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SI-BONE (SIBN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

SI-BONE
NasdaqGM•Healthcare•Medical Devices
$18.50-0.14(-0.01%)Market closed
Market Cap
$802.37M
P/S
3.8x
P/B
4.4x

SI-BONE, Inc., a medical device company, develops procedural solutions for compromised bone, grounded in expertise in biomechanical design and anatomy-specific applications in the United States and internationally. It offers a series of patented titanium implants and the instruments used to implant them, as well as implantable bone products. The company also provides IFUSE, a triangular titanium implant with a triangular cross-section and porous surface that stabilizes the joint and facilitates the biological fixation of the bone onto the implant to drive fusion; IFUSE 3D, a triangular titanium implant with a porous surface and fenestrated design to self-harvest bone; IFUSE BONE, which supports and augments the patient's own bone tissue in orthopedic procedures; IFUSE TORQ, an additively-manufactured threaded implant designed to allow for osteointegration, or incorporation of the bone into the implant's porous surface and structure; IFUSE BEDROCK GRANITE, an implant with a machined titanium core and a tulip that attaches to the rod and provides fusion and fixation to the sacroiliac joint as a foundational element for segmental spinal fusion; and IFUSE TORQ TNT, a porous threaded design with lengths capable of spanning the posterior pelvis, passing through the ipsilateral ilium, sacrum, and through the contralateral ilium. The company markets its products primarily with a direct sales force, as well as through third-party sales agents and resellers. SI-BONE, Inc. was incorporated in 2008 and is headquartered in Santa Clara, California.

D

How this company scores

WeakMetricSide Score: 54/100

Grade capped at D — Interest coverage below 1× (-7.4x) — earnings cannot cover interest. Strongest: Growth (18/25); weakest: Cash & Earnings Quality (5/25).

Profitability17/25
Growth18/25
Balance Sheet & Red Flags14/25
Cash & Earnings Quality5/25
Strengths
Growing revenueLong cash runwayLow leverageProfit converts from growth
Grade capped at D
  • Interest coverage below 1× (-7.4x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 3.8x5y range 2.6x – 8.5x
P/S 3.8x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 4.4x5y range 3.0x – 7.2x
P/B 4.4x · near its 20-quarter median

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume
Market Cap $802.37M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$213.60M
7Q
Q. Revenue
$56.01M
15%
TTM EBITDA
$-8.47M
7Q
TTM Op. Income
$-17.75M
7Q
Q. Op. Income
$-4.81M
31%
TTM Net Income
$-14.63M
7Q
Q. Net Income
$-4.09M
34%
EPS
$-0.09
36%
Shares Out.
$44.48M
7Q
$213.60M in TTM revenue grew 15.3% YoY, reaching $56.01M last quarter. TTM EBITDA of $-8.47M and TTM operating income of $-17.75M show growth is flowing through to the bottom line. However, net income is negative at $14.63M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
79.5%
0%
EBITDA Margin
-5.6%
52%
Op. Margin
-8.6%
40%
Net Margin
-7.3%
42%
Op. margin of -8.6% is up 5.8% YoY — cost efficiency is improving. Net margin at -7.3% and gross margin of 79.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 40% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
3.8x
14%
P/B Ratio
4.4x
7%
P/S of 3.8x and P/B of 4.4x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$248.76M
5Q
Cash
$33.13M
2Q
Long-Term Debt
$35.63M
6Q
Book Value
$182.35M
7Q
D/E Ratio
0.2
7Q
Debt/EBITDA
N/A
With $248.76M in assets and $35.63M in long-term debt, D/E is 0.2and book value is $182.35M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$777,000
349%
TTM Free Cash Flow
$-4.39M
7Q
FCF Margin
-2.1%
7Q
FCF / Net Income
0.3
5Q
TTM FCF of $-4.39M on $777,000 in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.

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Cash Burn

Red Flag

The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Share Dilution

Red Flag

Shares outstanding increased 6.6% — significant dilution, likely from stock compensation or capital raises.