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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.
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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