(SIBN) Si-Bone - Overview

Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 651m USD | Total Return: -22.1% in 12m

Titanium Implants, Surgical Instruments, Bone Grafting, Orthopedic Devices
Total Rating 33
Safety 33
Buy Signal 0.13
Medical Devices
Industry Rotation: +4.5
Market Cap: 651M
Avg Turnover: 8.89M
Risk 3d forecast
Volatility48.1%
VaR 5th Pctl7.71%
VaR vs Median-2.79%
Reward TTM
Sharpe Ratio-0.33
Rel. Str. IBD11.8
Rel. Str. Peer Group27.1
Character TTM
Beta1.090
Beta Downside1.022
Hurst Exponent0.480
Drawdowns 3y
Max DD59.83%
CAGR/Max DD-0.29
CAGR/Mean DD-0.42
EPS (Earnings per Share) EPS (Earnings per Share) of SIBN over the last years for every Quarter: "2021-03": -0.37, "2021-06": -0.42, "2021-09": -0.48, "2021-12": -0.43, "2022-03": -0.52, "2022-06": -0.54, "2022-09": -0.41, "2022-12": -0.32, "2023-03": -0.32, "2023-06": -0.3, "2023-09": -0.25, "2023-12": -0.27, "2024-03": -0.27, "2024-06": -0.22, "2024-09": -0.16, "2024-12": -0.11, "2025-03": -0.15, "2025-06": -0.14, "2025-09": -0.11, "2025-12": -0.04, "2026-03": -0.0986,
Last SUE: 2.39
Qual. Beats: 5
Revenue Revenue of SIBN over the last years for every Quarter: 2021-03: 20.442, 2021-06: 22.194, 2021-09: 22.286, 2021-12: 25.23, 2022-03: 22.439, 2022-06: 25.585, 2022-09: 26.432, 2022-12: 31.953, 2023-03: 32.708, 2023-06: 33.305, 2023-09: 34.014, 2023-12: 38.859, 2024-03: 37.867, 2024-06: 39.969, 2024-09: 40.34, 2024-12: 49.002, 2025-03: 47.29, 2025-06: 48.63, 2025-09: 48.656, 2025-12: 56.35, 2026-03: 52.588,
Rev. CAGR: 20.72%
Rev. Trend: 99.8%
Last SUE: 1.48
Qual. Beats: 1

Warnings

High Debt/EBITDA (13.8) with thin interest coverage (-6.1)

Interest Coverage Ratio -6.1 is critical

Altman Z'' -8.80 < 1.0 - financial distress zone

Tailwinds

Shakeout, Confidence

Description: SIBN Si-Bone

SI-BONE, Inc. (SIBN) is a Santa Clara-based medical device company specializing in minimally invasive surgical solutions for the sacroiliac joint, sacrum, and pelvic anatomy. The company develops and markets a proprietary portfolio of titanium implants, including the iFuse Bone, iFuse Torq, and Bedrock Granite systems, which utilize porous surfaces and additive manufacturing to facilitate osteointegration and joint stabilization.

Operating within the musculoskeletal medical device sector, SI-BONE utilizes a hybrid distribution model consisting of a direct sales force and third-party resellers to reach orthopedic surgeons and neurosurgeons. The company focuses on a high-specialization business model, addressing underserved clinical needs in pelvic fixation where traditional spinal fusion hardware may lack specific biomechanical optimization.

Investors may find it useful to examine ValueRay for further data on the companys market position. The medical device industry is characterized by high barriers to entry due to stringent regulatory approval processes and the necessity of extensive clinical data to secure insurance reimbursement coverage.

Headlines to Watch Out For
  • Expansion of direct sales force accelerates market penetration for iFuse products
  • Favorable commercial and Medicare reimbursement coverage drives procedure volume growth
  • Bedrock Granite adoption in complex spinal deformity surgeries expands addressable market
  • High gross margins face pressure from increased R&D and marketing expenditures
  • Regulatory clearance for new indications broadens clinical application and revenue potential
Piotroski VR-10 (Strict) 3.0
Net Income: -16.7m TTM > 0 and > 6% of Revenue
FCF/TA: 0.04 > 0.02 and ΔFCF/TA 6.74 > 1.0
NWC/Revenue: 93.70% < 20% (prev 102.1%; Δ -8.37% < -1%)
CFO/TA 0.01 > 3% & CFO 1.87m > Net Income -16.7m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 9.99 > 1.5 & < 3
Outstanding Shares: last quarter (44.0m) vs 12m ago 3.83% < -2%
Gross Margin: 79.59% > 18% (prev 0.79%; Δ 7.88k% > 0.5%)
Asset Turnover: 87.76% > 50% (prev 77.70%; Δ 10.05% > 0%)
Interest Coverage Ratio: -6.06 > 6 (EBITDA TTM -7.34m / Interest Expense TTM 2.56m)
Altman Z'' -8.80
A: 0.80 (Total Current Assets 214.7m - Total Current Liabilities 21.5m) / Total Assets 242.7m
B: -1.87 (Retained Earnings -454.6m / Total Assets 242.7m)
C: -0.07 (EBIT TTM -15.5m / Avg Total Assets 235.0m)
D: -7.12 (Book Value of Equity -454.1m / Total Liabilities 63.8m)
Altman-Z'' = -8.80 = D
Beneish M -3.19
DSRI: 0.99 (Receivables 31.0m/26.7m, Revenue 206.2m/176.6m)
GMI: 1.00 (GM 79.59% / 79.25%)
AQI: 0.67 (AQ_t 0.00 / AQ_t-1 0.00)
SGI: 1.17 (Revenue 206.2m / 176.6m)
TATA: -0.08 (NI -16.7m - CFO 1.87m) / TA 242.7m)
Beneish M = -3.19 (Cap -4..+1) = AA
What is the price of SIBN shares?

