$SIBN
SI-BONE, Inc.

2021 Q4 Form 10-Q Financial Statement

#000145983921000061 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $25.23M $22.29M $22.19M
YoY Change 13.96% 9.39% 57.98%
Cost Of Revenue $3.375M $2.478M $2.375M
YoY Change 48.03% -3.88% 12.19%
Gross Profit $21.86M $19.81M $19.82M
YoY Change 9.99% 11.31% 66.1%
Gross Profit Margin 86.62% 88.88% 89.3%
Selling, General & Admin $32.74M $29.72M $29.64M
YoY Change 29.34% 25.44% 48.87%
% of Gross Profit 149.79% 150.04% 149.53%
Research & Development $3.049M $3.288M $3.149M
YoY Change 25.47% 18.36% 45.45%
% of Gross Profit 13.95% 16.6% 15.89%
Depreciation & Amortization $650.0K $600.0K $500.0K
YoY Change 91.18% 100.0% 66.67%
% of Gross Profit 2.97% 3.03% 2.52%
Operating Expenses $35.79M $33.01M $32.78M
YoY Change 29.01% 24.7% 48.54%
Operating Profit -$13.93M -$13.20M -$12.97M
YoY Change 77.01% 52.15% 27.87%
Interest Expense -$533.0K $2.658M $1.075M
YoY Change -47.23% 141.2% -59.93%
% of Operating Profit
Other Income/Expense, Net -$13.00K -$59.00K $13.00K
YoY Change -87.0% -153.15% -38.1%
Pretax Income -$14.48M -$15.87M -$13.98M
YoY Change 61.21% 67.6% 12.12%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$14.48M -$15.87M -$13.98M
YoY Change 61.21% 67.53% 12.1%
Net Earnings / Revenue -57.38% -71.22% -62.99%
Basic Earnings Per Share -$0.48 -$0.42
Diluted Earnings Per Share -$431.3K -$0.48 -$0.42
COMMON SHARES
Basic Shares Outstanding 33.49M shares 33.34M shares 32.98M shares
Diluted Shares Outstanding 33.34M shares 32.98M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.0M $160.9M $176.6M
YoY Change -25.18% 21.84% 28.3%
Cash & Equivalents $63.42M $59.86M $48.13M
Short-Term Investments $83.56M $101.0M $128.5M
Other Short-Term Assets $3.143M $1.934M $2.434M
YoY Change 20.88% 93.4% 52.13%
Inventory $11.50M $10.25M $8.151M
Prepaid Expenses
Receivables $14.25M $12.62M $11.89M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $175.9M $185.6M $199.1M
YoY Change -19.42% 24.16% 28.85%
LONG-TERM ASSETS
Property, Plant & Equipment $8.992M $7.913M $7.868M
YoY Change 98.63% 76.67% 78.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $405.0K $352.0K
YoY Change 6.95% 28.98% 12.82%
Total Long-Term Assets $14.64M $8.318M $8.220M
YoY Change 198.71% 73.54% 74.19%
TOTAL ASSETS
Total Short-Term Assets $175.9M $185.6M $199.1M
Total Long-Term Assets $14.64M $8.318M $8.220M
Total Assets $190.5M $194.0M $207.3M
YoY Change -14.63% 25.69% 30.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.198M $4.139M $3.918M
YoY Change -2.23% 33.43% 59.59%
Accrued Expenses $12.35M $10.43M $8.706M
YoY Change 21.12% 19.57% -6.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $16.89M $14.56M $12.62M
YoY Change 25.39% 23.2% 7.65%
LONG-TERM LIABILITIES
Long-Term Debt $34.97M $34.92M $39.63M
YoY Change -11.36% -11.29% 0.93%
Other Long-Term Liabilities $57.00K $862.0K $880.0K
YoY Change -93.33% -21.28% 126.22%
Total Long-Term Liabilities $35.03M $35.78M $40.51M
YoY Change -13.1% -11.56% 2.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.89M $14.56M $12.62M
Total Long-Term Liabilities $35.03M $35.78M $40.51M
Total Liabilities $56.09M $50.35M $53.13M
YoY Change 4.29% -3.7% 3.41%
SHAREHOLDERS EQUITY
Retained Earnings -$295.8M -$281.4M -$265.5M
YoY Change 23.64% 22.18% 20.23%
Common Stock $3.000K $3.000K $3.000K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.4M $143.6M $154.2M
YoY Change
Total Liabilities & Shareholders Equity $190.5M $194.0M $207.3M
YoY Change -14.63% 25.69% 30.19%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income -$14.48M -$15.87M -$13.98M
YoY Change 61.21% 67.53% 12.1%
Depreciation, Depletion And Amortization $650.0K $600.0K $500.0K
YoY Change 91.18% 100.0% 66.67%
Cash From Operating Activities -$12.71M -$9.309M -$8.150M
YoY Change 61.35% 67.73% 3.56%
INVESTING ACTIVITIES
Capital Expenditures -$1.775M -$423.0K -$2.211M
YoY Change 116.46% -11.88% 481.84%
Acquisitions
YoY Change
Other Investing Activities $17.15M $27.18M $18.79M
YoY Change -125.6% -681.93% 164.65%
Cash From Investing Activities $15.38M $26.75M $16.57M
YoY Change -122.67% -618.47% 146.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.015M -5.543M 2.217M
YoY Change -98.61% -1305.0% -986.8%
NET CHANGE
Cash From Operating Activities -12.71M -9.309M -8.150M
Cash From Investing Activities 15.38M 26.75M 16.57M
Cash From Financing Activities 1.015M -5.543M 2.217M
Net Change In Cash 3.679M 11.90M 10.64M
YoY Change -238.31% -216.11% -859.71%
FREE CASH FLOW
Cash From Operating Activities -$12.71M -$9.309M -$8.150M
Capital Expenditures -$1.775M -$423.0K -$2.211M
Free Cash Flow -$10.94M -$8.886M -$5.939M
YoY Change 54.94% 75.27% -20.71%

