SI-BONE, Inc. (SIBN)
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
$18.50-0.75%
Close 2026-09-04 · 1-day change
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
Intact: The reason to own it still holds.
SI-BONE is growing revenue from $47M to $232M in 2026. Gross margin stays strong near 79%. Operating income is improving, cutting losses from -$7.48M to -$5.09M. The company is on track to fix costs and grow sales.
SI-BONE still loses money and may not reach profit soon. Revenue growth could slow below 19%. Costs might rise, hurting margins and income.
The price is about 17% below our fair value near $21. Analysts expect 19% revenue growth, which matches our view.
Breaks if: Gross margin falls below 75% in FY26
Breaks if: Operating income worsens below -$7M in 2026-Q1
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story with a focus on improving financial performance. The current thesis is cautious, given recent mixed results and elevated risks in the market.
The market appears to have priced in a low expectations gap, suggesting that SIBN is currently viewed as justified in its valuation. There is a durable premium compared to peers, indicating that investors may expect more from SIBN than from similar companies.
Management is on track to achieve its revenue growth target of 15-16% for 2026, with recent results showing consistent improvement. However, the company remains loss-making, which presents a challenge for future profitability.
The thesis hinges on SIBN's ability to raise guidance in the next quarter and improve operating income. Additionally, the performance of larger healthcare companies could influence SIBN's trajectory, especially if they continue to show positive results.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports this improved outlook. There are no new threats identified that could weaken the thesis.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Focus on improving operating income through cost management and revenue growth.
Breaks if: Revenue falls below $200M in FY26
In the next 1-3 years, SIBN's performance will depend on management's execution and external market conditions. Not investment advice.