As of May 29, 2026, the stock is trading at USD 14.41 with a total of 474,384 shares traded.
Over the past week, the price has changed by -2.77%, over one month by +16.59%, over three months by -7.15% and over the past year by -22.07%.

Is SIBN a buy, sell or hold?

Si-Bone has received a consensus analysts rating of 4.56. Therefore, it is recommended to buy SIBN.

  • StrongBuy: 5
  • Buy: 4
  • Hold: 0
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the SIBN price?
Analysts Target Price 23.3 61.9%
Si-Bone (SIBN) - Fundamental Data Overview as of 25 May 2026
Market Cap USD = 651.0m (651.0m USD * 1.0 USD.USD)
P/S = 3.157
P/B = 3.6383
Revenue TTM = 206.2m USD
EBIT TTM = -15.5m USD
EBITDA TTM = -7.34m USD
Long Term Debt = 35.6m USD (from longTermDebt, last quarter)
Short Term Debt = 658k USD (from shortTermDebt, last quarter)
Debt = 43.6m USD (corrected: LT Debt 35.6m + ST Debt 658k) + Leases 7.35m
Net Debt = -101.1m USD (calculated: Debt 43.6m - CCE 144.7m)
Enterprise Value = 550.0m USD (651.0m + Debt 43.6m - CCE 144.7m)
Interest Coverage Ratio = -6.06 (Ebit TTM -15.5m / Interest Expense TTM 2.56m)
EV/FCF = 61.62x (Enterprise Value 550.0m / FCF TTM 8.93m)
FCF Yield = 1.62% (FCF TTM 8.93m / Enterprise Value 550.0m)
FCF Margin = 4.33% (FCF TTM 8.93m / Revenue TTM 206.2m)
Net Margin = -8.10% (Net Income TTM -16.7m / Revenue TTM 206.2m)
Gross Margin = 79.59% ((Revenue TTM 206.2m - Cost of Revenue TTM 42.1m) / Revenue TTM)
Gross Margin QoQ = 79.76% (prev 79.03%)
Tobins Q-Ratio = 2.27 (Enterprise Value 550.0m / Total Assets 242.7m)
Interest Expense / Debt = 5.86% (Interest Expense 2.56m / Debt 43.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = -12.2m (EBIT -15.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 7.60 (Total Current Assets 214.7m / Total Current Liabilities 28.2m)
Debt / Equity = 0.24 (Debt 43.6m / totalStockholderEquity, last quarter 178.9m)
 Debt / EBITDA = 13.77 (negative EBITDA) (Net Debt -101.1m / EBITDA -7.34m)
 Debt / FCF = -11.33 (Net Debt -101.1m / FCF TTM 8.93m)
Total Stockholder Equity = 174.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -7.11% (Net Income -16.7m / Total Assets 242.7m)
RoE = -2.65% (Net Income TTM -16.7m / Total Stockholder Equity 629.3m)
RoCE = -2.33% (EBIT -15.5m / Capital Employed (Equity 629.3m + L.T.Debt 35.6m))
 RoIC = -5.52% (negative operating profit) (NOPAT -12.2m / Invested Capital 221.9m)
 WACC = 9.49% (E(651.0m)/V(694.7m) * Re(9.82%) + D(43.6m)/V(694.7m) * Rd(5.86%) * (1-Tc(0.21)))
Discount Rate = 9.82% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 3.62%
[DCF] Terminal Value 71.52% ; FCFF base≈8.93m ; Y1≈8.96m ; Y5≈9.49m
[DCF] Fair Price = 5.07 (EV 123.6m - Net Debt -101.1m = Equity 224.7m / Shares 44.3m; r=9.49% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 2.39 | # QB: 5
Revenue Correlation: 99.81 | Revenue CAGR: 20.72% | SUE: 1.48 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.15 | Chg30d=+3.56% | Revisions=+14% | Analysts=0
EPS current Year (2026-12-31): EPS=-0.43 | Chg30d=+14.28% | Revisions=+56% | GrowthEPS=+2.6% | GrowthRev=+15.3%
EPS next Year (2027-12-31): EPS=-0.35 | Chg30d=+7.47% | Revisions=+25% | GrowthEPS=+17.7% | GrowthRev=+15.1%
[Analyst] Revisions Ratio: +56%