Shoulder Innovations financials
$18.79+4.68%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q3 '22 Sep 30 | Q2 '22 Jun 30 | Q1 '22 Mar 31 | Q4 '21 Dec 31 | Q3 '21 Sep 30 | Q2 '21 Jun 30 | Q1 '21 Mar 31 | Q4 '20 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.2M | $16.7M | $14.4M | $11.8M | $99.2M | $80.8M | $60.3M | $49.5M | $52.0M | $42.7M | $31.4M | $27.1M |
| Gross profit | $13.4M | $13.0M | $11.1M | $9.0M | $89.3M | $79.8M | $59.9M | $49.3M | $51.7M | $42.5M | $31.1M | $26.8M |
| Gross margin | 78.3% | 77.7% | 76.7% | 76.2% | 90.0% | 98.7% | 99.4% | 99.4% | 99.5% | 99.3% | 99.1% | 98.9% |
| Operating income | -$10.0M | -$9.0M | -$8.5M | -$7.6M | $56.8M | $49.2M | $34.4M | $23.6M | $29.4M | $20.9M | $11.5M | $9.0M |
| Net income | -$10.2M | -$8.4M | -$7.8M | -$8.7M | $40.6M | $35.9M | $24.7M | $18.4M | $23.5M | $20.9M | $12.7M | $9.1M |
| Net margin | −59.1% | −50.1% | −53.9% | −74.3% | 41.0% | 44.5% | 41.0% | 37.1% | 45.2% | 49.0% | 40.5% | 33.7% |
| Diluted EPS | $-0.49 | $-0.41 | $-0.37 | $-0.64 | $1.28 | $1.13 | $0.79 | $0.65 | $0.88 | $0.80 | $0.55 | $0.48 |
| EBITDA | -$8.9M | -$7.8M | -$7.5M | -$6.8M | $56.8M | $49.2M | $34.4M | $23.6M | $29.4M | $20.9M | $11.5M | $9.0M |
| Operating cash flow | -$7.4M | -$12.4M | -$8.8M | -$8.6M | $103.9M | $168.2M | $162.7M | -$39.4M | -$4.3M | $143.5M | -$20.1M | -$191.8M |
| Free cash flow | -$9.5M | -$15.1M | -$11.1M | -$11.4M | $103.3M | $167.7M | $162.4M | -$41.0M | -$4.4M | $143.3M | -$20.1M | -$191.9M |
| Diluted shares | 20.7M | 20.7M | 20.9M | 13.6M | 31.8M | 31.8M | 31.4M | 25.9M | 26.8M | 26.1M | 23.0M | 19.2M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Sep 30 | Jun 30 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $24.5M | $11.5M | $26.9M | $54.9M | $465.9M | $256.4M |
| Short-term investments | $74.5M | $97.0M | $97.4M | $82.4M | $13.06B | $13.62B |
| Total debt | $14.8M | $15.0M | $14.9M | $14.8M | $715.9M | $815.9M |
| Total assets | $152.0M | $160.4M | $169.9M | $177.8M | $15.47B | $15.90B |
| Total liabilities | $27.7M | $27.3M | $29.2M | $29.9M | $14.14B | $14.48B |
| Shareholders' equity | $124.3M | $133.0M | $140.8M | $147.8M | $1.33B | $1.42B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology