SI-BONE, Inc. (SIBN) AI Stock Analysis
SIBN AI stock analysis summary
AI ResearchSI-BONE, Inc. (SIBN) is a medical device maker focused on implantable devices for sacropelvic musculoskeletal disorders. The company generated $200.9M in revenue in FY2025 with a 5-year revenue CAGR of 22.3% through FY2025, while narrowing its annual net loss to -$18.9M. It holds $145.9M in cash and short-term investments with total debt of $7.2M as of June 30, 2026.
- Market cap
- $872.8M
- Revenue (TTM)
- $213.6M
- P/E
- —
- 1Y return
- 30.3% S&P 500 16.8%
- Avg. target
- $25.44 29.3% vs last close
Bull case
- Revenue increased at a 5-year CAGR of 22.3% from FY2020 through FY2025, reaching $200.9M.
- Operating margin expanded from -57.3% in FY2021 to -11.1% in FY2025 as net losses dropped to -$18.9M.
- The balance sheet maintains $138.8M in net cash as of June 30, 2026, backed by a current ratio of 9.15.
Bear case
- The company remains unprofitable, recording an EPS of -$0.34 and a net margin of -6.9% for the trailing twelve months.
- Free cash flow remained negative at -$9.1M in FY2025, following -$22.9M in FY2024.
- Dilution has increased the share count by 31.8% over the past 5 years.
What SI-BONE does
SI-BONE, Inc. specializes in developing implantable devices to treat musculoskeletal disorders affecting the sacropelvic anatomy. Headquartered in Santa Clara, California, the company addresses sacroiliac joint dysfunction and degeneration, adult deformity issues, and pelvic ring traumatic fractures. Its flagship offering is the iFuse implant system, a minimally invasive surgical solution designed to fuse and stabilize the sacroiliac joint. It also offers the iFuse-3D titanium implant, featuring a 3D-printed porous surface for osseointegration, and iFuse-TORQ threaded implants for pelvic fractures and sacroiliac fusion. SI-BONE sells its products through a dedicated direct sales force and distributor partnerships.
Growth and profitability
SI-BONE grew revenue from $90.2M in FY2021 to $200.9M in FY2025, posting 20.2% growth in FY2025 following a 20.4% increase in FY2024. Over this span, gross margin moved from 88.4% in FY2021 to 79.6% in FY2025. Operating margin improved from -57.3% in FY2021 to -11.1% in FY2025, while net losses narrowed from -$56.6M to -$18.9M. For the trailing twelve months ended June 30, 2026, revenue reached $213.6M with an operating margin of -8.6% and a net margin of -6.9%. In its latest quarter ended June 30, 2026, quarterly revenue grew 15.2% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, SI-BONE held $145.9M in cash and short-term investments against total debt of $7.2M, resulting in net cash of $138.8M. Total assets stood at $248.8M, supported by a current ratio of 9.15 and a debt-to-equity ratio of 0.04. Free cash flow improved from -$51.2M in FY2022 to -$9.1M in FY2025, with operating cash flow reaching -$675,000. In FY2025, capital expenditures were $8.4M, and share issuance was $2.2M, while share count expanded 31.8% over five years.
Valuation and performance
SI-BONE has a market capitalization of $872.8M and an enterprise value of $731.4M. It trades at a price-to-sales multiple of 4.1x, matching the 4.1x median of its US-listed Healthcare peers. Its EV-to-revenue multiple is 3.5x, and its price-to-book ratio is 4.6x. Over the past year, SI-BONE generated a return of 30.3%, outperforming the S&P 500 (SPY) return of 16.8%. However, its 5-year return of -13.9% lagged the S&P 500 return of 83.0%.
What analysts expect
Wall Street coverage includes 6 Strong Buy and 3 Buy recommendations, with no Hold, Sell, or Strong Sell ratings. The mean price target is $25.44, representing 29.3% upside above the last close of $19.68. For the fiscal year ending December 31, 2026, analysts estimate revenue of $232.1M and EPS of -$0.40. For the next fiscal year, 8 analysts project revenue of $268.4M and EPS of -$0.33. SI-BONE beat EPS estimates in each of the last 4 quarters, and its next earnings date is November 9, 2026.
Key risks and what to watch
- Gross margin declined from 88.4% in FY2021 to 79.6% in FY2025.
- Short interest represents 13.3% of the float, indicating elevated negative sentiment.
- Ongoing losses could delay self-funded operations, as consensus EPS estimates project -$0.40 for FY2026 and -$0.33 for FY2027.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this SIBN AI stock analysis
This page is an AI-written research summary of SI-BONE, Inc. (SIBN). 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.
Related: SIBN income statement, SIBN balance sheet, SIBN key metrics, SIBN analyst forecast, SIBN chart. See the SIBN stock overview for the latest quote and news.
SIBN AI stock analysis FAQ
What products does SI-BONE develop?
SI-BONE develops minimally invasive implantable devices for sacropelvic disorders, including the iFuse implant system, the 3D-printed titanium iFuse-3D, and the iFuse-TORQ threaded implant system.
Is SI-BONE profitable?
No, SI-BONE is not yet profitable. In FY2025, it posted a net income of -$18.9M, and its trailing twelve months EPS was -$0.34 as of June 30, 2026.
What is SI-BONE's financial position?
As of June 30, 2026, SI-BONE held $145.9M in cash and short-term investments and $7.2M in total debt, giving it $138.8M in net cash and a current ratio of 9.15.
What are analysts' price targets for SIBN stock?
Analysts have a mean price target of $25.44 for SIBN, which is 29.3% above its last close price of $19.68 on October 16, 2026.