 1,1 M$ de flux de trésorerie net généré au cours du trimestre. Opérationnellement, les médecins actifs américains ont augmenté d’environ 25 % pour atteindre 1 440, et le revenu moyen par territoire sur les 12 mois trailing a augmenté d’environ 23 %. Les prévisions de revenus pour l’exercice 2025 ont été révisées à 195–198 M$ (~17 %–18 % de croissance) avec un EBITDA ajusté annuel positif attendu.
SI-BONE (Nasdaq: SIBN) meldete die Ergebnisse des zweiten Quartals 2025 mit weltweit 48,6 Mio. USD Umsatz (+21,7 % gegenüber dem Vorjahr) und U.S.-Umsatz von 46,4 Mio. USD (+22,8 % gegenüber dem Vorjahr). Die Bruttomarge betrug 79,8 % und das bereinigte EBITDA wurde positiv bei 2,0 Mio. USD, während der Nettogewinnverlust sich auf 6,2 Mio. USD verbesserte (‑31,2 %). Barmittel und Äquivalente beliefen sich auf 145,5 Mio. USD mit 1,1 Mio. USD Nettobarfluss im Quartal. Operativ wuchsen die aktiven US-Ärzte um ca. 25 % auf 1.440 und das Umsatznivo der trailing 12-M Monate pro Gebiet stieg um ca. 23 %. Die Umsatzprognose für das Geschäftsjahr 2025 wurde auf 195–198 Mio. USD (ca. 17 %–18 % Wachstum) aktualisiert, mit erwartetem positiverem bereinigtem EBITDA für das Gesamtjahr.
SI-BONE (ناسداك: SIBN) أعلنت عن نتائج الربع الثاني من عام 2025 مع إيرادات عالمية قدرها 48.6 مليون دولار (+21.7% على أساس سنوي) وإيرادات الولايات المتحدة قدرها 46.4 مليون دولار (+22.8% على أساس سنوي). الهامش الإجمالي كان 79.8% وتحوّل EBITDA المعدّل إلى الإيجابي عند $1.0M، بينما تحسن صافي الخسارة إلى $6.2M (-31.2%). بلغت النقدية وما يعادلها $145.5M مع $1.1M صافي نقد مُولّد خلال الربع. عملياً، ارتفع أطباء الولايات المتحدة النشطون بنحو ~25% إلى 1,440 وارتفع الإيراد المتوسط لآخر 12 شهراً لكل منطقة بنحو ~23%. تم تحديث توجيه الإيرادات للسنة المالية 2025 إلى $195M–$198M (~17%–18% نمو) مع توقع EBITDA المعدل للعام كامل بأن يكون إيجابياً.
- Worldwide revenue +21.7% to $48.6M
- U.S. revenue +22.8% to $46.4M
- Adjusted EBITDA turned positive at $1.0M
- Active U.S. physicians +~25% to 1,440
- Trailing 12‑month revenue per territory +~23%
- Net loss of $6.2M despite improvement
- Operating expenses increased 10.0% to $45.8M
- International revenue remained small at $2.2M
Insights
SI-BONE delivered double‑digit revenue growth, positive adjusted EBITDA, and improved losses while affirming full‑year guidance.
SI‑BONE reported
The company benefits from rising procedure demand and recent reimbursement developments; the CMS final FY2026 inpatient rule implements an NTAP effective
Watch the company’s progress against its full‑year revenue and gross‑margin bands, quarterly adjusted EBITDA consistency, and the commercial leadership transition completing on
Achieved ~
Second Quarter 2025 Financial Highlights (all comparisons are to the prior year period)
- Worldwide revenue of
$48.6 million , representing growth of21.7% - U.S. revenue of
$46.4 million , representing growth of22.8% - Gross margin of
79.8% , representing an improvement of 80 basis points - Net loss of
$6.2 million , representing an improvement of31.2% - Positive adjusted EBITDA of
$1.0 million $145.5 million in cash and equivalents, with$1.1 million net cash generated in the quarter
Recent Operational Highlights (any comparisons are to the prior year period)
- 1,440 active U.S. physicians, representing growth of ~
25% $2.1 million in trailing 12-month average revenue per territory, representing an increase of ~23% - CMS final FY2026 hospital inpatient rule confirmed the New Technology Add-On Payment (“NTAP”) effective October 1, 2025, paying an additional amount up to
$4,136 for procedures involving iFuse TORQ TNT - CMS proposed the continuation of the Transitional Pass-Through Payment for Granite for CY2026
- In July, launched iFuse TORQ across Europe with first cases performed in multiple countries
Commercial Leadership Update
- Tony Recupero, President, Commercial Operations, announced his decision to retire effective February 15, 2026. Effective February 16, 2025, he will transition to a 12-month advisory role
- Announced the appointment of Nikolas Kerr, Senior Vice President of Product, Marketing and Business Development, as Chief Commercial Officer to succeed Tony Recupero effective February 16, 2026
SANTA CLARA, Calif., Aug. 04, 2025 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving sacropelvic disorders, today reported financial results for the quarter ended June 30, 2025.
