Overview
2008Founded1
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- TickerSIBN on Nasdaq1
- IndustrySurgical & Medical Instruments & Apparatus1
- HeadquartersSan Jose1
- Websitesi-bone.com
- Legal formDelaware corporation1
- Incorporated inDE4
- Business address471 El Camino Real, Suite 101, Santa Clara, Ca 950504
- Filer categoryLarge accelerated filer4
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
79.6%Gross margin5
-11.1%Operating margin5
-9.4%Net margin5
20.2%Revenue growth, 20255
-10.6%Return on equity5
0.20×Debt to equity5
-$9.1MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
United States brought in 95% of the revenue SI-Bone (United States) broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $130.6M | $158.4M | $191.1M |
| Outside the United States | $8.3M | $8.8M | $9.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue20¢$41.0M
- Research and development9¢$17.4M
- Other costs71¢$142.4M
Out of $200.9M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $200.9M | $167.2M | $138.9M |
| Cost of goods sold | $41.0M | $35.1M | $29.5M |
| Gross profit | $159.9M | $132.1M | $109.4M |
| Sales and marketing | $124.2M | $117.1M | $110.3M |
| Research and development | $17.4M | $16.6M | $15.0M |
| General and administrative | $40.5M | $33.8M | $31.1M |
| Total operating expenses | $182.2M | $167.4M | $156.4M |
| Loss from operations | -$22.3M | -$35.2M | -$46.9M |
| Interest income | $6.1M | $7.8M | $6.9M |
| Interest expense | -$2.6M | -$3.4M | -$3.5M |
| Other income (expense), net | -$20.0K | -$73.0K | $141.0K |
| Net loss | -$18.9M | -$30.9M | -$43.3M |
| Unrealized gain (loss) of marketable securities | $13.0K | $26.0K | $166.0K |
| Changes in foreign currency translation | $559.0K | -$117.0K | -$63.0K |
| Comprehensive loss | -$18.3M | -$31.0M | -$43.2M |
| Net loss per share, basic (in dollars per share) | -$0.44 | -$0.75 | -$1.13 |
| Net loss per share, diluted (in dollars per share) | -$0.44 | -$0.75 | -$1.13 |
| Weighted-average number of common shares used to compute basic net loss per share (in shares) | 43.0M shares | 41.5M shares | 38.4M shares |
| Weighted-average number of common shares used to compute diluted net loss per share (in shares) | 43.0M shares | 41.5M shares | 38.4M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2024-06-30 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $42.2M | $34.9M | |||
| Short-term investments | $105.6M | $115.1M | |||
| Accounts receivable, net of allowance for credit losses of $1,013 and $588, respectively | $29.9M | $27.5M | |||
| Inventory | $33.9M | $27.1M | |||
| Prepaid expenses and other current assets | $4.5M | $3.2M | |||
| Total current assets | $216.1M | $207.8M | |||
| Property and equipment, net | $21.3M | $20.4M | |||
| Operating lease right-of-use assets | $1.1M | $2.0M | |||
| Other non-current assets | $55.0K | $300.0K | |||
| TOTAL ASSETS | $238.6M | $230.4M | |||
| Accounts payable | $4.6M | $6.5M | |||
| Accrued liabilities and other | $19.7M | $19.5M | |||
| Operating lease liabilities, current portion | $944.0K | $1.2M | |||
| Total current liabilities | $25.3M | $27.1M | |||
| Long-term borrowings | $35.6M | $35.5M | |||
| Operating lease liabilities, net of current portion | $175.0K | $879.0K | |||
| Other long-term liabilities | $0 | $10.0K | |||
| TOTAL LIABILITIES | $61.0M | $63.5M | |||
| Preferred stock, $0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding | $0 | $0 | |||
| Common stock, $0.0001 par value; 100,000,000 shares authorized; 43,647,131 and 42,086,477 shares issued and outstanding, respectively | $4.0K | $4.0K | |||
| Additional paid-in capital | $627.0M | $598.1M | |||
| Accumulated other comprehensive income | $816.0K | $244.0K | |||
| Accumulated deficit | -$450.3M | -$431.4M | |||
| TOTAL STOCKHOLDERS EQUITY | $177.5M | $167.0M | $169.4M | $98.3M | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $238.6M | $230.4M | |||
| Allowance for doubtful accounts | $1.0M | $588.0K | |||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Preferred stock authorized (in shares) | 5.0M shares | 5.0M shares | 5.0M shares | ||
| Preferred stock issued (in shares) | 0 shares | 0 shares | |||
