SI-BONE Inc (NAS:SIBN)
$ 13.72 -0.68 (-4.72%) Market Cap: 575.39 Mil Enterprise Value: 463.11 Mil PE Ratio: 0 PB Ratio: 3.48 GF Score: 62/100
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Q3 2024 SI-BONE Inc Earnings Call Transcript

Nov 12, 2024 / 09:30PM GMT
Release Date Price: $15.63 (-1.82%)

Key Points

Positve
  • SI-BONE Inc (SIBN) reported record worldwide revenue of $40.3 million for Q3 2024, reflecting a 19% growth.
  • The company achieved significant progress towards profitability, with an adjusted EBITDA loss of only $200,000, a 94% improvement.
  • SI-BONE Inc (SIBN) received 510-K clearance for iFuse TORQ TNT, expanding its presence in the trauma market.
  • The company reported a 21% increase in revenue per territory, reaching $1.8 million, indicating strong sales infrastructure performance.
  • SI-BONE Inc (SIBN) ended the quarter with over 1,200 active physicians, an increase of nearly 150, demonstrating strong physician engagement.
Negative
  • The company experienced temporary disruptions in case scheduling and cancellations due to hurricanes, impacting revenue potential.
  • There was a higher summer seasonality impact due to surgeon vacations, affecting the quarter's revenue.
  • SI-BONE Inc (SIBN) faced challenges with IV solution supply issues, causing limited case deferrals at certain sites.
  • The company anticipates that some deferred cases due to hurricanes and IV shortages may move to 2025, affecting current year guidance.
  • Despite strong revenue growth, SI-BONE Inc (SIBN) still reported a net loss of $6.6 million for the quarter.
Operator

Good afternoon and welcome to SI-BONE third-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded for replay purposes.

I would now like to turn the call over to Saqib Iqbal, Senior Director of Investor Relations at SI-BONE for a few introductory comments.

Saqib Iqbal
SI-BONE Inc - Senior Director of Investor Relations

Thank you for participating in today's call. Joining me are Laura Francis, Chief Executive Officer; and Anshul Maheshwari, Chief Financial Officer. Earlier today, SI-BONE released financial results for the quarter ended September 30, 2024. A copy of the press release is available on the company's website.

Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of Federal Securities laws which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Any statements contained in this call that relate to expectations or

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