SI-Bone sees 10% revenue growth in Q1

Spinal Tech

SI-Bone on May 9 posted $22.4 million in first-quarter 2022 sales, a 10 percent increase year over year.

Four things to know:

1. The company's U.S. revenue was $20.4 million in the first quarter, a 9 percent increase from the same time in 2021, according to a May 9 news release.

2. Milestones for SI-Bone in the first quarter include a new technology add-on payment proposed by CMS and breakthrough device designation for the iFuse Bedrock Granite.

3. The company's U.S. commercial organization was expanded to 18 sales regions.

4. SI-Bone saw a gross margin of 87 percent in the first quarter. It was affected by lower average selling prices and an increase in operational costs, the release said.

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