SI-BONE
SI-BONE is a publicly traded medical device company that designs and sells minimally invasive triangular titanium implant systems for sacroiliac joint fusion, pelvic trauma, and spinopelvic fixation, serving orthopedic and spine surgeons, trauma centers, ambulatory surgery centers, and VA/DoD facilities worldwide.
- Company typePublic
- Founded2008
- HeadquartersSan Jose, United States
- Headcount251–500
- GTM typeB2B
- OfferingHardware or Manufacturing
What SI-BONE does
SI-BONE is a Santa Clara-based medical device company that designs, manufactures, and commercializes minimally invasive sacroiliac (SI) joint fusion implant systems. Founded in 2009 and listed on NASDAQ under ticker SIBN since 2018, the company pioneered the triangular titanium iFuse Implant System and has since expanded into a full sacropelvic portfolio including iFuse 3D, iFuse TORQ (SI joint fusion and pelvic fracture fixation), iFuse TORQ TNT (3D-printed traniliac-transsacral implant for pelvic trauma), the iFuse INTRA family (allograft and titanium intra-articular options), and iFuse Bedrock Granite for spinopelvic fixation, supported by navigation and neuromonitoring accessory sets compatible with Medtronic's StealthStation and O-arm platforms.
The company generates revenue through hardware sales of implants and instruments on a per-procedure basis, distributed via a direct field-sales force calling on orthopedic and spine surgeons, Level 1/2 trauma centers, ambulatory surgery centers, and VA/DoD facilities, complemented by strategic channel partnerships — Smith+Nephew for trauma market access and Spartan Medical as exclusive SDVOSB distributor for government healthcare. It operates U.S. headquarters in Santa Clara, California, a European headquarters in Gallarate (Italy), and country offices in Germany, France, and the UK, with 251–500 employees, 1,650 active physicians, and over 150,000 procedures supported since inception.
Financially, SI-BONE reported $200.9M in FY2025 revenue (20.2% growth), 78–79% gross margins, and a first full year of positive adjusted EBITDA at $8.9M, with FY2026 guidance of $230–233M (14–16% growth). Management cites a $3.5B total addressable market with less than 10% current penetration, supported by regulatory tailwinds including FDA Breakthrough Device Designation and Medicare NTAP eligibility for iFuse TORQ TNT, plus a pending CMS IPPS MS-DRG proposal favorable to iFuse Bedrock Granite procedures.
SI-BONE firmographics
Firmographics- Name
- SI-BONE
- Legal name
- SI-BONE, Inc.
- Website
- http://si-bone.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- SI-BONE is a publicly traded medical device company that designs and sells minimally invasive triangular titanium implant systems for sacroiliac joint fusion, pelvic trauma, and spinopelvic fixation, serving orthopedic and spine surgeons, trauma centers, ambulatory surgery centers, and VA/DoD facilities worldwide.
- Ownership category
- akta.pro rank
SI-BONE industry classification
Industry- Product category
- Orthopedic Medical Devices
- NAICS
- Surgical Appliance and Supplies Manufacturing (339113)
- SIC
- Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842)
- akta.pro primary industry
- 3D-Printed & Patient-Specific Implants (Custom Ortho/Spine/Cranial) (HLAHAEAJ)
- akta.pro secondary industry
- Orthopedic Trauma & Extremities Fixation (Plates/Screws/Nails/External Fixation) (HLAHAEAB)
Keywords
Where SI-BONE is headquartered
LocationHeadquarters
- HQ city
- San Jose
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
SI-BONE business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Marketing or Sales, Personnel, Operations, Supply Chain
Revenue model
- Medical Device/Implant Sales: SI-BONE generates revenue primarily through the sale of its iFuse implant systems and related surgical instruments to healthcare providers and hospitals. Revenue is generated on a per-procedure basis as surgeons use the implants during SI joint fusion surgeries. The company also sells assisting technologies including navigation sets and neuromonitoring kits.
