SI · XBRL financial data

Shoulder Innovations financial statements, every quarter

The same tables from 5 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (SI's year ends in late December)

In thousands of dollars	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Revenue	11,013	11,756	14,416*	16,708	17,175
Cost of goods and services sold	2,620	2,795	3,359*	3,722	3,734
Gross profit	8,393	8,961	11,057*	12,986	13,441
Research and development	1,406	1,525	3,217*	3,754	3,391
Selling, general and administrative	12,849	15,077	16,340*	18,208	20,086
Operating income (loss)	(5,862)	(7,641)	(8,500)*	(8,976)	(10,036)
Interest income	—	—	year only	—	—
Interest expense	216	78	(591)*	(436)	(673)
Other income (expense)	(1,399)	1,207	137*	161	(201)
Income tax expense (benefit)	0	0	0*	0	0
Net income (loss)	(19,196)	(8,729)	(7,772)*	(8,379)	(10,153)
Earnings per share, basic USD per share	(165.53)	(0.64)	—	(0.41)	(0.49)
Earnings per share, diluted USD per share	(165.53)	(0.64)	—	(0.41)	(0.49)
Weighted average shares, basic thousands of shares	116	13,605	—	20,653	20,736
Weighted average shares, diluted thousands of shares	116	13,605	—	20,653	20,736

Fiscal quarters (SI's year ends in late December)

In thousands of dollars	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Cash and cash equivalents	27,054	54,934	26,871	11,492	24,460
Marketable securities	12,581	82,354	97,434	97,046	74,533
Accounts receivable	6,886	7,079	8,268	10,546	10,873
Inventory	17,081	19,358	21,591	21,829	22,920
Total current assets	68,911	166,610	157,165	145,776	137,407
Property and equipment, net	8,506	10,846	12,532	14,470	14,498
Right-of-use asset	162	131	110	90	69
Total assets	77,829	177,762	169,907	160,361	152,007
Accounts payable	6,042	8,877	8,874	5,924	5,931
Accrued liabilities	6,370	6,072	5,259	6,366	6,864
Total current liabilities	12,494	15,019	14,195	12,340	12,832
Long-term debt	14,784	14,848	14,911	14,961	14,813
Total liabilities	29,329	29,930	29,157	27,344	27,679
Accumulated deficit	(80,899)	(89,628)	(97,400)	(105,779)	(115,932)
Total stockholders' equity	(78,200)	147,832	140,750	133,017	124,328
Total liabilities and equity	77,829	177,762	169,907	160,361	152,007
Common shares outstanding (cover page) thousands of shares	20,360	20,602	20,648	20,738	20,819

Fiscal quarters (SI's year ends in late December)

In thousands of dollars	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Net income (loss)	(19,196)	(8,729)	(7,772)*	(8,379)	(10,153)
Stock-based compensation	190*	298*	381*	726	1,081*
Net cash from operating activities	(4,797)*	(8,555)*	(8,783)*	(12,358)	(7,392)*
Purchases of property and equipment	1,468*	2,815*	2,282*	2,735	2,157*
Net cash from investing activities	7,191*	(72,436)*	(17,282)*	(3,122)	20,444*
Net cash from financing activities	18,290*	108,871*	(1,998)*	101	(84)*

SIC 3841 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 3841 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($K)	Revenue, quarter ($K)	Operating cash flow, quarter ($K)	Shares outstanding	Runway	Quarter
Shoulder Innovations	24,460	17,175	(7,392)*	20.8M	13.4 quarters	Q2 FY26 10-QJun 30, 2026
Alpha Pro Tech	18,901	not reported	2,213*	10.2M	—	Q2 FY26 10-QJun 30, 2026
CVRx	64,586	15,705	(8,826)*	26.6M	7.3 quarters	Q2 FY26 10-QJun 30, 2026
Carlsmed	46,244	not reported	(7,358)*	27.3M	9.5 quarters	Q2 FY26 10-QJun 30, 2026
TELA Bio	30,424	19,291	(9,381)*	44.9M	3.2 quarters	Q2 FY26 10-QJun 30, 2026
LENSAR	13,565	16,495	(127)*	12.3M	106.8 quarters	Q2 FY26 10-QJun 30, 2026
Pro Dex	11,759	20,560	6,490	3.2M	—	Q1 FY27 10-QSep 30, 2026
SS Innovations International	13,647	not reported	(4,235)*	200.4M	3.2 quarters	Q2 FY26 10-QJun 30, 2026
Apyx Medical	27,617	13,884	(3,490)*	42.1M	7.9 quarters	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.