SI-BONE Inc. Common Stock (SIBN)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach SI-BONE as a Graham-style analyst: show me consistent earnings, conservative balance sheet, and a price that offers margin of safety. What I see is a $882 million market-cap medical device company at $19.68 close on 2026-10-13, with trailing revenue growing but no profits. In fiscal 2025, the year ended 2025-12-31, revenue was $200.9 million and net income was -$18.9 million. That loss is narrower than fiscal 2024's -$30.9 million on $167.2 million revenue and fiscal 2023's -$43.3 million on $138.9 million revenue. In the latest filed quarter, fiscal Q2 2026 ended 2026-06-30, revenue was $56.0 million and net income was -$4.1 million, versus -$6.2 million in fiscal Q2 2025. So the trajectory is improving, and FairStock's Altman Z-Score of 6.49 and debt-to-equity of 0.23 suggest the balance sheet is not immediately stretched. But the company still fails my earnings tests: FairStock lists P/E at -59.64, P/B at 4.82, ROE -8.30%, ROCE -4.62%, and trailing free cash flow of -$4.4 million, a -0.5% FCF yield. The Piotroski F-Score is 5/9, and the Lynch category is none because it has lost money in each of the last four years. Growth is real—15.18% revenue growth and 33.55% profit growth per FairStock—but I cannot call it a bargain when book value is 4.82 times and cash flow is negative. A durable moat may exist in specialized implants, but it is not yet visible in consistent profitability. I would need to see losses turn into cash earnings before paying this price.

In plain English: SI-BONE makes medical implants and instruments used in bone and joint procedures. The business is growing sales and losing less money than before, but it still does not earn a profit and uses more cash than it brings in. At $19.68 a share, the stock does not look cheap based on current profits because there are none; it looks like a bet on future growth.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer