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Si-Bone (SIBN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Si-Bone (SIBN) Q3 2026 earnings results →

Q3 2026 Revenue up 14% year over year to $55.7M · 6¢ of every $1 of revenue lost · operating margin -7.8%

Si-Bone made $55.7M in Q3 2026 (+14% Y/Y). Operating margin -7.8%, net loss $3.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$55.7M
Year over year+14%
Operating margin-7.8%
Net earnings−$3.6M
Operating cash flow$5.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $55.7M in Q3 2026, up 14% year over year and down 1% from the previous quarter.

Gross margin was 79.3%, down 0.5 points from Q3 2025. Operating costs exceeded revenue by $4.4M, an operating margin of -7.8%. Operating expenses grew 10% against revenue growth of 14%. The fastest-growing cost line was Sales & marketing (+13%). The quarter ended with a net loss of $3.6M, narrower than the previous quarter's $4.1M loss. Non-operating items added $731K, -20% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $5.9M (up 154% year over year). Non-cash charges added back $1.7M of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $2.2M. Capital expenditures of $6.4M exceeded it, leaving free cash flow of −$427K.

Quarterly history

Si-Bone revenue by quarterSi-Bone revenue by quarter$47.3MQ1 2025$48.6MQ2 2025$48.7MQ3 2025$56.3MQ4 2025$52.6MQ1 2026$56.0MQ2 2026$55.7MQ3 2026
Si-Bone net earnings by quarterSi-Bone net earnings by quarter−$6.5MQ1 2025−$6.2MQ2 2025−$4.6MQ3 2025−$1.6MQ4 2025−$4.3MQ1 2026−$4.1MQ2 2026−$3.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 3, 2026$55.7M+14%-7.8%−$3.6M$5.9M
Q2 202610-QAug 4, 2026$56.0M+15%-8.6%−$4.1M$777K
Q1 202610-QMay 11, 2026$52.6M+11%-9.7%−$4.3M−$2.4M
Q4 202510-KFeb 24, 2026$56.3M+15%-4.4%−$1.6M$1.7M
Q3 202510-QNov 10, 2025$48.7M+21%-11.1%−$4.6M$2.3M
Q2 202510-QAug 5, 2025$48.6M+22%-14.4%−$6.2M$173K
Q1 202510-QMay 6, 2025$47.3M+25%-15.8%−$6.5M−$4.9M

Charts

Si-Bone: revenue growth, year over year and quarter over quarterSi-Bone: revenue growth, year over year and quarter over quarterY/YQ/Q+25%Q1 2025+22%+3%Q2 2025+21%+0%Q3 2025+15%+16%Q4 2025+11%-7%Q1 2026+15%+7%Q2 2026+14%-1%Q3 2026
Latest (Q3 2026): Y/Y +14%, Q/Q -1%.
Si-Bone: where the cash came from (+) and went (−), TTM to Q3 2026Si-Bone: where the cash came from (+) and went (−), TTM to Q3 2026Capital spending−$10.3MOther investing$10.3MCash drawn (+) / kept (−)−$8.8MOperating cash flow$6.1MOther financing$1.8MShares issued$1.2MExchange rates−$273K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Si-Bone: profit against cash, quarter by quarterSi-Bone: profit against cash, quarter by quarterNet incomeOperating cash flow−$4.5M$1.2MQ4 2024−$6.5M−$4.9MQ1 2025−$6.2M$173KQ2 2025−$4.6M$2.3MQ3 2025−$1.6M$1.7MQ4 2025−$4.3M−$2.4MQ1 2026−$4.1M$777KQ2 2026−$3.6M$5.9MQ3 2026
Latest (Q3 2026): Net income −$3.6M, Operating cash flow $5.9M.
Si-Bone: diluted shares by fiscal yearSi-Bone: diluted shares by fiscal year29MFY202033MFY202134MFY202238MFY202341MFY202443MFY2025
+47.8% since FY2020: more shares outstanding (issuance, stock pay).
Si-Bone: long-term debt falling due (FY2025)Si-Bone: long-term debt falling due (FY2025)$6.0M2027$18.0M2028$12.0M2029
Cash $42.2M, short-term investments —, long-term debt $35.6M at 2025-12-31.
Si-Bone in its industry: growth against margin (111 companies, SIC 3841)Si-Bone in its industry: growth against margin (111 companies, SIC 3841)revenue growth, year over year →↑ operating marginmedian +10%median -9%MDLNMMMSYKBSXBDXBAXSOLVRMDDXCMWSTMMEDPODDGMEDTFXICUIMMSIIARTPENHAETNDMEMBCIRTCATECGKOSOFIXINSPNVCRUFPTATRCBVSAORTPRCTTCMDARAYANGOKIDSSKINLMATHTFLMDXGCERSTMCISTIMINFUBBNXKMTSOSURANIKDCTHRCELSGHTIRMDXTNTLUNGNPCEPDEXTELACARLLNSRSIMOBIAPYXSSIICVRXCLPTKRMDTLSIPROFSNWVCTSOIDXGUTMDRVPSNOAPREMNEPHDRIOVVOSBTCYNXGLMDAIMDNCPMINONE.SRTSSINTIVFNMTCNSPRAURXXAIRLUCDTNONINBSRNXTVTAKUSAQICUVYCOHRGNCNSYPLSEPETVFEMYOSRHCODXOBIORDGLPAVMGUTSSIBN (+14%, -8%)
Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Si-Bone

