SHOULDER INNOVATIONS, INC. (SI)
SHOULDER INNOVATIONS, INC. (SI)
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Gross profit | 12,986 | 11,057 | 8,961 | 16,184 |
| General and administrative | 8,625 | 7,498 | 7,703 | 11,033 |
| Sales and marketing | 8,276 | 7,115 | 6,248 | 10,182 |
| Medical education | 1,307 | 1,727 | 1,126 | 2,136 |
| Research and development | 3,754 | 3,217 | 1,525 | 2,989 |
| Total other (income) expense | 597 | 728 | -1,088 | -13,702 |
| Net loss | -8,379 | -7,772 | -8,729 | -23,858 |
| Depreciation and amortization | 1,132 | 980 | 843 | 1,385 |
| Amortization of debt discounts | 50 | 63 | 64 | 126 |
| Credit losses, net of recoveries | NaN | 153 | NaN | NaN |
| Loss on disposal of long-lived assets | NaN | -100 | NaN | NaN |
| Stock-based compensation expense | 726 | 381 | 298 | 317 |
| Realized gain on marketable securities | 161 | 2 | 195 | 207 |
| Change in fair value of warrant liabilities and series e purchase option | NaN | 0 | -1,159 | 13,134 |
| Change in fair value of convertible notes, net | NaN | 1 | 2,216 | NaN |
| Other | -120 | 166 | -67 | -99 |
| Trade accounts receivable | 2,389 | 1,239 | 240 | 1,820 |
| Inventory | 238 | 2,233 | 2,277 | 3,126 |
| Prepaid expenses | 187 | -192 | 1,019 | 260 |
| Accounts payable | -3,219 | 1,580 | 807 | 982 |
| Other current assets and liabilities | -187 | 821 | -769 | -1,954 |
| Net cash used in operating activities | -12,358 | -8,783 | -8,555 | -11,274 |
| Fixed asset purchases | 2,735 | 2,282 | 2,815 | 2,311 |
| Purchases of marketable securities | 18,170 | 23,909 | 75,105 | 20,477 |
| Sales of marketable securities | 17,783 | 8,909 | 5,484 | 16,909 |
| Net cash used in investing activities | -3,122 | -17,282 | -72,436 | -5,879 |
| Proceeds from exercise of common stock options | 101 | 231 | 537 | 151 |
| Proceeds from exercise of preferred stock warrants | 0 | 0 | 93 | 362 |
| Proceeds from series e convertible preferred stock, net of issuance cost | 0 | 0 | -45 | 39,553 |
| Proceeds from the issuance of convertible notes, net of issuance costs | NaN | 0 | 39,863 | NaN |
| Payment of deferred ipo offering costs | NaN | NaN | NaN | 1,982 |
| Proceeds from ipo, net of commissions and issuance costs | NaN | -2,229 | 66,441 | NaN |
| Net cash provided by financing activities | 101 | -1,998 | 108,871 | 38,084 |
| Net change in cash for period | -15,379 | -28,063 | 27,880 | 20,931 |
| Cash and cash equivalents, beginning of period | 26,871 | 54,934 | 6,123 | NaN |
| Cash and cash equivalents, end of period | 11,492 | 26,871 | 54,934 | NaN |