---
title: "Shoulder Innovations | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 16.71 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286313405.md"
datetime: "2026-05-13T20:32:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286313405.md)
  - [en](https://longbridge.com/en/news/286313405.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286313405.md)
---

# Shoulder Innovations | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 16.71 M

Revenue: As of FY2026 Q1, the actual value is USD 16.71 M, beating the estimate of USD 14.53 M.

EPS: As of FY2026 Q1, the actual value is USD -0.41.

EBIT: As of FY2026 Q1, the actual value is USD -8.815 M.

Shoulder Innovations, Inc. operates as a single reportable segment, focusing on advanced implant systems for shoulder arthroplasty .

#### Operational Metrics

-   **Implant Systems Sold**: The company sold 2,184 implant systems for the three months ended March 31, 2026, an increase from 1,443 systems sold for the three months ended March 31, 2025 .
-   **Average Sales Price**: The average sales price per implant system was $7,650 for the three months ended March 31, 2026, up from $7,022 for the three months ended March 31, 2025 .

#### Financial Performance (Three Months Ended March 31, 2026 vs. 2025)

-   **Net Revenue**: Increased by $6,576 thousand, or 64.9%, to $16,708 thousand in 2026 from $10,132 thousand in 2025 .
-   **Cost of Goods Sold**: Increased by $1,381 thousand, or 59.0%, to $3,722 thousand in 2026 from $2,341 thousand in 2025 .
-   **Gross Profit**: Increased by $5,195 thousand, or 66.7%, to $12,986 thousand in 2026 from $7,791 thousand in 2025 .
-   **Gross Margin**: Increased to 77.7% in 2026 from 76.9% in 2025 .
-   **Selling, General and Administrative Expenses**: Increased by $7,706 thousand, or 73.4%, to $18,208 thousand in 2026 from $10,502 thousand in 2025, primarily due to increases in personnel-related expenses, commissions and sales-related costs, general corporate costs, stock-based compensation expense, and depreciation of surgical instruments .
-   **Research and Development Expenses**: Increased by $2,171 thousand, or 137.1%, to $3,754 thousand in 2026 from $1,583 thousand in 2025, mainly due to increased external consulting fees related to a robotic platform strategic partnership .
-   **Operating Loss**: Increased to - $8,976 thousand in 2026 from - $4,294 thousand in 2025 .
-   **Interest (Income) Expense, Net**: Shifted to an income of $436 thousand in 2026 from an expense of $367 thousand in 2025, a decrease of $803 thousand or 218.8%, due to higher interest earned on marketable securities .
-   **Other (Income) Expense, Net**: Shifted to an income of $161 thousand in 2026 from an expense of $1 thousand in 2025, due to an increase in gain on marketable securities .
-   **Net Loss**: Increased to - $8,379 thousand in 2026 from - $4,662 thousand in 2025 .
-   **Adjusted EBITDA**: Was - $6,957 thousand for the three months ended March 31, 2026, compared to - $3,500 thousand for the same period in 2025 .

#### Cash Flow (Three Months Ended March 31, 2026 vs. 2025)

-   **Net Cash Used in Operating Activities**: Increased to - $12,358 thousand in 2026 from - $6,477 thousand in 2025 .
-   **Net Cash Used in Investing Activities**: Decreased to - $3,122 thousand in 2026 from - $13,070 thousand in 2025 .
-   **Net Cash Provided by Financing Activities**: Decreased to $101 thousand in 2026 from $19,794 thousand in 2025 .

#### Liquidity and Capital Resources

-   **Cash, Cash Equivalents, and Marketable Securities**: Totaled $108,538 thousand as of March 31, 2026 .
-   **Long-Term Debt**: The principal outstanding under the Trinity Loan Agreement was $15,000 thousand as of March 31, 2026 .
-   **Accumulated Deficit**: Was - $105,779 thousand as of March 31, 2026 .

#### Future Outlook and Strategy

The company anticipates continued growth in net revenue driven by expanding its commercial organization, acquiring new customers, expanding sales territories, introducing new products, and increasing utilization of existing systems . Strategic investments will focus on product development, including improving technologies, developing new products, expanding cleared indications, and advancing its robotic platform . Shoulder Innovations, Inc. expects to continue incurring losses and expending significant cash for the foreseeable future as it scales its business, increases selling, general and administrative expenses, and invests in research and development activities .

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