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SI-BONE reported 4Q25 orthopedic sales of $56.4 million, up 15% compared to the fourth quarter of 2024. For the full year, the company generated $200.9 million in orthopedic sales, up 20.2% compared to the prior year.
The company has averaged 20% yearly growth since its 2018 IPO and saw more than 2,400 U.S. physicians perform almost 22,000 procedures in 2025, marking a 22% increase in U.S. physicians.
SI-BONE said about a quarter of the physicians who performed an SI Joint Fusion procedure have adopted at least one other procedure, highlighting an opportunity to further expand market penetration.
“We’ve built deep technical expertise to solve complex procedural challenges that historically lead to poor outcomes for patients with compromised bone,” said SI-BONE CEO Laura Francis. “That expertise has produced a differentiated platform of solutions, including three products that have been granted FDA breakthrough device designation. We’ve consistently secured favorable reimbursement, including multiple new technology add-on payments and a transitional pass-through payment, confirming the superior outcomes, clinical value and health economic benefits we deliver.”
In February 2026, SI-BONE announced a partnership with Smith+Nephew to capitalize on the growing interest in SI-BONE trauma solutions.
SNN reps will carry trauma-related SI-BONE products in Level 1 and Level 2 trauma centers nationwide. SNN gains access to breakthrough technology, while SI-BONE can focus on spine surgeons and interventionalists.
For the full year 2026, SI-BONE expects sales between $228.5 million and $232.5 million, up 14% to 16% compared to 2025.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 4Q25 | 4Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $56.4 | $49.0 | $7.3 | 15% |
| Segment | FY25 | FY24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $200.9 | $167.2 | $33.7 | 20.2% |
Orthopedic Sales by Geography
| Region | 4Q25 | 4Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $53.4 | $46.9 | $6.5 | 13.8% |
| OUS | $3.0 | $2.1 | $0.9 | 41.4% |
| Total | $56.4 | $49.0 | $7.3 | 15% |
| Region | FY25 | FY24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $191.0 | $158.4 | $32.6 | 20.6% |
| OUS | $9.9 | $8.8 | $1.1 | 13% |
| Total | $200.9 | $167.2 | $33.7 | 20.2% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $56.4 | |
| Cost of Sales | $11.8 | 21% |
| Sales and Marketing | $32.8 | 58.2% |
| General and Admin | $9.8 | 17.4% |
| R & D | $4.4 | 7.7% |
| Other | ($0.8) | (1.4%) |
| Net Earnings | ($1.6) | (2.9%) |
SI-BONE reported 4Q25 orthopedic sales of $56.4 million, up 15% compared to the fourth quarter of 2024. For the full year, the company generated $200.9 million in orthopedic sales, up 20.2% compared to the prior year.
The company has averaged 20% yearly growth since its 2018 IPO and saw more than 2,400 U.S. physicians perform almost 22,000...
SI-BONE reported 4Q25 orthopedic sales of $56.4 million, up 15% compared to the fourth quarter of 2024. For the full year, the company generated $200.9 million in orthopedic sales, up 20.2% compared to the prior year.
The company has averaged 20% yearly growth since its 2018 IPO and saw more than 2,400 U.S. physicians perform almost 22,000 procedures in 2025, marking a 22% increase in U.S. physicians.
SI-BONE said about a quarter of the physicians who performed an SI Joint Fusion procedure have adopted at least one other procedure, highlighting an opportunity to further expand market penetration.
“We’ve built deep technical expertise to solve complex procedural challenges that historically lead to poor outcomes for patients with compromised bone,” said SI-BONE CEO Laura Francis. “That expertise has produced a differentiated platform of solutions, including three products that have been granted FDA breakthrough device designation. We’ve consistently secured favorable reimbursement, including multiple new technology add-on payments and a transitional pass-through payment, confirming the superior outcomes, clinical value and health economic benefits we deliver.”
In February 2026, SI-BONE announced a partnership with Smith+Nephew to capitalize on the growing interest in SI-BONE trauma solutions.
SNN reps will carry trauma-related SI-BONE products in Level 1 and Level 2 trauma centers nationwide. SNN gains access to breakthrough technology, while SI-BONE can focus on spine surgeons and interventionalists.
For the full year 2026, SI-BONE expects sales between $228.5 million and $232.5 million, up 14% to 16% compared to 2025.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 4Q25 | 4Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $56.4 | $49.0 | $7.3 | 15% |
| Segment | FY25 | FY24 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $200.9 | $167.2 | $33.7 | 20.2% |
Orthopedic Sales by Geography
| Region | 4Q25 | 4Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $53.4 | $46.9 | $6.5 | 13.8% |
| OUS | $3.0 | $2.1 | $0.9 | 41.4% |
| Total | $56.4 | $49.0 | $7.3 | 15% |
| Region | FY25 | FY24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $191.0 | $158.4 | $32.6 | 20.6% |
| OUS | $9.9 | $8.8 | $1.1 | 13% |
| Total | $200.9 | $167.2 | $33.7 | 20.2% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $56.4 | |
| Cost of Sales | $11.8 | 21% |
| Sales and Marketing | $32.8 | 58.2% |
| General and Admin | $9.8 | 17.4% |
| R & D | $4.4 | 7.7% |
| Other | ($0.8) | (1.4%) |
| Net Earnings | ($1.6) | (2.9%) |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
