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Mar 31, 2023
SI-BONE Q1 2023 Earnings Report
SI-BONE's Q1 2023 financial performance was strong, marked by record revenue and increased annual guidance.
Key Takeaways
SI-BONE, Inc. reported record worldwide revenue of $32.7 million for Q1 2023, a 46% increase year-over-year. U.S. revenue also hit a record at $30.5 million, a 50% increase. The company's annual revenue guidance was increased to $128 million - $131 million, reflecting anticipated growth of 20%-23%.
Worldwide revenue reached a record $32.7 million, a 46% increase compared to Q1 2022.
U.S. revenue hit a record $30.5 million, representing a 50% increase year-over-year.
Gross margin stood at 82% for the quarter.
The company increased its annual revenue guidance to $128 million - $131 million.
SI-BONE
SI-BONE
SI-BONE Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
SI-BONE updated its 2023 worldwide revenue guidance to be in the range of $128 million to $131 million, implying growth of approximately 20% to 23%.
Positive Outlook
- Annual guidance increased to $128 million - $131 million.
- Annual growth of 20%-23% is expected.
- Maintaining guidance for fiscal year 2023 gross margin of approximately 80%.
- Improving adjusted EBITDA loss.
Revenue & Expenses
Visualization of income flow from segment revenue to net income