Si-bone, Inc. · NASDAQ:SIBN
Si-bone — Investor Presentation (January 2022)
26 slides from Si-bone's investor presentation, Jan 10, 2022
Slide 1: Corporate Overview January 2022
1 Corporate Overview January 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains “forward-looking statements,” which are statements related to events, results, activities or developments that SI-BONE expects, believes or anticipates will or may occur in the future. Forward-looking often contain words such as “intends,” “estimates,
Slide 3: Transforming & Leading the Sacropelvic Space
Large Market Market Leadership Competitive Advantage Clinical and Educational Focus $2.5 billion annual U.S. opportunity Pioneering sacropelvic surgical solutions 5-year clinical data SI-BONE SImulator™ advanced training technology 279K potential U.S. procedures per year ~65,000 procedures worldwide
Slide 4: Setup to Deliver Strong and Sustainable Long-term Growth
▪ Product / solutions launched ▪ Clinical trial results ▪ Payor wins / surgeon reimbursement changes 4 Setup to Deliver Strong and Sustainable Long-term Growth ▪ Mar: iFuse 3D (510K approval) ▪ IPO ▪ Apr: Expanded to Adult Deformity – Bedrock ▪ Sept: LOIS clinical Trial (5-yr data) ▪ Apr : SIFI Clin
Slide 5: SI Joint: Last, Largest Joint Market
LAST JOINT LARGEST JOINT SI JOINT Major Joints Market 5
Slide 6: 30M+ in the U.S. Suffer From Lower Back Pain
6 30M+ in the U.S. Suffer From Lower Back Pain 4.7M SI joint pain sufferers 1.4M Eligible for surgery Each symbol represents 150K people Sources: Jensen M, Brant-Zawadzki M, Obuchowski N, et al. Magnetic Resonance Imaging of the Lumbar Spine in People Without Back Pain. N Engl J Med. 1994;331:69-116
Slide 7: Growing demand driving robust US procedure growth
4,300 5,100 6,400 7,500 9,400 2017 2018 2019 2020 2021 Completed U.S. Cases 7 Note: All figures rounded to the nearest hundred Growing demand driving robust US procedure growth
Slide 8: Pioneering sacropelvic surgical solutions
Pioneering sacropelvic surgical solutions 8 ~65,000 Procedures Note: As of December 31, 2021 >2,600 Surgeons >300M U.S. Covered Lives >160M U.S. Exclusive
Slide 9: Diagnostic Algorithm Acceptance and Adoption
Diagnostic Algorithm Acceptance and Adoption Source: Petersen, et al. BMC Musculoskeletal Disorders. 2017;18(1):188. DOI 10.1186/s 12891-017-1549-6 PATIENT HISTORY PROVOCATIVE TESTS LOCAL ANESTHETIC INJECTION MEDICARE (MACs) PRIVATE PAYORS Accuracy equals or exceeds other lumbar spine diagnoses 9
Slide 10: A Major Gap in Sacroiliac Joint Therapy
A Major Gap in Sacroiliac Joint Therapy NON-SURGICAL MANAGEMENT SURGERY MEDICATIONS, PHYSICAL THERAPY THERAPEUTIC INJECTIONS RADIO-FREQUENCY ABLATION OPEN SI JOINT FUSION MIS SI JOINT FUSION 10
Slide 11: Clinically Proven Minimally Invasive Solution
Clinically Proven Minimally Invasive Solution >33,000 PROCEDURES REPRESENTATIVE COMPETITOR CANCELLOUS BONE 3D-PRINTED iFUSE-3D TPS-COATED iFUSE 3 MONTH SHEEP STUDY* ▪ Proven triangular design and procedure ▪ Porous, 3D-printed titanium implant ▪ Bony on-growth, in-growth, through-growth* * MacBarb R
Slide 12: Proprietary, Differentiated Technology
12 Proprietary, Differentiated Technology SI Screws iFuse Rotation ▪ 1x resistance 6x resistance (vs. 12mm Rialto Screw)1 Strength ▪ 1x strength 3x strength2 (vs. standard 8.0mm cannulated screw)2 Safety ▪ No known aggregate published data Low complication rate (< 5%)3 Revision ▪ 1 pub (Rialto
Slide 13: Comprehensive Sacropelvic Surgical Solution
Pl a t fo rm Tech n o l o g ies E n ab l i n g Tech n o l o g ies iFuse and iFuse-3D™ iFuse Navigation iFuse Decorticator Adult Deformity iFuse Neuromonitoring iFuse Robotics iFuse Bone® Ad j acen t Marke ts Ortho Trauma 2009 - 2017 2018 - 2019 2019 - 2021 Comprehensive Sacropelvic Surgical Solution
Slide 14: Intellectual Property Overview
