Si-Bone (Nasdaq:SIBN) this week announced preliminary fourth-quarter results that exceed the 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 in Q4, representing a 26% growth year-over-year. For the full year, Si-Bone anticipates worldwide revenue in the range of $106.1-$106.3 million for an 18% growth compared to FY 2021, according to a news release.
The Q4 revenues are expected to 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. Its iFuse implant system for minimally invasive surgery of the SI joint has been used in more than 75,000 procedures, according to the company.
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%.