Shoulder Innovations, Inc. (SI) Market Cap
Shoulder Innovations, Inc. has a market capitalization of $471.6M.
Price: $22.74
▼ -0.45 (-1.94%)
Market Cap: 471.59M
NYSE · time unavailable
CEO: Robert Joseph Ball
Sector: Healthcare
Industry: Medical - Specialties
IPO Date: 2025-07-31
Website: http://www.shoulderinnovations.com
Shoulder Innovations, Inc. (SI) - Company Information
Market Cap: 471.59M|Sector: Healthcare
Company Profile
Shoulder Innovations, Inc. manufactures medical devices. It has developed a shoulder replacement system. The company was founded by Stephen B. Gunther and Michael DeVries in 2009 and is headquartered in Grand Rapids, MI.
Analyst Sentiment
From 4 Active Polls
1Y Forecast: $23.00
▲ +1.1% Potential Upside
Consensus Target Metrics
Low Bound
$19
Median
$23
High Bound
$27
Average
$23
Price & Moving Averages
🎯 Wall Street Analyst Intelligence Report
1-Year structural target targets, chart projections, and sentiment maps.
Consensus Trend Projection
Trailing closures vs. 12-month metrics map.
Analyst Vote Distribution
Aggregate institutional coverage sentiment weights.
📊 Historical Valuation Multiples
Real-time Trailing Twelve Month (TTM) momentum side-by-side with discrete quarterly metrics.
| Fiscal Quarter | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Period Ending | Trailing 12M | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 |
| Market Cap ($M) | 472 | 300 | 295 | 257 | 306 | 300 | 300 | 300 | 300 |
| Enterprise Value ($M) | 475 | 304 | 283 | 217 | 294 | 308 | 308 | — | — |
| Price to Earnings Ratio (P/E) | -10.48 | -8.86 | -9.41 | -7.30 | -3.96 | -16.36 | -19.80 | -18.81 | -17.92 |
| Price/Earnings-to-Growth Ratio (PEG) | — | -0.56 | -0.42 | -1.08 | -0.46 | -1.01 | -1.16 | — | -1.20 |
| Price to Sales Ratio (P/S) | 8.75 | 17.96 | 20.44 | 21.86 | 27.82 | 29.59 | 34.37 | 40.23 | 36.30 |
| Price to Book Ratio (P/B) | 3.53 | 2.26 | 1.90 | 1.58 | 6.32 | 8.61 | 15.16 | — | — |
| Price to Free Cash Flow Ratio (P/FCF) | -10.77 | -19.88 | -26.63 | -22.61 | -48.91 | -40.96 | — | — | -91.31 |
| Enterprise Value to Sales (EV/Sales) | — | 18.17 | 19.62 | 18.46 | 26.72 | 30.42 | 35.35 | — | — |
| Enterprise Value to EBITDA (EV/EBITDA) | -11.55 | -39.52 | -38.30 | -27.80 | -16.11 | -84.99 | -90.70 | — | — |
| Debt to Equity Ratio | -0.09 | 0.11 | 0.10 | 0.09 | 0.31 | 0.42 | 0.74 | — | — |
📰 Market News & Coverage
15 Stories AvailableReal-time institutional reporting and market updates for SI.
Shoulder Innovations to Participate in the Canaccord Genuity 46th Annual Growth Conference
GRAND RAPIDS, Mich., July 29, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today announced that members of management will present at the Canaccord Genuity 46th Annual Growth Conference.
Silicon Metals Corp. Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2026) - SILICON METALS CORP. (CSE: SI) (OTC Pink: SLCNF) (FSE: X6U0) ("Silicon Metals" or the "Company") would like to provide an update with respect to its previously announced letter of intent with OIG Overseas Investment Group Ltd.
Shoulder Innovations to Report Second Quarter 2026 Financial Results on August 6, 2026
GRAND RAPIDS, Mich., July 14, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today announced it will release financial results for the second quarter of 2026 after market close on Thursday, August 6, 2026.
