Generates First Quarter Net Revenue Growth of 65% Year-Over-Year
GRAND RAPIDS, Mich., May 13, 2026 /PRNewswire/ — Shoulder Innovations, Inc. (Shoulder Innovations, or the company) (NYSE: SI), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today reported financial results for the first quarter ended March 31, 2026.
First Quarter Financial Highlights
- Generated net revenue of $16.7 million in the first quarter, a 65% increase over the first quarter of 2025
- Achieved gross margin of 77.7% for the first quarter compared to 76.9% for the first quarter of 2025
- Increased average selling price of our implant systems to $7,650 in the first quarter, a 9% increase over the first quarter of 2025
- Increased full year 2026 net revenue guidance to $65 million to $68 million, representing growth of approximately 37% to 44% over full year 2025 net revenue
Recent Business Highlights
- Sold 2,184 total implant systems in the first quarter, a 51% increase over the first quarter of 2025
- Initiated full commercial launch of the InSet™ I-135RFX Humeral Stem following a successful limited user release and FDA clearance of additional fracture indications
- Expanded commercial organization in the first quarter to support increased business scale
“We are very pleased with our first quarter performance, which reflects accelerating revenue growth and intensifying commercial momentum across our entire organization,” said Rob Ball, CEO of Shoulder Innovations. “Net revenue growth of 65%, implant volume growth of 51%, and continued improvement in gross margin demonstrate the strength and efficiency of our rapidly expanding ecosystem.”
Mr. Ball continued, “Building on this traction, recent product portfolio milestones, including the full commercial launch of our InSet™ I-135RFX Humeral Stem, meaningfully extend the comprehensive suite of solutions we offer surgeons and their patients. This disciplined financial and operational execution to start the year provides us with increased confidence in the trajectory of the business and enables us to increase our full year 2026 revenue guidance.”