SI-BONE Shares Surge 19% on Expected Higher 4Q, Full-Year Revenue

SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving sacropelvic disorders, has seen its shares rise by 19% following the announcement of expected higher revenue for the fourth quarter and full year 2024. The company's shares were up to $16.34 by early Monday afternoon, driven by strong financial performance and positive market sentiment.

SI-BONE reported preliminary revenue results for the fourth quarter and full year 2024, highlighting a fourth-quarter revenue between $48.8 million and $49.0 million, a growth of approximately 26% year-over-year. The company also achieved adjusted EBITDA profitability during this quarter, indicating improved operational efficiency and financial health. For the full year 2024, worldwide revenue is expected to be between $167.0 million and $167.1 million, reflecting a 20% increase from the previous year.

The company's strong financial performance can be attributed to several key factors, including:

1. Increased Procedure Volume: SI-BONE has seen a significant increase in the number of procedures performed using its devices. In 2023, over 1,600 U.S. physicians performed more than 15,000 procedures, representing a 32% increase from the previous year. This growth in procedure volume directly contributes to the company's revenue growth.
2. Expansion of Active Physicians: SI-BONE has successfully expanded its market presence by increasing the number of active physicians using its products. By the end of 2024, the company expects to have around 1,390 active U.S. physicians, a 23% increase from the previous year. This expansion allows SI-BONE to reach more patients and generate more revenue.
3. Launch of New Products: SI-BONE has been launching new products and indications, such as the iFuse Bedrock Granite implant with S1 and pediatric deformity indication, and the iFuse INTRA allograft procedure. These new offerings help the company tap into new markets and attract more customers, driving revenue growth.
4. Favorable Demand Dynamics: The company has benefited from favorable demand dynamics in the healthcare sector, with an increasing number of patients and physicians seeking solutions for sacropelvic disorders. This trend has contributed to the growth in SI-BONE's revenue.
5. Operational Efficiency: SI-BONE has been driving substantial operating leverage and reducing cash usage, as evidenced by the improvement in adjusted EBITDA loss in the fourth quarter of 2023. This improved operational efficiency has helped the company achieve adjusted EBITDA profitability in the fourth quarter of 2024.

SI-BONE's market presence and physician network expansion have significantly impacted its financial performance. The company has grown its active U.S. physician base by approximately 23% to about 1,390, showcasing growth in market presence and potential for future revenue expansion. This growth in market presence and physician network has translated into impressive revenue increases. In the fourth quarter of 2024, SI-BONE reported U.S. revenue growth of around 28%, reaching between $46.7 to $46.9 million. Additionally, the company achieved adjusted EBITDA profitability during this quarter, indicating improved operational efficiency and financial health.

SI-BONE has implemented several strategic initiatives to drive long-term growth and adapt to market shifts. These initiatives include expanding market presence, diversifying product portfolio, investing in research and development, strengthening financial performance, launching new products, and focusing on adjusted EBITDA breakeven. These strategic moves have helped SI-BONE adapt to market shifts and drive long-term growth.




In conclusion, SI-BONE's expected higher revenue for the fourth quarter and full year 2024, driven by increased procedure volume, expansion of active physicians, launch of new products, favorable demand dynamics, and operational efficiency, has contributed to the company's strong financial performance. The company's strategic initiatives and market presence expansion have further enhanced its growth prospects. Investors should closely monitor SI-BONE's progress as the company continues to execute on its growth strategy and deliver value to shareholders.