The following is a summary of the SI-BONE, Inc. (SIBN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• SI-BONE reported a Q3 revenue of $40.3 million, reflecting a 19% growth.

• Adjusted EBITDA approached breakeven and cash usage was minimized to $700,000 in the quarter.

• Net loss improved by 34% to $6.6 million, or $0.16 per diluted share.

Business Progress:

• Achieved worldwide record revenue driven by product solutions iFuse-TORQ and iFuse Bedrock Granite.

• Launched breakthrough device iFuse-TORQ TNT tailored for trauma market.

• Expanded sales infrastructure with 82 territory managers and formation of strategic partnerships.

• Initiated NTAP process for product TNT and received transitional pass-through payment status for Granite.

• Conducted clinical trials such as STACI to reinforce product efficacy and safety expanding the potential for more robust physician engagement and adoption.

Opportunities:

• Expansion driven by iFuse platform strengthens company position in addressing the sacropelvic fixation and SI joint fusion market estimated at approximately $300 million.

• Transition of certain procedures to outpatient settings due to CPT code changes, promising reimbursement improvements and broader adoption potential.

• Potential future growth driven by robust pipeline of innovative products addressing unmet clinical needs.

Risks:

• Seasonality and procedural disruptions impacted revenue, such as effects from Hurricane Helene and IV solution supply issues potentially delaying cases.

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