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Si-Bone Inc (SIBN)


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Upturn Advisory Summary
10/15/2025: SIBN (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $24.78
1 Year Target Price $24.78
5 | Strong Buy |
4 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -32.95% | Avg. Invested days 27 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 657.68M USD | Price to earnings Ratio - | 1Y Target Price 24.78 |
Price to earnings Ratio - | 1Y Target Price 24.78 | ||
Volume (30-day avg) 9 | Beta 0.84 | 52 Weeks Range 11.70 - 20.05 | Updated Date 10/15/2025 |
52 Weeks Range 11.70 - 20.05 | Updated Date 10/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.57 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -12.83% | Operating Margin (TTM) -14.4% |
Management Effectiveness
Return on Assets (TTM) -7.59% | Return on Equity (TTM) -14.18% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 508736794 | Price to Sales(TTM) 3.55 |
Enterprise Value 508736794 | Price to Sales(TTM) 3.55 | ||
Enterprise Value to Revenue 2.75 | Enterprise Value to EBITDA -14.15 | Shares Outstanding 43140936 | Shares Floating 39242290 |
Shares Outstanding 43140936 | Shares Floating 39242290 | ||
Percent Insiders 2.96 | Percent Institutions 96.89 |
Upturn AI SWOT
Si-Bone Inc

Company Overview
History and Background
Si-Bone Inc. was founded in 2008 and is based in Santa Clara, California. The company is a medical technology company focused on developing and commercializing minimally invasive surgical solutions for musculoskeletal disorders of the sacropelvic anatomy. It initially focused on the iFuse Implant System, a minimally invasive surgical (MIS) device for SI joint fusion.
Core Business Areas
- Sacroiliac Joint Fusion: This segment focuses on the development, manufacturing, and marketing of the iFuse Implant System, used for the surgical treatment of sacroiliac (SI) joint dysfunction. This is Si-Bone's primary revenue driver.
- Other Related Products: Si-Bone also provides surgical instruments and related products for use during the iFuse procedure.
Leadership and Structure
Laura Sacha serves as the Chief Executive Officer of Si-Bone. The company has a board of directors that oversees its strategic direction. The organizational structure is typical of a medical device company, with departments for research and development, manufacturing, sales and marketing, and regulatory affairs.
Top Products and Market Share
Key Offerings
- iFuse Implant System: The iFuse Implant System is a minimally invasive surgical (MIS) device designed to stabilize and fuse the sacroiliac (SI) joint. It is the company's primary product, generating the majority of its revenue. Market share is approximately 25%. Competitors include Medtronic and Stryker, as well as smaller companies with SI joint fusion solutions.
Market Dynamics
Industry Overview
The market for sacroiliac joint fusion devices is growing due to an aging population, increased awareness of SI joint dysfunction as a source of lower back pain, and the increasing acceptance of minimally invasive surgical techniques. The market is moderately competitive.
Positioning
Si-Bone Inc. is a key player in the SI joint fusion market, with the iFuse Implant System being one of the most clinically studied and widely used MIS options. They have a strong brand recognition and a focus on clinical evidence to support their product's efficacy. However, larger orthopedic companies also compete in this market.
Total Addressable Market (TAM)
The estimated TAM for SI joint fusion is approximately $1 billion. Si-Bone is positioned to capture a significant portion of this market through its strong clinical data, established presence, and focus on minimally invasive solutions.
Upturn SWOT Analysis
Strengths
- Strong clinical data supporting iFuse efficacy
- Minimally invasive surgical approach
- Established market presence in SI joint fusion
- Focus on education and training for surgeons
Weaknesses
- Reliance on a single product (iFuse)
- Smaller size compared to larger orthopedic companies
- Profitability Concerns
- Limited product diversification
Opportunities
- Expanding into new geographic markets
- Developing new products for related musculoskeletal conditions
- Increasing adoption of MIS techniques
- Partnerships with larger orthopedic companies
Threats
- Competition from larger orthopedic companies
- Pricing pressure from insurance providers
- Regulatory changes affecting medical device approvals
- Potential for alternative treatments for SI joint dysfunction
Competitors and Market Share
Key Competitors
- MDT
- JNJ
- SWK
Competitive Landscape
Si-Bone's advantage lies in its specialization in SI joint fusion and its strong clinical data. However, it faces competition from larger, more diversified orthopedic companies with greater resources and broader product portfolios. MDT and JNJ are general orthopedic companies, and SWK has acquired companies in the spine and orthopedic sector.
Growth Trajectory and Initiatives
Historical Growth: Si-Bone has experienced steady revenue growth driven by increasing adoption of the iFuse Implant System.
Future Projections: Analysts predict continued revenue growth for Si-Bone, driven by expanding market penetration and new product development. Revenue growth is expected to be 10-15% in the next 3 years. Path to profitability is unclear
Recent Initiatives: Si-Bone is focused on expanding its sales force, investing in research and development, and pursuing strategic partnerships.
Summary
Si-Bone is a key player in the SI joint fusion market with a well-regarded product. The company has been growing steadily but is not yet profitable and faces competition from larger players. They need to carefully manage their resources, improve profitability, and continue innovating to maintain their market position. Recent initiatives such as focus on expanding sales and R&D will help drive additional growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings (10-K, 10-Q)
- Analyst Reports
- Company Website
- Press Releases
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Market data and projections are based on current estimates and are subject to change. Investment decisions should be based on your own due diligence and consultation with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Si-Bone Inc
Exchange NASDAQ | Headquaters Santa Clara, CA, United States | ||
IPO Launch date 2018-10-17 | CEO & Director Ms. Laura A. Francis MBA | ||
Sector Healthcare | Industry Medical Devices | Full time employees 349 | Website https://si-bone.com |
Full time employees 349 | Website https://si-bone.com |
SI-BONE, Inc., a medical device company, focuses on solving musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. The company offers proprietary minimally invasive surgical implant systems to address sacroiliac joint dysfunction and degeneration, adult deformity and degeneration, and pelvic trauma, as well as implantable bone products. It also provides iFuse-3D, a titanium implant that combines the triangular cross-section of the iFuse implant with a proprietary 3D-printed porous surface and fenestrated design; iFuse TORQ, a line of 3D-printed threaded implants designed for applications in pelvic trauma and sacroliliac fusion; and iFuse Bedrock Granite Implant System that provides sacroiliac fusion and sacropelvic fixation as a foundational element for segmental spinal fusion; and iFuse TORQ TNT to treat pelvic trauma and sacroiliac joint dysfunction, as well as iFuse INTRA implants that are marketed as human cells, tissues, and cellular or tissue-based products. The company markets its products primarily with a direct sales force, as well as through third-party sales agent and resellers. SI-BONE, Inc. was incorporated in 2008 and is headquartered in Santa Clara, California.

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