# SI-BONE, Inc. (SIBN)

> Source: Nexqual · https://nexqual.com/SIBN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SI-BONE, Inc. (SIBN), nexqual.com/SIBN" · informational, not investment advice.

**Price:** USD 21.56 (+3.55% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 20.82 · day 20.93–21.73 · 52w 11.48–21.89 · market cap $966M · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $214M, net income -$14.6M (-6.9% margin), free cash flow -$4.4M (SEC filings).
- 1 of 80 tracked superinvestors hold SIBN (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.67 on a 1–5 scale) (9 analysts), mean target USD 25.44 (range 20–32).
- Total return with dividends: 1Y +39.7% vs S&P 500 +14.9%; 5Y -2.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD -0.13, revenue estimate $55.3M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $90.2M | $106M | $139M | $167M | $201M | $214M |
| Gross profit | $79.7M | $90.7M | $109M | $132M | $160M | — |
| Operating income | -$51.7M | -$59.6M | -$46.9M | -$35.2M | -$22.3M | -$17.7M |
| Net income | -$56.6M | -$61.3M | -$43.3M | -$30.9M | -$18.9M | -$14.6M |
| EPS (diluted) | -$1.71 | -$1.79 | -$1.13 | -$0.75 | -$0.44 | — |
| Free cash flow | -$45.9M | -$51.2M | -$26.5M | -$22.9M | -$9.1M | -$4.4M |
| Gross margin | 88.4% | 85.2% | 78.8% | 79.0% | 79.6% | — |
| Operating margin | -57.3% | -56.0% | -33.8% | -21.1% | -11.1% | -8.3% |
| Net margin | -62.8% | -57.6% | -31.2% | -18.5% | -9.4% | -6.9% |
| Revenue growth | +22.8% | +18.0% | +30.5% | +20.4% | +20.2% | — |
| Cash + short-term investments | $141M | $84.6M | $156M | $142M | $139M | — |
| Total debt | $35.0M | $35.2M | $36.1M | $35.5M | $35.6M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 4.5x · EV/Sales 4.0x · P/B 5.3x · FCF yield -0.45% · Earnings yield -1.51% · Net cash $106M · EV $860M

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold SIBN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.02% | $12.5M | Added +20.4% |

## Analysts
Consensus Buy (mean 1.67 on a 1–5 scale), 9 analysts; mean target USD 25.44 (low 20, high 32).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Truist Securities | Target raised | Buy | $23 → $25 |
| 2026-08-04 | UBS | Target raised | Buy | $24 → $25 |
| 2026-08-04 | Truist Securities | Target raised | Buy | $21 → $23 |
| 2026-08-04 | TD Cowen | Target raised | Buy | $18 → $20 |
| 2026-07-28 | UBS | Initiated | Buy | $24 |
| 2026-07-16 | Truist Securities | Target raised | Buy | $18 → $21 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +39.7% | -2.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +39.9% | -0.5% |
| Volatility (annualized) | 47.8% | 54.5% |
| Max drawdown | -45.8% (Jan 2026→May 2026) | -57.8% (Jun 2023→Jun 2024) |

## Peers (Medical Devices)
NVCR (NovoCure Limited) USD 15.1 -3.14% · BFLY (Butterfly Network, Inc.) USD 6.81 -4.08% · ESTA (Establishment Labs Holdings Inc) USD 63.52 +1.99% · ALMR (Alamar Biosciences, Inc.) USD 29.72 -5.50% · INSP (Inspire Medical Systems, Inc.) USD 72.66 +2.24% · AXGN (AxoGen, Inc.) USD 36.68 +0.55%

## More
Full page: https://nexqual.com/SIBN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.13 | $-0.13 | -1.4% | $55.3M | 8 |
| Next quarter (ends 2026-12-31) | $-0.07 | $-0.05 | +54.3% | $68.2M | 8 |
| Current fiscal year (ends 2026-12-31) | $-0.40 | $-0.43 | -7.3% | $232.1M | 8 |
| Next fiscal year (ends 2027-12-31) | $-0.33 | $-0.35 | -6.2% | $268.4M | 8 |