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Dec 31, 2021
SI-BONE Q4 2021 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2021.
Key Takeaways
SI-BONE, Inc. reported a 14% increase in worldwide revenue for Q4 2021, reaching $25.2 million, and a gross margin of 87%. The company's operating loss was $13.9 million, and net loss was $14.5 million, or $0.43 per diluted share.
Worldwide revenue of $25.2 million for the fourth quarter 2021, representing an increase of 14% over the corresponding period in 2020.
U.S. revenue of $23.3 million for the fourth quarter 2021, representing an increase of 13% over the corresponding prior period in 2020.
Surpassed 65,000 procedures performed by over 2,600 surgeons worldwide, including over 690 U.S. active surgeons in the fourth quarter 2021.
Ended 2021 with 150 U.S. field sales representatives, including 85 Territory Managers and 65 Clinical Support Specialists.
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 expects total 2022 revenue of approximately $106 million to $108 million, representing growth of 18% to 20% compared to full year 2021.
Positive Outlook
- Strong momentum in its business in 2022
- Case scheduling and elective procedure levels normalizing throughout the year
Challenges Ahead
- Uncertainty surrounding COVID-19
- Impact on elective procedures
- Impact on hospital and ASC infrastructure
- Impact on hospital and ASC staffing levels
- Highly sensitive to assumptions on a steady global recovery
Revenue & Expenses
Visualization of income flow from segment revenue to net income