Breaking Down SI-BONE, Inc. (SIBN) Financial Health: Key Insights for Investors

As an investor, are you keeping a close watch on SI-BONE, Inc. (SIBN)? With a dedicated focus on solving sacropelvic disorders, the company's financial trajectory is increasingly important. In the second quarter of 2024, SI-BONE reported worldwide revenue of $40.0 million, marking a growth of approximately 20%. Furthermore, the company is updating its 2024 worldwide revenue guidance to be in the range of $165 million to $167 million, an increase from the previous guidance of $164 million to $166 million. But what does this mean for its overall financial health and future prospects? Let's delve into the key insights that can help you make informed decisions.

SI-BONE, Inc. (SIBN) Revenue Analysis

Understanding SI-BONE, Inc.'s revenue streams involves examining where the company's income originates and how these sources have changed over time. A detailed look at the company's revenue composition and growth trends provides valuable insights into its financial health and market performance. For further information about SI-BONE, Inc. (SIBN) investor profile, see Exploring SI-BONE, Inc. (SIBN) Investor Profile: Who’s Buying and Why?

SI-BONE, Inc. primarily generates revenue through the sale of its iFuse Implant System and related instruments. These are used in minimally invasive surgical procedures to treat sacroiliac joint dysfunction. Analyzing the geographical distribution of sales, such as domestic versus international, can further clarify revenue sources.

Assessing SI-BONE, Inc.'s year-over-year revenue growth rate is crucial for investors. Here's what to consider:

• Historical Trends: Reviewing several years of revenue data to identify consistent growth patterns or fluctuations.
• Percentage Increase/Decrease: Calculating the exact percentage change in revenue from one year to the next to quantify growth.
• Recent Performance: According to the SI-BONE, Inc. Form 10K filed March 14, 2025, preliminary revenue for 2024 was approximately $161.6 million, representing growth of approximately 16.9% over 2023.

Understanding the contribution of different business segments to SI-BONE, Inc.'s overall revenue helps to pinpoint which areas are most critical to the company's financial success. For SI-BONE, substantially all of their revenue is derived from sales of the iFuse Implant System.

Significant changes in SI-BONE, Inc.'s revenue streams should be carefully analyzed to understand their potential impact. Here are some factors to consider:

• New Product Launches: Introduction of new products or services and their impact on revenue.
• Market Expansion: Entry into new geographical markets and the resulting revenue contributions.
• Regulatory Changes: Changes in healthcare regulations affecting product sales or reimbursement rates.
• Competitive Landscape: Impact of new competitors or changes in market share on revenue.

To illustrate, consider this hypothetical breakdown of SI-BONE, Inc.'s revenue based on available information and typical business segment analysis:

Analyzing SI-BONE, Inc.'s revenue streams provides a comprehensive understanding of where the company generates its income, how its revenue has grown, and the factors influencing its financial performance. This information is essential for investors looking to make informed decisions about the company.

SI-BONE, Inc. (SIBN) Profitability Metrics

Analyzing SI-BONE, Inc.'s (SIBN) profitability involves examining its gross profit, operating profit, and net profit margins to understand its financial health and operational efficiency. These metrics reveal how effectively the company manages its costs and generates profit from its revenue.

Here's a breakdown of key profitability aspects:

• Gross Profit: Assesses the company's efficiency in managing production costs.
• Operating Profit: Indicates profitability from core business operations, excluding interest and taxes.
• Net Profit: Represents the actual profit after all expenses, including interest and taxes, are paid.

To provide a clear picture of SI-BONE, Inc.'s (SIBN) profitability, here's a summarized table based on the available data:

Understanding these trends and comparing them against industry averages can provide valuable insights into SI-BONE, Inc.'s (SIBN) competitive positioning and overall financial performance. Remember, you can explore more about the company's goals at: Mission Statement, Vision, & Core Values of SI-BONE, Inc. (SIBN).

SI-BONE, Inc. (SIBN) Debt vs. Equity Structure

Understanding SI-BONE, Inc.'s financial strategies requires a close look at its debt and equity structure. This involves analyzing the levels of debt the company carries, how it compares to industry standards, and how SI-BONE, Inc. balances debt and equity to fund its operations and growth.

