SI-BONE, Inc. — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 68/100
What the filing says
SI-BONE reported Q3 2026 worldwide revenue of $55.7M (+14.5% YoY), U.S. revenue $52.8M (+13.9%), with ~19.5% procedure volume growth and 1,770 active physicians (+16%). Net loss improved to $3.6M (−20.7%) and adjusted EBITDA reached $3.0M. The company received FDA 510(k) clearance in September for iFuse Granite Onyx, a breakthrough device targeting spine fusion failures with estimated TAM of ~$1.5B annually, expanding total addressable market to ~$5B. October DRG changes increased reimbursement by up to ~$50K per qualifying procedure. Company reaffirmed 2026 revenue guidance of $231–$233M (~15–16% growth) and reduced operating expense growth guidance to 10.5% from 12.0%.
Why this rating
FDA breakthrough clearance and DRG reimbursement boost are material catalysts; revenue growth moderates but profitable EBITDA and strong cash position support strategy. Significance is meaningful but not transformational at $800M market cap.
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