Shoulder Innovations Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	64.49	47.32	31.62	19.27
Revenue Growth	54.93%	49.63%	64.07%	-
Cost of Revenue	14.3	11.12	7.28	4
Gross Profit	50.19	36.2	24.34	15.27
Selling, General & Admin	71.77	54.77	34.51	23.11
Research & Development	13.53	7.73	4.49	3.02
Operating Expenses	85.3	62.5	38.99	26.13
Operating Income	-35.11	-26.3	-14.65	-10.86
Interest Expense	-	-0.07	-1.32	-0.76
Other Non Operating Income (Expenses)	-0.33	-12.18	-0.13	0.1
EBT Excluding Unusual Items	-33.17	-38.55	-16.1	-11.53
Gain (Loss) on Sale of Investments	0.4	0.4	0.48	-
Other Unusual Items	-0.59	-2.22	-	-1.13
Pretax Income	-33.35	-40.36	-15.62	-12.66
Net Income	-33.35	-40.36	-15.62	-12.66
Net Income to Common	-33.35	-40.36	-15.62	-12.66
Net Income Growth	-	-	-	-
Shares Outstanding (Basic)	21	9	0	0
Shares Outstanding (Diluted)	21	9	0	0
Shares Change	490.85%	13340.49%	12.51%	-
EPS (Basic)	-1.61	-4.65	-242.04	-220.65
EPS (Diluted)	-1.61	-4.65	-242.04	-220.65
EPS Growth	-	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	-42.69	-36.02	-18.16	-15.89
Free Cash Flow Per Share	-2.06	-4.15	-281.39	-277.09
Gross Margin	77.82%	76.51%	76.97%	79.23%
Operating Margin	-54.44%	-55.58%	-46.34%	-56.37%
Profit Margin	-51.72%	-85.30%	-49.39%	-65.66%
Free Cash Flow Margin	-66.19%	-76.13%	-57.42%	-82.45%
EBITDA	-30.92	-23.39	-12.76	-9.52
EBITDA Margin	-47.95%	-49.43%	-40.34%	-49.41%
D&A For EBITDA	4.19	2.91	1.9	1.34
EBIT	-35.11	-26.3	-14.65	-10.86
EBIT Margin	-54.44%	-55.58%	-46.34%	-56.37%
Advertising Expenses	-	1.18	0.87	0.59

SEC Filings: 10-K · 10-Q