olivLaw · US equity research
Shoulder Innovations, Inc. SI
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
Shoulder Innovations is a medical technology company focused exclusively on shoulder surgery, offering implant systems for shoulder arthroplasty and a surgical ecosystem that includes AI-based preoperative planning. In 2026 it reported rapid sales growth, helped by the shift of procedures to outpatient centers, but it still runs operating losses.
At the close of 04 Nov 2026, Shoulder Innovations, Inc. (SI) stock was 21.01 USD (+6.00% on the day), with market capitalisation 437.4 m USD, beta 0.48, 52-week range 11.01–24.25 USD. Latest reported quarter (Q2 2026): revenue of 17.2 m USD (+56.0% YoY), net income of -10.2 m USD, diluted EPS -0.49 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 64.2
- strong (55–70)
- Bollinger (20, 2)
- 17.28 – 20.75
- above the upper band · %B 1.07 · band width 18.3%
- SMA 50 / 200
- 19.06 / 17.10
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.35 / 0.17
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.2% | −1.1% | +8.3 pp | — |
| 3 months | −7.0% | −0.5% | −6.6 pp | — |
| 6 months | +63.0% | +4.4% | +58.6 pp | — |
| Year to date | +46.9% | +12.3% | +34.6 pp | — |
| 1 year | +88.1% | +13.5% | +74.6 pp | −3.6% |
| 3 years | unavailable | +76.4% | unavailable | −16.1% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.5 m | 8.7 m | 10.1 m | 11.0 m | 11.8 m | 14.4 m | 16.7 m | 17.2 m |
| Cost of revenue | 1.8 m | 2.0 m | 2.3 m | 2.6 m | 2.8 m | 3.4 m | 3.7 m | 3.7 m |
| Gross profit | 5.7 m | 6.8 m | 7.8 m | 8.4 m | 9.0 m | 11.1 m | 13.0 m | 13.4 m |
| Research & development | 1.1 m | 1.2 m | 1.6 m | 1.4 m | 1.5 m | 3.2 m | 3.8 m | 3.4 m |
| SG&A | 8.5 m | 9.1 m | 10.5 m | 12.8 m | 15.1 m | 16.3 m | 18.2 m | 20.1 m |
| Operating income | -3.9 m | -3.5 m | -4.3 m | -5.9 m | -7.6 m | -8.5 m | -9.0 m | -10.0 m |
| Interest expense | 316.0 k | 391.0 k | 367.0 k | 216.0 k | 78.0 k | -591.0 k | -436.0 k | -673.0 k |
| Pre-tax income | -4.1 m | -3.8 m | -4.7 m | -19.2 m | -8.7 m | -7.8 m | -8.4 m | -10.2 m |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -4.1 m | -3.8 m | -4.7 m | -19.2 m | -8.7 m | -7.8 m | -8.4 m | -10.2 m |
| Diluted EPS | -68.31 | -45.20 ≈ | -52.13 | -165.53 | -0.64 | -0.38 ≈ | -0.41 | -0.49 |
| Operating cash flow | -4.9 m ≈ | -3.3 m | -6.5 m | -4.8 m ≈ | -8.6 m ≈ | -8.8 m | -12.4 m | -7.4 m ≈ |
| Capex | 887.0 k ≈ | 1.0 m | 843.0 k | 1.5 m ≈ | 2.8 m ≈ | 2.3 m | 2.7 m | 2.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 31.6 m | 47.3 m |
| Revenue YoY | unavailable | +49.6% |
| Net income | -15.6 m | -40.4 m |
| Net income YoY | unavailable | unavailable |
| Diluted EPS | -242.04 | -4.65 |
| Diluted EPS YoY | unavailable | unavailable |
| net % | -49.4% | -85.3% |
| Free cash flow | -18.2 m | -36.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 26.9 m USD
- Financial debt
- 14.9 m USD
- Net debt
- -12.0 m USD
- Equity
- 140.8 m USD
- Total assets
- 169.9 m USD
- Debt / equity
- 0.11x
- Current ratio
- 11.07x
- ROE
- unavailable
- ROA
- -37.9%
- FCF margin
- -76.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 31.6 m | 47.3 m | SEC (XBRL)· 10 Mar 2026verified |
| Cost of revenue | 7.3 m | 11.1 m | SEC (XBRL)· 10 Mar 2026verified |
| Gross profit | 24.3 m | 36.2 m | SEC (XBRL)· 10 Mar 2026verified |
| Research & development | 4.5 m | 7.7 m | SEC (XBRL)· 10 Mar 2026verified |
| SG&A | 34.5 m | 54.8 m | SEC (XBRL)· 10 Mar 2026verified |
| Operating income | -14.7 m | -26.3 m | SEC (XBRL)· 10 Mar 2026verified |
| Interest expense | 1.3 m | 70.0 k | SEC (XBRL)· 10 Mar 2026verified |
| Pre-tax income | -15.6 m | -40.4 m | SEC (XBRL)· 10 Mar 2026verified |
