Shoulder Innovations (NYSE:SI) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Shoulder Innovations (NYSE:SI) posted its quarterly earnings data on Tuesday. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.04, Zacks reports. The firm had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $12.69 million.

Here are the key takeaways from Shoulder Innovations’ conference call:

• Company reported strong top-line momentum with Q4 revenue of $14.4M (+65% YoY), full-year 2025 revenue of $47.3M (+50% YoY), and initiated 2026 guidance of $62M–$65M (31%–37% growth).
• Commercial adoption accelerated — 134 core and contender surgeons (up 61% YoY) and implant volume rose 62% YoY in Q4 to 1,976 units (6,506 units for 2025, +50% YoY), reflecting faster conversion and higher utilization.
• Profitability pressure from scaling and public-company costs — gross margin remains healthy (~76.5%–76.7%) but net loss widened to $40.4M for 2025 and adjusted EBITDA loss was $36.1M, driven by higher SG&A (hiring, IPO/legal) and increased R&D (robotics investment).
• Product and technology initiatives could be differentiators — limited releases of the InSet I-135RFX and N-22 head, plus a partnership to deliver a portable, robotics-as-a-service solution integrated with ProVoyance, target ASC adoption and potential long-term market and design advantages.
• Strong liquidity supports growth plan — $124.3M cash at year-end 2025 with management expecting flat quarterly cash burn near-term and improved leverage later in 2026 as investments scale.

Shoulder Innovations Stock Performance

SI traded up $0.92 during trading hours on Wednesday, hitting $13.97. 91,928 shares of the stock were exchanged, compared to its average volume of 53,600. The stock has a market cap of $287.68 million and a price-to-earnings ratio of -0.12. The stock has a 50-day simple moving average of $13.71 and a 200-day simple moving average of $13.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.09 and a quick ratio of 9.80. Shoulder Innovations has a 12 month low of $10.92 and a 12 month high of $17.94.

Insider Activity at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 3,900 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were acquired at an average price of $14.89 per share, with a total value of $58,071.00. Following the acquisition, the chief executive officer directly owned 118,457 shares in the company, valued at approximately $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 9,200 shares of company stock worth $136,642 in the last three months.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in shares of Shoulder Innovations during the 4th quarter worth $1,316,000. Walleye Capital LLC grew its position in shares of Shoulder Innovations by 30.1% in the fourth quarter. Walleye Capital LLC now owns 93,434 shares of the company’s stock valued at $1,336,000 after purchasing an additional 21,619 shares during the last quarter. State Street Corp lifted its position in shares of Shoulder Innovations by 50.6% during the 4th quarter. State Street Corp now owns 58,422 shares of the company’s stock worth $835,000 after purchasing an additional 19,641 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Shoulder Innovations by 66.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,250 shares of the company’s stock worth $75,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Shoulder Innovations during the 4th quarter valued at approximately $234,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SI shares. Morgan Stanley boosted their price target on Shoulder Innovations from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. BTIG Research lifted their price objective on Shoulder Innovations from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research note on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $18.00 price target on shares of Shoulder Innovations in a research note on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Shoulder Innovations has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Shoulder Innovations Company Profile

Shoulder Innovations (NYSE:SI) is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.