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Dec 31, 2023
SI-BONE Q4 2023 Earnings Report
SI-BONE achieved record financial results and issued 2024 guidance.
Key Takeaways
SI-BONE reported a 22% increase in worldwide revenue for Q4 2023, driven by a 22% increase in U.S. revenue. The company's gross margin was 74%, impacted by procedure and product mix and an excess inventory reserve. Net loss improved slightly to $11.0 million, and adjusted EBITDA loss decreased to $4.8 million.
Worldwide revenue increased by ~22% to $38.9 million.
U.S. revenue increased by ~22% to $36.7 million.
Gross margin was ~74%, reflecting a ~4 percentage point reduction from excess inventory reserve.
Net loss improved by ~2% to $11.0 million.
Revenue by Geographic Location
Forward Guidance
SI-BONE expects 2024 worldwide revenue of $162 million to $165 million, implying year-over-year growth of ~17% to ~19%. SI-BONE estimates fiscal year 2024 gross margin to be ~78% and operating expenses growth to be ~9%. Based on these assumptions, SI-BONE expects significant year-over-year improvement in Adjusted EBITDA loss for full year 2024.
Positive Outlook
- Worldwide revenue growth of ~17% to ~19%.
- Gross margin to be ~78%.
- Operating expenses growth to be ~9%.
- Significant year-over-year improvement in Adjusted EBITDA loss.
- Capitalize on favorable demand dynamics.
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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