Shoulder Innovations Announces Closing of up to $50 Million Credit Facility
Refinancing Existing Debt with Significantly Improved Terms Provides Additional Undrawn Working Capital Capacity GRAND RAPIDS, Mich., June 29, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the Company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today announced the closing of two new credit facilities for an aggregate amount of up to $50 million with Stifel Venture Banking.
Wall Street Analysts See a 51.79% Upside in Shoulder Innovations, Inc. (SI): Can the Stock Really Move This High?
The consensus price target hints at a 51.8% upside potential for Shoulder Innovations, Inc. (SI). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Travel + Leisure Co. Breaks Ground on Sports Illustrated Resorts Destination in Tuscaloosa, Alabama
[url="]Travel Leisure Co.[/url] (NYSE: TNL), a leading leisure travel company, today announced the groundbreaking of a new Sports Illustrated Resorts destinat
Shoulder Innovations to Participate in the Goldman Sachs 47th Annual Global Healthcare Conference
GRAND RAPIDS, Mich., May 26, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today announced that members of management will participate in the Goldman Sachs 47th Annual Global Healthcare Conference in Miami Beach, FL on Tuesday, June 9, 2026.
Wall Street Analysts Think Shoulder Innovations, Inc. (SI) Could Surge 35.96%: Read This Before Placing a Bet
The average of price targets set by Wall Street analysts indicates a potential upside of 36% in Shoulder Innovations, Inc. (SI). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Shoulder Innovations, Inc. (SI) Q1 2026 Earnings Call Transcript
Shoulder Innovations, Inc. (SI) Q1 2026 Earnings Call Transcript
Shoulder Innovations, Inc. (SI) Reports Q1 Loss, Tops Revenue Estimates
Shoulder Innovations, Inc. (SI) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.44. This compares to a loss of $52.13 per share a year ago.
Shoulder Innovations Reports First Quarter 2026 Financial Results and Raises Full Year Outlook
Generates First Quarter Net Revenue Growth of 65% Year-Over-Year GRAND RAPIDS, Mich., May 13, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today reported financial results for the first quarter ended March 31, 2026.
Silicon Metals Corp. Announces Stock Option Grant
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2026) - SILICON METALS CORP. (CSE: SI) (OTC Pink: SLCND) (FSE: X6U0) ("Silicon Metals" or the "Company") is pleased to announce it has granted an aggregate of 603,100 stock options (collectively, the "Options") to certain directors of the Company for the purchase of up to 603,100 common shares in the capital of the Company (each a "Share"), pursuant to the Company's Stock Option Plan.
Silicon Metals Corp. Announces Private Placement of up to $600,000
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2026) - SILICON METALS CORP. (CSE: SI) (OTC Pink: SLCND) (FSE: X6U0) ("Silicon Metals" or the "Company") is pleased to announce that it intends to issue up to 4,444,444 units (the "Offering") at a price per unit of $0.135 (each, a "Unit").
Shoulder Innovations Initiates Full Commercial Launch of the InSet™ I-135RFX Humeral Stem
Latest Addition to I-Series Product Line Follows a Successful Limited Market Release and FDAClearance of Additional Fracture Indications GRAND RAPIDS, Mich., April 27, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the Company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today announced full commercial launch of the InSet™ I-135RFX Humeral Stem ("InSet™ I-135RFX").
Shoulder Innovations to Report First Quarter 2026 Financial Results on May 13, 2026
GRAND RAPIDS, Mich., April 22, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. ("Shoulder Innovations") (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today announced it will release financial results for the first quarter of 2026 after market close on Wednesday, May 13, 2026.
