Announcement • Jul 15
Shoulder Innovations, Inc. to Report Q2, 2026 Results on Aug 06, 2026 Shoulder Innovations, Inc. announced that they will report Q2, 2026 results After-Market on Aug 06, 2026 New Risk • Jul 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$28m net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Recent Insider Transactions Derivative • Jun 14
COO & Director notifies of intention to sell stock Matthew Ahearn intends to sell 20k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of June. If the sale is conducted around the recent share price of US$18.76, it would amount to US$375k. Since June 2025, Matthew's direct individual holding has increased from 2.14k shares to 289.18k. Company insiders have collectively bought US$938k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • May 15
Shoulder Innovations, Inc. Increases Revenue Guidance for the Full Year 2026 Shoulder Innovations, Inc. increased revenue guidance for the full year 2026. The company expected net revenue for the full year 2026 to be in the range of $65 million to $68 million, representing growth of approximately 37% to 44% over full year 2025 net revenue. This compares to prior guidance of $62 million to $65 million, representing growth of approximately 31% to 37% over full year 2025 net revenue. Reported Earnings • May 14
First quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2026 results: US$0.41 loss per share. Revenue: US$16.7m (up 65% from 1Q 2025). Net loss: US$8.38m (loss widened 80% from 1Q 2025). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Medical Equipment industry in the US. Announcement • May 02
Shoulder Innovations, Inc., Annual General Meeting, Jun 26, 2026 Shoulder Innovations, Inc., Annual General Meeting, Jun 26, 2026. Announcement • Apr 29
Shoulder Innovations Initiates Full Commercial Launch Of The Inset I-135rfx Humeral Stem Shoulder Innovations, Inc. (Shoulder Innovations, or the Company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, announced full commercial launch of the InSet I-135RFX Humeral Stem ("InSet I-135RFX"). The commencement of full launch follows a successful limited market release and receipt of additional FDA 510(k) clearance for an expanded set of fracture indications, enabling the InSet I-135RFX to now be utilized in all primary, revision, and fracture total shoulder arthroplasty procedures. The InSet I-135RFX joins the smaller form factor InSet 95 and InSet 70, launched in 2024 and 2025, respectively, as the third addition to the I-Series humeral stem product line. Consistent with these earlier products, the InSet I-135RFX is built on Shoulder Innovations' exclusive InSet lateral-lateral implant philosophy, which has been shown in independent, peer reviewed research to reduce complications and maximize post-operative range of motion. To date, surgeons have utilized the InSet I-135RFX in both anatomic and reverse shoulder arthroplasty configurations and specifically value its ease of use, straightforward surgical technique, and seamless integration with Shoulder Innovations' two-tray surgical instrumentation system. Recent Insider Transactions Derivative • Apr 28
COO & Director exercised options to buy US$277k worth of stock. On the 20th of April, Matthew Ahearn exercised options to buy 22k shares at a strike price of around US$2.73, costing a total of US$59k. This transaction amounted to 8.2% of their direct individual holding at the time of the trade. Since June 2025, Matthew's direct individual holding has increased from 2.14k shares to 215.86k. Company insiders have collectively bought US$938k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 23
Shoulder Innovations, Inc. to Report Q1, 2026 Results on May 13, 2026 Shoulder Innovations, Inc. announced that they will report Q1, 2026 results After-Market on May 13, 2026 Major Estimate Revision • Mar 17
Consensus EPS estimates fall by 23%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$58.8m to US$64.1m. Forecast EPS reduced from -US$1.33 to -US$1.63 per share. Medical Equipment industry in the US expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at US$21.00. Share price rose 16% to US$15.12 over the past week. Reported Earnings • Mar 11
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: US$4.65 loss per share. Revenue: US$47.3m (up 50% from FY 2024). Net loss: US$40.4m (loss widened 158% from FY 2024). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 122%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Medical Equipment industry in the US. Announcement • Mar 11
Shoulder Innovations, Inc. Provides Earnings Guidance for the Full Year 2026 Shoulder Innovations, Inc. provided earnings guidance for the full year 2026. For the year, the company expects net revenue for the full year 2026 to be in the range of $62 million to $65 million, representing growth of approximately 31% to 37% over full year 2025 net revenue. Announcement • Mar 03
