Press release
SI-BONE Reports Preliminary Unaudited Revenue for Fourth Quarter and Full Year 2019 and Provides Full Year 2020 Revenue Guidance
SANTA CLARA, Calif., Jan. 09, 2020 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving musculoskeletal disorders
About this update from Si-bone, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., Jan. 09, 2020 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today announced preliminary unaudited revenue for the fourth quarter and full year 2019.\n Preliminary and unaudited revenue for fourth quarter 2019 is expected to be in the range of $19.5-$19.8 million, reflecting growth of 25-27% compared to the prior year period. U.S. revenue is expected to be in the range of $18.3-$18.5 million, reflecting growth of 27-28% compared to the prior year period. International revenue is expected to be in the range of $1.2-$1.3 million. Preliminary and unaudited revenue for full year 2019 is expected to be in the range of $67.0-$67.3 million, reflecting growth of approximately 21% over full year 2018. U.S. revenue is expected to be in the range of $61.6-$61.8 million, reflecting growth of approximately 23% compared to the prior year period. International revenue is expected to be in the range of $5.4-$5.5 million. “We are pleased with our strong revenue performance in the fourth quarter, resulting from U.S. investments in sales force hiring and surgeon training throughout the year,” said Jeff Dunn, President, Chief Executive Officer, and Chairman of SI-BONE. “In addition, major U.S. commercial payors like Cigna continue to establish positive coverage policies for minimally invasive SI joint fusion based upon the strength of our clinical data, totaling over 282 million covered lives in the U.S. as of year-end. We are well positioned to deliver continued U.S. growth based upon execution of our commercial strategy while making improvements to our international business.” The fourth quarter and full year 2019 revenue included in this release are preliminary and prior to the completion of SI-BONE's financial closing procedures and audit procedures by its external auditors and therefore may be subject to adjustment. SI-BONE expects to provide fourth quarter and full year 2019 financial results during its fourth quarter 2019 earnings call in March 2020. 2020 Financial Guidance SI-BONE expects full year 2020 revenue to be in the range of $80-$82 million, representing growth of approximately 19-22% over preliminary and unaudited full year 2019 revenue. About SI-BONE SI-BONE is a medical device company that pioneered minimall...