| Preferred stock outstanding (in shares) | 0 shares | 0 shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock authorized (in shares) | 100.0M shares | 100.0M shares | 100.0M shares | ||
| Common stock issued (in shares) | 43.6M shares | 42.1M shares | |||
| Common stock outstanding (in shares) | 43.6M shares | 42.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-06-30 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $42.2M | $34.9M | |||
| Short-term investments | $105.6M | $115.1M | |||
| Accounts receivable, net of allowance for credit losses of $1,013 and $588, respectively | $29.9M | $27.5M | |||
| Inventory | $33.9M | $27.1M | |||
| Prepaid expenses and other current assets | $4.5M | $3.2M | |||
| Total current assets | $216.1M | $207.8M | |||
| Property and equipment, net | $21.3M | $20.4M | |||
| Operating lease right-of-use assets | $1.1M | $2.0M | |||
| Other non-current assets | $55.0K | $300.0K | |||
| TOTAL ASSETS | $238.6M | $230.4M | |||
| Accounts payable | $4.6M | $6.5M | |||
| Accrued liabilities and other | $19.7M | $19.5M | |||
| Operating lease liabilities, current portion | $944.0K | $1.2M | |||
| Total current liabilities | $25.3M | $27.1M | |||
| Long-term borrowings | $35.6M | $35.5M | |||
| Operating lease liabilities, net of current portion | $175.0K | $879.0K | |||
| Other long-term liabilities | $0 | $10.0K | |||
| TOTAL LIABILITIES | $61.0M | $63.5M | |||
| Preferred stock, $0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding | $0 | $0 | |||
| Common stock, $0.0001 par value; 100,000,000 shares authorized; 43,647,131 and 42,086,477 shares issued and outstanding, respectively | $4.0K | $4.0K | |||
| Additional paid-in capital | $627.0M | $598.1M | |||
| Accumulated other comprehensive income | $816.0K | $244.0K | |||
| Accumulated deficit | -$450.3M | -$431.4M | |||
| TOTAL STOCKHOLDERS EQUITY | $177.5M | $167.0M | $169.4M | $98.3M | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $238.6M | $230.4M | |||
| Allowance for doubtful accounts | $1.0M | $588.0K | |||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Preferred stock authorized (in shares) | 5.0M shares | 5.0M shares | 5.0M shares | ||
| Preferred stock issued (in shares) | 0 shares | 0 shares | |||
| Preferred stock outstanding (in shares) | 0 shares | 0 shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock authorized (in shares) | 100.0M shares | 100.0M shares | 100.0M shares | ||
| Common stock issued (in shares) | 43.6M shares | 42.1M shares | |||
| Common stock outstanding (in shares) | 43.6M shares | 42.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$18.9M | -$30.9M | -$43.3M |
| Stock-based compensation | $25.5M | $25.9M | $24.1M |
| Depreciation and amortization | $5.8M | $4.4M | $5.4M |
| Accounts receivable credit losses | $570.0K | $470.0K | $761.0K |
| Inventory reserve | $2.0M | $1.3M | $1.7M |
| Amortization of discount and premium on marketable securities | -$3.1M | -$5.4M | -$4.0M |
| Amortization of debt issuance costs | $117.0K | $153.0K | $208.0K |
| Loss on disposal of property and equipment | $1.6M | $1.9M | $1.3M |
| Accounts receivable | -$3.0M | -$5.8M | -$2.1M |
| Inventory | -$8.7M | -$8.0M | -$4.7M |
| Prepaid expenses and other assets | -$1.0M | -$2.0K | -$762.0K |
| Accounts payable | -$1.8M | $1.9M | -$1.1M |
| Accrued liabilities and other | $179.0K | $1.9M | $3.9M |
| Net cash used in operating activities | -$675.0K | -$12.4M | -$18.7M |
| Maturities of marketable securities | $205.1M | $228.5M | $137.5M |
| Purchases of marketable securities | -$192.5M | -$205.4M | -$189.5M |
| Purchases of property and equipment | -$8.4M | -$10.5M | -$7.8M |
| Net cash provided by (used in) investing activities | $4.2M | $12.6M | -$59.8M |
| Proceeds from follow-on public offering, net of underwriting discounts, commissions and offering costs | $0 | $0 | $83.7M |
| Proceeds from debt financing, net of debt issuance cost | $0 | $36.0M | $36.0M |
| Repayments of debt financing | $0 | -$36.0M | -$35.3M |
| Final payment fee related to debt | $0 | -$720.0K | $0 |
| Proceeds from the exercise of common stock options | $1.2M | $570.0K | $4.4M |
| Proceeds from issuance of common stock under employee stock purchase plan | $2.2M | $2.2M | $2.2M |
| Net cash provided by financing activities | $3.4M | $2.0M | $90.9M |
