US medical-device company SI-BONE grew third-quarter revenue to 55.7 million dollars and narrowed its net loss to 3.6 million dollars. US procedure volume rose faster than revenue as average selling prices declined with the mix of procedures and treatment settings. Management kept annual revenue guidance at 231–233 million dollars while reducing its expected operating-expense growth.
US medical-device company SI-BONE increased revenue to 55.7 million dollars in the third quarter ended September 30, from 48.7 million dollars a year earlier. Its November 2 results showed a loss per share of 0.08 dollars. US procedure volume grew 19.5 per cent; management attributed lower average selling prices to the mix of procedures and treatment settings.[1], [2]
Gross profit rose from 38.8 million dollars to 44.2 million dollars, although gross margin slipped from 79.8 per cent to 79.3 per cent. Operating expenses increased 9.7 per cent to 48.5 million dollars. The operating loss narrowed from 5.4 million dollars to 4.4 million dollars, and net loss fell from 4.6 million dollars to 3.6 million dollars.[1]
Management maintained annual revenue guidance of 231–233 million dollars and a gross-margin expectation of about 79 per cent. At the revenue midpoint, expected operating-expense growth was reduced from 12 per cent to 10.5 per cent. Quarterly operating cash flow reached 5.9 million dollars. Cash holdings increased from 145.9 million dollars at June-end to 146.3 million dollars at September-end.[1]
