Q2 2026 Shoulder Innovations Inc Earnings Call Transcript

Aug 6, 2026 / 08:30 PM GMT

Release Date Price: $22.43 (-0.75%)

Transcript 10-Q8-K

Key Points

Positve

Q2 2026 net revenue grew 56% year-over-year to $17.2 million, with gross margin improving to 78.3%.
Raised full-year 2026 revenue guidance to $67-$69 million, representing 42%-46% growth.
New customer additions accelerated in Q2, with each territory growing year-over-year and most exceeding 80% growth.
Robotics platform (Inset Neo) development is nearly a year ahead of schedule, with FDA submission planned for H1 2027.
Multiple new product launches (I-135 RFX, N22 Glenosphere, TPS base plate) are contributing to higher average selling prices.
New partnerships in additive manufacturing and soft tissue devices expand market reach and product portfolio.
Clinical data registry shows promising early results, including reduced complications and improved outcomes.
Cash position remains strong at $99 million, with improved cash burn expected in H2 2026.
New debt facilities with Stifel provide up to $50 million and future cost savings.
Gross margin expansion expected from additional cost reduction initiatives, including a 510(k) for additive manufacturing that could cut costs by up to 30% on certain products.

Negative

SG&A expenses increased significantly to $20.1 million in Q2, up from $12.8 million year-over-year, due to commercial expansion and public company costs.
R&D expenses more than doubled to $3.4 million in Q2, driven by robotics and new product development investments.
Net loss was $10.2 million in Q2, though improved from a $19.2 million loss in the prior year.
Adjusted EBITDA loss was $8 million in Q2, reflecting ongoing operating losses.
Guidance implies a flat second half versus first half, with typical orthopedic seasonality and a shift in procedure mix expected to impact ASPs.
Q3 SG&A as a percentage of revenue is expected to increase from Q2 before declining in Q4.
The company filed a shelf registration statement, which may create overhang due to potential insider selling.
New partnerships are not expected to contribute material revenue in the near term.
The company faces competitive pressure from a competitor's new robotic system in shoulder surgery.
Cash burn, while improving, remains a concern as the company continues to invest heavily in growth initiatives.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SI.N - Shoulder Innovations, Inc.
Q2 2026 Shoulder Innovations Inc Earnings Call
Aug 06, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Please stand by. Welcome ladies and gentlemen to the first quarter 2026 earnings conference call for Scholder Innovations. At this time, all participants will be placed on a listen-only mode.

At the end of the company's prepared remarks, we will conduct a question-and-answer session. Please note that this conference is being recorded and will be available on the company's website for replay shortly.

I would now like to turn the call over to Sam Bentzinger, Investor Relations at Gilmartin Group for a few introductory comments. Please go ahead.

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Unidentified_2 [2]
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