- Product Partnerships and Licensing: Through the Smith+Nephew distribution partnership, SI-BONE receives revenue from the commercialization of the iFuse TORQ portfolio. This represents a channel partnership model where products are distributed through partner commercial platforms, generating revenue through product sales to partner distribution networks.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
SI-BONE product offering
Product offeringCore offering
SI-BONE designs, manufactures, and commercializes proprietary minimally invasive implant systems for sacroiliac (SI) joint fusion, pelvic trauma fixation, and spinopelvic fixation. Its core iFuse portfolio consists of triangular titanium implants placed across the SI joint to stabilize and fuse it, supplemented by 3D-printed variants, allograft options, navigation instruments, and neuromonitoring kits sold to surgeons, hospitals, ambulatory surgery centers, and government healthcare facilities.
Product overview
SI-BONE is a medical device company offering a comprehensive portfolio of implant systems and surgical tools for sacropelvic procedures. The core product family includes the iFuse Implant System (original triangular titanium implant), iFuse 3D (3D-printed variant), iFuse TORQ (for SI joint fusion and pelvic fractures), iFuse TORQ TNT (traniliac-transsacral 3D printed implant for pelvic trauma), iFuse INTRA/iFuse INTRA Ti/iFuse INTRA X (allograft and titanium intra-articular options), and iFuse Bedrock Granite (for spinopelvic fixation). Supporting products include the iFuse-Navigation Set (compatible with Medtronic StealthStation and O-arm systems) and the iFuse Neuromonitoring Kit. The company operates as a single-product-focused medical device manufacturer rather than a platform-plus-modules architecture.
Differentiator
Problem solved
Functional benefit
Brands
- iFuse Implant System: Minimally invasive sacroiliac joint fusion implant system
- iFuse 3D
- iFuse TORQ
- iFuse TORQ TNT
- iFuse INTRA Ti
- iFuse INTRA
- iFuse INTRA X
- iFuse Bedrock Granite
- SI Buddy Program
Products and services
- iFuse Implant System The original minimally invasive SI joint fusion implant system featuring triangular titanium implants placed across the SI joint to stabilize and fuse it. Implant lengths range from 30mm to 70mm in 5mm increments with 4.0 and 7.0mm diameters. Designed for orthopedic and spine surgeons treating chronic SI joint dysfunction.
- iFuse 3D A 3D-printed version of the iFuse implant offering unique dimensions in SI joint fusion with enhanced surface features for improved bone integration and fixation. Used by orthopedic and spine surgeons for SI joint dysfunction.
- iFuse TORQ
Quantifiable outcome
- 22% increase in U.S. physician adoption in 2025
- +3 more outcomes
Companies that use SI-BONE
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
SI-BONE technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature8 records
SI-BONE partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and strategic.
- Spartan Medical Inc.coreSpartan Medical Inc. and SI-BONE announced a partnership to expand access to advanced ultra-minimally invasive treatment options for sacroiliac joint dysfunction among veterans and wounded warriors at VA and DoD facilities nationwide. Spartan Medical is the exclusive SDVOSB distributor for SI-BONE, providing contract-ready programs, clinical support, and logistics solutions to government healthcare systems. Addresses a significant treatment gap with over 90,000 SI joint dysfunction diagnoses at VA facilities in 2024.
- Smith+NephewcoreSmith+Nephew signed a distribution agreement with SI-BONE to commercialize the iFuse TORQ portfolio of pelvic fracture fixation and sacroiliac joint fusion implants. The partnership combines SI-BONE's product innovation with Smith+Nephew's established commercial platform to expand surgeon access and drive growth in the pelvic trauma market. Products include iFuse TORQ TNT and iFuse TORQ implants with FDA Breakthrough Device Designation and Medicare NTAP eligibility of up to $4,136 per procedure.
- MedtronicstrategicSI-BONE's navigation-compatible instruments (iFuse-Navigation Set) are designed for use with the Medtronic O-arm Imaging System and StealthStation Navigation System. This integration enables surgeons to perform iFuse procedures with enhanced precision using stereotactic navigation technology. The iFuse TORQ and TORQ TNT Navigation instruments are also indicated for use with Medtronic StealthStation System.
Scale indicators12 records
Recent moves6 records
Expansion highlights7 records
SI-BONE competitors and assessment
Company assessmentBroad incumbents
- Medtronic: Largest spine company globally and SI-BONE's navigation integration partner (StealthStation and O-arm). A broad incumbent in spine surgery whose portfolio and scale make it the most likely large competitor in sacropelvic procedures.