| Effect of exchange rate changes on cash and cash equivalents | $431.0K | -$479.0K | $132.0K |
| Net increase in cash and cash equivalents | $7.3M | $1.7M | $12.6M |
| Cash paid for interest | $2.5M | $3.3M | $3.3M |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $251.0K | $449.0K | $143.0K |
| Unpaid purchases of property and equipment | $495.0K | $588.0K | $501.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led SI-Bone (United States), and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
2010201520202025
- Chief executive officerLaura Francis Aug 16, 2021 to now14
- PresidentAnthony J. Recupero Jul 20, 2021 to now15
- Chief financial officerAnshul Maheshwari Apr 20, 2021 to now16
- Chief financial officerLaura Francis Oct 16, 2018 to May 19, 202117
Board members and other officers (20)
- Chief Op & Financial OfficerAnshul Maheshwari Aug 21, 2026 to now18
- Chief Commercial OfficerAnthony J. Recupero Oct 16, 2018 to May 19, 202119
- GC & Chief Compliance OfficerMichael A. Pisetsky Oct 16, 2018 to May 19, 202120
- Chief Technology OfficerScott A. Yerby Oct 16, 2018 to Jan 17, 202021
- CMO and VP, Medical AffairsW. Carlton Reckling Oct 16, 2018 to Jan 17, 202022
- Board memberThomas A. West Jun 27, 2024 to now23
- Board memberMika Nishimura Mar 8, 2021 to now24
- Board memberHelen Loh Apr 20, 2021 to Jun 13, 202325
- Board memberLaura Francis Apr 20, 2021 to now26
- Board memberHeyward R. Donigan Jun 17, 2019 to Jun 17, 201927
- Board memberJeryl L. Hilleman Dec 4, 2019 to now28
- Board memberDavid P. Bonita Oct 16, 2018 to Oct 19, 201829
- Board memberGreg K. Hinckley Oct 16, 2018 to now30
- Board memberJohn Gordon Freund Oct 16, 2018 to now31
- Board memberKaren A. Licitra Oct 16, 2018 to Jun 28, 202132
- Board memberKeith Valentine Oct 16, 2018 to Jun 13, 202333
- Board memberMark A. Reiley Oct 16, 2018 to Apr 17, 201934
- Board memberTimothy E. Davis Jr. Oct 16, 2018 to now35
- Board memberTimothy Petersen Oct 16, 2018 to Oct 19, 201836
- General counselMichael A. Pisetsky Jul 20, 2021 to now37
Former names
- SI-Bone Inc.Mar 27, 2009 to Sep 30, 20114
Timeline
Filings
425 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 34 major events, 247 insider forms, 41 large holders, 83 other. The latest 20:
- Oct 14, 20264 PRIMARY DOCUMENT EDGAR
- Oct 13, 2026144 EDGAR
- Oct 6, 20264 PRIMARY DOCUMENT EDGAR
- Oct 6, 20264 PRIMARY DOCUMENT EDGAR
- Oct 5, 2026144 EDGAR
- Oct 5, 20264 PRIMARY DOCUMENT EDGAR
- Sep 11, 20268-K EDGAR
- Sep 3, 20264 PRIMARY DOCUMENT EDGAR
- Aug 26, 20264 PRIMARY DOCUMENT EDGAR
- Aug 26, 20264 PRIMARY DOCUMENT EDGAR
- Aug 24, 2026144 EDGAR
- Aug 24, 2026144 EDGAR
- Aug 21, 2026144 EDGAR
- Aug 21, 2026144 EDGAR
- Aug 21, 20264 PRIMARY DOCUMENT EDGAR
- Aug 21, 20264 PRIMARY DOCUMENT EDGAR
- Aug 20, 2026144 EDGAR
- Aug 19, 2026144 EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
- Aug 18, 20264 PRIMARY DOCUMENT EDGAR
The 425 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 41 such filings since October 2021, the latest 10:
- Aug 14, 2026SCHEDULE 13G
- Jul 30, 2026SCHEDULE 13G/A
- May 7, 2026SCHEDULE 13G/A
- Apr 24, 2026SCHEDULE 13G/A
- Mar 27, 2026SCHEDULE 13G/A
- Feb 17, 2026SCHEDULE 13G/A
- Feb 13, 2026SCHEDULE 13G/A
- Feb 13, 2026SCHEDULE 13G/A
- Feb 12, 2026SCHEDULE 13G
- Dec 5, 2025SCHEDULE 13G
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitesi-bone.com1
- WikidataQ106411740
- SEC EDGARCIK 1459839
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3Company websiteSI-Bone (United States) logo
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARAnthony J. Recupero, President
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23SEC EDGARThomas A. West, Board member
- 24SEC EDGARMika Nishimura, Board member
- 25SEC EDGARHelen Loh, Board member
- 26SEC EDGARLaura Francis, Board member
- 27SEC EDGARHeyward R. Donigan, Board member
- 28SEC EDGARJeryl L. Hilleman, Board member
- 29SEC EDGARDavid P. Bonita, Board member
- 30SEC EDGARGreg K. Hinckley, Board member
- 31SEC EDGARJohn Gordon Freund, Board member
- 32SEC EDGARKaren A. Licitra, Board member
- 33SEC EDGARKeith Valentine, Board member
- 34SEC EDGARMark A. Reiley, Board member
- 35SEC EDGARTimothy E. Davis Jr., Board member
- 36SEC EDGARTimothy Petersen, Board member
- 37SEC EDGARMichael A. Pisetsky, General counsel