Overview

• U.S. medical device maker's Q1 revenue rose 11%, beating analyst expectations

• Net loss for Q1 narrowed from prior year

• Company raised 2026 revenue and gross margin guidance

Outlook

• SI-BONE raises 2026 revenue guidance to $230 mln-$233 mln, implying 14-16% growth

• Company lifts full-year gross margin outlook to ~79% from ~78% previously

• SI-BONE expects positive adjusted EBITDA for 2026

Result Drivers

• U.S. ADOPTION - Co said U.S. revenue growth was driven by expanded adoption of its product portfolio across all sites of care and increased sales channel coverage

• INTERNATIONAL EXPANSION - Co said international revenue growth reflected growing demand for iFuse TORQ following launches in Europe and Australia

• PHYSICIAN ENGAGEMENT - Co reported a 17% increase in active U.S. physicians, supporting higher procedure volumes

Company press release: ID:nGNXbBkYh2

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$52.6 mln	$51.11 mln (8 Analysts)
Q1 Net Income		-$4.3 mln
Q1 Gross Margin		79.80%
Q1 EPS		-$0.10

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for SI-BONE Inc is $25.00, about 103.7% above its May 8 closing price of $12.27

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.