#United States #Grand Rapids #financial results #Q3 2025 #Shoulder Innovations

Shoulder Innovations Reports Third Quarter 2025 Financial Results

On November 11, 2025, Shoulder Innovations, Inc. (NYSE: SI), a pioneering medical technology company focused solely on revolutionizing shoulder surgical care, released its financial results for the third quarter ending September 30, 2025. The company demonstrated impressive growth, reporting a robust revenue increase and promising developments that contribute to its upward trajectory in the market.

Financial Highlights

In the third quarter, Shoulder Innovations achieved a remarkable revenue of $11.8 million, reflecting a 58% increase compared to $7.5 million in the same quarter of the previous year. The notable growth was driven by a sale of 1,584 implant systems, marking a 53% rise year-over-year. The company also recorded a substantial gross margin of 76.2% during this period.

Business Development

Shoulder Innovations recently expanded its product line, launching the InSet™ 70 within the I-Series humeral stem product family. Furthermore, the company received FDA 510(k) clearance, allowing the I-Series to encompass fracture indications. CEO Rob Ball expressed excitement regarding the accelerated momentum the company is experiencing, increasing its full-year revenue guidance based on the successful third-quarter results.

Rob noted, "We continue to add new surgeon customers and drive rapid adoption of our advanced implant systems, while maintaining our focus on delivering additional innovations to market." He emphasized the vast opportunity for growth in the $2.8 billion global market and highlighted the company’s unique approach that integrates a disruptive ecosystem of products, digital solutions, and commercial models.

Financial Overview 2025

Despite the strong revenue performance, selling, general and administrative expenses surged by 78% to $15.1 million, primarily due to increased headcount and rising legal costs associated with litigation and operating as a public entity. Research and development expenditures also jumped 40% to $1.5 million as investments in new product developments were prioritized.

A net loss of $8.7 million was reported for the quarter, compared to $4.1 million in the same period the prior year, illustrating the challenges of rising operating costs and liabilities associated with preferred stock. Adjusted EBITDA likewise saw a decline, recorded as a loss of $7.5 million, up from $2.9 million in Q3 2024.

Cash Position

As of September 30, 2025, the company’s cash, cash equivalents, and marketable securities totaled approximately $137 million, buoyed by about $115 million raised from the issuance of convertible notes and initial public offering that concluded in August 2025. This solid cash position positions Shoulder Innovations for potential investments and expansions in its product offerings.

Updated Forecast

For the full fiscal year 2025, Shoulder Innovations revised its revenue projections upward, now anticipating between $45 million and $46 million, reflecting a growth estimate of 42% to 45% compared to the previous year. This updated guidance is a significant revision from the earlier forecast of $42 million to $44 million.

Conclusion

Management is optimistically moving forward and will host a conference call to elaborate on the recent results and future growth strategies. Shoulder Innovations stands poised to make further advancements in the shoulder surgical care market, addressing the challenges of shoulder arthroplasty, with an innovative suite of products and solutions aimed at enhancing surgical care outcomes. As the outpatient setting for shoulder surgeries continues to grow, the company's strategic positioning is manifesting as a cornerstone for capturing further market share.

Further details about the conference call can be found on Shoulder Innovations' Investor Relations page. Investors, analysts, and interested parties are encouraged to participate to gain insights directly from the company's leadership.