The company develops technologies centered on spinopelvic anatomy, including applications in minimally invasive SI joint fusion, adult spinal deformity, spinopelvic and sacropelvic fixation, and pelvic trauma. SI-BONE reported a 17% year-over-year increase in active U.S. physicians to over 1,650, underscoring growing confidence in the clinical efficacy and benefits of its procedural solutions for compromised bone.
Cyborg Score Rationale
SI-BONE raised 2026 revenue guidance to $230–$233 million and increased expected full-year gross margin to about 79%, while maintaining a positive adjusted EBITDA outlook. In Q1 2026, the company posted worldwide revenue of $52.6 million, an 11.2% increase over the same period last year. Strong momentum from physician adoption and favorable reimbursement developments support durable growth.
Top Insights
The iFuse TORQ TNT implant received FDA Breakthrough Device Designation and is eligible for Medicare New Technology Add-on Payment (NTAP), providing hospitals with up to $4,136 in extra reimbursement per procedure.
Q1 2026 revenue reached $52.6 million (up 11.2% YoY) with guidance raised to $230–$233 million for full-year 2026, signaling strong execution and market traction.
Q4 2025 achieved positive adjusted EBITDA of $5.1 million (176.2% improvement YoY) with 79.0% gross margin, demonstrating path to profitability.
Expanded international presence with launch of iFuse TORQ TNT in Europe and iFuse TORQ in Australia in 2026.
Named Competitors
Spinal Fusion Solutions — Large diversified medtech with comprehensive spinal fusion and orthopedic portfolio
Orthopedic Implant Systems — Specialized spinal fusion and orthopedic device manufacturer
Orthofix Medical Inc. — Orthopedic trauma, spine, and regenerative solutions
Recent Developments
(June 2026) Scheduled participation in Truist Securities MedTech Conference
(May 2026) Q1 2026 results: $52.6M revenue (+11.2% YoY), raised full-year guidance to $230–$233M, 17% YoY physician growth to 1,650+ active surgeons
(May 2026) iFuse TORQ TNT launched in Europe; CMS proposed new MS-DRG family with higher payments for procedures incorporating iFuse Bedrock Granite
(February 2026) Q4 2025 results: $56.3M revenue (+15% YoY), positive adjusted EBITDA of $5.1M, 20% FY2025 worldwide growth to $200.8–$200.9M
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