SI-BONE reports $3.62 million net loss for Q3 2026

Item 6.

Exhibits

34

SIGNATURES

35

1

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements. All statements other than statements of historical facts contained in this Quarterly Report, including statements regarding our future results of operations and financial position, business strategy, prospective products and product candidates, sales force expansion, physician adoption, reimbursement determinations, clinical trial results, government shutdown, and U.S. Food and Drug Administration ("FDA") approvals, are forward-looking statements.

These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements speak only as of the date of this Quarterly Report and are subject to a number of risks, uncertainties and assumptions, including those described under the sections in this Quarterly Report titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." These forward-looking statements include, but are not limited to, statements about the following:¹

• our expectation that a significant portion of our revenues will be derived from sales of similar products addressing the spinopelvic anatomy;¹

• our ability to develop and commercialize additional revenue opportunities, including new indications for use and new products;¹

• our ability to retain and grow our sales team, including our third-party sales agents, based on the demand for our products;¹

• our ability to identify, train, and retain physicians to perform procedures using our products;¹

• our ability to obtain and maintain favorable coverage and reimbursement determinations from third-party payors;¹

• our estimates of our market opportunity;

• our expectations regarding the scope of protection from intellectual property rights covering our products;

• developments or disputes concerning our intellectual property or other proprietary rights;

• timing of and results from our clinical trials and other studies;

• marketing clearances and authorization from the FDA and regulators in other jurisdictions and CE Certificates of Conformity from Notified Bodies;

• timing of regulatory filings and feedback;

• competition in the markets we serve;

• our expectations of the reliability and performance of our products;

• our expectations of the benefits of our products to patients, providers, and payors;

• the impact of enacted or proposed tariffs on our business, including the impact on gross margins related to our international product sales and the impact of resulting economic uncertainty on demand for our products;

• factors impacting the supply chains we rely on, including tariffs and the availability of raw materials and skilled labor serving our suppliers, and the cost of these factors of production which may in turn impact the prices we pay for our devices;

• our reliance on a limited number of suppliers, including sole source suppliers, which may impact the availability of instruments and materials;

• our ability to sustain or increase demand for our products;

• our estimates regarding our costs and risks associated with our international operations and expansion;

• our ability to attract and retain key personnel and other employees, including those with specialized skills and experience;

• our expectations regarding acquisitions and strategic operations;

• our ability to access capital markets;

• our ability to fund our working capital requirements;

2

• our compliance with, and the cost of, federal, state, and foreign regulatory requirements;

• the factors that may impact our financial results; and

• anticipated trends and challenges in our business and the markets in which we operate.

Forward-looking statements are based on management's current expectations, estimates, forecasts, and projections about our business and the industry in which we operate, and management's beliefs and assumptions are not guarantees of future performance or development and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking statements in this report may turn out to be inaccurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under "Risk Factors" in o

Item 1. Financial Statements

SI-BONE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)

September 30, 2026 December 31, 2025

ASSETS

Current assets:

Accounts receivable, net of allowance for credit losses of $ 626 and $ 1,013 , respectively

Prepaid expenses and other current assets 4,567 4,480

Operating lease right-of-use assets 6,613 1,087

Other non-current assets 204 55

TOTAL ASSETS $ 256,771 $ 238,555⁴ LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Operating lease liabilities, current portion 331 944

Operating lease liabilities, net of current portion 6,813 175

TOTAL LIABILITIES 72,089 61,023

Commitments and contingencies (Note 6)

STOCKHOLDERS' EQUITY

Preferred stock, $ 0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding

— —

Additional paid-in capital

646,696 626,970

Accumulated other comprehensive income

282 816

Accumulated deficit

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

SI-BONE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

(Unaudited)

Three Months Ended

September 30, Nine Months Ended

September 30,

2026 2025 2026 2025

Revenue²

$ 55,704² $ 48,656 $ 164,302 $ 144,576

Cost of goods sold

Total operating expenses

48,518 44,229 144,909 135,215

Loss from operations

Net loss³

Comprehensive loss

$ ( 3,725 ) $ ( 4,454 ) $ ( 12,576 ) $ ( 16,732 )

Net loss per share, basic and diluted

$ ( 0.08 ) $ ( 0.11 ) $ ( 0.27 ) $ ( 0.40 )

Weighted-average number of common shares used to compute basic and diluted net loss per share

44,899,517 43,188,524 44,451,298 42,775,206

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

SI-BONE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(In thousands, except share amounts)

(Unaudited)

Common Stock Additional

Paid-in

Capital

Accumulated

Other

Comprehensive

Income

Accumulated

Deficit

Total

Stockholders' Equity

Shares Amount

Issuance of common stock upon vesting of restricted stock units 546,996 — — — — —

Net unrealized loss on marketable securities

Issuance of common stock upon vesting of restricted stock units 297,411 — — — — —

Net unrealized loss on marketable securities

Issuance of common stock upon vesting of restricted stock units 229,147 — — — — —

Issuance of common stock upon exercise of warrant, net of shares withheld

2,720 — — — — —

Net unrealized loss on marketable securities — — — ( 55 ) — ( 55 )

6

Common Stock Additional

Paid-in

Capital

Accumulated

Other

Comprehensive

Income

Accumulated

Deficit

Total

Stockholders' Equity

Shares Amount

Issuance of common stock upon vesting of restricted stock units 373,078 — — — — —

Net unrealized loss on marketable securities

Issuance of common stock upon vesting of restricted stock uni