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Sep 30, 2024
SI-BONE Q3 2024 Earnings Report
SI-BONE Q3 2024 financial results, achieving record worldwide revenue and nearing Adjusted EBITDA breakeven.
Key Takeaways
SI-BONE reported a strong Q3 2024 with worldwide revenue of $40.3 million, representing a growth of approximately 19%. The company significantly improved its financial performance, reducing its net loss by approximately 34% and its Adjusted EBITDA loss by approximately 94%. They expect to achieve positive Adjusted EBITDA in the fourth quarter of 2024.
Worldwide revenue reached $40.3 million, a growth of approximately 19%.
U.S. revenue was $38.3 million, representing growth of approximately 18%.
Net loss improved by approximately 34% to $6.6 million.
Adjusted EBITDA loss improved by approximately 94% to $0.2 million.
Revenue by Geographic Location
Forward Guidance
SI-BONE updated its 2024 worldwide revenue guidance to be in the range of $165 million to $166 million and expects to be Adjusted EBITDA positive in the fourth quarter of 2024.
Positive Outlook
- Expects to achieve positive Adjusted EBITDA in the fourth quarter of 2024
- Updated 2024 worldwide revenue guidance to be in the range of $165 million to $166 million
- Demand trends are robust
- Granite 9.5 and TORQ TNT are expected to drive strong end to the year
- Leveraging physician user base to deliver strong and profitable revenue growth in 2025
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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