Shoulder Innovations, Inc. (SI)
NYSE · Surgical & Medical Instruments & Apparatus · Manufacturing · CIK 1699350 · fiscal year ends in Dec
Closing price $19.13 on 30 Oct 2026; 52-week range $11.01 to $24.25.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $60.1M
- Net income, last twelve months
- -$35.0M
- Earnings per share
- -$1.92
- Gross margin
- 77.3%
- Operating margin
- -58.5%
- Net margin
- -58.3%
- Free cash flow
- -$47.1M
- Return on equity
- -28.2%
- Market value
- $398.2M
- Cash
- $24.5M
- Debt
- $14.8M
- Debt to equity
- 0.12
- Shares outstanding
- 20.8M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $47.3M | -$26.3M | -$40.4M | -$4.65 | -$36.0M | 10-K filed 10 Mar 2026 |
| FY2024 | 31 Dec 2024 | $31.6M | -$14.7M | -$15.6M | -$242.04 | -$18.2M | 10-K filed 10 Mar 2026 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $17.2M | -$10.2M | -$0.49 |
| Q1 FY2026 | 31 Mar 2026 | $16.7M | -$8.4M | -$0.41 |
| Q4 FY2025 | 31 Dec 2025 | $14.4M | -$7.8M | -$0.38 |
| Q3 FY2025 | 30 Sep 2025 | $11.8M | -$8.7M | -$0.64 |
| Q2 FY2025 | 30 Jun 2025 | $11.0M | -$19.2M | -$165.53 |
| Q1 FY2025 | 31 Mar 2025 | $10.1M | -$4.7M | -$52.13 |
| Q3 FY2024 | 30 Sep 2024 | $7.5M | -$4.1M | -$68.31 |
| Q2 FY2024 | 30 Jun 2024 | $8.3M | -$4.2M | -$72.74 |
Company events
The newest 8-K filings of 14 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 8 Oct 2026 | 8-K | Investor update | 7.01, 9.01 |
| 10 Aug 2026 | 8-K | Investor update | 7.01, 9.01 |
| 6 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 29 Jun 2026 | 8-K | Material agreement, Agreement ended, New debt, Investor update | 1.01, 1.02, 2.03, 7.01, 9.01 |
| 26 Jun 2026 | 8-K | Shareholder vote | 5.07 |
| 13 May 2026 | 8-K | Results | 2.02, 9.01 |
| 27 Apr 2026 | 8-K | Investor update | 7.01, 9.01 |
| 14 Apr 2026 | 8-K | Material agreement | 1.01 |
| 10 Mar 2026 | 8-K | Results, Leadership change | 2.02, 5.02, 9.01 |
| 2 Mar 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 3 Dec 2025 | 8-K | Investor update | 7.01, 9.01 |
| 12 Nov 2025 | 8-K | Results | 2.02, 9.01 |
Every filing
The newest filings with the SEC of 54 held.
| Filed | Form | Period |
|---|---|---|
| 8 Oct 2026 | 8-K | 8 Oct 2026 |
| 13 Aug 2026 | EFFECT | – |
| 10 Aug 2026 | 8-K | 10 Aug 2026 |
| 7 Aug 2026 | S-3 | – |
| 6 Aug 2026 | 10-Q | 30 Jun 2026 |
| 6 Aug 2026 | 8-K | 6 Aug 2026 |
| 29 Jun 2026 | 8-K | 26 Jun 2026 |
| 26 Jun 2026 | 8-K | 26 Jun 2026 |
| 13 May 2026 | 10-Q | 31 Mar 2026 |
| 13 May 2026 | 8-K | 13 May 2026 |
| 29 Apr 2026 | ARS | 31 Dec 2025 |
| 29 Apr 2026 | DEF 14A | 26 Jun 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 5 Oct 2026 | Tansey Casey M, Director | Took pay in stock | 733 | $19.60 | $14.4K | – | 6 Oct 2026 |
| 5 Oct 2026 | Sidow Kevin K., Director | Took pay in stock | 892 | $19.60 | $17.5K | – | 6 Oct 2026 |
| 5 Oct 2026 | Hykes Andrew, Director | Took pay in stock | 669 | $19.60 | $13.1K | – | 6 Oct 2026 |
| 5 Oct 2026 | Buckman Paul, Director | Took pay in stock | 1,275 | $19.60 | $25.0K | – | 6 Oct 2026 |
| 14 Sep 2026 | Ball Robert Joseph, CEO & Executive Chairman | Sale outside a trading plan | 10,175 | $18.45 | $187.7K | 380,824 | 14 Sep 2026 |
| 26 Aug 2026 | Gilde Healthcare Holding B.V., 10% owner | Sale outside a trading plan | 1,196 | $22.60 | $27.0K | 2,185,914 | 28 Aug 2026 |
| 24 Aug 2026 | Gilde Healthcare Holding B.V., 10% owner | Sale outside a trading plan | 681 | $22.62 | $15.4K | 2,187,110 | 24 Aug 2026 |
| 21 Aug 2026 | Gilde Healthcare Holding B.V., 10% owner | Sale outside a trading plan | 20,516 | $22.61 | $463.9K | 2,187,791 | 24 Aug 2026 |
