SI-Bone sees 'year of records' in 2023

Spinal Tech

Spine devicemaker SI-Bone saw $138.9 million in revenue in 2023, the company said Feb. 26.

Full-year sales rose 31% compared to 2022, and fourth quarter sales of $38.9 million represent a 22% year-over-year increase, according to a news release. More than 1,600 physicians performed more than 15,000 procedures in the U.S. in 2023. For the fourth quarter of 2023, there were more than 1,130 active physicians using SI-Bone's products, an increase of 22% year over year.

"2023 was a year of records for us, as our annual worldwide revenue growth exceeded 30%, led by over 32% procedure volume growth in the U.S.," CEO Laura Francis said in the release. "I am proud of our team’s stellar execution as we supported a record 1,600 U.S. physicians to help improve the lives of nearly 15,000 patients in the U.S., while driving substantial operating leverage and reduction in cash usage."

The company expects to see 2024 revenues of $162 million to $165 million.

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