SI Stock Forecast & Price Target

Shoulder Innovations Inc. demonstrated robust performance in 2Q25, achieving total revenue of $11.8 million, a 58% increase that surpassed estimates by $1.8 million, driven by strong surgeon adoption and favorable average selling prices (ASPs). The company successfully increased its number of Core Contender surgeons, with growth now projected at approximately 11 new surgeons per quarter, indicating positive momentum in market penetration. With a strengthened balance sheet and substantial market opportunities ahead, Shoulder Innovations is well-positioned for sustained top-line growth as it expands its commercial efforts in the shoulder surgical care market.

Shoulder Innovations Inc. reported an adjusted EBITDA loss of $7.5 million, exceeding the modeled expectations by approximately $400,000, and an overall EBITDA loss of $35.9 million. The company's negative outlook is further compounded by factors such as slower product adoption by new surgeons, lower overall market growth, and higher-than-anticipated operating expenses, including increased legal and public company costs. Although the InSet Glenoid has demonstrated zero revision rates over a decade, these strengths do not mitigate the financial weaknesses and growth challenges currently faced by the company.