| Income tax | 0 | 0 | SEC (XBRL)· 10 Mar 2026verified |
| Net income | -15.6 m | -40.4 m | SEC (XBRL)· 10 Mar 2026verified |
| Diluted EPS | -242.04 | -4.65 | SEC (XBRL)· 10 Mar 2026verified |
| Weighted average diluted shares | 64.5 k | 8.7 m | SEC (XBRL)· 10 Mar 2026verified |
Balance sheet · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 6.1 m | 26.9 m | SEC (XBRL)· 10 Mar 2026verified |
| Receivables | 5.1 m | 8.3 m | SEC (XBRL)· 10 Mar 2026verified |
| Inventories | 14.0 m | 21.6 m | SEC (XBRL)· 10 Mar 2026verified |
| Current assets | 35.1 m | 157.2 m | SEC (XBRL)· 10 Mar 2026verified |
| Property, plant & equipment, net | 7.5 m | 12.5 m | SEC (XBRL)· 10 Mar 2026verified |
| Intangibles (excl. goodwill) | 400.0 k | 100.0 k | SEC (XBRL)· 10 Mar 2026verified |
| Total assets | 43.1 m | 169.9 m | SEC (XBRL)· 10 Mar 2026verified |
| Accounts payable | 4.9 m | 8.9 m | SEC (XBRL)· 10 Mar 2026verified |
| Long-term debt | 14.7 m | 14.9 m | SEC (XBRL)· 10 Mar 2026verified |
| Current liabilities | 7.6 m | 14.2 m | SEC (XBRL)· 10 Mar 2026verified |
| Total liabilities | 23.3 m | 29.2 m | SEC (XBRL)· 10 Mar 2026verified |
| Equity | -54.7 m † | 140.8 m † | SEC (XBRL)· 10 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | -14.1 m | -28.6 m | SEC (XBRL)· 10 Mar 2026verified |
| Capex | 4.0 m | 7.4 m | SEC (XBRL)· 10 Mar 2026verified |
| Free cash flow | -18.2 m ≈ | -36.0 m ≈ | SEC (XBRL)· 10 Mar 2026derived |
| Investing cash flow | 14.0 m | -95.6 m | SEC (XBRL)· 10 Mar 2026verified |
| Financing cash flow | 66.0 k | 145.0 m | SEC (XBRL)· 10 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 35.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 437.4 m USD
Key indicators
Coverage and freshness
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -243.9% | 0 (vs peers) | 29% |
| Net margin · Quality | -58.3% | 19 (vs peers) | 18% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -21.7x | 0 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 10.7x | 100 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -10.8% | 0 (on a fixed band) | 24% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality7/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
SHOULDER INNOVATIONS, INC. (SI). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 47.3 m USD in 2025; YoY growth 49.6%; net margin -58.3%; ROE -151.9%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 10.7x
What contradicts it
- ROIC: -243.9%
- Net margin: -58.3%
- Interest coverage: -21.7x
- FCF yield: -10.8%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 129.3 bn | 36.2 | 16.0% | 13.8% | +11.2% | −8% / +15% |
| MMM3m Company | 100.2 bn | 28.9 | 80.8% | 14.0% | +1.5% | +13% / +134% |
| BSXBoston Scientific Corporation | 66.4 bn | 19.4 | 14.3% | 16.6% | +19.9% | −55% / −18% |
| BDXBecton, Dickinson And Company | 57.0 bn | 63.2 | 3.8% | 4.0% | +8.2% | +37% / +13% |
| RMDResMed Inc. | 33.8 bn | 21.9 | 26.4% | 27.8% | +9.9% | −6% / +52% |
| DXCMDexcom, Inc. | 33.0 bn | 34.8 | 37.7% | 19.4% | +15.6% | +39% / −23% |
| WSTWest Pharmaceutical Services, Inc. | 28.5 bn | 45.9 | 21.2% | 18.8% | +6.3% | +47% / +17% |
| GKOSGLAUKOS Corp | 14.6 bn | — | -22.8% | -24.6% | +32.3% | +132% / +286% |
| BAXBaxter International Inc. | 13.7 bn | — | -10.5% | -6.2% | +5.7% | +41% / −27% |
| PODDInsulet Corporation | 11.4 bn | 26.9 | 28.9% | 13.4% | +30.7% | −50% / −13% |
| TFXTeleflex Incorporated | 6.4 bn | — | -28.9% | -45.8% | +17.2% | +31% / −34% |
| HAEHaemonetics Corporation | 5.8 bn | 62.3 | 11.2% | 7.1% | −2.0% | +57% / +58% |
| ICUIIcu Medical Inc | 4.3 bn | 144.2 | 1.4% | 1.4% | −6.3% | +16% / +97% |
| LMATLemaitre Vascular, Inc. | 2.0 bn | 30.9 | 16.8% | 25.0% | +13.5% | +6% / +67% |
| KMTSKestra Medical Technologies, Ltd. | 1.8 bn | — | -73.7% | -140.4% | +59.0% | +13% / unavailable |
| IARTIntegra Lifesciences Holdings Corp | 1.2 bn | 88.3 | 1.2% | 0.8% | +1.5% | +13% / −62% |
| SIBNSi-Bone, Inc. | 1.1 bn | — | -7.7% | -6.2% | +20.2% | +28% / +32% |
| MDXGMimedx Group, Inc. | 467.0 m | — | -8.5% | -6.3% | +20.0% | −53% / −59% |
| CARLCarlsmed, Inc. | 439.3 m | — | -6,196.9% | -57.4% | +85.9% | −1% / unavailable |
| BWAYBrainsway Ltd. | 439.0 m | 224.2 | 5.6% | 7.1% | +29.0% | +28% / +258% |
| SIShoulder Innovations, Inc. | 437.4 m | — | -151.9% | -58.3% | +49.6% | +88% / unavailable |
| OFIXOrthofix Medical Inc. | 395.9 m | — | -13.9% | -7.4% | +2.9% | −40% / −12% |
| CTSOCytosorbents Corporation | 286.6 m | — | -336.2% | -48.9% | +4.1% | −72% / −81% |
| UTMDUtah Medical Products, Inc. | 230.6 m | 22.1 | 8.8% | 29.0% | −5.8% | +29% / −14% |
| LUNGPulmonx Corporation | 123.2 m | — | -90.3% | -47.9% | +8.0% | +75% / −74% |
1- and 3-year price returns: for SI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Shoulder Innovations is a medical technology company focused exclusively on shoulder surgery, offering implant systems for shoulder arthroplasty and a surgical ecosystem that includes AI-based preoperative planning. In 2026 it reported rapid sales growth, helped by the shift of procedures to outpatient centers, but it still runs operating losses.
SWOT
Strengths
- The company is exclusively focused on shoulder surgery, which allows a specialised offering and a dedicated commercial team.
- Recent sales growth and a high gross margin show real demand for the two-tray system.
- Published clinical evidence for the InSet Glenoid and integration of ProVoyance planning support the company's positioning.
Weaknesses
- The company remains unprofitable, with operating losses and negative adjusted EBITDA in 2025 and 2026.
- Commercial and R&D spending is rising quickly, which pressures operating margins.
- Manufacturing is outsourced to third parties, creating dependence on manufacturing partners.
Opportunities
- The shift of procedures to ambulatory surgery centers could accelerate adoption of the two-tray system.
- Expansion into sports medicine and shoulder trauma could enlarge the addressable market.
- International markets and the InSet Neo robot, if approved, could open new revenue sources.
Threats
- Pricing pressure in the healthcare system could reduce margins in the future.
- Competitors with more mature solutions could limit gains in market share.
- Debt obligations secured by the company's assets could restrict financial flexibility if results fall short of guidance.
Risks
- Persistent losseshigh
The company has incurred net losses every year since inception and expects to keep losing money for an extended period 1.
- Debt and covenantsmedium
The Trinity loan is secured by substantially all assets, and a covenant breach could lead to foreclosure on the collateral 1.
- Reliance on third-party suppliersmedium
Implant manufacturing is outsourced, and quality or supply problems could delay deliveries 1.
- Managing growthmedium
Rapid growth demands more resources and stronger internal controls, and poor management could affect execution of the plan 1.
Investment thesis
What would need to be true (bull case)
- Sales growth and the raised guidance point to strong commercial momentum, and a high gross margin suggests a favourable cost structure if volumes keep rising.
- The refinancing and new credit lines reduce near-term liquidity risk, and available cash gives time to execute.
- The shift of operations to ambulatory surgery centers, where the two-tray system is advantageous, could support longer-term growth.
What would break the thesis
- Persistent operating losses and rising expenses could prevent profitability within the visible horizon.
- Debt secured by the company's assets could limit flexibility if sales slow down.
- Reliance on third-party manufacturers and pressure on healthcare prices could reduce margins if problems arise.
What to watch
- Trend in implant sales volume and gross marginQ3 2026
- Delivery against the 2026 revenue guidance2026
- FDA submission timing for InSet Neofirst half 2027
- Development of operating loss and commercial spendingnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Shoulder Innovations is a commercial-stage medical technology company exclusively focused on transforming shoulder surgical care. Its current offering includes advanced implant systems for shoulder arthroplasty, including aTSA and rTSA variants, complemented by the ProVoyance planning platform that uses AI and ML to turn CT images into 3D renderings. The company built its ecosystem around an instrument system with just two trays, versus six to nine trays used by other offerings 1.
Recent quarterly results show the scale of growth: net revenue in the second quarter of 2026 reached 17.2 million dollars, up 56% from the same quarter of 2025, with a gross margin of 78.3% 3. The company raised its 2026 guidance to 67-69 million dollars, which would represent growth of roughly 42-46% over 2025 3.
The company is not yet profitable: its 2025 net loss was 40,359 thousand dollars, and principal outstanding under the Trinity loan was about 15,000 thousand dollars at December 31, 2025 1. In 2026 it refinanced debt through credit facilities of up to 50 million dollars, and at June 30, 2026 it held 99.0 million dollars in cash and marketable securities 23.
Segments
Shoulder arthroplasty implant systems
The core segment includes aTSA and rTSA implants built on InSet Glenoid technology and humeral stems. Revenue comes from implants sold, at an average price of 7,273 dollars in 2025 1. Implant units sold rose from 1,443 in the first quarter of 2025 to 2,238 in the second quarter of 2026 2.
ProVoyance preoperative planning
ProVoyance is an AI and ML preoperative planning platform cleared by the FDA for shoulder planning. According to the company, virtually all surgeries using its implants use ProVoyance, which points to its integration into surgeon workflow 1.
Market context
The company estimates that about 250,000 shoulder arthroplasty procedures were performed in the United States in 2025, a market of roughly 1.7 billion dollars, with annual growth expected at about 11% through 2029 1. Adding the international market brings the global estimate to about 2.7 billion dollars 1. The growing weight of ambulatory surgery centers is an important factor, since Medicare added total shoulder arthroplasty to its ASC covered list effective 2024 1.
Demand is also affected by seasonality: the company expects lower demand in the months around the third calendar quarter, linked to summer 1. Market size depends on the company's internal estimates, which are not independently verified in the sources.
Trends
- Shift of procedures to ambulatory surgery centerstailwind
Growth in ASC procedures, where costs are lower, could support demand for the company's two-tray system. Medicare added total shoulder arthroplasty to the ASC list in 2024 1.
- Pricing pressure in healthcareheadwind
Industry trends have increased downward pricing pressure on medical products; the company has not yet seen a material impact but cannot rule out that this could change 1.
- Innovation and range expansionmixed
Launches such as the I-Series stem line, implants for metal-sensitive patients and the InSet Neo robot could widen the addressable market if clinicians and regulators accept them 2.
- Dependence on financingmixed
Persistent operating losses make access to capital and credit important; the 2026 refinancing reduces near-term risk, but obligations remain 3.
Competitive position
The analysed sources do not name competitors. The company says it differentiates through its ecosystem, its two-tray instrument system and clinical data on the InSet Glenoid, which has a mean follow-up of 8.7 years 1.
Competition comes from traditional arthroplasty solutions that use six to nine instrument trays and may be harder to run in ASCs 1. The company argues that it addresses the limitations of legacy implants.
- Traditional shoulder implant makers
Legacy arthroplasty solutions with more instrument trays are the direct competition described in the filing.
- Systems requiring six to nine instrument trays
Alternatives that need more trays are the comparison point the company invokes.
- Hospital-based shoulder surgery
Hospitals are a competing site of care, though they are also a place where procedures are performed.
- Other preoperative planning providers
The sources do not name providers; planning technology is cited only as a differentiator.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report08 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report10 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report29 Jun 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
- Current report26 Jun 2026Shareholder vote
- Quarterly report13 May 2026
- Current report13 May 2026Results of operations · Financial statements and exhibits
- Proxy statement29 Apr 2026
- Current report27 Apr 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Shoulder Innovations, Inc. · 10 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Shoulder Innovations, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Shoulder Innovations, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.