---
schema_version: "secwatch.filing_event.v1"
accession: "0001699350-25-000015"
form_type: "8-K"
ticker: "SI"
cik: "0001699350"
company_name: "SHOULDER INNOVATIONS, INC."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:19:13.062985+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Shoulder Innovations Q3 revenue up 58% to $11.8M; raises FY25 guidance to $45-46M

## Summary
- Revenue $11.8M (+58% YoY); net loss $8.7M vs $4.1M loss in Q3 2024.
- Gross margin 76.2%; sold 1,584 implant systems (+53% YoY).
- Raises full-year 2025 revenue guidance to $45M-$46M from prior $42M-$44M.
- Cash $137M after IPO and convertible notes; FDA clearance for fracture indications.
- Adjusted EBITDA loss $7.5M vs $2.9M loss; SG&A $15.1M up 78% YoY on growth investments.

## SEC filing metadata
- accession: 0001699350-25-000015
- form_type: 8-K
- ticker: SI
- cik: 0001699350
- company_name: SHOULDER INNOVATIONS, INC.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1699350/000169935025000015/0001699350-25-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1699350/000169935025000015/si-20251111.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001699350-25-000015
- JSON: https://secwatch.observer/filing/0001699350-25-000015.json
- Plain text: https://secwatch.observer/filing/0001699350-25-000015.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.