Shoulder Innovations (NYSE:SI) Announces Earnings Results, Beats Estimates By $0.03 EPS

Posted by Brian Himes on May 13th, 2026

Shoulder Innovations (NYSE:SI – Get Free Report) posted its earnings results on Wednesday. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03, FiscalAI reports. Shoulder Innovations had a negative net margin of 85.29% and a negative return on equity of 37.68%. The business had revenue of $16.71 million for the quarter.

Here are the key takeaways from Shoulder Innovations’ conference call:

First-quarter revenue beat expectations, with net revenue of $16.7 million up 65% year over year and 16% sequentially, while gross margin improved to 77.7%.
The company raised full-year 2026 revenue guidance to $65 million-$68 million, up from $62 million-$65 million, reflecting confidence in new surgeon adoption, higher utilization, and product launches.
Commercial momentum remained strong as total implant volume rose 51% year over year, with new customers entering the funnel faster and existing core surgeons increasing usage.
The company advanced its product pipeline, including full commercial launch of the i135RFX humeral stem, limited user release of the N22 Glenosphere, and progress on its robotic platform with a 510(k) submission targeted for 2027.
Operating expenses increased, with SG&A and R&D both higher year over year, but management said cash burn should decline meaningfully from Q2 onward and reiterated confidence in reaching cash flow breakeven over time.

Shoulder Innovations Stock Performance

NYSE SI traded up $0.19 during midday trading on Wednesday, hitting $13.56. The company had a trading volume of 43,480 shares, compared to its average volume of 74,922. The company has a quick ratio of 9.55, a current ratio of 11.07 and a debt-to-equity ratio of 0.11. The stock has a market cap of $281.14 million and a price-to-earnings ratio of -0.06. The firm has a fifty day simple moving average of $14.02 and a two-hundred day simple moving average of $13.98. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94.

Analysts Set New Price Targets

SI has been the topic of a number of research analyst reports. BTIG Research raised their target price on shares of Shoulder Innovations from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price (up from $18.00) on shares of Shoulder Innovations in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Shoulder Innovations currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Read Our Latest Research Report on Shoulder Innovations

Insider Buying and Selling at Shoulder Innovations

In other news, CEO Robert Joseph Ball acquired 2,200 shares of Shoulder Innovations stock in a transaction on Friday, March 13th. The stock was bought at an average price of $15.18 per share, for a total transaction of $33,396.00. Following the transaction, the chief executive officer owned 278,866 shares of the company’s stock, valued at $4,233,185.88. The trade was a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey S. Points acquired 2,000 shares of the stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer owned 70,785 shares of the company’s stock, valued at $1,061,775. This trade represents a 2.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 5,200 shares of company stock worth $78,236 over the last 90 days. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SI. Sectoral Asset Management Inc. boosted its stake in Shoulder Innovations by 14.4% during the fourth quarter. Sectoral Asset Management Inc. now owns 492,435 shares of the company’s stock worth $7,042,000 after buying an additional 62,153 shares in the last quarter. Deerfield Management Company L.P. bought a new position in shares of Shoulder Innovations during the 3rd quarter worth about $6,056,000. Alyeska Investment Group L.P. bought a new position in shares of Shoulder Innovations during the 3rd quarter worth about $5,667,000. TimesSquare Capital Management LLC acquired a new stake in shares of Shoulder Innovations during the 3rd quarter valued at about $4,799,000. Finally, Roubaix Capital LLC raised its position in Shoulder Innovations by 61.9% in the first quarter. Roubaix Capital LLC now owns 257,121 shares of the company’s stock worth $3,736,000 after purchasing an additional 98,305 shares in the last quarter.

About Shoulder Innovations

(Get Free Report)

Shoulder Innovations (NYSE:SI) is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.