The medical device maker posted a satisfying beat-and-raise third quarter.
During the period, it managed to narrow its net loss considerably.
Highly specialized medical device company SI-Bone (NASDAQ: SIBN) was looking rather special on the stock market Tuesday. Its shares were flying nearly 18% higher in mid-session action, thanks in large part to an earnings report that featured better-than-expected fundamentals. SI-Bone's rise was well higher than the S&P 500's (SNPINDEX: ^GSPC) 0.3% bump higher at that time.
SI-Bone took the wraps off its third-quarter numbers just after market close on Monday, divulging that its revenue was $48.7 million for the period. That represented a very healthy year-over-year increase of almost 21%.
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And although the company posted a net loss of $4.6 million ($0.11 per share) according to generally accepted accounting principles (GAAP), it was narrower than the $6.6 million deficit in the year-ago quarter.
With those figures, SI-Bone edged past the average analyst estimates. These were for revenue of just under $46.7 million, and GAAP net loss of $0.17 per share.
In its earnings release, SI-Bone attributed the improved fundamentals mainly to higher procedure volume. This was aided significantly by a record increase in the number of physicians utilizing the company's wares -- specifically, this metric rose by 27% year over year to 1,530 professionals.
Investors were also cheered by SI-Bone's raised guidance for the entirety of 2025. The company's top-line projection received a slight lift; it now stands at $198 million to $200 million for the year, representing growth of at least 18% over the 2024 result.
Non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) should be positive. The company did not get more specific. It also didn't provide any bottom-line guidance.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.