Si-Bone (NSDQ:SIBN) this week posted fourth-quarter results that beat revenue consensus on Wall Street but miss earnings estimates.
The Santa Clara, California-based musculoskeletal treatment device company reported losses of -$14.5 million, or -43¢ per share, on sales of $25.2 million for the three months ended Dec. 31, 2021 for a sales growth of 13.94% compared with Q4 2020.
Earnings per share were 5¢ behind The Street, where analysts were looking for sales of $24.81 million.
“I am pleased with the team’s execution in 2021, as we extended our market leadership, grew our commercial infrastructure, expanded exclusive payor coverage, and ended the year with a record active surgeon base,” CEO Laura Francis said in a news release. “As we look beyond the near-term impact from the recent resurgence of COVID-19 on elective procedures and hospital infrastructure, we see strong underlying momentum in our business. In 2022 we will continue to leverage our investments to execute on our long-term strategy and expand the market for sacropelvic surgical solutions.”
Si-Bone said it expects total 2022 revenue to be approximately $106 million to $108 million to represent growth of 18% to 20% year-over-year.
Shares in SIBN were at a standstill before market open.