The company has successfully improved its financial flexibility by reducing total debt from $39.0 million in 2023Q4 to $7.3 million in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 214.72M | 216.12M | 207.78M | 211.39M | 137.61M | 175.87M | 218.24M | 111.46M | 136.04M | 33.63M | 36.32M | 29.9M | 26M | 16.47M |
| Cash & Short-Term Investments | 144.68M | 147.82M | 150.04M | 166.02M | 97.29M | 146.98M | 196.43M | 91.78M | 122.22M | 22.41M | 27.9M | 20.27M | 17.6M | 8.52M |
| Cash Only | 33.53M | 42.24M | 34.95M | 33.27M | 20.72M | 63.42M | 53.58M | 10.44M | 25.12M | 22.41M | 27.9M | 20.27M | 17.6M | 8.52M |
| Short-Term Investments | 111.15M | 105.58M | 115.09M | 132.75M | 76.57M | 83.56M | 142.85M | 81.34M | 97.1M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 30.96M | 29.91M | 27.46M | 21.95M | 20.67M | 14.25M | 13.61M | 11.72M | 8.49M | 7.42M | 5.95M | 5.77M | 5.88M | 6.04M |
| Days Sales Outstanding | 49.46 | 54.34 | 59.95 | 57.69 | 70.92 | 57.68 | 67.7 | 63.56 | 55.93 | 56.41 | 51.59 | 51.14 | 53.56 | 44.97 |
| Inventory | 35.53M | 33.9M | 27.07M | 20.25M | 17.28M | 11.5M | 5.63M | 5.45M | 3.34M | 2.55M | 1.51M | 2.7M | 1.69M | 1.26M |
| Days Inventory Outstanding | 302.18 | 301.42 | 281.88 | 250.83 | 401.65 | 402.45 | 230.96 | 293.08 | 252.47 | 182.29 | 106.99 | 182.57 | 94.62 | 106.08 |
| Other Current Assets | 3.54M | 4.48M | 3.2M | 3.17M | 2.37M | 0 | 0 | 0 | 1.99M | 0 | 0 | 1.16M | 837K | 655K |
| Total Non-Current Assets | 28M | 22.44M | 22.66M | 19.03M | 19.94M | 14.64M | 4.9M | 5.55M | 2.48M | 2.21M | 3.11M | 6.16M | 2.99M | 1.54M |
| Property, Plant & Equipment | 27.78M | 22.39M | 22.36M | 18.71M | 19.57M | 14.24M | 4.53M | 3.95M | 2.15M | 1.9M | 2.61M | 3.53M | 2.61M | 1.2M |
| Fixed Asset Turnover | 8.55x | 8.98x | 7.48x | 7.42x | 5.44x | 6.33x | 16.21x | 17.02x | 25.71x | 25.31x | 16.14x | 11.65x | 15.36x | 40.83x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.42M | 47K | 55K | 62K | 70K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.28M | 0 | 0 | 521K | 634K | 0 | 0 |
| Other Non-Current Assets | 217K | 55K | 300K | 325K | 375K | 400K | 374K | 315K | 325K | 269K | 457K | 1.93M | 319K | 274K |
| Total Assets | 242.72M | 238.56M | 230.44M | 230.43M | 157.55M | 190.51M | 223.14M | 117.01M | 138.52M | 35.83M | 39.44M | 36.05M | 28.98M | 18.01M |
| Asset Turnover | 0.87x | 0.84x | 0.73x | 0.60x | 0.68x | 0.47x | 0.33x | 0.58x | 0.40x | 1.34x | 1.07x | 1.14x | 1.38x | 2.72x |
| Asset Growth % | 16.68% | 3.52% | 0.01% | 46.25% | -17.3% | -14.63% | 90.7% | -15.53% | 286.56% | -9.13% | 9.38% | 24.39% | 60.9% | - |
| Total Current Liabilities | 21.49M | 25.28M | 27.13M | 23.46M | 21.18M | 16.89M | 13.47M | 18.77M | 9.01M | 7.54M | 13.39M | 6.81M | 6.94M | 10.21M |
| Accounts Payable | 6.76M | 4.63M | 6.49M | 4.59M | 6.28M | 3.2M | 3.27M | 2.81M | 2.15M | 1.81M | 1.02M | 2.49M | 2.6M | 3.73M |
| Days Payables Outstanding | 57.68 | 41.18 | 67.55 | 56.83 | 145.93 | 111.94 | 134.12 | 151.11 | 162.07 | 129.52 | 72.43 | 168.64 | 146.28 | 314.61 |
| Short-Term Debt | 658K | 944K | 0 | 0 | 0 | 0 | 0 | 4.36M | 0 | 0 | 8.24M | 0 | 0 | 2.22M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.91M | 0 | 0 | 0 |
