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Shoulder Innovations, Inc. logo

Shoulder Innovations, Inc.

SI

NYSEHealthcareMedical - Specialties

Open in GoAI

Previous close

$22.06

−$0.04 · -0.18%

Aug 21, 4:00 PM ET

SI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

70

Undervalued

Momentum

68

Gaining

Sentiment

47

Mixed

Risk resilience

56

Elevated Risk

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Company profile

Company website

Shoulder 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.

Industry
Medical - Specialties
Sector
Healthcare
Headquarters
US
CEO
Robert Joseph Ball
Listed since
Jul 31, 2025
Employees
74

Market position

Day range

Current $22.06

52-week range

Current $22.06

Open
$22.09
Previous close
$22.10
Volume
85.97K
0.78× average
Average volume
110.53K
Average daily volume
Market cap
457.49M USD
Beta
-1.7
Market reference 1
50-day average
$20.9222
+5.44% above average
200-day average
$15.8469
+39.21% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
283.13M USD
P/E (TTM)
-12.9×
P/B (TTM)
3.68×
P/S (TTM)
7.62×
EV / EBITDA
-7.64×
Earnings yield
-13.68%
Free cash flow yield
-12.21%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
77.34%
Operating margin
-58.53%
Net margin
-58.33%
Return on equity
-26.05%
Return on assets
-23.75%
Return on invested capital
-14.80%

Financial health

Debt / equity
0.12×
Current ratio
-20.22×
Altman Z-score
9.45
Piotroski F-score
2 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends96%30%-36%-102%Gross margin, FY2023: 79.23%Gross margin, FY2024: 76.97%Gross margin, FY2025: 76.51%Operating margin, FY2023: -56.37%Operating margin, FY2024: -46.34%Operating margin, FY2025: -55.58%Net margin, FY2023: -65.66%Net margin, FY2024: -49.39%Net margin, FY2025: -85.29%FY2023FY2024FY2025
Gross margin FY2023 79.23%. Gross margin FY2024 76.97%. Gross margin FY2025 76.51%. Operating margin FY2023 -56.37%. Operating margin FY2024 -46.34%. Operating margin FY2025 -55.58%. Net margin FY2023 -65.66%. Net margin FY2024 -49.39%. Net margin FY2025 -85.29%.

Income trends

Revenue

47.32M USD+49.63%

Operating income

−26.3M USD-79.46%

Net income

−40.36M USD-158.40%
Income trends across reported periods56.08M USD21.01M USD−14.06M USD−49.13M USDRevenue, FY2023: 19.27M USDRevenue, FY2024: 31.62M USDRevenue, FY2025: 47.32M USDOperating income, FY2023: −10.86M USDOperating income, FY2024: −14.65M USDOperating income, FY2025: −26.3M USDNet income, FY2023: −12.66M USDNet income, FY2024: −15.62M USDNet income, FY2025: −40.36M USDFY2023FY2024FY2025
Revenue FY2023 19.27M USD. Revenue FY2024 31.62M USD. Revenue FY2025 47.32M USD. Operating income FY2023 −10.86M USD. Operating income FY2024 −14.65M USD. Operating income FY2025 −26.3M USD. Net income FY2023 −12.66M USD. Net income FY2024 −15.62M USD. Net income FY2025 −40.36M USD.
Metric (USD)FY2025FY2024FY2023
Revenue47.32M USD31.62M USD19.27M USD
Cost of goods sold11.12M USD7.28M USD4M USD
Gross profit36.2M USD24.34M USD15.27M USD
Research and development7.73M USD4.49M USD3.02M USD
Selling, general, and administrative54.77M USD34.51M USD23.11M USD
Operating expenses62.5M USD38.99M USD26.13M USD
Interest expense70K USD1.32M USD761K USD
Depreciation and amortization3.21M USD2.2M USD1.64M USD
Operating income−26.3M USD−14.65M USD−10.86M USD
Net income−40.36M USD−15.62M USD−12.66M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
40%
2 beats, 3 misses, 0 met estimates
Average EPS surprise
-2029.08%
5 comparable reports
Latest EPS result
-0.46
Estimate -0.46 · Miss by 0.32%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-0.01-0.24-0.47-0.7Q4 '24No estimateQ3 '25No estimateQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ3 '26Estimate
Q4 2024, reported Dec 31, 2024: actual -0.19, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 9, 2025: actual -0.237, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Sep 9, 2025: actual -0.645, estimate -0.006, surprise -10131.71%, Miss. Q4 2025, reported Nov 11, 2025: actual -0.48, estimate -0.37, surprise -29.73%, Miss. Q1 2026, reported Mar 10, 2026: actual -0.38, estimate -0.42, surprise +9.52%, Beat. Q2 2026, reported May 13, 2026: actual -0.41, estimate -0.44, surprise +6.82%, Beat. Q3 2026, reported Aug 6, 2026: actual -0.46, estimate -0.459, surprise -0.32%, Miss. Q3 2026, reported Sep 8, 2026: actual —, estimate -0.46, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates17.86M14.59M11.31M8.04MQ4 '24No estimateQ3 '25No estimateQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ3 '26Estimate
Q4 2024, reported Dec 31, 2024: actual 8.73M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 9, 2025: actual 10.13M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Sep 9, 2025: actual 11.01M USD, estimate 11M USD, surprise +0.10%, Beat. Q4 2025, reported Nov 11, 2025: actual 11.76M USD, estimate 9.87M USD, surprise +19.10%, Beat. Q1 2026, reported Mar 10, 2026: actual 14.42M USD, estimate 12.79M USD, surprise +12.69%, Beat. Q2 2026, reported May 13, 2026: actual 16.71M USD, estimate 14.54M USD, surprise +14.94%, Beat. Q3 2026, reported Aug 6, 2026: actual 17.18M USD, estimate 16.56M USD, surprise +3.71%, Beat. Q3 2026, reported Sep 8, 2026: actual —, estimate 15.47M USD, surprise —, Comparison unavailable.