“Our strong second-quarter performance highlights how our innovation-driven strategy continues to fuel robust engagement across our rapidly expanding physician base,” said Laura Francis, Chief Executive Officer. “We delivered double-digit procedure volume growth across all our U.S. target markets, propelled by accelerating adoption of our latest product launches and sustained demand for our proven solutions. Beyond top-line momentum, our consistent delivery of positive Adjusted EBITDA and achievement of cash flow breakeven this quarter underscore the power of our asset-light model and disciplined execution.”
“Given Tony’s decision to retire, I want to extend my deepest thanks to him for his outstanding leadership, partnership, and friendship over the past decade,” Laura Francis continued. “He built the industry’s premier commercial organization, led the successful launch of multiple procedural solutions, and developed a world-class leadership team that positions us for enduring success. With the planned transition in place, I’m excited to partner with Nik in the new role. I’m confident that the best is yet to come as we expand our platform, deepen physician engagement, and deliver sustained, profitable growth.”
Second Quarter 2025 Financial Results
Worldwide revenue was
Gross profit was
Operating expenses increased
Operating loss improved by
Net loss improved by
Adjusted EBITDA was positive
Cash and equivalents as of June 30, 2025 were
Fiscal 2025 Updated Financial Guidance
SI-BONE expects 2025 worldwide revenue to be in the range of
| Fiscal Year 2025 Guidance | ||
| New (August 4, 2025) | Prior (May 5, 2025) | |
| Revenue | ~ | ~ |
| Gross Margin | ||
| Operating Expenses | ~ at revenue midpoint | ~ at revenue midpoint |
| Adjusted EBITDA | Positive | Positive |
Webcast Information
SI-BONE will host a conference call to discuss the second quarter 2025 financial results after market close on Monday, August 4, 2025 at 4:30 P.M. Eastern Time. The conference call can be accessed live over webcast at https://edge.media-server.com/mmc/p/fnam2tia. Live audio of the webcast will be available on the “Investors” section of the company’s website at: www.si-bone.com. The webcast will be archived and available for replay for at least 90 days after the event.
About SI-BONE, Inc.
SI-BONE (NASDAQ: SIBN) is a global leader in developing unique technologies for surgical treatment of sacropelvic disorders. Since pioneering minimally invasive SI joint surgery in 2009, SI-BONE has supported over 4,600 physicians in performing a total of nearly 130,000 procedures. A unique body of clinical evidence supports the use of SI-BONE’s technologies, including four randomized controlled trials and over 175 peer reviewed publications. SI-BONE has leveraged its leadership in minimally invasive SI joint fusion to commercialize novel solutions for adjacent markets, including adult deformity, sacropelvic fixation and pelvic trauma.
For additional information on the company or the products including risks and benefits, please visit www.si-bone.com.
iFuse Bedrock Granite, iFuse TORQ, iFuse TORQ TNT and SI-BONE are trademarks of SI-BONE, Inc. ©2025 SI-BONE, Inc. All Rights Reserved.
Forward-Looking Statements
The statements in this press release regarding expectations of future events or results, including SI-BONE’s expectations of continued revenue and procedure growth and financial outlook, are “forward-looking” statements. These forward-looking statements are based on SI-BONE’s current expectations and inherently involve significant risks and uncertainties. These risks include SI-BONE’s ability to introduce and commercialize new products and indications, SI-BONE’s ability to maintain favorable reimbursement for procedures using its products, the impact of any future economic weakness or deterioration in economic conditions as a result of tariffs and retaliation by U.S. trading partners on the ability and desire of patients to undergo elective procedures including those using SI-BONE’s products, SI-BONE’s ability to manage risks to its supply chain, future capital requirements driven by new surgical systems requiring instrument tray and implant inventory investment, and the pace of the re-normalization of the healthcare operating environment including the ability and desire of patients and physicians to undergo and perform procedures using SI-BONE’s products. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these and other risks and uncertainties, many of which are described in SI-BONE’s most recent filing on Form 10-K, and SI-BONE’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov), especially under the caption “Risk Factors.” SI-BONE does not undertake any obligation to update forward-looking statements and expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein, except as required by law.
Use of Non-GAAP Financial Measures
SI-BONE uses adjusted EBITDA, a non-GAAP financial measures that excludes from net loss the effects of interest income, interest expense, depreciation and amortization, and stock-based compensation. SI-BONE believes the presentation of adjusted EBITDA is useful to management because it allows management to more consistently analyze period-to-period financial performance and provides meaningful supplemental information with respect to core operational activities used to evaluate management's performance. SI-BONE also believes the presentation of adjusted EBITDA is useful to investors and other interested persons as it enables these persons to use this additional information to assess the company’s performance in using this additional metric that management uses to assess the company’s performance.
