Si-bone Stock Fair Value – SI-BONE Reports 30.2% Revenue Increase for Q2 2023 with USD 33.3 Million Total Earnings
August 10, 2023
☀️Earnings Overview
For the second quarter ending June 30 2023, SI-BONE ($NASDAQ:SIBN) reported total revenue of $33.3 million – a 30.2% year-over-year increase. Net income for the same quarter was -$11.2 million, a significant improvement compared to the previous year’s loss of -$18.5 million. The fiscal year 2023 second quarter results were released on August 7 2023.
Analysis – Si-bone Stock Fair Value
GoodWhale has conducted a thorough analysis of SI-BONE‘s wellbeing. Using our proprietary Valuation Line, we have determined that SI-BONE’s fair value is around $24.7. At the time of writing, SI-BONE stock is being traded at $23.4 – despite its true value being 5.4% greater than the current price. This suggests that SI-BONE is being undervalued at the moment and may provide a good investment opportunity for those considering buying in. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Si-bone. More…
| Total Revenues | Net Income | Net Margin |
| 124.4 | -47.66 | -38.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Si-bone. More…
| Operations | Investing | Financing |
| -38.9 | -2.81 | 2.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Si-bone. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 233.82 | 56.42 | 4.59 |
Key Ratios Snapshot
Some of the financial key ratios for Si-bone are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.0% | – | -35.6% |
| FCF Margin | ROE | ROA |
| -39.2% | -20.4% | -11.9% |
Peers
Its competitors are Heart Tronics Inc, ClearPoint Neuro Inc, Vycor Medical Inc.
– Heart Tronics Inc ($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
SI-BONE reported an impressive 30.2% year-over-year increase in total revenue for the second quarter of FY2023, reaching USD 33.3 million. This was accompanied by a net income of -11.2 million, significantly narrowed from its -18.5 million loss from the corresponding period in the previous year. This strong performance suggests that SI-BONE is recovering from its earlier financial woes and is now on a path of growth and recovery, making it an attractive investment opportunity.
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