- Stryker: Large diversified orthopedic medical device company with a significant spine and trauma business. Stryker is a potential competitive entrant in sacropelvic fixation and serves many of the same hospital and surgeon customers as SI-BONE.
- Smith+Nephew: Global medical device company with established trauma and extremities franchise and SI-BONE's distribution partner for the iFuse TORQ portfolio. Comparable in trauma call points and a key partner/competitor dynamic in pelvic fracture fixation.
- Zimmer Biomet: Global orthopedic implant leader with a broad portfolio in joint reconstruction, spine, and trauma. Operates in the same call points on orthopedic and trauma surgeons and represents a potential large-scale competitor in pelvic and sacral fixation.
Direct peers
- Orthofix Medical: Orthopedic and spine company with products spanning spinal implants, biologics, and orthopedic trauma. Compares to SI-BONE in its mix of implant-based therapies and focus on niche orthopedic indications.
- NuVasive: Spine surgery specialist focused on minimally invasive procedures and implants, including sacropelvic fixation products. Highly comparable to SI-BONE in customer base (spine surgeons) and focus on procedural innovation.
- Globus Medical: Major spine and orthopedic implant company with a broad portfolio in spinal fusion, trauma, and motion preservation. It is the closest direct competitor to SI-BONE in spine and sacropelvic procedures and provides a useful scale and margin benchmark.
- Alphatec Holdings: Spine-focused company developing surgical solutions for spine disorders, with overlap in surgical approach and surgeon customer profile. A smaller, growth-oriented peer with comparable procedure-volume economics.
Emerging players
- Xtant Medical: Orthopedic and spine company with a focus on biologics and fixation implants. Comparable in the niche orthopedic implant space, though much smaller scale than SI-BONE.
- Surgalign Holdings: Spine and orthopedic technology company focused on minimally invasive solutions and digital surgery. Smaller and earlier-stage peer with overlapping surgeon customer base and procedure focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
SI-BONE social profiles
Digital presenceSI-BONE financial estimates
Financial estimateRevenue estimate
Valuation estimate
SI-BONE leadership team
Management profileNumber of profiles
Profiles8 records
SI-BONE subsidiaries and ownership
Company hierarchySubsidiaries3 records
SI-BONE funding detail
Funding detailFunding overview
Funding rounds8 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SI-BONE M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SI-BONE
What does SI-BONE do?
SI-BONE designs, manufactures, and commercializes proprietary minimally invasive implant systems for sacroiliac (SI) joint fusion, pelvic trauma fixation, and spinopelvic fixation. Its core iFuse portfolio consists of triangular titanium implants placed across the SI joint to stabilize and fuse it, supplemented by 3D-printed variants, allograft options, navigation instruments, and neuromonitoring kits sold to surgeons, hospitals, ambulatory surgery centers, and government healthcare facilities.
Is SI-BONE a public or private company?
SI-BONE is a public company. It is classified as public and is currently operating.
When was SI-BONE founded?
SI-BONE was founded in 2008. It employs 251 to 500 people.
Where is SI-BONE based?
SI-BONE is headquartered in San Jose, United States, in the North America region.
How does SI-BONE make money?
Two revenue lines are on record. Medical Device/Implant Sales are the primary driver. The others are product Partnerships and Licensing.
Who are SI-BONE's main competitors?
Broad incumbents on record are Medtronic, Stryker, Smith+Nephew and Zimmer Biomet. Direct peers are Orthofix Medical, NuVasive, Globus Medical and Alphatec Holdings. Emerging players are Xtant Medical and Surgalign Holdings.
Does SI-BONE have an API?
No public API is recorded for SI-BONE.
What industry is SI-BONE in?
SI-BONE's product category is Orthopedic Medical Devices. Its primary akta.pro industry code is HLAHAEAJ, 3D-Printed & Patient-Specific Implants (Custom Ortho/Spine/Cranial), with a secondary code of HLAHAEAB, Orthopedic Trauma & Extremities Fixation (Plates/Screws/Nails/External Fixation). Its NAICS code is 339113 and its SIC code is 3842.