Slide 1: SI-BONE Corporate Overview
SI-BONE Corporate Overview February 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements The statements in this presentation regarding expectations of future events or results, including SI-BONE’s expectations of continued revenue and procedure growth and financial outlook, are “forward-looking” statements. These forward-looking statements are based on SI-BONE
Slide 3: Business Update
Business Update
Slide 4: Recent Highlights – Record Performance
Recent Highlights – Record Performance Fourth Quarter 2025 Positive Full Year AEBITDA • 15.0% worldwide revenue growth to $56.3 million 9% AEBITDA Margin in 4Q • 13.9% U.S. revenue growth to $53.5 million • 1,640 U.S. active physicians Generated Free Cash Flow in 4Q • $5.1 million in positive AEBITD
Slide 5: Strong Demand Drove Record Revenue in 2025
Strong Demand Drove Record Revenue in 2025 WW REVENUE ($M) 2025 WW REVENUE ($M) 2025 U.S. Revenue ($M) $56.3 $200.9 $53.5 ~20% $48.6 $48.7 $167.2 $47.3 $46.4 $46.4 $44.8 FY24 FY25 1Q25 2Q25 3Q25 4Q25 1Q25 2Q25 3Q25 4Q25 Note: As of December 31, 2025 5
Slide 6: Record Physician Engagement Driving Procedure Demand
Record Physician Engagement Driving Procedure Demand U.S. ACTIVE PHYSICIAN BASE U.S. 4Q PROCEDURE VOLUME 1,640 6,100 18% 15% 5 consecutive years of double-digit U.S. 1,390 active physician growth every quarter 5,300 Broad-based volume growth across all procedure types 4Q24 4Q25 4Q24 4Q25 Note: As of
Slide 7: Strong Revenue Growth Driving Operating Leverage
Strong Revenue Growth Driving Operating Leverage ADJUSTED EBITDA ($M) $5.1 Achieved positive AEBITDA for 2025 Entering 2026 with strong liquidity $2.3 ▪ Generated $2.1 million in cash and equivalents in 4Q $1.9 ▪ $147.8 million in cash and equivalents $1.0 $0.5 4Q24 1Q25 2Q25 3Q25 4Q25 Note: As of D
Slide 8: Long-Term Business Drivers
Long-Term Business Drivers Platform Set-up to Deliver Strong Revenue Growth and Operating Leverage Innovation Accelerate penetration of iFuse Bedrock Granite in adult deformity & degeneration market Build differentiated portfolio Build pelvic trauma with iFuse TORQ TNT & interventional market with i
Slide 9: 2026 WW Revenue Guidance ($M)
2026 WW Revenue Guidance ($M) $228.5 - $232.5 $200.9 Guidance FY26 $167.2 Revenue $228.5 - $232.5 million $138.9 Revenue growth (y/y) ~14% - 16% (implied) Gross Margin ~78% Operating Expenses ~12.5% (at mid-point of guidance) 2023 2024 2025 2026 Note: As of February 23,2026 9
Slide 10: Differentiated Portfolio Complemented By Strong Fundamentals
Differentiated Portfolio Complemented By Strong Fundamentals Robust Data 180+ published papers 4 Randomized Controlled Trials Reimbursement Advantage TPT for iFuse Bedrock Granite NTAP for iFuse TORQ TNT Large, Underpenetrated Markets 470,000 annual target procedures, for a total annual opportunity
Slide 11: Leadership Updates in Support of Our Strategy
Leadership Updates in Support of Our Strategy Anshul Maheshwari Nikolas Kerr Jeff Zigler Chief Operating Officer Chief Commercial Officer SVP of Market Access & & Chief Financial Officer Reimbursement
Slide 12: Company Overview
Company Overview
Slide 13: Market Leading Platform For Compromised Bone Procedural Solutions
Market Leading Platform For Compromised Bone Procedural Solutions Innovation Evidence Education Commercialization 3 Breakthrough Designated Devices 4 Randomized Controlled Trials 1-4 1,640 Active US Physicians 6,7 89 Territory Managers 72 WW Patents 180+ Peer-reviewed Publications 5 140,000+ Procedu
Slide 14: Large Addressable Markets with Attractive Fundamentals
Large Addressable Markets with Attractive Fundamentals Pelvic Trauma 5 60,000 $0.3 Billion ~470,000 Sacropelvic Fixation Target U.S. Annual 130,000 $1.0 Billion Adult Deformity 3 + Degenerative Spine 4 Procedures 1 > $3.5 Billion Total U.S. Addressable Market 1 SI Joint Dysfunction 2 280,000 $2.4 Bi
Slide 15: Three Large Unmet Clinical Needs in Sacropelvic Conditions
Three Large Unmet Clinical Needs in Sacropelvic Conditions SI Joint Dysfunction Pelvic Trauma Spinopelvic Fixation 15-30% Chronic LBP is SI Joint1-5 Older Population Fragility FXs Increasing11-13 24% Rate of Pelvic Fixation Failure in ASD Surgery19 ~40% Symptomatic Post Lumbar Fusion6-9 78% of Insuf
Slide 16: Innovation Driven Differentiated Platform
Innovation Driven Differentiated Platform iFuse INTRA® & INTRA X® iFuse TORQ® iFuse 3D iFuse Bedrock Granite® iFuse INTRA Ti iFuse TORQ TNT iFuse Intra-articular Cutting-Edge Pelvic Fixation Market Leader in Breakthrough Fixation, Stabilization & Fusion & Fusion; and Fragility Fractures SI Joint Fus
Slide 17: Patent Protected Differentiated Platform
