Welcome to our dedicated page for Shoulder Innovations SEC filings (Ticker: SI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Shoulder Innovations filings document a Delaware medical technology issuer focused on shoulder arthroplasty implants and related surgical-care technologies. Form 8-K reports cover operating results, Regulation FD disclosures, product-launch announcements, FDA-cleared indications, strategic partnership announcements, and material agreements tied to corporate facilities.
Governance filings include the definitive proxy statement for the annual meeting, director elections, board committee matters, non-employee director compensation, and stockholder voting procedures. Current reports also record director appointments, resignations, independence determinations, indemnification arrangements and other corporate-governance events.
Shoulder Innovations, Inc. received a Schedule 13G reporting significant ownership by Lightstone-affiliated entities. LSV Associates II, LLC, together with Lightstone Ventures II, L.P. and Lightstone Ventures II (A), L.P., reported beneficial ownership of 1,885,136 shares of common stock, representing 9.3% of the class as of September 30, 2025. The filing notes the Reporting Persons expressly disclaim status as a group.
Within the total, Lightstone Ventures II, L.P. holds 1,781,479 shares (8.7%) and Lightstone Ventures II (A), L.P. holds 103,657 shares (0.5%). Percentages are based on 20,359,960 shares outstanding as of September 3, 2025. LSV Associates II serves as general partner and has voting and investment authority; Michael A. Carusi, Jean George, and Henry A. Plain Jr. share voting and investment authority over the same 1,885,136 shares.
Shoulder Innovations, Inc. received a Schedule 13G reporting significant beneficial ownership by entities affiliated with U.S. Venture Partners and Casey M. Tansey as of the event date 09/30/2025.
U.S. Venture Partners XII, L.P. reports beneficial ownership of 1,686,403 shares of common stock, representing 8.2%, with shared voting and dispositive power over those shares. Presidio Management Group XII, L.L.C. reports 2,693,121 shares (13.1%) with shared voting and dispositive power. Casey M. Tansey reports an aggregate 2,740,787 shares (13.3%), including 47,666 shares with sole voting and dispositive power and 2,693,121 shares with shared power.
Percentages are based on 20,601,684 shares outstanding as of November 5, 2025, as reported by the company in its Form 10-Q filed November 12, 2025.
Shoulder Innovations, Inc. received a Schedule 13G from cultivate(MD) Holdings, LLC and affiliated individuals disclosing beneficial ownership of 1,363,394 shares of common stock, representing 6.7% of the class as of 09/30/2025.
The filing attributes the shares to four investment vehicles: CMD I (185,623 shares), CMD II (309,948), Genesis Investment Holdings (592,585), and CMD Accelerator (275,238). cultivate(MD) Holdings is the general partner or manager of these entities and is described as having voting and dispositive power over their holdings. Directors David Lawrence Blue, Matthew Fraser Ahearn, Robert Joseph Ball, and managing director R. Sean Churchill are listed as Reporting Persons and disclaim beneficial ownership except to the extent of any pecuniary interest.
Shoulder Innovations, Inc. reported third‑quarter results, highlighting rapid growth and strengthened liquidity following its IPO. Net revenue reached $11.8 million for the quarter, up 57.7% from a year ago, as more implant systems were sold. Gross profit was $9.0 million with a 76.2% gross margin. The company posted a net loss of $8.7 million, reflecting higher commercial, legal, and public‑company costs.
The balance sheet expanded after the IPO. As of September 30, 2025, cash and cash equivalents were $54.9 million and marketable securities were $82.4 million. Total liabilities were $29.9 million, including long‑term debt of $14.8 million, and stockholders’ equity was $147.8 million. Operating cash outflow for the nine months was $19.8 million, offset by $147.0 million provided by financing activities.
On August 1, 2025, the company closed its IPO, issuing 5,000,000 shares at $15.00 per share for approximately $64.2 million in net proceeds. Immediately before closing, all preferred shares and $40.0 million of convertible notes converted into common stock, simplifying the capital structure and increasing the public float.
Shoulder Innovations (SI) filed an 8‑K reporting its quarterly results disclosure. The company announced that it issued a press release with financial results for the quarter ended September 30, 2025 and hosted a conference call on November 11, 2025 to discuss those results and full‑year 2025 guidance.
The press release is furnished as Exhibit 99.1 and the call transcript as Exhibit 99.2. The materials are being furnished, not filed, under the Exchange Act and are not subject to Section 18 liabilities, nor incorporated by reference unless specifically referenced.
Jeffrey S. Points, Chief Financial Officer of Shoulder Innovations, Inc. (SI), reported multiple transactions in September 2025. On 09/11/2025 he was reported as acquiring 13,264 shares (transaction code M) at a price of $2.4804 and a stock option covering 13,264 underlying shares with the same $2.4804 exercise price expiring 11/16/2033. On 09/12/2025 he acquired an additional 1,600 shares at $15.67. After these transactions he beneficially owned 52,445 shares directly and had 50 shares indirectly held by his son. The option vests in 31 equal monthly increments starting March 31, 2025.
