SI-BONE Reports Positive Earnings Results for Q2 FY2023
August 17, 2023
☀️Earnings Overview
On August 7 2023, SI-BONE ($NASDAQ:SIBN) revealed their financial results for Q2 of FY2023, which ended June 30 2023. Total revenue for the quarter was USD 33.3 million, a growth of 30.2% from Q2 of the previous year. Net income for this quarter was at USD -11.2 million, showing an improvement from the -18.5 million reported in Q2 of the prior year.
Market Price
On Monday, SI-BONE reported their earnings results for the second quarter of fiscal year 2023. Overall, the results were positive, with stock opening at $23.8 and closing at $23.4, down by 1.5% from the previous closing price of $23.8. The company’s outlook for the remainder of the year remains positive, and management is confident that they can continue to grow their business and deliver strong returns for shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Si-bone. SI-BONE_Reports_Positive_Earnings_Results_for_Q2_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 124.4 | -47.66 | -38.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Si-bone. SI-BONE_Reports_Positive_Earnings_Results_for_Q2_FY2023″>More…
| Operations | Investing | Financing |
| -38.9 | -2.81 | 2.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Si-bone. SI-BONE_Reports_Positive_Earnings_Results_for_Q2_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 233.82 | 56.42 | 4.59 |
Key Ratios Snapshot
Some of the financial key ratios for Si-bone are shown below. SI-BONE_Reports_Positive_Earnings_Results_for_Q2_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.0% | – | -35.6% |
| FCF Margin | ROE | ROA |
| -39.2% | -20.4% | -11.9% |
Analysis
After conducting an analysis of SI-BONE‘s wellbeing, GoodWhale has classified the company as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Such companies may be of interest to investors who prioritize rapid growth over stability, such as venture capitalists or private equity firms. SI-BONE is strong in terms of asset and growth but weaker in terms of dividend and profitability. The company has an intermediate health score of 4/10, indicating that it may be able to sustain future operations in times of crisis. This could be attractive for investors looking for short-term gains, as there is some level of security in the event of a market downturn. More…
Peers
Its competitors are Heart Tronics Inc, ClearPoint Neuro Inc, Vycor Medical Inc.
– Heart Tronics Inc ($OTCPK:HRTT)
Heart Tronics Inc is a medical device company that manufactures and sells cardiac pacemakers and other implantable cardioverter defibrillator devices. As of 2022, the company had a market capitalization of 15.68k and a return on equity of 110.55%. The company’s products are used to treat heart rhythm disorders and are implanted in the chest.
– ClearPoint Neuro Inc ($NASDAQ:CLPT)
ClearPoint Neuro Inc, a medical device company, focuses on developing and commercializing technologies to treat neurological disorders. The company offers NeuroBlate System, a laser ablation system that is used to treat various brain disorders; and ClearVec, a cannula system that is used to deliver drugs or other substances to specific areas of the brain. It has a market cap of 229.59M as of 2022 and a Return on Equity of -23.99%.
– Vycor Medical Inc ($OTCPK:VYCO)
Vycor Medical Inc is a medical device company that develops, manufactures, and markets minimally invasive products to treat neurological conditions. The company has a market cap of 3.24M as of 2022 and a Return on Equity of 8.79%. Vycor Medical’s products are used by neurosurgeons, neurologists, and other physicians to treat conditions such as brain tumors, cerebral aneurysms, and stroke.
Summary
Investors were pleased to see the second quarter earnings report from SI-BONE, as the company reported total revenue of USD 33.3 million, an increase of 30.2% from the same quarter of the previous year. Net income was USD -11.2 million, which is an improvement of -18.5 million from the same quarter in the prior year. This news suggests that SI-BONE is continuing to make progress in its operations, and is on track to reach its long-term goals. The strong revenue growth and improved profits indicate that now may be a good time to consider investing in SI-BONE stock.
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