SI-BONE, Inc. — Form 10-Q

SI-BONE entered into a Fifth Amendment (effective September 11, 2026) to its Loan and Security Agreement with Silicon Valley Bank (now First-Citizens Bank & Trust Company), originally dated August 12, 2021. The amendment modifies Section 5.10 (Financial Covenant Net Revenue): commencing June 30, 2027, the company must achieve specified Net Revenue levels (on trailing 6-month GAAP basis, tested quarterly), with target amounts to be documented in a separate amendment by September 30, 2027 (or immediately upon cash falling below a redacted threshold). The company must deliver 2027 projections showing year-over-year growth acceptable to the bank. However, Net Revenue testing is waived in any quarter if unrestricted cash at the bank exceeds a redacted amount OR if Adjusted EBITDA (trailing 6-month) meets a redacted threshold. Failure to execute the amended covenant schedule by the deadlines constitutes an immediate non-curable event of default.