Press release
SI-BONE Reports Preliminary Unaudited Revenue for the Third Quarter 2020 and Provides Full Year 2020 Revenue Guidance
SANTA CLARA, Calif., Oct. 08, 2020 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq:SIBN), a medical device company dedicated to solving musculoskeletal disorders of
About this update from Si-bone, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., Oct. 08, 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 three and nine months ended September 30, 2020.\n Preliminary and unaudited revenue for the three months ended September 30, 2020 is expected to be in the range of $20.1-$20.4 million, reflecting growth of 24%-26% compared to the prior year period. U.S. revenue is expected to be in the range of $18.7-$18.9 million, reflecting growth of 26%-27% compared to the prior year period. International revenue is expected to be in the range of $1.4-$1.5 million. Preliminary and unaudited revenue for the nine months ended September 30, 2020 is expected to be in the range of $51.0-$51.3 million, reflecting growth of approximately 7%-8% over the prior year period. U.S. revenue is expected to be in the range of $47.2-$47.4 million, reflecting growth of approximately 9% compared to the prior year period. International revenue is expected to be in the range of $3.8-$3.9 million. The three and nine months ended September 30, 2020 revenue included in this release are preliminary and prior to the completion of SI-BONE's financial closing procedures and therefore may be subject to adjustment. SI-BONE expects to provide third quarter 2020 financial results during its third quarter 2020 earnings call on November 2, 2020. On October 1, 2020, Anthem published an update to its sacroiliac joint fusion medical policy. This update retained policy language limiting indications for iFuse to cases involving a history of pelvic trauma, similar to earlier versions of the policy, and did not reflect the feedback from specialists Anthem received in mid-2020, or other substantive updates to the evidence base. Anthem has communicated to SI-BONE that this feedback and additional evidence may be taken into consideration in future policy updates in 2021. “We are pleased with the rebound in our business during the third quarter, driven by underlying momentum in our business from a number of catalysts, including better reimbursement coverage and payment rates to surgeons, sales force hiring and investments in surgeon training,” said Jeff Dunn, President, Chief Executive Officer and Chairman of SI-BONE. 2020 Revenue Guidance SI-BONE expec...