Q4 2025 SI-BONE Inc Earnings Call Transcript
Key Points
- SI-BONE Inc (SIBN) achieved record annual worldwide revenue of nearly $201 million, marking over 20% growth.
- The company delivered its first full year of positive adjusted EBITDA and achieved a 9% adjusted EBITDA margin in the fourth quarter.
- SI-BONE Inc (SIBN) secured favorable reimbursement, including NTAP for iFuse TORQ TNT and TPT for iFuse Bedrock Granite, enhancing access and adoption.
- The company launched INTRA Ti, a new product expected to improve procedural efficiency in ambulatory surgery centers.
- SI-BONE Inc (SIBN) formed a strategic partnership with Smith & Nephew to expand reach and penetration into the trauma market.
- Operating expenses grew by 6.2% in the fourth quarter and 8.9% for the full year, driven by higher sales commissions and increased R&D investment.
- Net loss narrowed but still amounted to $1.6 million in the fourth quarter and $18.9 million for the full year.
- Gross margin guidance for 2026 is set at 78%, indicating a potential compression from the previous year's 79.6%.
- The company anticipates revenue growth to be weighted towards the second half of 2026, suggesting potential short-term challenges.
- Despite the positive outlook, the guidance for 2026 implies a sequential slowdown in growth compared to 2025.
Good afternoon, and welcome to SI-BONE's fourth-quarter 2025 earnings conference call.
(Operator Instructions)
As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Saqib Iqbal, Vice President, FP&A, and Investor Relations at SI-BONE for a few introductory comments. Please go ahead, sir.
Earlier today, SI-BONE released financial results for the quarter ended December 31, 2025. A copy of the press release is available on the company's website. Before we begin, I'd like to remind you that management's remarks today may include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to a number of risks and uncertainties, including those set forth in our SEC filings, such as our most recent Form 10-K, and our actual results might differ
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