SIBN

EX-99.1

2 exhibit991_q126earningsrel.htm

EX-99.1

Document

Exhibit 99.1

SI-BONE, Inc. Reports Financial Results for the First Quarter 2026 and Raises 2026 Guidance

Delivered ~11% worldwide revenue growth, record physician engagement and ~440% improvement in adjusted EBITDA

First Quarter 2026 Financial Highlights (all comparisons are to the prior year period)

•Worldwide revenue of $52.6 million, representing growth of 11.2%

•U.S. revenue of $49.3 million, representing growth of 10.0%

•Gross margin of 79.8%

•Net loss of $4.3 million, representing an improvement of 33.8%

•Adjusted EBITDA of $2.5 million, representing an improvement of over 440%

•$144.7 million in cash and equivalents

Recent Operational Highlights (any comparisons are to the prior year period)

•Over 1,650 active U.S. physicians, representing growth of 17%

•$2.2 million in trailing 12-month average revenue per territory, representing an increase of 11%

•Expanded international presence with the launch of iFuse TORQ TNT in Europe and iFuse TORQ in Australia

•CMS proposes, in their FY2027 IPPS Proposed Rule, the creation of a new MS-DRG family with higher payment for hospitals supporting complex spinal fusion procedures that incorporate iFuse Bedrock Granite

SANTA CLARA, Calif. May 11, 2026 - SI-BONE, Inc. (Nasdaq: SIBN), the global leader in developing procedural solutions to address clinical challenges associated with compromised bone, today reported financial results for the quarter ended March 31, 2026.

"The first quarter demonstrated the strength and durability of our platform, with record physician engagement and double-digit growth across all key metrics," said Laura Francis, Chief Executive Officer. "We advanced several high-impact initiatives during the quarter, including the U.S. launch of INTRA Ti, our trauma partnership with Smith + Nephew, and the introduction of iFuse TORQ TNT and iFuse TORQ across various international markets, each of which expands our addressable market and deepens our competitive position. With growing commercial scale and our third breakthrough device on track for launch later this year, we are well positioned to accelerate revenue growth through 2026 and into 2027."

First Quarter 2026 Financial Results

Worldwide revenue was $52.6 million in the first quarter 2026, a 11.2% increase from $47.3 million in the corresponding period in 2025. U.S. revenue for the first quarter 2026 was $49.3 million, a 10.0% increase from $44.8 million in the corresponding period in 2025. U.S revenue growth benefited from expanded adoption of the product portfolio across all sites of care and increased sales channel coverage. International revenue for the first quarter 2026 was $3.3 million, a 33.9% increase from $2.5 million in the corresponding period in 2025. International revenue growth reflects the growing demand for iFuse TORQ.

Gross profit was $41.9 million in the first quarter 2026, an increase of 11.3% from $37.7 million in the corresponding period in 2025. Gross margin in the first quarter 2026 was stable compared to the prior year period at 79.8%.

Operating expenses increased 4.1% to $47.0 million in the first quarter 2026, as compared to $45.2 million in the corresponding period in 2025. The change in operating expenses was primarily driven by general commercial activity related to higher revenue and new product rollout.

Operating loss improved by 31.9% to $5.1 million in the first quarter 2026, as compared to an operating loss of $7.5 million in the corresponding period in 2025.

Net loss improved by 33.8% to $4.3 million, or $0.10 per diluted share, in the first quarter 2026, as compared to a net loss of $6.5 million, or $0.15 per diluted share, in the corresponding period in 2025.

Adjusted EBITDA was $2.5 million in the first quarter 2026, improving from an adjusted EBITDA of $0.5 million in the corresponding period in 2025.

Cash and equivalents as of March 31, 2026 were $144.7 million, compared to $147.8 million as of December 31, 2025.

Updated Fiscal 2026 Financial Guidance

SI-BONE increased 2026 worldwide revenue expectation to be in the range of $230 million to $233 million, implying year-over-year growth of ~14% to 16%. SI-BONE increased its estimate for full year 2026 gross margin to ~79%.