SI news

prnewswire.com

Shoulder Innovations Promotes Jon Osborne to Chief Commercial Officer

GRAND RAPIDS, Mich., Aug. 10, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the…

Read source
marketbeat.com

Shoulder Innovations Q2 Earnings Call Highlights

Shoulder Innovations NYSE: SI reported second-quarter net revenue of $17.2 million, up 56% from $11 million a year earlier, as the company added surgeons, expanded use among existing customers and advanced several…

Read source
seekingalpha.com

Shoulder Innovations, Inc. (SI) Q2 2026 Earnings Call Transcript

Shoulder Innovations, Inc. (SI) Q2 2026 Earnings Call Transcript

Read source
zacks.com

Shoulder Innovations, Inc. (SI) Reports Q2 Loss, Beats Revenue Estimates

Shoulder Innovations, Inc. (SI) came out with a quarterly loss of $0.46 per share in line with the Zacks Consensus Estimate. This compares to a loss of $64.47 per share a year ago.

Read source
prnewswire.com

Shoulder Innovations Reports Second Quarter 2026 Financial Results and Raises Full Year Outlook

Generates First Half 2026 Revenue Growth of 60% GRAND RAPIDS, Mich., Aug. 6, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology…

Read source
prnewswire.com

Shoulder Innovations to Participate in the Canaccord Genuity 46th Annual Growth Conference

GRAND RAPIDS, Mich., July 29, 2026 /PRNewswire/ -- Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the…

Read source

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ETFs holding SI

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
7.33M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
5.76M
Weight
0.01%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
State Street SPDR Portfolio Emerging Markets ETF logoState Street SPDR Portfolio Emerging Markets ETFSPEM
Market value
2.36M
Weight
0.01%
AUM
17.57B USD
Expense ratio
0.07%
Price / 1D
$52.38+0.61%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
1.93M
Weight
0.01%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
1.36M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
1.34M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%
iShares Micro-Cap ETF logoiShares Micro-Cap ETFIWC
Market value
804.24K
Weight
0.05%
AUM
1.53B USD
Expense ratio
0.60%
Price / 1D
$198.39+1.10%
John Hancock Multifactor Emerging Markets ETF logoJohn Hancock Multifactor Emerging Markets ETFJHEM
Market value
237.39K
Weight
0.02%
AUM
1.03B USD
Expense ratio
0.49%
Price / 1D
$39.78+0.20%

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