Revenue: As of FY2025 Q3, the actual value is USD 11.76 M.EPS: As of FY2025 Q3, the actual value is USD -0.64.EBIT: As of FY2025 Q3, the actual value is USD -7.563 M.<h4>Segment Revenue</h4>Shoulder Innovations, Inc. reported net revenue of $11.8 million for the third quarter of 2025, marking a 58% increase compared to $7.5 million in the third quarter of 2024.<h4>Operational Metrics</h4>Gross margin for the third quarter of 2025 was 76.2%, slightly down from 76.5% in the third quarter of 2024. Selling, general, and administrative expenses increased by 78% to $15.1 million in the third quarter of 2025, compared to $8.5 million in the same period of 2024. Research and development expenses rose by 40% to $1.5 million in the third quarter of 2025, up from $1.1 million in the third quarter of 2024. Operating loss for the third quarter of 2025 was - $7.6 million, compared to - $3.9 million in the third quarter of 2024. Net loss for the third quarter of 2025 was - $8.7 million, compared to - $4.1 million in the third quarter of 2024. Adjusted EBITDA was a loss of - $7.5 million in the third quarter of 2025, compared to a loss of - $2.9 million in the third quarter of 2024.<h4>Cash Flow</h4>As of September 30, 2025, cash and cash equivalents, and marketable securities totaled $137 million, which includes approximately $115 million of gross proceeds from the issuance of convertible notes and the initial public offering.<h4>Unique Metrics</h4>Shoulder Innovations sold 1,584 total implant systems in the third quarter of 2025, a 53% increase over the prior year quarter.<h4>Outlook / Guidance</h4>Shoulder Innovations has increased its full-year revenue guidance for 2025 to be in the range of $45 million to $46 million, representing growth of approximately 42% to 45% over full-year 2024 revenue. The company plans to initiate a limited market release of new products in early 2026, with expectations for significant investments in the sales force to drive growth. New product launches are expected to have a higher ASP and margin profile, contributing positively to gross margin.

Shoulder Innovations | 8-K: FY2025 Q3 Revenue: USD 11.76 M