Si-Bone, Inc. (NASDAQ: SIBN), a medical device company specializing in sacropelvic disorder solutions, has reported its preliminary and unaudited revenue and cash and cash equivalents for the fourth quarter and full year of 2024. The company achieved significant growth in its worldwide revenue, with fourth-quarter 2024 revenue ranging between approximately $48.8 to $49.0 million, representing a substantial increase of around 26% compared to the prior year period.
In the United States, Si-Bone saw impressive growth as well, with fourth-quarter revenue ranging between $46.7 to $46.9 million, reflecting an approximate 28% increase compared to the same period in the prior year. The company also reported ending the quarter with approximately 1,390 active physicians in the U.S., marking a robust growth of around 23%.
For the full fiscal year of 2024, Si-Bone's worldwide revenue amounted to approximately $167.0 to $167.1 million, showcasing a remarkable growth of around 20% compared to the prior year. Similarly, U.S. revenue for the full year was between $158.2 to $158.4 million, indicating a substantial increase of approximately 21% compared to the previous year.
Additionally, Si-Bone achieved adjusted EBITDA profitability in the fourth quarter of 2024, underscoring the company's financial performance and operational efficiency. The company's cash and marketable securities stood at approximately $150 million, with a net cash use of approximately $0.8 million in the quarter.
Si-Bone expects to release its complete financial results for the fourth quarter and full year of 2024 during its fourth quarter 2024 earnings call in late February 2025. The company's significant growth in revenue and active physicians, coupled with its achievement of adjusted EBITDA profitability, reflects its continued momentum and success in addressing sacropelvic disorders.
Si-Bone, Inc. has been a pioneer in minimally invasive sacroiliac joint surgery and has supported a large number of physicians in performing over 115,000 procedures since 2009. The company's leadership in minimally invasive sacroiliac joint fusion has also enabled it to introduce innovative solutions for adjacent markets, including adult deformity, sacropelvic fixation, and pelvic trauma.
As Si-Bone continues to expand its presence and offerings, the company's strong financial performance and growth trajectory position it as a global leader in developing unique technologies for the surgical treatment of sacropelvic disorders. As a result of these announcements, the company's shares have moved 19.0% on the market, and are now trading at a price of $16.32. Check out the company's full 8-K submission here.
