Shoulder Innovations, Inc. (SI)
| Market Cap | 306.93M |
| Revenue (ttm) | 53.89M +55.9% |
| Net Income | -44.08M |
| EPS | -3.19 |
| Shares Out | 20.74M |
| PE Ratio | n/a |
| Forward PE | n/a |
| Dividend | n/a |
| Ex-Dividend Date | n/a |
| Volume | 2,920 |
| Open | 14.93 |
| Previous Close | 14.88 |
| Day's Range | 14.73 - 14.93 |
| 52-Week Range | 10.92 - 17.94 |
| Beta | n/a |
| Analysts | Strong Buy |
| Price Target | 21.25 (+43.58%) |
| Earnings Date | May 13, 2026 |
About SI
Shoulder Innovations, Inc. designs, develops, manufactures, and distributes implant systems for shoulder arthroplasty in the United States. It designs InSet Glenoid technology that aims to reduce mechanical stress at the bone implant interface, improve fixation mechanics, enhance stability, and reduce micromotion. The company was incorporated in 2009 and is headquartered in Grand Rapids, Michigan.
Financial Performance
In 2025, Shoulder Innovations's revenue was $47.32 million, an increase of 49.63% compared to the previous year's $31.62 million. Losses were -$40.36 million, 158.4% more than in 2024.
Financial StatementsAnalyst Summary
According to 4 analysts, the average rating for SI stock is "Strong Buy." The 12-month stock price target is $21.25, which is an increase of 43.58% from the latest price.
News
Shoulder Innovations raises FY26 revenue view to $65M-$68M from $62M-$65M
FY26 consensus $64.11M.
Shoulder Innovations Earnings Call Transcript: Q1 2026
Q1 2026 saw 65% revenue growth and gross margin expansion to 77.7%, driven by strong surgeon adoption and new product launches. Full-year revenue guidance was raised to $65–$68 million, with continued investment in innovation and commercial scale.
Shoulder Innovations Earnings release: Q1 2026
Shoulder Innovations released its Q1 2026 earnings on May 13, 2026, summarizing the period's financial results.
Shoulder Innovations Quarterly report: Q1 2026
Shoulder Innovations has published its Q1 2026 quarterly earnings report on May 13, 2026.
Shoulder Innovations reports Q1 EPS (41c), consensus (43c)
Reports Q1 revenue $16.71M, consensus $14.53M. “We are very pleased with our first quarter performance, which reflects accelerating revenue growth and intensifying commercial momentum across our entir...
Shoulder Innovations price target raised to $19 from $18 at Piper Sandler
Piper Sandler analyst Matt O’Brien raised the firm’s price target on Shoulder Innovations (SI) to $19 from $18 and keeps an Overweight rating on the shares. Over the next year,…
Shoulder Innovations Proxy statement: Proxy filing
Shoulder Innovations filed a proxy statement on April 29, 2026, providing details for shareholder voting and corporate governance matters.
Shoulder Innovations Proxy statement: Proxy filing
Shoulder Innovations filed a proxy statement on April 29, 2026, providing details for shareholder voting and corporate governance matters.
Shoulder Innovations price target raised to $24 from $23 at BTIG
BTIG raised the firm’s price target on Shoulder Innovations (SI) to $24 from $23 and keeps a Buy rating on the shares. The firm continues to view 2026 as a…
Shoulder Innovations Slides: Investor presentation
Shoulder Innovations has posted slides in relation to its latest quarterly earnings report, which was published on March 10, 2026.
Shoulder Innovations Earnings Call Transcript: Q4 2025
Delivered 65% Q4 and 50% full-year revenue growth in 2025, driven by rapid surgeon adoption, new product launches, and strong ASC penetration. 2026 guidance targets 31–37% revenue growth, with stable margins and continued investment in innovation and commercial expansion.
Shoulder Innovations Annual report: Q4 2025
Shoulder Innovations has published its Q4 2025 annual report on March 10, 2026.
Shoulder Innovations Earnings release: Q4 2025
Shoulder Innovations released its Q4 2025 earnings on March 10, 2026, summarizing the period's financial results.
Shoulder Innovations reports Q4 EPS (38c), consensus (38c)
Reports Q4 revenue $14.4M, consensus $12.79M. “2025 was a transformational year for Shoulder Innovations (SI). We continued to add new surgeon customers at an accelerated pace, drove rapid commercial ...
Shoulder Innovations sees FY26 revenue $62M-$65M, consensus $58.77M
FY26 revenue view represents a growth of 31%-37% vs. FY25. Rob Ball, CEO of Shoulder Innovations (SI) said, “Looking into 2026, our momentum remains strong. Our key strategic priorities are…
Shoulder Innovations Transcript: 2026 CG Musculoskeletal Conference
Shoulder arthroplasty is experiencing rapid growth, driven by innovative implants, AI-enabled planning, and a shift to outpatient procedures. New product launches and a robotics-as-a-service model are set to further differentiate offerings and support expansion beyond the U.S.
Shoulder Innovations price target raised to $20 from $19 at Goldman Sachs
Goldman Sachs raised the firm’s price target on Shoulder Innovations (SI) to $20 from $19 and keeps a Buy rating on the shares. After a year when fundamentals diverged from…
Shoulder Innovations Slides: Investor presentation
Shoulder Innovations has posted slides in relation to its latest quarterly earnings report, which was published on December 16, 2025.
Shoulder Innovations Transcript: Piper Sandler 37th Annual Healthcare Conference
Leadership leverages decades of experience to drive innovation in shoulder arthroplasty, with strong growth among high-volume surgeons and a focus on portable, ASC-friendly robotics. Financial outlook remains positive, with robust margins and plans to expand indications in 2026.
Shoulder Innovations partners with INS for robotic surgical platform
Shoulder Innovations (SI) announced a strategic partnership with Interventional Systems, a developer of robotic solutions for minimally invasive surgery, to introduce a transformative shoulder-specifi...
Shoulder Innovations price target raised to $23 from $18 at Morgan Stanley
Morgan Stanley raised the firm’s price target on Shoulder Innovations (SI) to $23 from $18 and keeps an Overweight rating on the shares. Going into 2026, MedTech “looks well-positioned on…
Shoulder Innovations Transcript: Jefferies London Healthcare Conference 2025
Operating in a $2.8B global market, the company leverages innovative implant and AI planning technologies to address key clinical challenges and ASC logistics. Recent regulatory wins and new product launches are set to expand market reach and improve margins.
Shoulder Innovations Earnings Call Transcript: Q3 2025
Q3 revenue rose 58% year-over-year to $11.8M, with gross margin at 76.2% and strong cash reserves of $137M. Full-year guidance was raised to $45–$46M, reflecting robust adoption, new product launches, and continued expansion in high-volume surgeon users.
Shoulder Innovations Quarterly report: Q3 2025
Shoulder Innovations has published its Q3 2025 quarterly earnings report on November 11, 2025.
Shoulder Innovations Earnings release: Q3 2025
Shoulder Innovations released its Q3 2025 earnings on November 11, 2025, summarizing the period's financial results.