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Mar 31, 2021
SI-BONE Q1 2021 Earnings Report
Reported financial results for the quarter ended March 31, 2021.
Key Takeaways
SI-BONE, Inc. reported a 22% increase in worldwide revenue, reaching $20.4 million for the first quarter of 2021, compared to $16.8 million in the corresponding period in 2020. U.S. revenue increased by 23% to $18.8 million. The company's net loss was $12.2 million, or $0.37 per diluted share.
Worldwide revenue increased by 22% to $20.4 million compared to Q1 2020.
U.S. revenue increased by 23% to $18.8 million compared to Q1 2020.
Launched iFuse-TORQ for pelvic trauma and minimally invasive sacroiliac joint fusion applications.
Completed the senior leadership team transition and appointed Laura Francis as CEO.
SI-BONE
SI-BONE
SI-BONE Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company continues to expect full year 2021 total revenue to be approximately $92 million to $94 million, representing growth of 25% to 28% compared to full year 2020.
Positive Outlook
- Company guidance is highly sensitive to assumptions on a global recovery
- Anticipates continued progress on vaccinations and immunizations resulting in normalized case scheduling
- Elective procedure levels progressing throughout the year.
- The first quarter of 2021 was a good start to the year
- Company continues to take a measured approach given the early stages of the COVID-19 recovery
Challenges Ahead
- SI-BONE remains cautious given the uncertainty surrounding COVID-19 cases
- Potential negative impact on hospitals and ASC’s.
- Impact the COVID-19 pandemic will have on the ability and desire of patients and physicians to undergo procedures using the iFuse Implant System
- The duration of the COVID-19 pandemic
- Whether the COVID-19 pandemic will recur in the future
Revenue & Expenses
Visualization of income flow from segment revenue to net income