Shoulder Innovations, Inc. Announces Board Changes Shoulder Innovations, Inc. announced the appointment of Drew Hykes to the company's Board of Directors and as a member of the Compensation Committee, effective February 26, 2026. Concurrent with Mr. Hykes's appointment, Geoff Pardo will resign as an Independent Director from the Board. Mr. Hykes is a seasoned medical device executive with more than 25 years of operating experience. He currently serves as President and Chief Executive Officer of Okami Medical, a privately held medical technology company pioneering novel vascular embolization solutions. He joined Okami Medical following nearly 8 years at Inari Medical, having served most recently as Chief Executive Officer from 2023 until Inari's acquisition by Stryker Corporation in 2025. He also held the roles of Chief Operating Officer and Chief Commercial Officer during his tenure at Inari Medical. Prior, he served as Vice President of Commercial Operations at Sequent Medical, where he led the commercialization strategy for the WEB Aneurysm Embolization system from early prototype to broad adoption in the European market, before Sequent's acquisition by Terumo Corporation. Earlier in his career, Mr. Hykes spent 11 years at Medtronic where he held multiple roles of increasing responsibility across various business units, including Vice President of Clinical and Regulatory Affairs, Vice President of Marketing, and Director of Investor Relations. Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Director Rick Buchholz was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 13
Shoulder Innovations, Inc. to Report Q4, 2025 Results on Mar 10, 2026 Shoulder Innovations, Inc. announced that they will report Q4, 2025 results After-Market on Mar 10, 2026 Recent Insider Transactions • Dec 18
Executive Chairman recently bought US$107k worth of stock On the 12th of December, Robert Ball bought around 7k shares on-market at roughly US$14.86 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of US$230k worth in shares. Reported Earnings • Nov 12
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: US$0.64 loss per share. Net loss: US$8.73m (flat on 3Q 2024). Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 71%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Medical Equipment industry in the US. Announcement • Nov 12
Shoulder Innovations, Inc. Increases Revenue Guidance for the Year 2025 Shoulder Innovations, Inc. increased revenue guidance for the year 2025. The company expects revenue for the full year 2025 to be in the range of $45 million to $46 million, representing growth of approximately 42% to 45% over full year 2024 revenue. This compares to prior guidance of $42 million to $44 million, representing growth of approximately 33% to 39% over full year 2024 revenue. Announcement • Oct 21
Shoulder Innovations, Inc. to Report Q3, 2025 Results on Nov 11, 2025 Shoulder Innovations, Inc. announced that they will report Q3, 2025 results After-Market on Nov 11, 2025 Announcement • Sep 22
Shoulder Innovations, Inc. Announces Full Commercial Launch of the InSet™ 70 Humeral Stem Shoulder Innovations, Inc. announced the full commercial launch of the InSet™? 70 Humeral Stem ("InSet™? 70"). The introduction of the InSet™?70 represents an expansion of the company's I-Series humeral stem product line, which first launched with the InSet™? 95 humeral stem in 2024. This expansion of the I-Series Humeral Stem product line further strengthens a robust Shoulder Arthroplasty portfolio. Indicated for use in both anatomic and reverse shoulder arthroplasty, the InSet™? 70 addresses a broad range of clinical needs, including non-inflammatory degenerative joint disease such as osteoarthritis and avascularnecrosis, rheumatoid and traumatic arthritis, and correction of functional deformity. In reverse procedures, it is further indicated for irreparable cuff tears with or without arthritis, as well as for revision of other devices when sufficient bone stock remains. Recent Insider Transactions • Sep 16
Executive Chairman recently bought US$123k worth of stock On the 12th of September, Robert Ball bought around 8k shares on-market at roughly US$15.34 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Reported Earnings • Sep 11
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: US$166 loss per share. Net loss: US$19.2m (flat on 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US. Announcement • Aug 29
Shoulder Innovations, Inc. to Report Q2, 2025 Results on Sep 09, 2025 Shoulder Innovations, Inc. announced that they will report Q2, 2025 results Pre-Market on Sep 09, 2025 New Risk • Aug 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$21m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$21m free cash flow). Shares are highly illiquid. Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$27m net loss in 3 years). New Risk • Aug 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings are forecast to decline by an average of 6.6% per year for the foreseeable future. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$27m net loss in 3 years). Announcement • Jul 31
Shoulder Innovations, Inc. has completed an IPO in the amount of $75 million. Shoulder Innovations, Inc. has completed an IPO in the amount of $75 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,000,000
Price\Range: $15
Transaction Features: Reserved Share Offering; Sponsor Backed Offering 
