The revenue and EPS beat, combined with reaffirmed guidance and improved operating expense outlook, suggest operational momentum. The new product clearance and favorable DRG changes provide catalysts for 2027. Monitor Q4 procedure volume and initial iFuse Granite Onyx adoption for confirmation of growth trajectory.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 2 $23.77entry
- T+1 · yesterday +4.96%α +3.31% · $24.95
- T+2 · todayOpen
- T+5 · in 5d Pending
- T+20 · in 27d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
SI-BONE reported Q3 2026 revenue of $55.7M (up 14.5% YoY) and a net loss of $0.08 per share, beating consensus estimates of $-0.13 EPS and $55.3M revenue. The company reaffirmed its full-year revenue guidance of $231M-$233M and narrowed operating expense growth expectations to ~10.5%, while highlighting strong procedure volume growth and a new product clearance.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $55.7M, up 14.5% YoY, above consensus of $55.3M
- GAAP net loss of $0.08 per share, improving from a loss of $0.11 per share in Q3 2025, beating consensus of $-0.13
- Positive adjusted EBITDA of $3.0M, up 32.4% YoY
- Positive cash from operations of $5.9M, up 154.4% YoY
- Reaffirmed FY2026 revenue guidance of $231M-$233M and gross margin of ~79.0%
- Reduced operating expense growth expectation to ~10.5% from ~12.0%
- Received 510(k) clearance for iFuse Granite Onyx, a new platform technology targeting a $1.5B annual TAM
- New MS-DRGs effective in October increase hospital inpatient payments by up to ~$50,000 per qualifying procedure for iFuse Bedrock Granite
- U.S. procedure volume grew ~19.5% YoY; active U.S. physicians reached 1,770, up ~16% YoY
Financial Impact
Revenue beat consensus by $0.4M (0.7%); EPS beat consensus by $0.05 (38.5%); operating loss improved 19.2% YoY to $4.4M; net loss improved 20.7% YoY to $3.6M
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| U.S. | $52.8M | +13.9% |
| International | $2.9M | +27.0% |
Risk Factors
- Lower average selling price due to procedure mix and shift to office-based/ASC sites of care could pressure gross margin
- Forward-looking statements subject to risks including new product commercialization, reimbursement changes, and economic conditions
- Operating expenses continue to grow (9.7% YoY), though at a slower pace than previously expected
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3393742 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | Insider Cluster | $24.00 | awaiting T+20 | awaiting T+20 | $24.95 (+3.96%) |
Nov 4, 2026 today | 144 | $24.00 | awaiting T+20 | awaiting T+20 | $24.95 (+3.96%) |
Nov 4, 2026 today | 144 | $24.00 | awaiting T+20 | awaiting T+20 | $24.95 (+3.96%) |
Nov 4, 2026 today | 144 | $24.00 | awaiting T+20 | awaiting T+20 | $24.95 (+3.96%) |
Nov 2, 2026 2d ago | Insider Cluster | $23.77 | awaiting T+20 | awaiting T+20 | $24.95 (+4.96%) |
Nov 2, 2026 2d ago | 8-K | No price | awaiting T+20 | awaiting T+20 | No price |
Nov 2, 2026 2d ago | Press Release | $23.77 | awaiting T+20 | awaiting T+20 | $24.95 (+4.96%) |
Oct 29, 2026 6d ago | 144 | $21.23 | awaiting T+20 | awaiting T+20 | $24.95 (+17.52%) |
Oct 29, 2026 6d ago | 144 | $21.23 | awaiting T+20 | awaiting T+20 | $24.95 (+17.52%) |
Oct 19, 2026 16d ago | Press Release | $20.54 | awaiting T+20 | awaiting T+20 | $24.95 (+21.47%) |
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