We are a leader in developing innovative procedural solutions for compromised bone, grounded in expertise in biomechanical design and anatomy-specific innovation. As pioneers of minimally invasive treatment for sacroiliac joint dysfunction and degeneration, we have developed a deep competency in addressing the challenges of low-density bone in the sacrum. With our additive manufacturing, or 3D-printing, experience developed in sacroiliac fusion, we have established a technology platform that now extends to meet critical unmet needs in thoracolumbar fixation and fusion and pelvic trauma.

In its own words, from its 10-K, filed Feb 24, 2026.

Si-Bone against its Surgical & Medical Instruments & Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +5%. Operating margin: -7.8% against the peers' median 13.3%.

CompanyQuarterRevenueY/YOp. margin
SIBN Si-BoneQ3 2026$55.7M+14%-7.8%
MDLN MedlineQ3 2026$7.9B+10%6.4%
MMM 3MQ3 2026$6.6B+1%23.7%
SYK StrykerQ3 2026$6.5B+8%15.9%
BSX Boston ScientificQ3 2026$5.1B+1%16.1%
BDX Becton DickinsonQ3 FY26$5.0B+5%13.3%
BAX Baxter InternationalQ3 2026$3.0B+5%7.6%
SOLV SolventumQ3 2026$1.9B-7%3.5%
RMD ResMedQ1 FY27$1.4B+6%32.0%

Source: Si-Bone 10-Q on SEC EDGAR · CIK 1459839 · Surgical & Medical Instruments & Apparatus

Guidance and outlook

Si-Bone: what its forward-looking statements are about (10-Q filed 2026-11-03)Si-Bone: what its forward-looking statements are about (10-Q filed 2026-11-03)Other5Costs4Products1Demand1
11 statements; tone +0.27 (−1 all cautious, +1 all confident); 2 hedged.
Si-Bone: outlook statements against the filing beforeSi-Bone: outlook statements against the filing beforeConfident5Cautious2

13F: who owns SIBN and who is buying

Largest holders of SIBN (13F)Largest holders of SIBN (13F)First Light Asset Management, LLC$133MBlackRock$60.0MCadian Capital Management, LP$54.6MVanguard Group$49.3MAmerican Century Companies$41.0MBrown Advisory$33.9MGranahan Investment Management, L…$31.5MVanguard Capital Management LLC$30.0MFirst Eagle Investment Management…$25.1MImpax Asset Management Group$23.3M
Funds' net buying of SIBN by quarter (13F)Funds' net buying of SIBN by quarter (13F)−$6.4M2024-09−$22.4M2024-12$9.3M2025-03$19.7M2025-06$18.0M2025-09$7.5M2025-12$19.5M2026-03$76.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SIBN

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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