Shoulder Innovations (SI) Income Statement

Shoulder Innovations reported revenue of $47.32M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 49.6% from $31.62M a year earlier. Shoulder Innovations posted a net loss of $40.36M, compared with a net loss of $15.62M a year earlier. Gross margin was 76.5% and operating margin -55.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $17.18M, up 56.0% from the same quarter a year earlier.

Shoulder Innovations Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Shoulder Innovations, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023
Period ending	Dec 2025	Dec 2024	Dec 2023
Revenue & Gross Profit
Revenue	47.32	31.62	19.27
Cost of Revenue	11.12	7.28	4.00
Gross Profit	36.20	24.34	15.27
Operating Expenses
Research & Development	7.73	4.49	3.02
Selling, General & Administrative	54.77	34.51	23.11
Operating Expenses	62.50	38.99	26.13
Operating Income	-26.30	-14.65	-10.86
Other Income/Expense
Interest Income	0.00	0.00	0.00
Interest Expense	0.07	-1.32	0.76
Other Income/Expense	-14.06	-0.97	-1.79
Income
Income Before Tax	-40.36	-15.62	-12.66
Income Tax Expense	0.00	0.00	0.00
Net Income	-40.36	-15.62	-12.66
Net Income - Continuous Operations	-40.36	-15.62	-12.66
Net Income - Discontinued Operations	-	-	-
EBITDA	-37.08	-12.76	-10.25
EBIT	-26.30	-14.65	-11.89
Depreciation & Amortization	3.21	1.90	1.64
Earnings Per Share
Basic EPS	-2.00	-242.00	-1.00
Diluted EPS	-2.00	-242.00	-1.00
Basic Shares Outstanding	20.63	0.06	19.92
Diluted Shares Outstanding	20.63	0.06	19.92

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Shoulder Innovations Financial Statements

What was Shoulder Innovations's revenue in fiscal 2025?

Shoulder Innovations reported revenue of $47.32M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 49.6% from $31.62M a year earlier.

Is Shoulder Innovations profitable?

No. Shoulder Innovations reported a net loss of $40.36M in fiscal 2025. In fiscal 2024 it lost $15.62M.

What is Shoulder Innovations's operating margin?

Shoulder Innovations's operating income was −$26.30M on revenue of $47.32M in fiscal 2025, an operating margin of -55.6%, compared with -46.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition