Shoulder Innovations (NYSE:SI) reported a first-quarter net revenue of $16.7 million for the period ending March 31, 2026, marking a 65% increase year-over-year and a 16% increase sequentially. The company’s gross margin improved to 77.7%. Following this strong performance, Shoulder Innovations raised its full-year net revenue guidance to between $65 million and $68 million, nearly doubling its earlier estimate of $62 million to $65 million.
The company significantly expanded its customer base, onboarding 134 “core and contender” surgeons, up 61% year-over-year, with total implant volume rising 51% to 2,184 units. Shoulder Innovations also launched several new product initiatives, including the i135 RFX and N22 Glenosphere, aiming to address unmet needs in shoulder arthroplasty. The CEO stated that the company is on track for a 510(k) submission for a robotic surgery solution by 2027.
Despite a net loss of $8.4 million compared to $4.7 million a year earlier, the company reported a positive outlook for continued growth driven by increased surgeon adoption and deeper market penetration. As of March 31, 2026, it held $108.5 million in cash and cash equivalents.
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