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SI-BONE Q1 2025 Earnings Report
SI-BONE, Inc. reported strong financial results for the first quarter of 2025, achieving significant worldwide revenue growth and positive adjusted EBITDA.
Key Takeaways
SI-BONE, Inc. announced a strong start to 2025, with worldwide revenue increasing by 24.9% to $47.3 million and U.S. revenue growing by 26.6% to $44.8 million. The company achieved positive adjusted EBITDA of $0.5 million, a significant improvement from a loss in the prior year, and reduced net cash usage by 31.7%.
Worldwide revenue increased by 24.9% to $47.3 million.
U.S. revenue grew by 26.6% to $44.8 million, driven by strong procedure demand and new product rollouts.
Gross margin improved by 80 basis points to 79.7%.
Adjusted EBITDA turned positive at $0.5 million, an improvement from a $4.0 million loss in the prior year.
Revenue by Geographic Location
Forward Guidance
SI-BONE updated its fiscal year 2025 guidance, increasing the worldwide revenue range and maintaining expectations for positive adjusted EBITDA.
Positive Outlook
- Worldwide revenue guidance increased to $193.5 million to $197.5 million, implying 16% to 18% year-over-year growth.
- Full year 2025 gross margin estimated at 78%.
- No material impact to gross margins expected from recently announced tariffs.
- Anticipates positive adjusted EBITDA for the full year 2025.
- Operating expenses expected to grow at approximately 10% at the mid-point of the revenue guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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