As of fiscal year 2024, SI-BONE, Inc.'s financial statements provide key insights:

• Long-term and Short-term Debt: SI-BONE, Inc. has a total debt of $44.94 million. This consists entirely of long-term debt, as there is no short-term debt reported.
• Debt-to-Equity Ratio: The company's debt-to-equity ratio stands at -2.36 as of December 31, 2024. This negative ratio indicates that SI-BONE, Inc. has more equity than debt, suggesting a strong equity position.

The debt-to-equity ratio is a critical metric for investors. It offers a glimpse into the company's financial leverage and risk. A lower ratio usually indicates less risk, as the company relies more on equity than debt to finance its assets. However, a negative ratio, as in SI-BONE, Inc.'s case, suggests the company's equity surpasses its total debt.

Recent activities, such as debt issuances or refinancing, can significantly impact SI-BONE, Inc.'s capital structure. Monitoring these activities provides insight into the company's strategic financial decisions and its ability to manage its debt obligations.

Balancing debt and equity is crucial for SI-BONE, Inc.. While debt can provide capital for expansion and operational needs, excessive debt can increase financial risk. Equity, on the other hand, provides a stable financial base without the obligation of repayment. SI-BONE, Inc.'s approach to balancing these two elements impacts its financial stability and growth potential.

For further insights into SI-BONE, Inc.'s financial health, check out: Breaking Down SI-BONE, Inc. (SIBN) Financial Health: Key Insights for Investors

SI-BONE, Inc. (SIBN) Liquidity and Solvency

When evaluating SI-BONE, Inc.'s financial health, understanding its liquidity and solvency is crucial for investors. Liquidity refers to the company's ability to meet its short-term obligations, while solvency assesses its ability to meet long-term obligations.

Assessing SI-BONE, Inc.'s Liquidity:

Several key metrics help in assessing SI-BONE, Inc.'s liquidity position:

• Current Ratio: The current ratio is calculated by dividing current assets by current liabilities. It indicates whether a company has enough short-term assets to cover its short-term liabilities.
• Quick Ratio: The quick ratio, also known as the acid-test ratio, is a more conservative measure of liquidity than the current ratio. It excludes inventories from current assets, as inventories are not always easily converted into cash.
• Working Capital: Working capital is the difference between a company's current assets and current liabilities. It represents the amount of liquid assets available to fund day-to-day operations.

Based on SI-BONE, Inc.'s financial data for the fiscal year 2024, here's an overview of its liquidity position:

The current ratio of 2.72 and quick ratio of 2.26 suggest a strong liquidity position. Furthermore, a working capital of $69.9 million indicates that SI-BONE, Inc. has sufficient liquid assets to cover its short-term obligations and fund its operations effectively.

Cash Flow Statements Overview:

Analyzing SI-BONE, Inc.'s cash flow statements provides insights into the company's cash generation and usage. The cash flow statement is divided into three main sections:

• Operating Activities: Cash flow from operating activities reflects the cash generated or used from the company's core business operations.
• Investing Activities: Cash flow from investing activities includes cash used for investments in assets, such as property, plant, and equipment (PP&E).
• Financing Activities: Cash flow from financing activities involves cash flows related to debt, equity, and dividends.

Here's a summary of SI-BONE, Inc.'s cash flow trends for the fiscal year 2024:

SI-BONE, Inc. experienced negative cash flow from operating activities of -$21.9 million in 2024, indicating that its core business operations used more cash than they generated. Investing activities resulted in a cash outflow of -$1.3 million, primarily due to investments in PP&E. However, financing activities provided a cash inflow of $2.4 million, mainly from proceeds from the exercise of stock options.

Potential Liquidity Concerns or Strengths:

• Strengths: SI-BONE, Inc. maintains a robust liquidity position with healthy current and quick ratios. The company's significant working capital provides a cushion for operational needs.
• Concerns: The negative cash flow from operating activities is a potential concern. SI-BONE, Inc. needs to improve its operational efficiency to generate positive cash flow from its core business.

For more in-depth insights into SI-BONE, Inc. and its investors, check out: Exploring SI-BONE, Inc. (SIBN) Investor Profile: Who’s Buying and Why?

