SI-BONE

SIBN

Medical - Devices · Healthcare

Price

$17.38

-0.34 (-1.92%)

Market Cap

$770.8M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+31.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 33.1M (2021) → 43.5M (2025)

SI-BONE, Inc., a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers iFuse, a minimally invasive surgical implant system to address sacroiliac joint dysfunction and degeneration, adult deformity, and pelvic ring traumatic fractures. The company also provides iFuse-3D, a titanium implant that combines the triangular cross-section of the iFuse implant with the proprietary 3D-prin

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+33.3% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$17M/ year

↑ Rising (+5% vs prior year)

8.7% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

3.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~2 years

$34M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$34M cash & investments at current burn rate

Growth context

SI-BONE is growing revenue at 11% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

79.8%

Premium pricing power — 79.8% gross margin

Operating Margin

-9.7%

Losing money on operations — -9.7%

ROCE

-2.7%

Weak — -2.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+16.8%

Fast-growing sales (16.8% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-2.7%

Burning cash (-2.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.04

Conservative — low debt load (0.04)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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