Si-Bone posts Q3 revenue in-line with Wall Street consensus - Mass Device

Si-Bone (NSDQ:SIBN) this week posted third-quarter results that bushed the net statement connected Wall Street and were successful enactment with gross estimates.

The Santa Clara, California-based orthopedic implant institution reported nett losses of $14.2 million, oregon -41¢ per share, connected income of $26.43 cardinal for the 3 months ended Sept. 30, for a income maturation of 18.6%. Profit losses were up somewhat from Q3 2021 erstwhile it reported $15.9 cardinal successful losses.

Earnings per stock were 7¢ up of the Street, wherever analysts were looking for income of $26.43 million.

“We are encouraged by the continuing top-line acceleration successful our concern and the expanding operating leverage we were capable to make successful the quarter,” President and CEO Laura Francis said successful a quality release. “With a grounds U.S. progressive surgeon basal and increasing surgeon enthusiasm for iFuse-Bedrock Granite, I americium energized astir the semipermanent imaginable for the business. As we look beyond 2022, we stay assured that our seasoned U.S. income force, combined with favorable reimbursement tailwinds and our best-in-class portfolio positions america to thrust maturation portion expanding operational ratio and income unit productivity.”

Si-Bone expects gross for FY 2022 to beryllium successful the scope of $104 cardinal to $105 cardinal to correspond maturation of astir 16% to 17% year-over-year.

Shares of SIBN were down 13.63% to $14.48 apiece successful mid-morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest aesculapian instrumentality companies — was up slightly.