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Shoulder Innovations, Inc. (SI)

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Shoulder Innovations, Inc. is a commercial-stage medical technology company focused on products for shoulder replacement surgery. The company develops and sells implant systems and related tools used by orthopedic surgeons in shoulder arthroplasty, a procedure performed to treat conditions such as severe arthritis, traumatic injury, rotator cuff-related degeneration, and failed prior shoulder procedures.

The company’s portfolio is built around its InSet shoulder arthroplasty platform. Its products include the InSet Total Shoulder Arthroplasty system, designed for anatomic shoulder replacement, and the InSet Reverse Shoulder Arthroplasty system, used in reverse shoulder replacement procedures where joint mechanics are altered to improve function in patients with more complex shoulder pathology. Shoulder Innovations also offers the InSet Tray System to support surgical workflow and instrument organization.

In addition to implants and instruments, the company provides ProVoyance Shoulder Planning Software. Surgical planning tools are increasingly important in orthopedics because they can help physicians evaluate patient anatomy, select implants, and plan positioning before entering the operating room. For shoulder replacement, where bone shape, glenoid wear, and soft-tissue balance can vary significantly from patient to patient, planning software can be an important part of improving consistency.

Shoulder Innovations currently operates primarily in the United States and is positioned within a specialized segment of the orthopedic implant market. Unlike diversified medical device companies that sell across multiple surgical categories, Shoulder Innovations concentrates on the shoulder. This focus allows the company to align product development, surgeon education, and commercial execution around a single area of care as it seeks broader adoption of its implant systems and potential expansion beyond its existing market.

23.72 USD
+2.76 (+13.17%)

Last updated

Market Cap
$434,673,217
P/E
P/FCF
P/S
8.07
Enterprise Value
$438,142,217
Sector
Health Care
Industry
Health Care Equipment
Address
1535 STEELE AVENUE SW, SUITE B, GRAND RAPIDS, MI, 49507
Market Cap
$434,673,217
Enterprise Value
$438,142,217
P/E
P/B
3.27
P/S
8.07
EV / EBITDA
-15.63
EV / Sales
8.13
EPS
-2.13
Dividend Yield
0%
P/FCF
P/CF
Free Cash Flow
-$44,848,000
ROE
-33.14%
ROA
-27.49%
Debt / Equity
0.11
Current Ratio
11.81
Quick Ratio
10.04
Cash
0.93
Avg Volume
$132,037
Fundamentals Snapshot Price
20.96

Income Statement

Line Item 2026 Q1 2025 Q4 2025 Q3
Revenue 16.71M 14.42M 11.76M
Cost of revenue 3.72M 3.36M 2.8M
Gross profit 12.99M 11.06M 8.96M
Operating income -8.98M -8.5M -7.64M
EBITDA -7.84M -7.52M -6.8M
Net income -8.38M -7.77M -8.73M
Interest expense 436K 591K -78K
Other operating expenses 0 0 0
Total operating expenses 21.96M 19.56M 16.6M
Basic EPS -0.41 2.35 -0.64
Diluted EPS -0.41 2.35 -0.64

Balance Sheet

Line Item 2026 Q1 2025 Q4 2025 Q3
Total assets 160.36M 169.91M 177.76M
Total liabilities 27.34M 29.16M 29.93M
Total equity 133.02M 140.75M 147.83M
Cash & equivalents 11.49M 26.87M 54.93M
Current assets 145.78M 157.17M 166.61M
Current liabilities 12.34M 14.2M 15.02M
Accounts payable 5.92M 8.87M 8.88M
Receivables 10.55M 8.27M 7.08M
Inventories 21.83M 21.59M 19.36M
Long-term debt 14.96M 14.91M 14.85M

Cash Flow

Line Item 2026 Q1 2025 Q4 2025 Q3
Operating cash flow -12.36M -8.78M -8.56M
Investing cash flow -3.12M -17.28M -72.44M
Financing cash flow 101K -2M 108.87M
Change in cash -15.38M -28.06M 27.88M
Net income -8.38M -7.77M -8.73M
Kind Filing Date Link
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 8-K — SHOULDER INNOVATIONS, INC. View Filing
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edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
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form 4 Form 4 — Hykes Andrew View Filing
form 4 Form 4 — Sidow Kevin K. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
form 4 Form 4 — Ahearn Matthew Fraser View Filing
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edgar index ARS — SHOULDER INNOVATIONS, INC. View Filing
edgar index 8-K — SHOULDER INNOVATIONS, INC. View Filing
eight k text 8-K — 8-K View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
form 4 Form 4 — Ahearn Matthew Fraser View Filing
form 4 Form 4 — Ahearn Matthew Fraser View Filing
form 4 Form 4 — Ahearn Matthew Fraser View Filing
form 4 Form 4 — Ahearn Matthew Fraser View Filing
edgar index 8-K — SHOULDER INNOVATIONS, INC. View Filing
eight k text 8-K — 8-K View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
form 4 Form 4 — BUCKMAN PAUL View Filing
form 4 Form 4 — BUCKMAN PAUL View Filing
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form 4 Form 4 — Points Jeffrey S. View Filing
form 4 Form 4 — Points Jeffrey S. View Filing
form 4 Form 4 — Points Jeffrey S. View Filing
form 4 Form 4 — Points Jeffrey S. View Filing
form 4 Form 4 — Buchholz Richard View Filing
form 4 Form 4 — Ball Robert Joseph View Filing
edgar index 8-K — SHOULDER INNOVATIONS, INC. View Filing
edgar index 10-K — SHOULDER INNOVATIONS, INC. View Filing
edgar index S-8 — SHOULDER INNOVATIONS, INC. View Filing
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edgar index 3 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 8-K — SHOULDER INNOVATIONS, INC. View Filing
eight k text 8-K — 8-K View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
form 4 Form 4 — Ball Robert Joseph View Filing
form 4 Form 4 — Ball Robert Joseph View Filing
form 4 Form 4 — Ball Robert Joseph View Filing
form 4 Form 4 — Ball Robert Joseph View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
edgar index 4 — SHOULDER INNOVATIONS, INC. View Filing
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