Shoulder Innovations | 8-K: FY2025 Q3 Revenue: USD 11.76 M
Revenue: As of FY2025 Q3, the actual value is USD 11.76 M.
EPS: As of FY2025 Q3, the actual value is USD -0.64.
EBIT: As of FY2025 Q3, the actual value is USD -7.563 M.
Segment Revenue
Shoulder Innovations, Inc. reported net revenue of $11.8 million for the third quarter of 2025, marking a 58% increase compared to $7.5 million in the third quarter of 2024.
Operational Metrics
Gross margin for the third quarter of 2025 was 76.2%, slightly down from 76.5% in the third quarter of 2024. Selling, general, and administrative expenses increased by 78% to $15.1 million in the third quarter of 2025, compared to $8.5 million in the same period of 2024. Research and development expenses rose by 40% to $1.5 million in the third quarter of 2025, up from $1.1 million in the third quarter of 2024. Operating loss for the third quarter of 2025 was - $7.6 million, compared to - $3.9 million in the third quarter of 2024. Net loss for the third quarter of 2025 was - $8.7 million, compared to - $4.1 million in the third quarter of 2024. Adjusted EBITDA was a loss of - $7.5 million in the third quarter of 2025, compared to a loss of - $2.9 million in the third quarter of 2024.
Cash Flow
As of September 30, 2025, cash and cash equivalents, and marketable securities totaled $137 million, which includes approximately $115 million of gross proceeds from the issuance of convertible notes and the initial public offering.
Unique Metrics
Shoulder Innovations sold 1,584 total implant systems in the third quarter of 2025, a 53% increase over the prior year quarter.
Outlook / Guidance
Shoulder Innovations has increased its full-year revenue guidance for 2025 to be in the range of $45 million to $46 million, representing growth of approximately 42% to 45% over full-year 2024 revenue. The company plans to initiate a limited market release of new products in early 2026, with expectations for significant investments in the sales force to drive growth. New product launches are expected to have a higher ASP and margin profile, contributing positively to gross margin.
