Shoulder Innovations (SI) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Shoulder Innovations reported total assets of $169.91M and total liabilities of $29.16M. Shareholders' equity was $140.75M, up 578.3% from $20.75M a year earlier. Total debt stood at $14.97M against $124.31M in cash and short-term investments, a net cash position of $109.33M. That puts debt-to-equity at 0.11, compared with 0.71 a year earlier.

Shoulder Innovations Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Shoulder Innovations, Inc. (SI) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023
Period ending	Dec 2025	Dec 2024	Dec 2023
Current Assets
Cash and Cash Equivalents	26.87	6.12	6.24
Short-Term Investments	97.43	8.92	26.58
Cash & Short-Term Investments	124.31	15.04	32.81
Accounts Receivable	8.27	5.12	4.69
Inventory	21.59	13.96	9.92
Other Current Assets	1.48	1.00	0.42
Total Current Assets	157.17	35.13	47.85
Non-Current Assets
Property, Plant & Equipment (Net)	12.64	7.56	5.75
Intangible Assets	0.10	0.40	0.70
Other Non-Current Assets	0.00	0.00	0.00
Total Non-Current Assets	12.74	7.96	6.45
Total Assets	169.91	43.08	54.29
Current Liabilities
Accounts Payable	8.87	4.86	1.96
Short-Term Debt	0.06	0.05	0.04
Accrued Liabilities	3.09	2.74	1.43
Other Current Liabilities	0.77	0.58	0.23
Total Current Liabilities	14.20	7.65	4.28
Non-Current Liabilities
Long-Term Debt	14.91	14.66	14.35
Other Non-Current Liabilities	0.00	0.97	75.33
Total Non-Current Liabilities	14.96	15.65	89.75
Total Liabilities	29.16	22.33	94.03
Stockholders' Equity
Common Stock	0.02	0.00	0.00
Retained Earnings	-97.40	-57.04	-41.42
Accumulated Other Comprehensive Income	0.12	0.20	0.36
Additional Paid-in Capital	238.01	2.15	1.33
Shares Outstanding	20.62	20.23	20.23
Total Stockholders' Equity	140.75	20.75	-39.74
Total Liabilities & Equity	169.91	43.08	54.29

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 Balance Sheet

How much debt does Shoulder Innovations have?

Shoulder Innovations had total debt of $14.97M as of Dec 31, 2025, against $124.31M in cash and short-term investments. Its debt-to-equity ratio was 0.11. Total debt was $14.71M a year earlier.

What are Shoulder Innovations's total assets?

Shoulder Innovations reported total assets of $169.91M as of Dec 31, 2025, up 294.4% from $43.08M a year earlier. Total liabilities were $29.16M.

What is Shoulder Innovations's shareholders' equity?

Shoulder Innovations's shareholders' equity was $140.75M as of Dec 31, 2025, or about $6.82 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition