Shoulder Innovations — Third Quarter 2026 Earnings Summary

Shoulder Innovations reported third-quarter 2026 net revenue of $16.2 million, representing a 38% increase from the same period in 2025, driven by a 34% rise in implant systems sold and a 2% increase in average selling price. The company achieved a gross margin of 78.5% and raised its full-year 2026 net revenue guidance to a range of $68 million to $70 million. Operating expenses increased due to investments in the commercial organization and research and development, resulting in a net loss of $7.0 million for the quarter. As of September 30, 2026, the company held $92.3 million in cash and cash equivalents and marketable securities.