Shoulder Innovations (SI) Q3 FY2026 earnings: revenue $16 million, up 37.7% on the year
Shoulder Innovations, Inc. (SI) reported revenue of $16 million for Q3 FY2026, the quarter ended 30 September 2026, up 37.7% on the same quarter a year earlier. Net income was -$7 million, and diluted earnings per share $-0.34. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.
Revenue
$16 million
+37.7% on the year · -5.7% on the quarter
Q3 FY2024Q3 FY2026
Operating margin
-46.9%
-65.0% a year earlier
Q3 FY2024Q3 FY2026
Net income
-$7 million
Q3 FY2024Q3 FY2026
Diluted EPS
-$0.34
Q3 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 raised.
Revenue rose 38% to $16.2 million: Net revenue was $16.2 million, up from $11.8 million a year earlier. Management attributed the increase to more implant systems sold and higher average selling price.
Full-year revenue guidance raised: Full-year 2026 net revenue guidance was raised to $68 million to $70 million, from $67 million to $69 million. Management said it raised full-year guidance again.
Implant system sales rose 34%: The company sold 2,126 total implant systems in the third quarter. Management said volume grew within the existing customer base as well as through new surgeons.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
-6.4
-7.4
-8.6
Capital expenditure
0.6
2.2
2.8
-72.8%
-79.2%
Free cash flow
-7.0
-9.5
-11.4
Free cash flow margin
-43.1%
-55.6%
-96.7%
Cash from investing
18.1
20.4
-72.4
-11.3%
Cash from financing
0.2
-0.1
109
-99.8%
Depreciation
1.1
1.1
0.8
+0.8%
+45.4%
Share-based compensation
1.0
1.1
0.3
-5.8%
+241.6%
Diluted shares, weighted
21m
21m
14m
+0.5%
+53.2%
Shares outstanding at period end
21m
21m
21m
+0.5%
+1.6%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
118
124
148
-4.7%
-19.9%
Redeemable equity
0.0
0.0
0.0
Debt
14.8
14.8
14.8
+0.2%
0.0%
Other liabilities
12.3
12.9
15.1
-4.4%
-18.4%
Total liabilities and equity
146
152
178
-4.2%
-18.1%
Fixed assets
13.8
14.5
10.8
-5.0%
+26.9%
Intangible assets
0.0
0.0
0.2
-92.0%
Investments
55.9
74.5
82.4
-25.0%
-32.1%
Cash and equivalents
36.4
24.5
54.9
+48.9%
-33.7%
Receivables
9.3
10.9
7.1
-14.6%
+31.2%
Inventory
24.4
22.9
19.4
+6.4%
+25.9%
Other assets
5.8
4.7
3.0
+22.6%
+92.0%
Total assets
146
152
178
-4.2%
-18.1%
Questions
What was Shoulder Innovations' revenue in Q3 FY2026?
Shoulder Innovations (SI) reported revenue of $16 million for Q3 FY2026, the quarter ended 30 September 2026, up 37.7% on the same quarter a year earlier.
How much did Shoulder Innovations earn in Q3 FY2026?
Net loss for Q3 FY2026 was $7 million, and the diluted loss per share $0.34.
When did Shoulder Innovations report Q3 FY2026 results?
Shoulder Innovations filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.