| Other Current Liabilities | 14.07M | 19.7M | 14.85M | 15.16M | 12.34M | 11.36M | 9.69M | 8.01M | 5.56M | 1.53M | 3.06M | 4.32M | 4.34M | 4.25M |
| Current Ratio | 9.99x | 8.55x | 7.66x | 9.01x | 6.50x | 10.41x | 16.20x | 5.94x | 15.11x | 4.46x | 2.71x | 4.39x | 3.74x | 1.61x |
| Quick Ratio | 8.34x | 7.21x | 6.66x | 8.15x | 5.68x | 9.73x | 15.78x | 5.65x | 14.73x | 4.12x | 2.60x | 3.99x | 3.50x | 1.49x |
| Cash Conversion Cycle | 293.96 | 314.58 | 274.28 | 251.69 | 326.64 | 348.19 | 164.54 | 205.53 | 146.33 | 109.18 | 86.15 | 65.07 | 1.89 | -163.56 |
| Total Non-Current Liabilities | 42.29M | 35.74M | 36.34M | 37.59M | 38.07M | 39.2M | 40.31M | 35.23M | 39.32M | 157.67M | 134.78M | 26.01M | 15.15M | 9.46M |
| Long-Term Debt | 6.69M | 175K | 35.45M | 36.06M | 35.17M | 34.97M | 39.45M | 34.87M | 38.96M | 38.7M | 21.07M | 25.06M | 15.15M | 9.46M |
| Capital Lease Obligations | 483K | 0 | 879K | 1.51M | 2.87M | 4.17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 35.6M | 35.57M | 10K | 18K | 30K | 57K | 854K | 362K | 360K | 118.97M | 113.71M | 957K | -15.15M | -9.46M |
| Total Liabilities | 63.78M | 61.02M | 63.47M | 61.05M | 59.25M | 56.09M | 53.78M | 54M | 48.33M | 165.21M | 148.17M | 32.82M | 22.09M | 19.67M |
| Total Debt | 7.35M | 1.12M | 37.48M | 38.99M | 39.43M | 40.48M | 39.45M | 39.22M | 38.96M | 38.7M | 29.31M | 25.06M | 15.15M | 11.68M |
| Net Debt | -26.19M | -41.12M | 2.54M | 5.72M | 18.71M | -22.94M | -14.13M | 28.79M | 13.84M | 16.3M | 1.41M | 4.78M | -2.45M | 3.17M |
| Debt / Equity | 0.04x | 0.01x | 0.22x | 0.23x | 0.40x | 0.30x | 0.23x | 0.62x | 0.43x | - | - | 7.75x | 2.20x | - |
| Debt / EBITDA | -0.62x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.22x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -6.06x | -2.58x | -7.99x | -11.52x | -20.73x | -9.89x | -6.16x | -6.76x | -2.42x | -2.71x | -5.22x | - | - | - |
| Total Equity | 178.94M | 177.53M | 166.96M | 169.38M | 98.3M | 134.42M | 169.36M | 63.01M | 90.19M | -129.38M | -108.73M | 3.23M | 6.89M | -1.65M |
| Equity Growth % | 21.05% | 6.33% | -1.42% | 72.3% | -26.87% | -20.63% | 168.8% | -30.14% | 169.71% | -18.99% | -3463.22% | -53.09% | 516.94% | - |
| Book Value per Share | 4.07 | 4.08 | 4.03 | 4.41 | 2.87 | 4.06 | 5.83 | 2.55 | 5.67 | -9.33 | -7.02 | 0.13 | 2.58 | -0.72 |
| Total Shareholders' Equity | 178.94M | 177.53M | 166.96M | 169.38M | 98.3M | 134.42M | 169.36M | 63.01M | 90.19M | -129.38M | -108.73M | 3.23M | 6.89M | -1.65M |
| Common Stock | 4K | 626.97M | 4K | 4K | 3K | 3K | 3K | 3K | 3K | 1K | 1K | 7K | 5K | 4K |
| Retained Earnings | -454.59M | -450.26M | -431.35M | -400.44M | -357.11M | -295.85M | -239.28M | -195.58M | -157.18M | -139.72M | -116.69M | -96.1M | -67.94M | -40.14M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9.94M | -8.01M | 0 | 0 | 0 |
| Accumulated OCI | 501K | 816K | 244K | 335K | 232K | 352K | 524K | 464K | 439K | 402K | 472K | 405K | -498K | -249K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent Operating Cash Burn
