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SI-BONE, Inc. (NASDAQ: SIBN) is a leading medical device company specializing in the development and commercialization of innovative, minimally invasive surgical implants for the treatment of musculoskeletal disorders, particularly those affecting the sacroiliac (SI) joint. The company's flagship product, the iFuse Implant System®, offers a less invasive alternative to traditional SI joint fusion surgery. This patented system has been used in over 25,000 procedures, providing a significant improvement in patient outcomes.
SI-BONE's portfolio includes a range of patented titanium implants and instruments specifically designed for sacroiliac fusion. Key products include iFuse-3D, iFuse-TORQ, and iFuse Bedrock Granite. These implants are employed in the management of sacroiliac joint dysfunction, adult spinal deformity, degeneration, and pelvic trauma.
The company has achieved several milestones in recent years. Notably, the iFuse Bedrock Granite implant received FDA clearance in May 2022 and was designated a Breakthrough Device due to its significant advantages over existing alternatives. Subsequently, the Centers for Medicare & Medicaid Services (CMS) adopted a New Technology Add-on Payment of up to $9,828 per procedure for this innovative implant.
SI-BONE is managed by an experienced leadership team with backgrounds in top-tier companies like Kyphon, Medtronic, and Inbone. This expertise has driven the company's growth and innovation in the orthopedic field.
In terms of financial performance, SI-BONE has shown robust growth. The company's annual revenue guidance has been increased to $164 million - $166 million, indicating an annual growth rate of approximately 18%-20%. This growth is fueled by the strong reception of new products and established partnerships with major healthcare providers, including compatibility with Medtronic's Solera® rods.
Since its inception in 2009, SI-BONE has supported over 3,000 surgeons in performing more than 80,000 sacropelvic procedures. The company's technologies are backed by a unique body of clinical evidence, including two randomized controlled trials and over 120 peer-reviewed publications.
For more information on SI-BONE and its range of products, visit the official website at www.si-bone.com.
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.
SI-BONE, Inc. (Nasdaq: SIBN) will report its Q1 2022 financial results on May 9, 2022, after market close. A conference call will follow at 1:30 p.m. PT, with access for investors via phone or webcast. As a leader in surgical treatment for sacropelvic disorders, SI-BONE's iFuse Implant System has facilitated over 65,000 SI joint fusion procedures, supported by extensive clinical evidence and insurance coverage. The company continues to leverage its market position to develop additional surgical devices.
SI-BONE, Inc. (Nasdaq:SIBN) reported financial results for Q4 and the full year 2021. Q4 revenue reached $25.2 million, a 14% increase year-over-year, while full-year revenue totaled $90.2 million, up 23% from 2020. U.S. revenue also grew by 13% and 21% for the respective periods. Despite impressive growth, gross margins fell to 87% in Q4 and operating loss rose to $13.9 million. For 2022, SI-BONE anticipates total revenue of $106 million to $108 million, projecting 18% to 20% growth over 2021.
SI-BONE, Inc. (NASDAQ: SIBN) is set to report its financial results for Q4 and the full year of 2021 on February 28, 2022, after market close. A corresponding conference call will begin at 1:30 PM PT, accessible via phone or webcast. The company specializes in surgical treatments for sacropelvic disorders and has established a significant presence with its iFuse Implant System, used in over 65,000 procedures. SI-BONE continues to leverage its market position to explore additional surgical solutions while ensuring insurance coverage for its procedures.
SI-BONE, Inc. announced preliminary unaudited revenue for 2021, ranging from $89.8 million to $90.1 million, reflecting a growth of 22%-23% year-over-year. The fourth quarter is expected to generate $24.9 million to $25.2 million, marking a 13%-14% increase compared to 2020. U.S. revenues are projected at $82.5 million to $82.7 million, with international revenues at $7.3 million to $7.4 million. Cash and marketable securities are estimated at $146 million as of December 31, 2021. Final results will be disclosed in February 2022.
SI-BONE, a leader in surgical treatments for musculoskeletal disorders, announced participation in the 24th Annual Needham Virtual Growth Conference on January 12, 2022, at 5:00 p.m. ET. The conference highlights the company’s innovative iFuse Implant System, which addresses SI joint pain affecting 15%-30% of chronic low back pain patients. With over 60,000 procedures performed by more than 2,500 surgeons, the iFuse system is supported by significant clinical evidence and insurance coverage. For more information, visit www.si-bone.com.
Mainstay Medical Holdings plc has appointed Jeffrey Dunn and Eric Major as independent board members, expanding the board to seven members. Dunn, the Executive Chairman of SI-BONE, Inc. (SIBN), brings extensive experience from leading the launch of a minimally invasive surgical implant system and navigating a successful IPO. Major co-founded K2M Group and led it to significant revenue and an acquisition by Stryker. Both directors will enhance Mainstay's strategic direction in commercial growth, especially for the ReActiv8 device targeting chronic low back pain.
SI-BONE, Inc. (Nasdaq: SIBN) announced that the Blue Cross Blue Shield Association's annual technology review confirms that only the iFuse Transiliac Triangular Implants are authorized for treating SI joint pain. This follows Arkansas Blue Cross Blue Shield's policy update to cover only SI joint fusion using these implants, aligning with other BCBSA plans. Jeffrey Zigler, VP of Market Access and Reimbursement, emphasized that iFuse is now distinguished from other implants, marking a significant advancement in patient care and reimbursement for SI joint procedures.
SI-BONE, Inc. (SIBN) reported a record worldwide revenue of $22.3 million for Q3 2021, an increase of 9% year-over-year. U.S. revenue reached $20.4 million, up 8% from the previous year. The gross margin improved to 89%. Operating expenses rose 25% to $33 million, primarily due to increased sales and marketing costs. The operating loss expanded to $13.2 million, and the net loss was $15.9 million, or $0.48 per diluted share. The company updated its 2021 revenue guidance to approximately $89 million to $90 million, reflecting a projected growth of 21% to 23%.
SI-BONE, Inc. (Nasdaq: SIBN), a leader in medical technology for musculoskeletal disorders, will release its Q3 2021 financial results on November 8, 2021, after market close. A conference call to discuss these results will begin at 1:30 p.m. PT. Interested investors can join by dialing (866) 470-1968 domestically or (409) 217-8248 internationally, with conference ID: 4991983. Additionally, a live webcast will be available on the company’s website and archived for 90 days.
SI-BONE is well-regarded for its iFuse Implant System, used in over 60,000 procedures.
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