Intellectual Property Overview ▪ 59 issued patents: U.S. (44), OUS (15) ▪ 42 pending patents: U.S. (33), OUS (9) ▪ iFuse patents cover until November 2024 ▪ iFuse-3D™ patents cover until September 2035 SHAPE Joint … fused … a rectilinear bone fusion implant … across the joint APPROACH Lateral insert
Slide 15: Patient Experience
Patient Experience 95%Patient satisfaction1 Clinically meaningful threshold at 15 pts 1. Whang PG, et al. Long-Term Prospective Clinical And Radiographic Outcomes After Minimally Invasive Lateral Transiliac Sacroiliac Joint Fusion Using Triangular Titanium Implants. Med Devices (Auckl). 2019;12:411-
Slide 16: Robust Clinical Evidence
Robust Clinical Evidence • 100+ peer-reviewed published papers • 5-year long-term, prospective data • Two Level 1 randomized studies 16 www.si-bone.com/results
Slide 17: SALLY Prospective Clinical Trial: iFuse-3D 2-year Outcomes
17 SALLY Prospective Clinical Trial: iFuse-3D 2-year Outcomes (1) Rapid, marked and durable improvements in pain, patient function and quality of life VAS Pain Reduction ODI Disability Improvement Decreased Opioid Use 57-point improvement (MCID 20 points) 25-point improvement (MCID 15 points) 59% at
Slide 18: iFuse-TORQ: Cutting-Edge Pelvic Fixation & Fusion
iFuse-TORQ: Cutting-Edge Pelvic Fixation & Fusion Large, Adjacent Market FuSIon 3D™ Surface mimics cancellous bone Differentiated Technology TORQLock™ Threads1 10x rotational resistance on insertion vs. trauma screws Competitive Advantages $350 million Pelvic Trauma opportunity 18 1. Internal clinic
Slide 19: SI-BONE SImulator surgeon training system
SI-BONE SImulator surgeon training system 19 ▪ 24 SImulators deployed in the U.S. and E.U ▪ >50% of first surgeon trainings with SImulator ▪ Driving surgeon engagement and active surgeon growth ✓ On-demand, anytime, anywhere ✓ No surgeon travel ✓ Radiation-free virtual CTs ✓ Eliminate cadaver costs
Slide 20: Dedicated U.S. Salesforce to Drive Growth in 2022
4Q 2021 Dedicated U.S. Salesforce to Drive Growth in 2022 Q3 2021 135 FTEs in U.S. Salesforce 78 sales reps 57 clinical support specialists 16 Sales Regions 20 150 FTEs in U.S. Salesforce 85 sales reps 65 clinical support specialists 16 Sales Regions
Slide 21: Executive Leadership
Tony Recupero President, Commercial Operations Laura Francis Chief Executive Officer Jeffrey Dunn Executive Chairman Executive Leadership Anshul Maheshwari Chief Financial Officer 21
Slide 22: Entering 2022 in a Position of Strength
Entering 2022 in a Position of Strength 1Q21 2Q21 3Q21 4Q21E Gross Margin 89.2% 89.3% 88.9% NA $20.4 $22.2 $22.3 $24.9-$25.2 Revenue (in millions) 22 1. Note: Fourth quarter 2021 revenue are preliminary and prior to the completion of SI-BONE's financial closing procedures and audit procedures by its
Slide 23: 2021 Significant Milestones
2021 Significant Milestones 23 • Record FY21 revenue of $89.8 - $90.1 million, representing y/y growth of 22-23% • Sequential growth in 2Q21, 3Q21, 4Q21 reflects strong business momentum and focused execution • 11,000+ worldwide procedures demonstrate increasing demand for solutions • Record US proc
Slide 24: Investment Highlights
Investment Highlights ~$146M IN CASH AND EQUIVALENTS 2 AT DECEMBER 31 , 2021 POSITIVE FINANCIAL PROFILE ~$90M FY21 REVENUE ROBUST DATA1 >100 PUBLISHED PAPERS 2 RANDOMIZED TRIALS REIMBURSEMENT ADVANTAGE1 >160M EXCLUSIVE LIVES >300M COVERED LIVES 1. Data as October 1, 2021 2. Full year 2021 revenue es
Slide 25: Disclosure
DisclosureDisclosure The iFuse Implant System® is intended for sacroiliac fusion for the following conditions: • Sacroiliac joint dysfunction that is a direct result of sacroiliac joint disruption and degenerative sacroiliitis. This includes conditions whose symptoms began during pregnancy or in the
Slide 26: Pioneering sacropelvic surgical solutions
Pioneering sacropelvic surgical solutions ~65,000 Procedures Note: As of December 31, 2021 >2,600 Surgeons >300M U.S. Covered Lives >160M U.S. Exclusive 26