SI-BONE, Inc., a medical device company, focuses on solving musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. The company offers proprietary minimally invasive surgical implant systems to address sacroiliac joint dysfunction and degeneration, adult deformity and degeneration, and pelvic trauma, as well as implantable bone products. It also provides iFuse-3D, a titanium implant that combines the triangular cross-section of the iFuse implant with a proprietary 3D-printed porous surface and fenestrated design; iFuse TORQ, a line of 3D-printed threaded implants designed for applications in pelvic trauma and sacroliliac fusion; and iFuse Bedrock Granite Implant System that provides sacroiliac fusion and sacropelvic fixation as a foundational element for segmental spinal fusion; and iFuse TORQ TNT to treat pelvic trauma and sacroiliac joint dysfunction, as well as iFuse INTRA implants that are marketed as human cells, tissues, and cellular or tissue-based products. The company markets its products primarily with a direct sales force, as well as through third-party sales agent and resellers. SI-BONE, Inc. was incorporated in 2008 and is headquartered in Santa Clara, California.
Surgical Innovation | SI-BONE's iFuse Implant System drives 22.6% YoY growth, establishing the company as a pioneer in minimally invasive sacroiliac joint surgery |
Financial Health | Strong Q1 2025 performance with $47.3M in sales, 25% YoY increase. Healthy 79.25% gross margin and solid cash position, despite current overvaluation |
Growth Trajectory | Analysts project 15-20%+ annual revenue growth. New product launches and FDA Breakthrough Device Designations poised to expand addressable market |
Market Dynamics | Average analyst price target of $28.50. NTAP reimbursement of $3,960 for iFuse TORQ TNT expected in Q4 2025, potentially catalyzing adoption |
Metrics to compare | SIBN | Sector Sector - Average of metrics from a broad group of related Healthcare sector companies | Relationship RelationshipSIBNPeersSector | |
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P/E Ratio | −29.9x | −3.7x | −0.6x | |
PEG Ratio | −0.68 | −0.20 | 0.00 | |
Price/Book | 4.2x | 3.1x | 2.6x | |
Price / LTM Sales | 3.8x | 3.6x | 3.3x | |
Upside (Analyst Target) | 52.3% | 54.9% | 39.0% | |
Fair Value Upside | Unlock | 8.5% | 4.9% | Unlock |