Filing Flows › Shoulder Innovations (SI) › Q3 2026
Shoulder Innovations (SI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Shoulder Innovations (SI) reported revenue of $16.2M for the third quarter 2026 (Q3 2026), +38% from a year earlier and -6% from the quarter before. Operating margin was -46.9%, net loss $7.0M (43.5% of revenue).
Shoulder Innovations, Q3 2026: revenue $16.2M (+38% year over year), operating margin -46.9%, net loss $7.0M, operating cash flow −$6.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.2M | -6% | +38% |
| Operating profit | −$7.6M | — | — |
| Net earnings | −$7.0M | — | — |
| Operating cash flow | −$6.4M | — | — |
What changed
Revenue was $16.2M in Q3 2026, up 38% year over year and down 6% from the previous quarter.
Gross margin was 78.5%, up 2.2 points from Q3 2025. Operating costs exceeded revenue by $7.6M, an operating margin of -46.9%. Operating expenses grew 22% against revenue growth of 38%. The fastest-growing cost line was Research & development (+108%). The quarter ended with a net loss of $7.0M, narrower than the previous quarter's $10.2M loss.
Operating cash flow was −$6.4M. Non-cash charges added back $1.1M of depreciation and $1.0M of share-based compensation. Working capital and other items used $1.5M. Capital expenditures of $586K exceeded it, leaving free cash flow of −$7.0M.
Questions
What was Shoulder Innovations' revenue in the third quarter 2026?
Shoulder Innovations (SI) reported revenue of $16.2M for the third quarter 2026 (Q3 2026), +38% from a year earlier and -6% from the quarter before.
Was Shoulder Innovations profitable in the third quarter 2026?
Operating loss was $7.6M (-46.9% of revenue) and net loss $7.0M.