According to historical balance sheet data, SIBN has maintained a relatively stable equity base of approximately $178.9 million as of 2026Q1, despite accumulating losses that have pushed retained earnings to negative $454.6 million, signaling a reliance on external capital to sustain its ongoing operational expansion.
The company's ability to preserve its equity position despite persistent net losses suggests that previous capital raises have provided a sufficient buffer to fund operations. However, the widening deficit in retained earnings warrants close monitoring, as it indicates that the business model has not yet reached the scale required to generate self-sustaining internal growth.
As reported in recent financial statements, SIBN has aggressively reduced its total debt from $39.0 million in 2023Q4 to just $7.3 million by 2026Q1, reflecting a deliberate shift toward a cleaner balance sheet that minimizes interest expense during this critical phase of market penetration.
This rapid deleveraging appears to be a strategic move to reduce financial risk while the company continues to navigate its path toward profitability. By minimizing debt obligations, management has effectively lowered the company's break-even threshold, which may provide greater flexibility to weather potential volatility in elective procedure volumes.
Based on the most recent quarterly filings, SIBN maintains a current ratio of 9.99, which provides a substantial liquidity cushion that appears more than adequate to cover short-term liabilities and support the company's ongoing investment in its specialized sales force and clinical education infrastructure.
The exceptionally high current ratio suggests that the company is well-positioned to manage its working capital requirements without immediate liquidity concerns. Investors should note that while this liquidity is a strength, it also reflects a significant amount of capital tied up in current assets, which may require more efficient management as the company matures.
Analysis of the balance sheet reveals that PPE and other assets are growing, yet the lack of detailed inventory disclosures in the provided data suggests that the company's reliance on a consignment-heavy model may hide potential obsolescence risks as newer product generations like iFuse-TORQ gain traction.
The transition to newer product platforms often necessitates the write-down of older inventory held at hospitals, which could create unexpected charges against future earnings. Analysts should remain cautious regarding the quality of these assets, as the true value of consignment inventory is often subject to management's judgment regarding product lifecycle and demand.
Quick answers to the most common questions about buying SIBN stock.
As of 2025, SI-BONE, Inc. (SIBN) had total assets of $238.6M including $216.1M in current assets.
SI-BONE, Inc. (SIBN) carries total debt of $1.1M, offset by $147.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SI-BONE, Inc. (SIBN) has total shareholders' equity (book value) of $177.5M ($4.08 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SI-BONE, Inc. (SIBN) reported a current ratio of 8.55x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.