Fiscal Year 2026 Guidance

New (May 11, 2026)

Prior (February 23, 2026)

Revenue

$230.0M - $233.0M

~14-16% growth

$228.5M - $232.5M

~14%-16% growth

Gross Margin ~79.0% ~78.0%

Operating Expenses ~12.5% growth

at revenue midpoint

~12.5% growth

at revenue midpoint

Adjusted EBITDA Positive

Positive

Webcast Information

SI-BONE will host a conference call to discuss the first quarter 2026 financial results after market close on Monday, May 11, 2026 at 4:30 P.M. Eastern Time. The conference call can be accessed live over webcast at https://edge.media-server.com/mmc/p/vde24u4q. Live audio of the webcast will be available on the “Investors” section of the company’s website at: www.si-bone.com. The w

sibn-202602200001459839false00014598392026-02-202026-02-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 20, 2026

SI-BONE, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-38701 26-2216351 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

471 El Camino Real Suite 101 Santa Clara, CA 95050 (Address of principal executive offices) (Zip Code)

(408) 207-0700 (Registrant’s telephone number, include area code)

N/A (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per shareSIBNThe Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On February 20, 2026, SI-BONE, Inc. (the “Company”) and Orchard Commons, LLC (the “Landlord”) entered into a lease agreement (the “Lease”), pursuant to which the Company will lease approximately 50,485 square feet of space located at 88 West Plumeria Drive, San Jose, California 95134 (the “Premises”).

The term of the Lease will commence on the earlier of (a) October 1, 2026 and (b) the date of the Company’s commencement of its business operations in substantially all of the Premises, and will expire on the date that is one hundred and two (102) months from such commencement date. The Company will have one option to extend the term of the Lease for an additional period of five (5) years. The Company also has a one-time right to lease the space of approximately 28,531 square feet that is contiguous to the Premises if and to the extent such space is available. The monthly base rent due under the Lease is initially $128,737 for the first year and is scheduled to increase by approximately 3% per year for each subsequent year. In addition to the base rent, the Company is required to pay its share of operating expenses, which include certain taxes, costs, expenses and disbursements. The Company is also required to provide a security deposit of $163,067 to the Landlord. Subject to customary terms and conditions set forth in the Lease, the Company is entitled to (i) rent abatement for the first six (6) months, (ii) a tenant improvement allowance of $70 per square foot, and (iii) an allowance for power upgrades of $5 per square foot. The Landlord has the right to terminate the Lease upon customary events of default.

The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which will be filed with the Securities and Exchange Commission as an exhibit to the Company’s Annually Report on Form 10-K for the fiscal year ended December 31, 2025 and incorporated herein by reference.

Item 2.02. Results of Operations and Financial Condition.

On February 23, 2026, the Company issued a press release (the “Press Release”) announcing results for the quarter and year ended December 31, 2025. A copy of the Press Release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.

The information under Item 2.02 in this current report on Form 8-K and the related information in the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (th

sibn-202601120001459839false00014598392026-01-122026-01-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 12, 2026

SI-BONE, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-38701 26-2216351 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

471 El Camino Real Suite 101 Santa Clara, CA 95050 (Address of principal executive offices) (Zip Code)

(408) 207-0700 (Registrant’s telephone number, include area code)

N/A (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per shareSIBNThe Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On January 12, 2026, SI-BONE, Inc. (the "Company") issued a press release (the “Press Release”) announcing preliminary unaudited revenue and cash and equivalents for the fourth quarter and full year 2025. A copy of the Press Release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

Members of the Company's management team expect to meet with investors and analysts the week of January 12, 2026, to discuss the Company performance, using presentation materials which are furnished and attached as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1 Press release dated January 12, 2026

99.2Presentation dated January 12, 2026

104Cover Page Interactive Date File (embedded within the Inline XBRL document)

The information in Items 2.02 and 7.01 and Exhibits 99.1 and 99.2, of this Current Report on Form 8-K are being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 as amended (Exchange Act), or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (Securities Act). The information in Items 2.02 and 7.01, and Exhibits 99.1 and 99.2 shall not be deemed incorporated by reference in any filing under the Securities Act, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SI-BONE, INC.

Date:January 12, 2026 By:/s/ Anshul Maheshwari Anshul Maheshwari Chief Financial Officer (Principal Financial and Accounting Officer)