The beat-and-raise, coupled with the CMS proposal for a new MS-DRG that could expand reimbursement for iFuse Bedrock Granite, provides a strong catalyst. Monitor the final FY2027 IPPS rule and the upcoming breakthrough device launch for further upside. The stock may gap up on this release.
Price Chart
Executive Summary
SI-BONE reported Q1 2026 revenue of $52.6M (+11.2% YoY), beating the $51.2M consensus, and a GAAP net loss of $0.10/share, beating the $-0.19 consensus. The company raised its full-year 2026 revenue guidance to $230M-$233M (from $228.5M-$232.5M) and increased its gross margin estimate to 79% (from 78%). The beat-and-raise, combined with record physician engagement and a favorable CMS proposal, signals accelerating commercial momentum.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $52.6M, +11.2% YoY, beating $51.2M consensus
- GAAP EPS of -$0.10, beating consensus of -$0.19
- Raised FY2026 revenue guidance to $230M-$233M (prior: $228.5M-$232.5M)
- Raised FY2026 gross margin estimate to 79% (prior: 78%)
- Adjusted EBITDA improved 440% YoY to $2.5M
- Record 1,650+ active U.S. physicians, +17% YoY
- CMS proposed new MS-DRG for complex spinal fusion with iFuse Bedrock Granite
- Cash and equivalents of $144.7M
Financial Impact
Revenue beat by $1.4M (2.7%) vs consensus; EPS beat by $0.09 (47.4%) vs consensus; guidance raised by $1.5M at midpoint
Risk Factors
- CMS proposal is not yet final; could be modified or withdrawn
- Revenue growth decelerated to 11.2% from 15% in Q4 2025 and 20% in FY2025
- Company remains unprofitable on a GAAP basis
- Tariff and supply chain risks noted in forward-looking statements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001459839-26-000054 |
| Document: sibn-20260511.htm | 0001459839-26-000054 |
| Document: 0001459839-26-000054-index-headers.html | 0001459839-26-000054 |
| Document: 0001459839-26-000054-index.html | 0001459839-26-000054 |
| Document: 0001459839-26-000054.txt | 0001459839-26-000054 |
| 8-K Data (Synthetic) | 0001459839-26-000054 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | Press Release | $20.54 | awaiting T+20 | — | $21.31 (+3.75%) |
Oct 13, 2026 13d ago | 144 | $19.68 | awaiting T+20 | — | $21.31 (+8.28%) |
Aug 26, 2026 8w ago | Insider Cluster | $19.20 $18.52 | ▲ +3.54% | ▲ +3.03% | $21.31 (−10.99%) |
Aug 21, 2026 9w ago | Insider Cluster | $19.47 $18.81 | ▲ +3.39% | ▲ +4.70% | $21.31 (−9.45%) |
Aug 21, 2026 9w ago | 144 | $19.47 $18.81 | ▼ −3.39% | ▼ −4.70% | $21.31 (+9.45%) |
Aug 18, 2026 9w ago | Insider Cluster | $19.91 $18.04 | ▼ −9.39% | ▼ −7.44% | $21.31 (+7.03%) |
Aug 18, 2026 9w ago | Insider Cluster | $19.91 $18.04 | ▼ −9.39% | ▼ −7.44% | $21.31 (+7.03%) |
Aug 3, 2026 12w ago | Press Release | $18.44 $18.92 | ▲ +2.60% | ▲ +3.84% | $21.31 (+15.56%) |
Jun 8, 2026 19w ago | Insider Cluster | $15.53 $17.30 | ▲ +11.40% | ▲ +9.95% | $21.31 (+37.22%) |
Jun 8, 2026 20w ago | 8-K | $15.53 $17.30 | ▲ +11.40% | ▲ +9.95% | $21.31 (+37.22%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers