# Shoulder Innovations, Inc.: overview

SI · NYSE · CIK 1699350 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/si.md) · [Financials](/companies/si/financials.md) · [Filings](/companies/si/filings.md) · [Insiders](/companies/si/insiders.md)

Latest reported revenue: [$17.2m](/filings/0001699350-26-000052.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:Revenues, accession 0001699350-26-000052).

## Last eight quarters

| Line item | Unit | period not labelled (2024-09-30) | period not labelled (2024-12-31) | period not labelled (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [7.5](/filings/0001699350-25-000017.md) | [8.7 d](/filings/0001699350-26-000011.md) | [10.1](/filings/0001699350-26-000035.md) | [11.0](/filings/0001699350-26-000052.md) | [11.8](/filings/0001699350-25-000017.md) | [14.4 d](/filings/0001699350-26-000011.md) | [16.7](/filings/0001699350-26-000035.md) | [17.2](/filings/0001699350-26-000052.md) |
| Gross margin | % | [76.5%](/filings/0001699350-25-000017.md) | [77.6% d](/filings/0001699350-26-000011.md) | [76.9%](/filings/0001699350-26-000035.md) | [76.2%](/filings/0001699350-26-000052.md) | [76.2%](/filings/0001699350-25-000017.md) | [76.7% d](/filings/0001699350-26-000011.md) | [77.7%](/filings/0001699350-26-000035.md) | [78.3%](/filings/0001699350-26-000052.md) |
| Operating margin | % | [(52.1%)](/filings/0001699350-25-000017.md) | [(40.5%) d](/filings/0001699350-26-000011.md) | [(42.4%)](/filings/0001699350-26-000035.md) | [(53.2%)](/filings/0001699350-26-000052.md) | [(65.0%)](/filings/0001699350-25-000017.md) | [(59.0%) d](/filings/0001699350-26-000011.md) | [(53.7%)](/filings/0001699350-26-000035.md) | [(58.4%)](/filings/0001699350-26-000052.md) |
| Net margin | % | [(54.4%)](/filings/0001699350-25-000017.md) | [(43.5%) d](/filings/0001699350-26-000011.md) | [(46.0%)](/filings/0001699350-26-000052.md) | [(174.3%)](/filings/0001699350-26-000052.md) | [(74.3%)](/filings/0001699350-25-000017.md) | [(53.9%) d](/filings/0001699350-26-000011.md) | [(50.1%)](/filings/0001699350-26-000052.md) | [(59.1%)](/filings/0001699350-26-000052.md) |
| Diluted EPS | $ per share | [(68.31)](/filings/0001699350-25-000017.md) | not reported | [(52.13)](/filings/0001699350-26-000035.md) | [(165.53)](/filings/0001699350-26-000052.md) | [(0.64)](/filings/0001699350-25-000017.md) | not reported | [(0.41)](/filings/0001699350-26-000035.md) | [(0.49)](/filings/0001699350-26-000052.md) |
| Free cash flow | $m | [(5.8) d](/filings/0001699350-25-000017.md) | [(4.3) d](/filings/0001699350-26-000011.md) | [(7.3)](/filings/0001699350-26-000035.md) | [(6.3) d](/filings/0001699350-26-000052.md) | [(11.4) d](/filings/0001699350-25-000017.md) | [(11.1) d](/filings/0001699350-26-000011.md) | [(15.1)](/filings/0001699350-26-000035.md) | [(9.5) d](/filings/0001699350-26-000052.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: |
| Revenue | $m | [31.6](/filings/0001699350-26-000011.md) | [47.3](/filings/0001699350-26-000011.md) |
| Gross margin | % | [77.0%](/filings/0001699350-26-000011.md) | [76.5%](/filings/0001699350-26-000011.md) |
| Operating margin | % | [(46.3%)](/filings/0001699350-26-000011.md) | [(55.6%)](/filings/0001699350-26-000011.md) |
| Net margin | % | [(49.4%)](/filings/0001699350-26-000011.md) | [(85.3%)](/filings/0001699350-26-000011.md) |
| Diluted EPS | $ per share | [(242.04)](/filings/0001699350-26-000011.md) | [(4.65)](/filings/0001699350-26-000011.md) |
| Free cash flow | $m | [(18.2)](/filings/0001699350-26-000011.md) | [(36.0)](/filings/0001699350-26-000011.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/si/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $74.5m | 3,673,960 |  | Reduced −110,592 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $12.9m | 638,420 |  | Added +82,368 |
| [SECTORAL ASSET MANAGEMENT INC](/funds/1274413.md) | 2026-06-30 | $8.7m | 430,407 |  | Unchanged |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $8.0m | 392,181 |  | Reduced −21,299 |
| [KCM Capital Inc](/funds/2026745.md) | 2026-06-30 | $6.1m | 300,000 |  | Added +265,000 |
| [TimesSquare Capital Management, LLC](/funds/1313816.md) | 2026-06-30 | $6.0m | 298,219 |  | Reduced −24,545 |
| [Roubaix Capital, LLC](/funds/1769700.md) | 2026-06-30 | $5.2m | 255,288 |  | Reduced −1,833 |
| [Driehaus Capital Management LLC](/funds/938206.md) | 2026-06-30 | $5.1m | 253,760 |  | New +253,760 |
| [Parkman Healthcare Partners LLC](/funds/1777015.md) | 2026-06-30 | $4.6m | 226,212 |  | New +226,212 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $4.0m | 199,529 |  | Added +15,850 |

## Recent filings

[All 133 filings](/companies/si/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-08 | 11:05 ET | [8-K](/filings/0001699350-26-000058.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001699350-26-000058 |
| 2026-08-10 | 11:09 ET | [8-K](/filings/0001699350-26-000054.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001699350-26-000054 |
| 2026-08-07 | 21:08 ET | [SCHEDULE 13D/A](/filings/0001193125-26-340485.md) | Ownership report, active investor, amended | 0001193125-26-340485 |
| 2026-08-06 | 21:14 ET | [10-Q](/filings/0001699350-26-000052.md) | Quarterly report, period 2026-06-30 | 0001699350-26-000052 |
| 2026-08-06 | 20:12 ET | [8-K](/filings/0001699350-26-000050.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001699350-26-000050 |
| 2026-06-29 | 11:07 ET | [8-K](/filings/0001699350-26-000044.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.03 New direct financial obligation; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001699350-26-000044 |
| 2026-06-26 | 20:09 ET | [8-K](/filings/0001699350-26-000042.md) | 5.07 Shareholder vote results | 0001699350-26-000042 |
| 2026-05-13 | 20:26 ET | [10-Q](/filings/0001699350-26-000035.md) | Quarterly report, period 2026-03-31 | 0001699350-26-000035 |
| 2026-05-13 | 20:08 ET | [8-K](/filings/0001699350-26-000033.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001699350-26-000033 |
| 2026-04-29 | 12:38 ET | [DEF 14A](/filings/0001699350-26-000026.md) | Proxy statement, period 2026-06-26 | 0001699350-26-000026 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001699350-26-000011.md), filed Mar 10, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/c3db4ac5-590b-4a98-bbfb-67f608b689a6)

## About the filer

- CIK: 1699350
- Tickers: SI
- Exchange: NYSE
- SIC code: 3841 Surgical & Medical Instruments & Apparatus
- State of incorporation: DE
- Filer category: <br>Emerging growth company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:46 ET. No prices; not investment advice.