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SI-BONE

SIBN
37
Medical - Devices · Healthcare
Price
$19.96
+0.48 (+2.46%)
Market Cap
$885.2M
Exchange
NASDAQ
Winston Score
37
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Strong
Cash Flow
Weak
Stability
Good
Valuation
Data not available
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Share count rising — dilution

+31.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 33.1M (2021) → 43.5M (2025)

Winston Score History

The full picture

SI-BONE, Inc., a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers iFuse, a minimally invasive surgical implant system to address sacroiliac joint dysfunction and degeneration, adult deformity, and pelvic ring traumatic fractures.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+15.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+34.4% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$17M/ year

↑ Rising (+5% vs prior year)

8.7% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

2.5%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

$146M cash & investments at current burn rate

Growth context

SI-BONE is growing revenue at 15% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
79.5%
Premium pricing power — 79.5% gross margin
Profit after running costs
Operating Margin
-8.6%
Losing money on operations — -8.6%
Return on the money invested
ROCE
-9.4%
Weak — -9.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+15.3%
Fast-growing sales (+15.3% YoY)
Profit growth
EPS YoY
N/A
—
Data not available
How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
—
Data not available
Spare cash per sale
FCF Margin
-2.1%
Burning cash (-2.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.04
Conservative — low debt load (0.04)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
—
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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