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SI-BONE (SIBN) investor relations material

SI-BONE Piper Sandler 37th Annual Healthcare Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Piper Sandler 37th Annual Healthcare Conference summary2 Dec, 2025

Business performance and growth drivers

  • Achieved 21% revenue growth in Q3, with four consecutive quarters of adjusted EBITDA profitability and recent net cash break-even periods.

  • Saw 27% year-over-year growth in physicians performing procedures, reaching over 1,500 surgeons in Q3 and projecting 2,500 for 2025.

  • Built a strong reputation for innovation, supported by over 180 peer-reviewed publications and a robust educational approach.

  • Utilizes a hybrid commercial model with 88 territory managers and 300+ third-party agents, expanding U.S. market reach.

  • Focused on increasing procedure volume per physician and expanding into new procedure types, targeting a large addressable market of 12,000 spine surgeons and interventionalists.

Product innovation and pipeline

  • Diversified product portfolio beyond original SI joint fusion, including Granite and TNT breakthrough devices for pelvic fixation and ring fractures.

  • Majority of current sales are from iFuse 3D, with patent protection through 2034-2035.

  • New breakthrough device targeting compromised bone to launch in the second half of 2026, addressing a major unmet clinical need in spine.

  • Ongoing development of anatomy-specific, 3D-printed implants for patients with poor bone quality.

  • Plans to leverage existing salesforce for new product launches, aiming for a halo effect across the portfolio.

Market opportunity and penetration

  • U.S. SI dysfunction market is estimated at 10% penetration, with significant room to grow to 15-20% and beyond.

  • Granite product targets a billion-dollar sacral pelvic fixation market, with opportunities to expand share in both long and short construct cases.

  • New products designed for ASC environments and simpler workflows to drive broader adoption among surgeons and interventionalists.

  • Not yet disclosing total addressable market for upcoming products but signals strong excitement about future opportunities.

IP strategy post-patent expiration
2026 product's market potential
Gross margin outlook and drivers
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Frequently asked questions

SI-BONE Inc. is a medical technology company that develops and markets minimally invasive surgical solutions for the treatment of sacroiliac (SI) joint disorders. The company's primary product, iFuse Implant System, is designed to treat conditions such as sacroiliac joint dysfunction and sacroiliitis by providing stabilization and fusion of the SI joint. SI-BONE’s solutions aim to improve patient outcomes and reduce pain for individuals with lower back conditions linked to the SI joint. The company is headquartered in Santa Clara, California, and its shares are listed on the NASDAQ.

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