SI Stock Forecast & Price Target

Shoulder Innovations Inc. demonstrated significant growth in 2Q25, with a total revenue of $11.8 million, reflecting a 58% increase and surpassing the previous estimates by $1.8 million. The company successfully added more surgeons to its network than initially projected, with an adjustment to forecasted growth indicating an increase of approximately 11 new Core Contender surgeons per quarter, underscoring strong surgeon adoption of its implant portfolio. Furthermore, with a strengthened balance sheet and a promising market runway, the company is well-positioned for sustained top-line growth and expanded commercial efforts in the shoulder surgical care sector.

Shoulder Innovations Inc reported an adjusted EBITDA loss of $7.5 million, which was approximately $400,000 below previous forecasts, reflecting challenges in achieving anticipated market traction. The outlook is further compounded by a combination of factors, including slower product adoption by new surgeons, lower market growth rates, and an increase in operating expenses that exceeded initial projections. Additionally, while SI's InSet Glenoid boasts a zero revision rate over a decade, the company still faces significant financial hurdles, including a total EBITDA loss of $35.9 million, which may deter investor confidence.