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Shoulder Innovations, Inc.

Regulated industry Physical products Sells to businessesTags from an AI model reading the company description.

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Key Metrics

Previous Close: $18.75
52-Week Range: $10.92 – $24.60
Market Cap: $395.77M
P/E (TTM): 23.47
EPS (TTM): —
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: —
Gross Margin: —
Operating Margin: —
Profit Margin: —
Current Ratio: —
Debt/Equity: —
Total Debt: —
Free Cash Flow: —
Revenue Growth: —
Earnings Growth: —
Enterprise Value: —

SI Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025
Revenue	$19.27M	$31.62M	$47.32M
Cost of Revenue	$4.00M	$7.28M	$11.12M
Gross Profit	$15.27M	$24.34M	$36.20M
Research & Development	$3.02M	$4.49M	$7.73M
Selling, General & Admin	$23.11M	$34.51M	$54.77M
Operating Expenses	$26.13M	$38.99M	$62.50M
Operating Income	-$10.86M	-$14.65M	-$26.30M
EBITDA	-$10.25M	-$12.11M	-$37.08M
Pretax Income	-$12.65M	-$15.62M	-$40.36M
Income Tax	$0.00	$0.00	$0.00
Net Income	-$12.65M	-$15.62M	-$40.36M
Diluted EPS	-0.63	-0.77	-4.65
Diluted Shares	20.23M	20.23M	8.67M

SI Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025
Cash & Equivalents	$6.24M	$6.12M	$26.87M
Receivables	$4.69M	$5.12M	$8.27M
Inventory	$9.92M	$13.96M	$21.59M
Current Assets	$47.85M	$35.13M	$157.16M
Total Assets	$54.29M	$43.08M	$169.91M
Current Liabilities	$4.28M	$7.65M	$14.20M
Long-Term Debt	$14.35M	$14.66M	$14.91M
Total Debt	$14.46M	$14.73M	$15.02M
Total Liabilities	$94.03M	$97.78M	$29.16M
Retained Earnings	-$41.42M	-$57.04M	-$97.40M
Shareholders' Equity	-$39.74M	-$54.70M	$140.75M
Working Capital	$43.56M	$27.48M	$142.97M
Net Debt	$8.12M	$8.54M	—

SI Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025
Operating Cash Flow	-$13.14M	-$14.14M	-$28.61M
Capital Expenditure	-$2.75M	-$4.01M	-$7.41M
Free Cash Flow	-$15.89M	-$18.16M	-$36.02M
Depreciation & Amortisation	$1.64M	$2.20M	$3.21M
Stock-Based Compensation	$451.00K	$754.00K	$996.00K
Investing Cash Flow	-$28.97M	$13.96M	-$95.60M
Financing Cash Flow	$44.73M	$66.00K	$144.96M
Net Change in Cash	$2.61M	-$113.00K	$20.75M

SI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$10.13M	$11.01M	$11.76M	$14.42M	$16.71M	$17.18M
Cost of Revenue	$2.34M	$2.62M	$2.79M	$3.36M	$3.72M	$3.73M
Gross Profit	$7.79M	$8.39M	$8.96M	$11.06M	$12.99M	$13.44M
Research & Development	$1.58M	$1.41M	$1.52M	$3.22M	$3.75M	$3.39M
Selling, General & Admin	$10.50M	$12.85M	$15.08M	$16.34M	$18.21M	$20.09M
Operating Expenses	$12.09M	$14.26M	$16.60M	$19.56M	$21.96M	$23.48M
Operating Income	-$4.29M	-$5.86M	-$7.64M	-$8.50M	-$8.98M	-$10.04M
EBITDA	-$3.63M	-$18.26M	-$7.81M	-$7.38M	-$7.84M	-$8.90M
Pretax Income	-$4.66M	-$19.20M	-$8.73M	-$7.77M	-$8.38M	-$10.15M
Income Tax	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Net Income	-$4.66M	-$19.20M	-$8.73M	-$7.77M	-$8.38M	-$10.15M
Diluted EPS	-0.23	-0.95	-0.64	-0.38	-0.41	-0.49
Diluted Shares	20.23M	20.23M	13.60M	20.60M	20.65M	20.74M

SI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$6.37M	$27.05M	$54.93M	$26.87M	$11.49M	$24.46M
Receivables	$6.58M	$6.89M	$7.08M	$8.27M	$10.55M	$10.87M
Inventory	$13.10M	$17.08M	$19.36M	$21.59M	$21.83M	$22.92M
Current Assets	$49.61M	$68.91M	$166.61M	$157.16M	$145.78M	$137.41M
Total Assets	$57.52M	$77.83M	$177.76M	$169.91M	$160.36M	$152.01M
Current Liabilities	$6.99M	$12.49M	$15.02M	$14.20M	$12.34M	$12.83M
Long-Term Debt	$14.72M	$14.78M	$14.85M	$14.91M	$14.96M	$14.81M
Total Debt	$14.77M	$14.87M	$14.92M	$15.02M	$15.01M	$14.85M
Total Liabilities	$116.84M	$156.03M	$29.93M	$29.16M	$27.34M	$27.68M
Retained Earnings	-$61.70M	-$80.90M	-$89.63M	-$97.40M	-$105.78M	-$115.93M
Shareholders' Equity	-$59.31M	-$78.20M	$147.83M	$140.75M	$133.02M	$124.33M
Working Capital	$42.62M	$56.42M	$151.59M	$142.97M	$133.44M	$124.58M
Net Debt	$8.35M	—	—	—	$3.47M	—

SI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$6.48M	-$4.80M	-$8.55M	-$8.78M	-$12.36M	-$7.39M
Capital Expenditure	-$843.00K	-$1.47M	-$2.81M	-$2.28M	-$2.73M	-$2.16M
Free Cash Flow	-$7.32M	-$6.26M	-$11.37M	-$11.06M	-$15.09M	-$9.55M
Depreciation & Amortisation	$668.00K	$717.00K	$843.00K	$980.00K	$1.13M	$1.13M
Stock-Based Compensation	$127.00K	$190.00K	$298.00K	$381.00K	$726.00K	$1.08M
Investing Cash Flow	-$13.07M	$7.19M	-$72.44M	-$17.28M	-$3.12M	$20.44M
Financing Cash Flow	$19.79M	$18.29M	$108.87M	-$2.00M	$101.00K	-$84.00K
Net Change in Cash	$247.00K	$20.68M	$27.88M	-$28.06M	-$15.38M	$12.97M

Market Snapshot

About

Shoulder Innovations is a medical device company focused on developing and commercializing innovative solutions for shoulder surgery. The company designs implants and instruments used in shoulder replacement and repair procedures. Shoulder Innovations targets the orthopedic surgical market with specialized products.