SI · Shoulder Innovations, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Price · SI
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 |
|---|---|---|---|---|
| Revenue | $16.71M | - | $11.76M | $8.26M |
| Cost of Revenue | $3.72M | - | $2.79M | $1.91M |
| Gross Profit | $12.99M | - | $8.96M | $6.35M |
| R&D | $1.58M | - | $1.09M | $1.41M |
| SG&A | $10.50M | - | $15.08M | $9.17M |
| Total Operating Expenses | - | - | - | - |
| D&A | $593.0K | - | $489.0K | $440.0K |
| Operating Income | ($8.98M) | - | ($7.64M) | ($3.98M) |
| Interest Expense | ($436.0K) | - | $316.0K | $216.0K |
| Income Tax | $0 | - | $0 | $0 |
| Net Income | ($8.38M) | - | ($4.05M) | ($4.17M) |
| EPS - Basic | ($0.41) | - | ($0.64) | ($165.53) |
| EPS - Diluted | ($0.41) | - | ($0.64) | ($72.74) |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 |
|---|---|---|---|---|
| Cash & Equivalents | $11.49M | $26.87M | $54.93M | $27.05M |
| Accounts Receivable | $10.55M | $8.27M | $7.08M | $5.12M |
| Inventory | $21.83M | $21.59M | $19.36M | $17.08M |
| Accounts Payable | $5.92M | $8.87M | $8.88M | $6.04M |
| Current Assets | $145.78M | $157.16M | $166.61M | $68.91M |
| Total Assets | $160.36M | $169.91M | $177.76M | $43.08M |
| Current Liabilities | $12.34M | $14.20M | $15.02M | $12.49M |
| Long-term Debt | $14.96M | $14.91M | $14.85M | $14.78M |
| Total Liabilities | $27.34M | $29.16M | $29.93M | $23.30M |
| Stockholders' Equity | $133.02M | $140.75M | $147.83M | ($54.70M) |
| Retained Earnings | ($105.78M) | ($97.40M) | ($89.63M) | ($57.04M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 |
|---|---|---|---|---|
| Operating Cash Flow | ($6.48M) | - | - | - |
| Investing Cash Flow | ($13.07M) | - | - | - |
| Financing Cash Flow | $19.79M | - | - | - |
| CapEx | $843.0K | - | - | - |
| Free Cash Flow | ($7.32M) | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 |
|---|---|---|---|---|
| Profitability | ||||
| Gross margin | 77.7% | - | 76.2% | 76.9% |
| Operating margin | -53.7% | - | -65.0% | -48.2% |
| EBITDA margin | -50.2% | - | -60.8% | -42.9% |
| Net margin | -50.1% | - | -34.5% | -50.5% |
| Free cash flow margin | -43.8% | - | - | - |
| FCF / Net income | 0.87 | - | - | - |
| R&D / Revenue | 9.5% | - | 9.3% | 17.0% |
| SG&A / Revenue | 62.9% | - | 128.2% | 111.0% |
| Effective tax rate | - | - | - | - |
| Return on assets | -5.2% | - | -2.3% | -9.7% |
| Return on equity | -6.3% | - | -2.7% | 7.6% |
| Return on invested capital | -4.8% | - | -3.7% | - |
| Liquidity | ||||
| Current ratio | 11.81 | 11.07 | 11.09 | 5.52 |
| Quick ratio | 10.04 | 9.55 | 9.80 | 4.15 |
| Cash ratio | 0.93 | 1.89 | 3.66 | 2.17 |
| Leverage | ||||
| Debt / Equity | 0.11 | 0.11 | 0.10 | -0.27 |
| Debt / Assets | 0.09 | 0.09 | 0.08 | 0.34 |
| Debt / EBITDA | - | - | - | - |
| Interest coverage | 20.6x | - | -24.2x | -18.4x |
| Equity multiplier | 1.21 | 1.21 | 1.20 | -0.79 |
| Liabilities / Assets | 0.17 | 0.17 | 0.17 | 0.54 |
| Efficiency | ||||
| Asset turnover | 0.10 | - | 0.07 | 0.19 |
| Inventory turnover | 0.17 | - | 0.14 | 0.11 |
| Days sales outstanding | 230d | - | 220d | 226d |
| Days inventory outstanding | 2141d | - | 2528d | 3271d |
| Days payable outstanding | 581d | - | 1159d | 1157d |
| Cash conversion cycle | 1790d | - | 1589d | 2340d |
| Valuation | ||||
| P / E | - | - | - | - |
| P / B | 2.3x | - | 1.2x | - |
| P / S | 18.0x | - | 14.5x | - |
| EV / EBITDA | - | - | - | - |
| Growth | ||||
| Revenue growth (YoY) | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - |
| Net income growth (YoY) | - | - | - | - |
| EPS growth (YoY) | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - |
| FCF growth (YoY) | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - |
| Book value growth (YoY) | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$47.32M totalReportable Segment$47.32M · 100.0%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing SHOULDER INNOVATIONS against the 5 most active filers in the same SIC group.