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SHOULDER INNOVATIONS, INC. (SI) 10-Year Financial Performance & Capital Metrics

SI • • Industrial / General
HealthcareMedical SpecialtiesOrthopedic ImplantsShoulder Replacement Systems
AboutShoulder Innovations, Inc. manufactures medical devices. It has developed a shoulder replacement system. The company was founded by Stephen B. Gunther and Michael DeVries in 2009 and is headquartered in Grand Rapids, MI.Show more
  • Revenue $32M +64.1%
  • EBITDA -$12M -35.1%
  • Net Income -$16M -23.4%
  • EPS (Diluted) -0.77 -22.2%
  • Gross Margin 76.97% -2.8%
  • EBITDA Margin -39.39% +17.7%
  • Operating Margin -46.34% +17.8%
  • Net Margin -49.39% +24.8%
  • ROE -
  • ROIC -
  • Debt/Equity -
  • Interest Coverage -11.13 +22.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y-
TTM-

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-

EPS CAGR

10Y-
5Y-
3Y-
TTM-

ROCE

10Y Avg-28.01%
5Y Avg-28.01%
3Y Avg-28.01%
Latest-34.3%

Peer Comparison

Shoulder Replacement Systems
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SISHOULDER INNOVATIONS, INC.286.36M13.90-18.0564.07%-49.39%

Profit & Loss

Dec 2023Dec 2024
Sales/Revenue+19.27M31.62M
Revenue Growth %-0.64%
Cost of Goods Sold+4M7.28M
COGS % of Revenue0.21%0.23%
Gross Profit+15.27M24.34M
Gross Margin %0.79%0.77%
Gross Profit Growth %-0.59%
Operating Expenses+26.13M38.99M
OpEx % of Revenue1.36%1.23%
Selling, General & Admin23.11M34.51M
SG&A % of Revenue1.2%1.09%
Research & Development3.02M4.49M
R&D % of Revenue0.16%0.14%
Other Operating Expenses00
Operating Income+-10.86M-14.65M
Operating Margin %-0.56%-0.46%
Operating Income Growth %--0.35%
EBITDA+-9.22M-12.46M
EBITDA Margin %-0.48%-0.39%
EBITDA Growth %--0.35%
D&A (Non-Cash Add-back)1.64M2.2M
EBIT-11.89M-14.3M
Net Interest Income+-761K-1.32M
Interest Income00
Interest Expense761K1.32M
Other Income/Expense-1.79M-966K
Pretax Income+-12.65M-15.62M
Pretax Margin %-0.66%-0.49%
Income Tax+00
Effective Tax Rate %1%1%
Net Income+-12.65M-15.62M
Net Margin %-0.66%-0.49%
Net Income Growth %--0.23%
Net Income (Continuing)-12.65M-15.62M
Discontinued Operations00
Minority Interest00
EPS (Diluted)+-0.63-0.77
EPS Growth %--0.22%
EPS (Basic)-0.63-0.77
Diluted Shares Outstanding20.23M20.23M
Basic Shares Outstanding20.23M20.23M
Dividend Payout Ratio--

Balance Sheet

Dec 2023Dec 2024
Total Current Assets+47.85M35.13M
Cash & Short-Term Investments32.81M15.04M
Cash Only6.24M6.12M
Short-Term Investments26.58M8.92M
Accounts Receivable4.69M5.12M
Days Sales Outstanding88.8759.12
Inventory9.92M13.96M
Days Inventory Outstanding904.57699.47
Other Current Assets0573K
Total Non-Current Assets+6.45M7.96M
Property, Plant & Equipment5.75M7.55M
Fixed Asset Turnover3.35x4.19x
Goodwill00
Intangible Assets700K400K
Long-Term Investments00
Other Non-Current Assets00
Total Assets+54.29M43.08M
Asset Turnover0.35x0.73x
Asset Growth %--0.21%
Total Current Liabilities+4.28M7.65M
Accounts Payable1.96M4.86M
Days Payables Outstanding178.58243.6
Short-Term Debt43K47K
Deferred Revenue (Current)00
Other Current Liabilities185K507K
Current Ratio11.17x4.59x
Quick Ratio8.85x2.77x
Cash Conversion Cycle814.86514.99
Total Non-Current Liabilities+89.75M90.13M
Long-Term Debt14.35M14.66M
Capital Lease Obligations71K25K
Deferred Tax Liabilities00
Other Non-Current Liabilities75.33M75.44M
Total Liabilities94.03M97.78M
Total Debt+14.46M14.73M
Net Debt8.23M8.61M
Debt / Equity--
Debt / EBITDA--
Net Debt / EBITDA--
Interest Coverage-14.28x-11.13x
Total Equity+-39.74M-54.7M
Equity Growth %--0.38%
Book Value per Share-1.96-2.70
Total Shareholders' Equity34.74M19.78M
Common Stock1K1K
Retained Earnings-41.42M-57.04M
Treasury Stock00
Accumulated OCI356K197K
Minority Interest00

Cash Flow

Dec 2023Dec 2024
Cash from Operations+-13.14M-14.14M
Operating CF Margin %-0.68%-0.45%
Operating CF Growth %--0.08%
Net Income-12.65M-15.62M
Depreciation & Amortization1.64M2.2M
Stock-Based Compensation451K754K
Deferred Taxes00
Other Non-Cash Items2.18M-437K
Working Capital Changes-4.76M-1.04M
Change in Receivables-2.69M-575K
Change in Inventory-2.41M-4.03M
Change in Payables-737K3.12M
Cash from Investing+-28.97M13.96M
Capital Expenditures-2.75M-4.01M
CapEx % of Revenue0.14%0.13%
Acquisitions--
Investments--
Other Investing00
Cash from Financing+44.73M66K
Debt Issued (Net)--
Equity Issued (Net)--
Dividends Paid00
Share Repurchases--
Other Financing-149K0
Net Change in Cash--
Free Cash Flow+-15.89M-18.16M
FCF Margin %-0.82%-0.57%
FCF Growth %--0.14%
FCF per Share-0.79-0.90
FCF Conversion (FCF/Net Income)1.04x0.91x
Interest Paid901K1.78M
Taxes Paid00

Key Ratios

Metric20232024
Gross Margin79.23%76.97%
Net Margin-65.66%-49.39%
Interest Coverage-14.28x-11.13x
FCF Conversion1.04x0.91x
Revenue Growth-64.07%

Frequently Asked Questions

Growth & Financials

SHOULDER INNOVATIONS, INC. (SI) reported $31.6M in revenue for fiscal year 2024. This represents a 64% increase from $19.3M in 2023.

SHOULDER INNOVATIONS, INC. (SI) grew revenue by 64.1% over the past year. This is strong growth.

SHOULDER INNOVATIONS, INC. (SI) reported a net loss of $15.6M for fiscal year 2024.

Dividend & Returns

SHOULDER INNOVATIONS, INC. (SI) had negative free cash flow of $18.2M in fiscal year 2024, likely due to heavy capital investments.

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