Key Highlights

  • Quarterly worldwide sales reached $55.7 million, climbing 14.5% from $48.7 million.
  • The net loss contracted by 20.7%, reaching $3.6 million, which equals $0.08 per diluted share; the prior year showed a $4.6 million loss, equal to $0.11 a share.
  • Adjusted EBITDA reached $3.0 million, a 32.4% improvement, while gross Margin landed at 79.3%.
  • Domestic procedures grew roughly 19.5% in volume, and the count of active American physicians climbed about 16%, reaching 1,770.
  • The company held $146.3 million in cash and equivalents at the end of September 2026.

Top-Line Expansion Reaches 14.5% on Stronger Domestic Case Counts

The third quarter, which ended Sep 30, 2026, was reported by SI-BONE (NASDAQ:SIBN) in an announcement dated Nov 2, 2026. Global sales came to $55.7 million, a 14.5% rise compared with $48.7 million in the prior year. Domestic Revenue climbed 13.9%, reaching $52.8 million, while overseas sales rose 27.0%, which put them at $2.9 million, helped by uptake of the iFuse TORQ line.

Headquartered in San Jose, the medical device maker builds procedural solutions for compromised bone; its products focus on the sacroiliac joint and spinopelvic anatomy. More than 160,000 procedures have been supported since 2009.

Bottom-Line Improvement: Net Loss Smaller at $3.6 Million, Adjusted EBITDA Positive at $3.0 Million

Gross profit grew by 13.7%, reaching $44.2 million, with gross margin at 79.3% compared with 79.8% a year earlier, a shift tied to procedure and care-setting mix. Operating expenses rose 9.7%, reaching $48.5 million, on sales commissions, launch-related promotion, and R&D outlay, a pace below that of revenue expansion.

The operating shortfall improved 19.2%, reaching $4.4 million. The loss at the net level shrank by 20.7%, landing at $3.6 million, which equals $0.08 per diluted share.

Operating cash inflow reached $5.9 million during the quarter, and cash plus equivalents closed at $146.3 million, versus $145.9 million at the end of June. Revenue for the first nine months totaled $164.3 million, while the period produced a $12.0 million deficit.

2026 Revenue Target Stays at $231M to $233M, With Expense Growth Now Pegged Lower

SI-BONE reaffirmed its 2026 revenue range, which spans $231 million up to $233 million, implying roughly 15% to 16% growth, along with gross margin near 79.0%. The projected growth in Operating Expense was trimmed to roughly 10.5% based on the revenue midpoint, versus about 12.0% before. Adjusted EBITDA remains expected to be positive.

Management noted that the midpoint implies revenue growth above 20% in the fourth quarter, traditionally its strongest period. The company will hold off on 2027 guidance until its late February release covering the final quarter.

Gross margin could face slight compression during 2027, as Depreciation climbs on added surgical sets. Longer term, the company framed Operating Leverage as a ratio between 1.25 and 1.75 times revenue growth relative to expense growth.

FDA Clearance for Granite Onyx and Newly Effective Billing Codes Shape the Final Quarter

Granite Onyx, an iFuse device, received a 510(k) clearance from the FDA in September; the company calls it a breakthrough product for spine fusion failures. An Alpha launch kicked off in October, and the broader launch is set for January.

Newly effective codes from Oct 1, 2026 relate to intricate spinal fusion work involving the Granite line, and may lift typical hospital reimbursement by up to roughly $50,000 per eligible case. Onyx has an add-on reimbursement request filed, and any decision would take effect Oct 1, 2027 if granted. Next items to monitor include results for the fourth quarter and 2027 guidance.