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

Shoulder Innovations (NYSE:SI) announced its earnings results on Tuesday. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.04, Zacks reports. Shoulder Innovations had a negative return on equity of 75.89% and a negative net margin of 85.29%.The firm had revenue of $14.42 million for the quarter, compared to the consensus estimate 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 Up 8.1%

Shoulder Innovations stock opened at $14.11 on Thursday. The business’s 50-day simple moving average is $13.71 and its two-hundred day simple moving average is $13.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09. The company has a market cap of $290.56 million and a PE ratio of -0.06. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Robert Joseph Ball acquired 3,900 shares of Shoulder Innovations stock in a transaction dated Friday, December 12th. The stock was purchased at an average cost of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares in the company, valued at $1,763,824.73. This trade represents a 3.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shoulder Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new position in Shoulder Innovations during the 3rd quarter worth approximately $5,667,000. Vanguard Group Inc. purchased a new stake in shares of Shoulder Innovations in the 3rd quarter valued at $1,836,000. Geode Capital Management LLC increased its stake in shares of Shoulder Innovations by 17.3% in the fourth quarter. Geode Capital Management LLC now owns 110,303 shares of the company’s stock worth $1,578,000 after acquiring an additional 16,258 shares during the period. Walleye Capital LLC raised its holdings in shares of Shoulder Innovations by 30.1% during the fourth quarter. Walleye Capital LLC now owns 93,434 shares of the company’s stock worth $1,336,000 after purchasing an additional 21,619 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Shoulder Innovations during the fourth quarter valued at $1,316,000.

About Shoulder Innovations

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.