| 20 Aug 2026 | Gilde Healthcare Holding B.V., 10% owner | Sale outside a trading plan | 3,900 | $22.60 | $88.1K | 2,208,307 | 24 Aug 2026 |
| 18 Aug 2026 | Ahearn Matthew Fraser, Chief Operating Officer | Sale under a trading plan | 12,586 | $20.94 | $263.5K | 245,776 | 18 Aug 2026 |
| 18 Aug 2026 | Ahearn Matthew Fraser, Chief Operating Officer | Sale under a trading plan | 1,600 | $21.38 | $34.2K | 244,176 | 18 Aug 2026 |
| 17 Aug 2026 | Ahearn Matthew Fraser, Chief Operating Officer | Sale under a trading plan | 8,314 | $20.10 | $167.1K | 258,362 | 18 Aug 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 14 Sep 2026 | ROBERT BALL, Officer, Director | 10,175 | $187.7K | 14 Sep 2026 |
| 17 Aug 2026 | MATTHEW AHEARN, Director, Officer | 22,500 | $466.4K | 17 Aug 2026 |
| 29 Jul 2026 | Gilde Healthcare Holding B.V.; Cooperatieve Gilde Healthcare V U.A., 10% Stockholder | 200,000 | $4.8M | 29 Jul 2026 |
| 12 Jun 2026 | MATTHEW AHEARN, Director, Officer | 20,000 | $375.2K | 12 Jun 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 7 Aug 2026 | Gilde Healthcare Holding B.V. | 13D amended | 10.7% | 2.2M |
| 6 Aug 2026 | FMR LLC | 13G amended | 17.7% | 3.7M |
| 7 May 2026 | cultivate(MD) Holdings, LLC | 13G amended | 3.6% | 767.8K |
| 14 Nov 2025 | LSV Associates II, LLC | 13G | 9.3% | 1.9M |
| 14 Nov 2025 | U.S. Venture Partners XII, L.P. | 13G | 13.3% | 2.7M |
| 12 Nov 2025 | cultivate(MD) Holdings, LLC | 13G | 6.7% | 1.4M |
Trades by members of the House
From each member's periodic transaction report.
| Traded | Member | Type | Amount | Disclosed |
|---|---|---|---|---|
| 8 Nov 2022 | Christopher L. Jacobs (NY27) | Sale | $1,001 - $15,000 | 12 Dec 2022 |
| 18 Jul 2022 | Christopher L. Jacobs (NY27) | Purchase | $1,001 - $15,000 | 9 Sep 2022 |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 710.1K | +12.67% | 6.35 |
| 30 Sep 2026 | 630.2K | +50.14% | 3.86 |
| 15 Sep 2026 | 419.8K | +39.21% | 4.69 |
| 31 Aug 2026 | 301.5K | +14.45% | 2.9 |
| 14 Aug 2026 | 263.5K | +21.81% | 1.92 |
| 31 Jul 2026 | 216.3K | +3.78% | 2.4 |
| 15 Jul 2026 | 208.4K | +6.65% | 1.83 |
| 30 Jun 2026 | 195.4K | -24.78% | 1 |
Funds that hold it
From each fund's latest Form 13F.
80 funds held it at 30 Jun 2026: 52 added and 11 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| FMR LLC | 3,673,960 | $74.5M | -110,592 |
| BlackRock, Inc. | 638,420 | $12.9M | +82,368 |
| Sectoral Asset Management Inc. | 430,407 | $8.7M | 0 |
| Vanguard Capital Management LLC | 392,181 | $8.0M | -21,299 |
| KCM Capital Inc | 300,000 | $6.1M | +265,000 |
| TimesSquare Capital Management, LLC | 298,219 | $6.0M | -24,545 |
| Roubaix Capital, LLC | 255,288 | $5.2M | -1,833 |
| Driehaus Capital Management LLC | 253,760 | $5.1M | +253,760 |
| Parkman Healthcare Partners LLC | 226,212 | $4.6M | +226,212 |
| Geode Capital Management, LLC | 199,529 | $4.0M | +15,850 |
Peers
Companies in the same industry.
- Stryker Corp. (SYK): revenue $26.3B, market value $110.9B
- 3M Co. (MMM): revenue $25.2B, market value $90.1B
- Boston Scientific Corp. (BSX): revenue $21.0B, market value $60.8B
- Becton Dickinson & Co. (BDX): revenue $20.8B, market value $53.9B
- Medline Inc. (MDLN): revenue –, market value $42.2B
- Resmed Inc. (RMD): revenue $5.7B, market value $32.3B
- Dexcom Inc. (DXCM): revenue $5.1B, market value $30.7B
- West Pharmaceutical Services Inc. (WST): revenue $3.4B, market value $28.8B
- Glaukos Corp. (GKOS): revenue $690.3M, market value $14.1B
- Solventum Corp. (SOLV): revenue $8.3B, market value $13.8B