Shoulder Innovations, Inc. (SI) Revenue History
Annual and quarterly revenue from 2023 to present
SI Revenue Over Time (2023–2025)
SI Revenue Growth History
2 of 2 years with positive growth- FY2023 revenue growth
- N/A
- FY2024 revenue growth
- +64.1%
- FY2025 revenue growth
- +49.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $16.7M | +64.9% |
| Q4 2025 | $14.4M | — |
| Q3 2025 | $11.8M | — |
| Q2 2025 | $11.0M | — |
| Q1 2025 | $10.1M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
SI Revenue Analysis (2023–2025)
Current Revenue & Growth
As of June 23, 2026, Shoulder Innovations, Inc. (SI) generated trailing twelve-month (TTM) revenue of $53.9 million, reflecting explosive growth of +64.9% year-over-year. The most recent quarter (Q1 2026) recorded $16.7 million in revenue, up 15.9% sequentially.
Historical Growth Trajectory
SI's historical revenue data shows various trends over time. Shoulder Innovations, Inc.'s highest annual revenue of $47.3 million was recorded in 2025, an all-time high.
Revenue by Segment
SI's revenue is primarily driven by Reportable Segment (100%). With over half of revenue concentrated in Reportable Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including GMED (+23.5% YoY), ATEC (-7.4% YoY), and XTNT (-0.3% YoY) — SI has outperformed the peer group in revenue growth. Compare SI vs GMED →
SI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SICurrent | $54M | +64.9% | - | -55.6% | |
 GMED | $2.9B | +23.5% | +30.1% | 16.3% | |
 ATEC | $764M | -7.4% | +39.5% | -10.7% | |
 XTNT | $134M | -0.3% | +20.2% | 5.4% | |
 NVCR | $655M | +8.5% | +5.8% | -23.5% | |
 ZBH | $8.2B | +9.2% | +6.1% | 16.5% |
SI Historical Revenue Data (2023–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $47.3M | +49.6% | $36.2M | 76.5% | $-26,297,000 | -55.6% |
| 2024 | $31.6M | +64.1% | $24.3M | 77.0% | $-14,653,000 | -46.3% |
| 2023 | $19.3M | - | $15.3M | 79.2% | $-10,864,000 | -56.4% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
3+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SI — Frequently Asked Questions
Quick answers to the most common questions about buying SI stock.
Is SI's revenue growth accelerating or slowing?
SI revenue growth is accelerating. TTM revenue reached $54M, up +64.9% year-over-year — ahead of the 5-year CAGR of N/A. This indicates the business is expanding faster than its historical baseline.
What is SI's revenue history from 2023 to 2026?
Shoulder Innovations, Inc. (SI) revenue history spans 2023 to 2026. TTM revenue as of 2026 is $54M, growing at +64.9% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SI's long-term revenue growth rate (CAGR)?
Shoulder Innovations, Inc.'s 5-year revenue CAGR of N/A reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +64.9% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SI.
Why does SI's quarterly revenue fluctuate?
SI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Shoulder Innovations, Inc.'s revenue data from 2023 to 2026 shows full historical quarterly detail on this page.
How is SI's revenue distributed by segment?
SI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SI's revenue compare to industry peers?
Shoulder Innovations, Inc. (SI) with TTM revenue of $54M and +64.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.