SI-BONE, Inc. (Nasdaq: SIBN) reported financial results for the third quarter ended September 30, 2026, in a Form 8-K filed on November 2, 2026. The company announced worldwide revenue of $55.7 million for the quarter, representing a 14.5% increase compared to the same period in 2025. U.S. revenue for the quarter was $52.8 million, a 13.9% increase from the prior year, while international revenue reached $2.9 million, a 27.0% increase.
Financial metrics for the third quarter included a gross margin of 79.3%, a net loss of $3.6 million, and positive adjusted EBITDA of $3.0 million. The company also reported positive cash from operations of $5.9 million and held $146.3 million in cash and equivalents as of September 30, 2026.
Operational highlights included a growth of approximately 16% in active U.S. physicians to 1,770. In September, the company received 510(k) clearance for the iFuse Granite Onyx device, which targets spine fusion procedure failures and has an estimated total addressable market of approximately $1.5 billion. Additionally, in October, new MS-DRGs took effect for complex spinal fusion procedures incorporating the iFuse Bedrock Granite, increasing average hospital inpatient payments by up to $50,000 per qualifying procedure.
SI-BONE reaffirmed its fiscal year 2026 revenue guidance of $231 million to $233 million, with gross margin guidance of approximately 79.0%. The company updated its operating expense growth expectation to 10.5% based on year-to-date trends.