Patent Protected Differentiated Platform ▪ 72 issued patents: U.S. (49), OUS (23) ▪ 47 pending patents: U.S. (24), OUS (23) INSTRUMENT 3-D TECHNOLOGY ▪ iFuse 3D implant patents until Sept 2035 ▪ Triangular broach instrument patent until Feb 2034 Triangular broach instrument and Rectilinear profile,
Slide 18: Portfolio Overview
Portfolio Overview
Slide 19: Sacroiliac Joint Dysfunction Treatments
Sacroiliac Joint Dysfunction Treatments Non-surgical Management Procedures Medications External Radiofrequency (NSAIDS, Support Ablation opiates, etc.) (SI Joint Belt) Physical Therapeutic Bone Allograft MIS Therapy SI Joint SI Joint SI Joint Fusion Injections Stabilization (anesthetic & & Fusion st
Slide 20: iFuse INTRA Ti: Intra-Articular Titanium Implant
iFuse INTRA Ti : Intra-Articular Titanium Implant Differentiated Technology Intra-articular Placement iFuse Lattice Technology Fenestrations Cutting Blades Large, Adjacent Market Competitive Advantages Access/Reimbursement Cortical Piercing FDA Cleared: February 2026 Addresses large Interventional P
Slide 21: Proprietary, Differentiated iFuse Technology
REPRESENTATIVE COMPETITOR Proprietary, Differentiated iFuse Technology ® TPS-COATED iFUSE Rotation 6x resistance (vs. 12mm Rialto screw)1 ► Proven triangular design and procedure CANCELLOUS BONE Strength 3x strength (vs. stand 8.0mm cannulated screw)2 ► Porous, 3D-printed Safety Low complicati
Slide 22: SALLY Prospective Clinical Trial: iFuse 3D 5-year Outcomes
SALLY Prospective Clinical Trial: iFuse 3D 5-year Outcomes1 Rapid, marked and durable improvements in pain, patient function and quality of life VAS Pain Reduction 58-point improvement (MCID 20 points) ODI Disability Improvement 25-point improvement (MCID 15 points) Decreased Opioid Use 57% at basel
Slide 23: iFuse TORQ: Cutting-Edge Pelvic Fixation and Fusion
iFuse TORQ®: Cutting-Edge Pelvic Fixation and Fusion Large, Adjacent Differentiated Competitive Market 1 Technology Advantages >$300 million Pelvic Trauma FuSIon 3D Surface for TORQLock Threads2 opportunity Osseointegration 10x rotational resistance on insertion vs. trauma screws ~120K Sacral Fragil
Slide 24: iFuse TORQ TNT: Pelvic Bone Density-Driven Design
iFuse TORQ TNT : Pelvic Bone Density-Driven Design FDA Clearance September 2024 • Through ‘N Through (“TNT”)1 • FDA Breakthrough Device Designation2 • Pelvic fragility fracture fixation • Pelvic-specific 8.7mm diameter • 3D-printed porous lattice surface designed for osseointegration CMS FY2026 IPPS
Slide 25: iFuse Bedrock Granite: Fixation. Fusion. Foundation.
iFuse Bedrock Granite®: Fixation. Fusion. Foundation. Differentiated Technology Microporous Lattice Surfaces Macroporous Fenestrations OMNICapture Tulip & Set Screw EZDrive® Tip IntelliHarvest® Cutting Flutes Large, Adjacent Market Competitive Advantages ~$1 billion Adult Spinal Deformity and Degene
Slide 26: iFuse Bedrock Granite – 9.5mm Diameter Implant
iFuse Bedrock Granite® – 9.5mm Diameter Implant FDA Clearance January 2024 • Line extension of our breakthrough implant • Smaller diameter (9.5mm) • 3D-printed lattice & surface technology • Additional application for use in S1 trajectory and pediatric deformity1 1. 510(k) Clearance – K233508 (Jan 2
Slide 27: Disclosures
Disclosures Disclosure The iFuse Bedrock Granite® Implant System is intended for sacroiliac joint fusion in skeletally mature patients for the following conditions: • Sacroiliac joint dysfunction that is a direct result of sacroiliac joint disruption and degenerative sacroiliitis. This includes con
Slide 28: Disclosures
Disclosures Disclosure The iFuse TORQ® Implant System is indicated for: • Fusion of the sacroiliac joint for sacroiliac joint dysfunction including sacroiliac joint disruption and degenerative sacroiliitis. • Fracture fixation of the pelvis, including acute, non-acute and non-traumatic fractures. Th
Slide 29: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted Disclosure EBITDA $ in thousands Three Months Three Months Twelve Months Twelve Months Ended Ended Ended Ended December 31, December 31, December 31, December 31, 2025 2024 2025 2024 Net loss $ (1,648) $ (4,495) $ (18,904) $ (30,913) Interest income (1,446) (1,78
Slide 30: Reconciliation of Free Cash Flow
Disclosure Reconciliation of Free Cash Flow $ in thousands Twelve Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 Net cash used in operating activities $ (675) $ (12,425) Less: Purchases of Property and Equipment (8,414) (10,497) Free Cash Flow $ (9,089) $ (22,922) SI-BONE
Slide 31: Pioneering Procedural Solutions For Compromised Bone
h Pioneering Procedural Solutions For Compromised Bone ® 140,000+ ~1,640 180+ Procedures Active Physicians Publications Note: As of December 31, 2025 31 2/23/2026