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📊 AI Financial Analysis
Powered by StockMarketInfo"SI reported Q1 2026 revenue of $16.7M, up +16.0% QoQ from $14.4M (Q4 2025) and +64.9% YoY from $10.1M (Q1 2025). Net income was -$8.38M (EPS -$0.41). Losses narrowed vs. QoQ (-$7.77M in Q4 2025) but widened vs. YoY (-$4.66M in Q1 2025), indicating that the faster top-line growth has not yet translated into profitability. Gross margin stayed strong and stable (77.7% in Q1 2026 vs. 77.0% Q4 and 76.9% Q1 last year), while operating margin remained deeply negative (-53.7%), primarily reflecting elevated operating costs. Cash flow quality was weak: operating cash flow was -$12.36M and free cash flow was -$15.09M in Q1 2026. The balance sheet remains liquid, with cash and short-term investments totaling ~$108.5M and total assets of ~$160.4M. Leverage appears manageable with total debt of ~$15.0M and net debt of ~$3.5M. Shareholder return is mixed: the stock is up +21.95% over 6 months but flat over the last year (-0.33% 1y_change), suggesting limited 1-year price momentum. No dividend or buyback activity is evident in the cash flow statement."
Revenue Growth
Revenue accelerated to $16.7M in Q1 2026 (+16.0% QoQ, +64.9% YoY), showing a clear upward trajectory.
Profitability
Gross margin held ~77% (77.7% in Q1 2026 vs. 77.0% QoQ and 76.9% YoY), but operating margin stayed severely negative (-53.7%). Net income loss worsened vs. YoY (-$8.38M vs. -$4.66M) despite some QoQ improvement.
Cash Flow Quality
Operating cash flow was -$12.36M and free cash flow -$15.09M in Q1 2026, indicating continued cash burn. No dividends or buybacks are shown.
Leverage & Balance Sheet
Liquidity is strong (cash + short-term investments ~$108.5M) and debt is modest (~$15.0M). Net debt is low (~$3.5M), suggesting resilience even with ongoing losses.
Shareholder Returns
Total shareholder return signals are mixed: +21.95% over 6 months, but -0.33% 1-year change. With no dividends/buybacks in the period, returns likely rely on price momentum rather than capital returns.
Analyst Sentiment & Valuation
Street target (consensus) is 21 vs. current price 15 (~+40% upside). However, negative earnings and cash burn keep valuation risk elevated.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Fundamentals Overview
SI delivered a strong Q1 2026 with net revenue of $16.7M (+65% YoY, +16% sequential) and gross margin of 77.7% (+80 bps YoY). Growth was attributed to broad-based execution: accelerated new surgeon entry into the funnel, faster prospect-to-core conversion (core strongest growth), and increased utilization across existing surgeons (2,184 units, +51% YoY), with ASP lift supported by commercial negotiation skill and higher-ASP product mix. The company raised FY2026 net revenue guidance to $65M–$68M (+37% to +44% YoY), explicitly factoring seasonality (lighter Q3, step-up in Q4) and late-year ASP softness tied to reverse/payer mix. Margin expansion was supported by cost-down programs, while operating losses widened due to higher SG&A and R&D investments (including robotic partnership milestone/development). Cash burn rose in Q1 from inventory/asset build, but management expects significantly lower burn starting Q2, with $108.5M cash on hand.