Adjusted EBITDA should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. Because adjusted EBITDA excludes the effect of items that increase or decrease SI-BONE’s reported results of operations, management strongly encourages investors to review, when they become available, the company's consolidated financial statements and publicly filed reports in their entirety. The company's definition of adjusted EBITDA may differ from similarly titled measures used by others.
Investor Contact
Saqib Iqbal
VP, FP&A, and Investor Relations
investors@SI-BONE.com
SI-BONE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts) (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 48,630 | $ | 39,969 | $ | 95,920 | $ | 77,836 | ||||||||
| Cost of goods sold | 9,823 | 8,393 | 19,418 | 16,395 | ||||||||||||
| Gross profit | 38,807 | 31,576 | 76,502 | 61,441 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Sales and marketing | 30,781 | 28,970 | 61,462 | 58,357 | ||||||||||||
| Research and development | 4,309 | 4,352 | 8,843 | 8,697 | ||||||||||||
| General and administrative | 10,721 | 8,332 | 20,681 | 16,508 | ||||||||||||
| Total operating expenses | 45,811 | 41,654 | 90,986 | 83,562 | ||||||||||||
| Loss from operations | (7,004 | ) | (10,078 | ) | (14,484 | ) | (22,121 | ) | ||||||||
| Interest and other income (expense), net: | ||||||||||||||||
| Interest income | 1,520 | 2,015 | 3,112 | 4,128 | ||||||||||||
| Interest expense | (666 | ) | (880 | ) | (1,328 | ) | (1,761 | ) | ||||||||
| Other income (expense) | (2 | ) | 4 | 6 | (89 | ) | ||||||||||
| Net loss | $ | (6,152 | ) | $ | (8,939 | ) | $ | (12,694 | ) | $ | (19,843 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.14 | ) | $ | (0.22 | ) | $ | (0.30 | ) | $ | (0.48 | ) | ||||
| Weighted-average number of common shares used to compute basic and diluted net loss per share | 42,788,123 | 41,317,627 | 42,564,158 | 41,126,009 | ||||||||||||
| SI-BONE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 34,150 | $ | 34,948 | ||||
| Short-term investments | 111,394 | 115,094 | ||||||
| Accounts receivable | 24,371 | 27,459 | ||||||
| Inventory | 34,245 | 27,074 | ||||||
| Prepaid expenses and other current assets | 3,289 | 3,204 | ||||||
| Total current assets | 207,449 | 207,779 | ||||||
| Property and equipment, net | 21,701 | 20,374 | ||||||
| Operating lease right-of-use assets | 1,465 | 1,984 | ||||||
| Other non-current assets | 306 | 300 | ||||||
| TOTAL ASSETS | $ | 230,921 | $ | 230,437 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 7,495 | $ | 6,488 | ||||
| Accrued liabilities and other | 16,149 | 19,492 | ||||||
| Operating lease liabilities, current portion | 1,106 | 1,152 | ||||||
| Total current liabilities | 24,750 | 27,132 | ||||||
| Long-term borrowings | 35,510 | 35,452 | ||||||
| Operating lease liabilities, net of current portion | 318 | 879 | ||||||
| Other long-term liabilities | — | 10 | ||||||
| TOTAL LIABILITIES | 60,578 | 63,473 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Common stock | 4 | 4 | ||||||
| Additional paid-in capital | 613,727 | 598,070 | ||||||
| Accumulated other comprehensive income | 660 | 244 | ||||||
| Accumulated deficit | (444,048 | ) | (431,354 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 170,343 | 166,964 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 230,921 | $ | 230,437 | ||||
| SI-BONE, INC. RECONCILIATION OF NET LOSS TO NON-GAAP ADJUSTED EBITDA (In thousands) (unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (6,152 | ) | $ | (8,939 | ) | $ | (12,694 | ) | $ | (19,843 | ) | ||||
| Interest income | (1,520 | ) | (2,015 | ) | (3,112 | ) | (4,128 | ) | ||||||||
| Interest expense | 666 | 880 | 1,328 | 1,761 | ||||||||||||
| Depreciation and amortization | 1,368 | 992 | 2,646 | 2,081 | ||||||||||||
| Stock-based compensation | 6,658 | 6,398 | 13,321 | 13,428 | ||||||||||||
| Adjusted EBITDA | $ | 1,020 | $ | (2,684 | ) | $ | 1,489 | $ | (6,701 | ) | ||||||
FAQ
What were SI-BONE (SIBN) second-quarter 2025 revenue and growth?
Did SI-BONE report positive adjusted EBITDA in Q2 2025?
What is SI-BONE's updated fiscal 2025 revenue guidance?
How did SI-BONE's cash position change in Q2 2025?
What operational growth metrics did SI-BONE report for Q2 2025?