Jeffrey S. Points, Chief Financial Officer of Shoulder Innovations, Inc. (SI), reported multiple transactions in September 2025. On 09/11/2025 he was reported as acquiring 13,264 shares (transaction code M) at a price of $2.4804 and a stock option covering 13,264 underlying shares with the same $2.4804 exercise price expiring 11/16/2033. On 09/12/2025 he acquired an additional 1,600 shares at $15.67. After these transactions he beneficially owned 52,445 shares directly and had 50 shares indirectly held by his son. The option vests in 31 equal monthly increments starting March 31, 2025.
Shoulder Innovations, Inc. (SI) Form 4 shows insider David Lawrence Blue, identified as Chief Customer Experience Officer, reported transactions dated 09/12/2025. The filing records two non-derivative acquisitions and corresponding derivative option entries: 78,616 shares acquired at an effective price of $2.0988 and 15,778 shares acquired at $2.4804.
Following these transactions the reporting person beneficially owned 138,331 shares in total. The filing notes the first option is fully vested and exercisable and the second option vests partly (one-fourth on 04/19/2024) with the remainder vesting monthly through May 2033. The form was signed by an attorney-in-fact on 09/15/2025.
Shoulder Innovations, Inc. (SI) Form 4 shows insider David Lawrence Blue, identified as Chief Customer Experience Officer, reported transactions dated 09/12/2025. The filing records two non-derivative acquisitions and corresponding derivative option entries: 78,616 shares acquired at an effective price of $2.0988 and 15,778 shares acquired at $2.4804.
Following these transactions the reporting person beneficially owned 138,331 shares in total. The filing notes the first option is fully vested and exercisable and the second option vests partly (one-fourth on 04/19/2024) with the remainder vesting monthly through May 2033. The form was signed by an attorney-in-fact on 09/15/2025.
Robert Joseph Ball, CEO, Executive Chairman and a director of Shoulder Innovations, Inc. (SI), reported open-market purchases of the company's common stock on two dates in September 2025. On 09/11/2025 he acquired 2,000 shares at a weighted-average price of $14.9048, bringing his direct holdings to 105,259 shares. On 09/12/2025 he acquired 6,000 shares at a weighted-average price of $15.4909, increasing his direct holdings to 111,259 shares.
The filing states the prices are weighted averages from multiple transactions with specified price ranges and was signed by an attorney-in-fact on 09/15/2025. No derivative transactions, disposals, or other material events are reported in this Form 4.
Robert Joseph Ball, CEO, Executive Chairman and a director of Shoulder Innovations, Inc. (SI), reported open-market purchases of the company's common stock on two dates in September 2025. On 09/11/2025 he acquired 2,000 shares at a weighted-average price of $14.9048, bringing his direct holdings to 105,259 shares. On 09/12/2025 he acquired 6,000 shares at a weighted-average price of $15.4909, increasing his direct holdings to 111,259 shares.
The filing states the prices are weighted averages from multiple transactions with specified price ranges and was signed by an attorney-in-fact on 09/15/2025. No derivative transactions, disposals, or other material events are reported in this Form 4.
Matthew Fraser Ahearn, Chief Operating Officer and Director of Shoulder Innovations, Inc. (SI), reported option and related common stock transactions dated 09/11/2025. The filing shows acquisitions of three option tranches exercisable into common stock: 12,286 options at a $0.9349 exercise price, 78,616 options at $2.0988, and 16,443 options at $2.4804. Following these reported transactions, the filing records beneficial ownership rising to 215,379 common shares (direct). The first option tranche is fully vested and exercisable; the third tranche vests one-fourth on April 19, 2024 and the remainder in 36 monthly increments. The form is signed by an attorney-in-fact on 09/15/2025.
Shoulder Innovations, Inc. is a commercial-stage medical device company focused on shoulder arthroplasty. The company completed a Series E preferred financing in 2025 with gross commitments of $40,130 thousand and recognized a $11,719 thousand change in fair value related to the Series E purchase option for the six months ended June 30, 2025. It completed an IPO on August 1, 2025, selling 5,000,000 shares at $15.00 and receiving approximately $64,800 thousand net proceeds. As of June 30, 2025, cash, cash equivalents and marketable securities totaled $39,635 thousand. The company had an accumulated deficit of $80,899 thousand and expects continued losses while scaling commercialization, R&D and regulatory efforts. It amended a loan facility and remains in compliance with covenants. The filing discloses litigation, product liability and regulatory risks and a 1-for-19.08 reverse stock split in July 2025.