--- schema_version: "secwatch.filing_event.v1" accession: "0001459839-23-000014" form_type: "8-K" ticker: "SIBN" cik: "0001459839" company_name: "SI-BONE, Inc." filed_at: "2023-02-27T23:59:59+00:00" generated_at: "2026-06-18T23:26:07.303883+00:00" event_type: "earnings" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # SI-BONE Q4 revenue up 27% to $32M; issues 2023 guidance of $124-127M ## Summary - Q4 worldwide revenue $32.0M (+27% YoY); full year $106.4M (+18% YoY). - U.S. revenue Q4 $30.0M (+28%); active surgeons over 920 (+33% YoY). - Net loss Q4 $11.2M ($0.32/sh) vs $14.5M ($0.43) prior year; adjusted EBITDA loss improved 54% to $4.2M. - 2023 guidance: revenue $124-127M (17-19% growth); gross margin ~80%; adjusted EBITDA loss to improve. - Refinanced $35M term loan with new $51M credit facility ($36M term + $15M revolver). ## SEC filing metadata - accession: 0001459839-23-000014 - form_type: 8-K - ticker: SIBN - cik: 0001459839 - company_name: SI-BONE, Inc. - filed_at: 2023-02-27T23:59:59+00:00 - event_type: earnings - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 2.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1459839/000145983923000014/0001459839-23-000014-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1459839/000145983923000014/sibn-20230227.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001459839-23-000014 - JSON: https://secwatch.observer/filing/0001459839-23-000014.json - Plain text: https://secwatch.observer/filing/0001459839-23-000014.txt ## Key facts - Earnings Releases SI-BONE, Inc. reported the full year 2022 results: revenue $106.4 million, net income $61.3 million, EPS $1.79 per diluted share. - Period: the full year 2022 - Revenue: $106.4 million - Net income: $61.3 million - EPS: $1.79 per diluted share - Result: reported results source text: Revenue was $106.4 million for 2022, a 18% increase from $90.2 million in 2021. U.S. revenue for 2022 was $98.8 million, a 19% increase from $82.7 million in 2021, primarily driven by growth of domestic case volumes. International revenue was $7.7 million in 2022 compared to $7.4 million in 2021 as overall volume growth was offset by unfavorable foreign exchange rates and challenges in select international markets. Gross margin was 85% for 2022, compared to 88% in 2021. In 2022, the gross margin was impacted by lower average selling prices driven by product mix, procedure mix, site of service mix, higher freight, as well as higher cost of new products and depreciation related to new product instrument tray costs. Operating expenses increased 14% to $150.3 million in 2022 compared to $131.4 million in 2021. The increase was driven by increases in headcount, sales commissions, research and development expenses, stock-based compensation expense and travel costs. Net loss was $61.3 million evidence_url: https://www.sec.gov/Archives/edgar/data/1459839/000145983923000014/0001459839-23-000014-index.htm - Earnings Releases SI-BONE, Inc. reported the fourth quarter 2022 results: revenue $32.0 million, net income $11.2 million, EPS $0.32 per diluted share. - Period: the fourth quarter 2022 - Revenue: $32.0 million - Net income: $11.2 million - EPS: $0.32 per diluted share - Result: reported results source text: Worldwide revenue was $32.0 million in the fourth quarter 2022, a 27% increase from $25.2 million in the prior year period. U.S. revenue for the fourth quarter 2022 was $30.0 million, an increase of 28% from $23.3 million in the prior year period primarily driven by growth of domestic case volumes. International revenue was $2.0 million in the fourth quarter 2022 compared to $1.9 million in the prior year period. International revenue growth was impacted by unfavorable foreign exchange rates and challenges in select international markets. Gross margin was 84% for the fourth quarter 2022, compared to 87% in the prior year period. Gross margin in the fourth quarter 2022 was impacted by lower average selling prices driven by procedure mix, product mix, site of service mix, higher freight, as well as higher cost of new products and depreciation related to new product instrument tray costs. Operating expenses increased 7% to $38.2 million in the fourth quarter 2022 compared to $35.8 million evidence_url: https://www.sec.gov/Archives/edgar/data/1459839/000145983923000014/0001459839-23-000014-index.htm - Earnings Releases SI-BONE, Inc. reported fiscal year 2023 results: revenue approximately $124 million to $127 million. Guidance initiated. - Period: fiscal year 2023 - Revenue: approximately $124 million to $127 million - Guidance: initiated - Result: guidance update source text: SI-BONE continues to experience demand momentum but remains cognizant of the early phase of re-acceleration of the U.S. business and the pace of international recovery. Considering these factors, SI-BONE expects 2023 worldwide revenue of approximately $124 million to $127 million, representing growth of approximately 17% to 19% compared to fiscal year 2022. SI-BONE also anticipates that gross margin will be approximately 80% for fiscal year 2023 and Adjusted EBITDA loss will continue to improve year over year in 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1459839/000145983923000014/0001459839-23-000014-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.