SI-BONE, Inc. (SIBN) Valuation Analysis

Determining whether SI-BONE, Inc. (SIBN) is overvalued or undervalued requires a multifaceted approach, considering various financial ratios, stock performance, and analyst expectations. Here’s a breakdown to aid investors:

Valuation Ratios:

• Price-to-Earnings (P/E) Ratio: As of March 27, 2025, the P/E ratio for SI-BONE Inc. (SIBN) is -18.72. This indicates an increase of 20.31% compared to its 12-month average of -15.56. Note that negative P/E ratios occur when a company has negative earnings.
  
• Price-to-Book (P/B) Ratio: The Price-to-Book ratio is 3.77. This ratio compares a company's market capitalization to its book value.
• Enterprise Value-to-EBITDA (EV/EBITDA): The EV/EBITDA ratio for SI-BONE is -19.54 as of September 2024.
• Price-to-Sales (P/S) Ratio: The P/S ratio as of March 2025 is 3.73.

Stock Price Trends:

• The stock's 52-week range has been between $11.70 and $19.16.
• As of April 17, 2025, the stock price is $13.85.
• The stock price has decreased by -11.25% in the last 52 weeks.

Analyst Consensus:

• The consensus rating from 12 analysts is 'Strong Buy' as of April 18, 2025.
• Analysts' 12-month price targets show an average target of $24.44.
• The high estimate is $32.00, while the low estimate is $19.00.

Additional Factors:

• Revenue Growth: SI-BONE reported a 26% year-over-year increase in revenue for 4Q24, totaling $49.0 million.
• Gross Margin: The company's gross margin improved to 79.1% in 4Q24.

Here is a table summarizing key valuation metrics for SI-BONE, Inc. (SIBN):

Considering these factors, SI-BONE appears to have strong growth potential according to analyst ratings and revenue increases. However, negative earnings and some negative valuation ratios suggest caution. Also, explore Exploring SI-BONE, Inc. (SIBN) Investor Profile: Who’s Buying and Why?

Wall Street analysts have set a price target of $27.42, reflecting a 0.00% increase from the current stock price.

Morningstar suggests SIBN is trading within a range we consider fairly valued.

According to 6 analysts, the average rating for SIBN stock is 'Strong Buy.' The 12-month stock price forecast is $24.5, which is an increase of 75.94% from the latest price.

SI-BONE's Enterprise Value is $569.2 Mil. SI-BONE's EBIT for the trailing twelve months (TTM) ended in Sep. 2024 was $-33.9 Mil. Therefore, SI-BONE's EV-to-EBIT ratio is -16.81.

SI-BONE's EBITDA for the trailing twelve months (TTM) ended in Sep. 2024 was $-29.1 Mil. Therefore, SI-BONE's EV-to-EBITDA ratio is -19.54.

SI-BONE's Revenue for the trailing twelve months (TTM) ended in Sep. 2024 was $157.0 Mil. Therefore, SI-BONE's EV-to-Revenue ratio is 3.62.

SI-BONE has been analyzed by 12 analysts, with a consensus rating of Strong Buy. 58% of analysts recommend a Strong Buy, 42% recommend Buy, 0% suggest Holding, 0% advise Selling, and 0% predict a Strong Sell.

SI-BONE reported total revenue of $49.0 million for 4Q24, representing a 26% year-over-year increase, aligned with the company's preannounced figures. The company's active surgeon count rose approximately 23% year-over-year to around 1,400, reflecting a significant increase in physician engagement and procedural volume.

The consensus price target is $24.82 based on the ratings of 11 analysts. The high is $32 issued by Citizens Capital Markets on February 25, 2025. The low is $19 issued by Morgan Stanley on August 6, 2024.

SI-BONE's revenue was $167.18 million in 2024, an increase of 20.37% compared to the previous year's $138.89 million. Losses were -$30.91 million, -28.67% less than in 2023.

The latest P/E ratio of SI-BONE Inc (SIBN) is -18.72 as of Mar 27, 2025.

SI-Bone's free cash flow for Q4 2024 was $0.79.

SIBN's free cash flow for the 2024 fiscal year was decreased by $ and operating cash flow was $-0.08.

SI-BONE has a market cap or net worth of $596.04 million. The enterprise value is $483.48 million.

SI-BONE has 42.45 million shares outstanding. The number of shares has increased by 7.91% in one year.

The stock price has decreased by -11.25% in the last 52 weeks.

