SI - NYSE

Shoulder Innovations, Inc.

SI·NYSE

$13.83

-1.2%

HealthcareMedical - Specialties

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.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$286.81M

EPS-0.0047

P/E Ratio-2942.55

Earnings Date07/24/2026

47.32M

Revenue

50%

3Y+145.0%

5Y+145.0%

10Y+145.0%

-40.36M

Net Income

158%

3Y+219.0%

5Y+219.0%

10Y+219.0%

-28.61M

Operating Cash Flow

102%

3Y+118.0%

5Y+118.0%

10Y+118.0%

Shoulder Innovations, Inc. Profit Bridge

SI · NYSE

Revenue & Cost of Sales

Revenue47.32M

Cost of Goods Sold (11.12M)

Gross Profit36.20M

Operating Expenses

Operating Expenses (62.50M)

Operating Income-26.30M

Other Income & Taxes

Interest Expense (70.00K)

Other Income/Expense-14.06M

Pretax Income-40.36M

Income Tax (0.00)

Net Income-40.36M

Net Income

-40.36M

Profitability Analysis

Gross Margin

76.5%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

-55.6%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-85.3%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

Shoulder Innovations, Inc. Income Statement

SI • NYSE

Shoulder Innovations, Inc. Income Statement	Dec 2025	Dec 2024	Dec 2023
REVENUE
Revenue	47.3M	31.6M	19.3M
GROSS PROFIT
Cost of Revenue	(11.1M)	(7.3M)	(4M)
Gross Profit	36.2M	24.3M	15.3M
OPERATING INCOME
Operating Expenses	(62.5M)	(39M)	(26.1M)
Selling, General & Administrative	(54.8M)	(34.5M)	(23.1M)
Research & Development	(7.7M)	(4.5M)	(3M)
Operating Income	-26.3M	-14.7M	-10.9M
PRE-TAX INCOME
Interest Expense	(70K)	(1.3M)	(761K)
Net Interest Income	0.0	-1.3M	-761K
Total Other Income Expenses Net	-14.1M	-966K	-1.8M
Income Before Tax	-40.4M	-15.6M	-12.7M
NET INCOME
Net Income	-40.4M	-15.6M	-12.7M

SEC Filings

SI - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
10-Q 10-Q 2026 Q1 Q1	May 13, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 13, 2026	May 13, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 29, 2026	June 26, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 27, 2026	April 27, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 14, 2026	April 13, 2026	2026	View Filing
10-K 10-K 2025 FY FY	March 10, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	March 10, 2026	March 10, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 02, 2026	February 26, 2026	2026	View Filing
8-K 8-K 2025 N/A	December 03, 2025	December 03, 2025	2025	View Filing
10-Q 10-Q 2025 Q3 Q3	November 12, 2025	September 30, 2025	2025	View Filing

Showing 1 to 10 of 18 filings

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