Shoulder Innovations, Inc. (SI) AI Stock Analysis

Shoulder Innovations, Inc. engages in the provision of medical devices. It focuses on transforming the shoulder surgical care market. It also offers advanced implant systems for shoulder arthroplasty. The company was founded by Stephen B. Gunther and Michael DeVries in 2009 and is headquartered in Grand Rapids, MI.

Shoulder Innovations expanded its revenue from $19.3M in FY2023 to $31.6M in FY2024, representing growth of 64.1%, and further grew 49.6% to $47.3M in FY2025. Gross margin stood at 79.2% in FY2023, 77.0% in FY2024, and 76.5% in FY2025. Operating margins remained negative over this period at -56.4% in FY2023, -46.3% in FY2024, and -55.6% in FY2025. Net income widened from -$12.7M in FY2023 to -$15.6M in FY2024 and -$40.4M in FY2025, yielding an EPS of -$1.96 in FY2025. For the trailing twelve months ended June 30, 2026, revenue totaled $60.1M, with operating margin and profit margin both recorded at 0.0%, and EPS at $0.00.

As of June 30, 2026, Shoulder Innovations held $99.0M in cash and short-term investments against total debt of $14.8M, resulting in net cash of $84.1M. Shareholders' equity was $124.3M and total assets stood at $152.0M. The current ratio was 10.71, with a debt-to-equity ratio of 0.12. Operating cash flow was -$28.6M in FY2025, and free cash flow was -$36.0M after accounting for capital expenditures of $7.4M.

Shoulder Innovations trades at an enterprise value of $277.5M and a market cap of $376.6M. Its trailing P/E is 22.3x, compared to 24.6x for the median of its US-listed Healthcare peers. Its price-to-sales multiple is 6.0x, above the peer median of 4.1x, while its EV-to-revenue ratio sits at 4.6x and price-to-book is 2.9x. The stock has gained 47.1% over the past year, outperforming the S&P 500's return of 16.8%, and is up 26.5% year-to-date.

Wall Street coverage includes 3 Strong Buy ratings and 1 Buy rating, with no Hold, Sell, or Strong Sell ratings. The mean price target is $26.50, representing an upside of 46.5% relative to the last close of $18.09. Analysts estimate current fiscal year revenue of $68.4M and EPS of -$1.86 for the period ending December 31, 2026. For the next fiscal year, 3 analysts project revenue of $88.4M, indicating 29.2% growth, alongside an EPS estimate of -$1.58. The company has beat EPS estimates in 1 of the last 4 quarters, and the next earnings date is November 10, 2026.

This page is an AI-written research summary of Shoulder Innovations, Inc. (SI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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