The analysts' price targets is $19.00 low, $24.44 average, and $32.00 high.

SI-BONE, Inc. (SIBN) Risk Factors

Several factors could significantly impact SI-BONE, Inc.'s (SIBN) financial health. These risks span internal operational challenges and external market dynamics. Understanding these potential pitfalls is crucial for investors.

Here's an overview of key risks:

• Industry Competition: The medical device industry is intensely competitive. SI-BONE, Inc. (SIBN) faces competition from established players and new entrants, which could put pressure on pricing and market share.
• Regulatory Changes: Medical device companies are subject to strict regulations. Changes in these regulations can increase compliance costs and delay product approvals, affecting financial performance.
• Market Conditions: Economic downturns or shifts in healthcare spending can reduce demand for SI-BONE, Inc.'s (SIBN) products, impacting revenue and profitability.

Operational, financial, and strategic risks can be gleaned from recent earnings reports and filings. While specific details fluctuate, common themes include:

• Sales Fluctuations: SI-BONE, Inc. (SIBN) has experienced variability in sales, influenced by factors such as seasonality, market acceptance of new products, and the timing of large orders.
• Gross Margin Pressures: Maintaining healthy gross margins is vital. Increased manufacturing costs, pricing pressures, or unfavorable product mix could erode profitability.
• Cash Flow Management: Effective management of cash flow is essential for funding operations and investments. Shortfalls in cash flow could limit growth opportunities.

Mitigation strategies and plans are often discussed in company filings. Examples of such strategies include:

• Diversification: Expanding into new markets or product lines to reduce reliance on existing revenue streams.
• Cost Control: Implementing measures to streamline operations and reduce expenses.
• Strategic Partnerships: Collaborating with other companies to leverage their expertise and resources.

For instance, SI-BONE, Inc. (SIBN) might address sales fluctuations by:

• Expanding their sales force and distribution networks.
• Investing in marketing and promotional activities.
• Developing new products to meet evolving market needs.

To mitigate gross margin pressures, SI-BONE, Inc. (SIBN) could:

• Negotiate better pricing with suppliers.
• Improve manufacturing efficiency.
• Introduce higher-margin products.

Effective cash flow management might involve:

• Optimizing inventory levels.
• Accelerating accounts receivable collections.
• Carefully managing capital expenditures.

A SWOT analysis can provide additional insight. While I don't have access to a real-time SWOT analysis, a general framework would consider:

Understanding these risks and mitigation strategies is vital for investors assessing SI-BONE, Inc.'s (SIBN) long-term financial health and potential.

Explore Mission Statement, Vision, & Core Values of SI-BONE, Inc. (SIBN).

SI-BONE, Inc. (SIBN) Growth Opportunities

SI-BONE, Inc. (SIBN) is focusing on several key strategies to drive future growth. These include product innovations, market expansion, strategic partnerships, and leveraging their competitive advantages.

Key growth drivers for SI-BONE, Inc. (SIBN) include:

• Product Innovations: Development and launch of new products and enhancements to existing ones to address a broader range of patient needs.
• Market Expansion: Increasing market penetration in the U.S. and expanding into international markets.
• Strategic Partnerships: Collaborating with other healthcare providers and organizations to expand reach and improve patient outcomes.

While specific future revenue growth projections and earnings estimates aren't available, several strategic initiatives show promise for SI-BONE, Inc. (SIBN):

• iFuse Bedrock Granite Implant: Continued adoption of this product, which offers a unique approach to sacroiliac joint fusion.
• Global Expansion: Focusing on expanding the company's footprint outside the U.S.
• Clinical Research: Investment in clinical studies to demonstrate the long-term benefits of SI-BONE, Inc. (SIBN)'s products and procedures.

SI-BONE, Inc. (SIBN) possesses several competitive advantages that position it for growth:

• Proprietary Technology: Patented technology and innovative products provide a competitive edge.
• Clinical Evidence: A strong body of clinical evidence supports the effectiveness of SI-BONE, Inc. (SIBN)'s products.
• Specialized Focus: Focus on the sacroiliac joint provides deep expertise and a strong brand reputation.

For more information about the company's goals, check this link: Mission Statement, Vision, & Core Values of SI-BONE, Inc. (SIBN).