Si-Bone (Nasdaq:SIBN) this week announced preliminary fourth-quarter results that exceeded expectations on Wall Street.
The Santa Clara, California-based orthopedic device company expects worldwide revenue to be in the range of $31.7-$31.9 million for Q4 2022. The sales represent a 26% growth year-over-year.
For the full year 2022, Si-Bone anticipates reporting worldwide revenue in the range of $106.1-$106.3 million, according to a news release. That’s 18% higher compared to FY 2021,
The Q4 revenues would top the consensus on Wall Street, where analysts are looking for sales of $30.31 million.
Si-Bone develops technology for the surgical treatment of musculoskeletal disorders of the sacropelvic anatomy. The company says health providers have used its iFuse implant system in more than 75,000 procedures. The iFuse system is for minimally invasive surgery of the SI joint.
Shares in SIBN were down slightly to $15.81 apiece in mid-morning trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose more than 8%.
Si-Bone plans to announce its Q4 earnings next month.