Growth Catalysts
- New surgeon adoption and faster funnel entry (Q1 new customers more than doubled vs Q1 2025)
- Higher conversion within funnel prospect to contender to core (notably strongest growth in core category, with moderating contender growth by design)
- Increased utilization/implant volume from existing surgeons (total implant volume +51% YoY to 2,184 units)
- Pricing/ASP improvement supported by commercial execution and higher ASP product mix (net revenue +65% YoY, +16% sequential)
- Product/label momentum: I-135RFX expanded indication and transition from limited user release to full commercial launch
Business Development
- Strategic partnership with Interventional Systems for a shoulder-specific micro-robotic solution integrated with ProVoyance
- Clinical/surgical workflow ecosystem integration across InSet Shoulder arthroplasty portfolio and ProVoyance preoperative planning platform
Financial Highlights
- Net revenue: $16.7M, +65% YoY and +16% sequential
- Gross margin: 77.7% vs 76.9% prior year (+80 bps); margin improvement attributed to improved ASPs plus cost-down program benefits
- SG&A: $18.2M vs $10.5M prior year; SG&A as % of revenue improved from 128% (Q3 2025) to 109% (Q1 2026) (-19 pp, -1900 bps)
- R&D: $3.8M vs $1.6M prior year; increase tied to a second milestone payment and robotic platform development costs
- Loss metrics: net loss $8.4M vs $4.7M prior year; adjusted EBITDA loss $7.0M vs $3.5M prior year—driven by higher operating expenses
- Cash burn: Q1 burn increased due to proactively higher inventory and asset purchases; company expects significantly lower cash burn starting Q2
Capital Funding
- Cash & cash equivalents (Mar 31, 2026): $108.5M
- No explicit buyback or debt figures disclosed in the transcript
- Management indicated inventory/asset build in H1 2026 to support accelerated growth, with lower burn expected from Q2 onward
Strategy & Ops
- W-2 commercial leadership expansion and added commercial leadership talent through Q1 to support scaling and additional hospital approvals in new territories
- CEME execution: 44 SI-sponsored educational events in Q1 (excluding industry meetings); April National Symposium of 2026 in Napa Valley—surge in attendance (+70% YoY) and >70% of non-core/contender attendees taking actions (first case performed, committed, or committed to increase volume) within weeks
- I-135RFX: expanded clearance to more complex fractures; transition from limited user release to full commercial launch 2 weeks prior to call
- N22 Glenosphere: limited user release initiated in Q1; management cited reception tied to allergic reactions for metal implants and expects further updates on full launch plans
- Robotics development: cadaver lab in March covering CT→ProVoyance→robot operation→implant placement; targeting 510(k) submission in 2027
Market Outlook
- Raised FY 2026 net revenue guidance to $65M–$68M (+37% to +44% YoY) from prior $62M–$65M (+31% to +37% YoY)
- Guidance implies seasonal pattern: lighter sequential volumes in Q3 before a step-up in Q4
- Management expects gross margin broadly similar for balance of 2026, with quarter-to-quarter fluctuations possible by product mix and ASP
- SG&A as % of revenue expected to increase slightly from Q1; more significant in Q2 and Q3 before declining in Q4
- R&D as % of revenue expected to moderate late in 2026
Risks & Headwinds
- No explicit adverse risks (e.g., churn, competitive setbacks, tariff/yield issues) were cited in the transcript; management stated no view of marketplace changes that would fundamentally change trajectory
- Seasonality: Q3 expected lighter sequential volumes; ASP affected by reverse mix/payer mix (management referenced lower ASP late-year similar to Q4 2025)
Q&A: Analyst Interest
- Q1 drivers & sequential inflection: Management attributed the quarter’s performance to execution across priorities—new customer growth (including faster funnel entry), increased volume from existing surgeons, and ASP lift. They emphasized the combined commercial and CEME operating model supported by their business intelligence platform identifying the right targets and spending.
- Updated guidance risk-adjustment: Management described annual guidance as set with high conviction early in the year, incorporating variables like ASPs, units, and new customers. They reiterated no fundamental marketplace change in their view and highlighted standard seasonality (lighter Q3, step-up Q4) rather than any additional negative factors.
- ASP durability & growth composition: Management said ASP improvement came from pricing focus—selecting centers to sell higher-priced SKUs and navigating negotiations more effectively. They characterized Q1 new products as slightly ahead of schedule with limited contribution, expecting ASPs to vary but remain “in this neighborhood” through the rest of the year.
Sentiment: POSITIVE
Note: This summary was synthesized by AI from the SI Q1 2026 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.
📋 Official Regulatory 10-K / 10-Q SEC Filings
Direct authenticated documentation links to audited SEC database reports for SI.