Facts In Submission

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dei Document Fiscal Year Focus
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dei Entity File Number
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dei Entity Registrant Name
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SI-BONE, INC.
dei Entity Incorporation State Country Code
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DE
dei Entity Tax Identification Number
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dei Security12b Title
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CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4241000 USD
CY2021Q3 sibn Adjustments To Additional Paid In Capital Share Based Compensation Vesting Of Early Exercised Stock Options
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9000 USD
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-23000 USD
CY2021Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-11000 USD
CY2021Q3 us-gaap Net Income Loss
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-15872000 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
143618000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
63008000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
62978000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
174000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2622000 USD
CY2020Q1 sibn Adjustments To Additional Paid In Capital Share Based Compensation Vesting Of Early Exercised Stock Options
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationVestingOfEarlyExercisedStockOptions
27000 USD
CY2020Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
12000 USD
CY2020Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
221000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-12772000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
116270000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
185000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
991000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2955000 USD
CY2020Q2 sibn Adjustments To Additional Paid In Capital Share Based Compensation Vesting Of Early Exercised Stock Options
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationVestingOfEarlyExercisedStockOptions
26000 USD
CY2020Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2000 USD
CY2020Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-85000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-12472000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
107868000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
628000 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3180000 USD
CY2020Q3 sibn Adjustments To Additional Paid In Capital Share Based Compensation Vesting Of Early Exercised Stock Options
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationVestingOfEarlyExercisedStockOptions
9000 USD
CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-33000 USD
CY2020Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-147000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-9474000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
102031000 USD
us-gaap Net Income Loss
NetIncomeLoss
-42095000 USD
us-gaap Net Income Loss
NetIncomeLoss
-34718000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12528000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8757000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1436000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-304000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-248000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
786000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
235000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1056000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
16000 USD
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
0 USD
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
43000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
234000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
204000 USD
us-gaap Gains Losses On Extinguishment Of Debt
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-1848000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1534000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1060000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-63000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4545000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-337000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
416000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-610000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1489000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
425000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
320000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2072000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26819000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22780000 USD
sibn Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
107494000 USD
sibn Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
63200000 USD
sibn Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
0 USD
sibn Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
12592000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
66678000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
69145000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4614000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1744000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
36202000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4903000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
62978000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
35000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
45297000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
41000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
45297000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
111000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
750000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
508000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
843000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1566000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
991000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2327000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
987000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2726000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
63363000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-375000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
75000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6282000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45561000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53581000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10435000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59863000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55996000 USD
sibn Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
27000 USD
sibn Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
62000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
474000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
256000 USD
us-gaap Nature Of Operations
NatureOfOperations
The Company and Nature of Business<div style="margin-top:6pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">SI-BONE, Inc. (the “Company”) was incorporated in the state of Delaware on March 18, 2008 and is headquartered in Santa Clara, California. The Company is a medical device company that has pioneered a proprietary minimally invasive surgical implant system to fuse the sacroiliac joint for treatment of the most common types of sacroiliac joint disorders that cause lower back pain. The Company introduced its primary product, the iFuse Implant System, or iFuse, in 2009 in the U.S., in 2010 in certain countries in the European Union, and in 2015 in certain countries in the rest of the world.</span></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the first quarter of 2020, the Company received $63.0 million of net proceeds from its first follow-on public offering of 4,300,000 shares of the Company's common stock, of which 2,490,053 shares were offered and sold by the Company, and the exercise of underwriter's option to purchase from the Company an additional 645,000 shares of the Company's common stock, at a public offering price of $21.50 per share. The total public offering costs incurred in connection with the follow-on offering were allocated based on the gross proceeds received by the Company and the other selling shareholders on a pro-rated basis. Public offering cost of $0.4 million allocated to selling of shares by the Company was charged against the gross proceeds received from the follow-on offering. Public offering costs of $0.2 million allocated to selling of shares by the selling shareholders was recognized as transaction costs within general and administrative expenses on the consolidated statements of operations in the year ended December 31, 2020.</span></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In October 2020, the Company received $71.6 million of net proceeds from its second follow-on public offering of shares of the Company's common stock, of which 3,000,000 shares were offered and sold by the Company, and the exercise of underwriter's option to purchase from the Company an additional 478,507 shares of the Company's common stock, at a public offering price of $22.00 per share. In addition to the shares sold by the Company in this second follow-on offering, the selling stockholder sold 190,053 shares of the Company's common stock previously held by the selling stockholder at a price to the public of $22.00 per share. The Company did not receive any proceeds from the sale by the selling stockholder. </span></div><div style="margin-bottom:12pt;margin-top:9pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Risks and Uncertainties</span></div>The Company is subject to continuing risk and uncertainties as a result of the COVID-19 pandemic, and is closely monitoring the impact of the pandemic on all aspects of its business, including the impacts on its customers, patients that would benefit from procedures involving the Company's products, employees, suppliers, vendors, business partners and distribution channels. Economies worldwide continue to be negatively impacted by the COVID-19 pandemic, in particular with recurrent outbreaks and mutations of the virus, despite advances in vaccines, and the Company anticipates these disruptions will continue. While the Company has not experienced material disruptions to its supply chain to date, certain of its third-party suppliers have faced delays, product shortages and rising costs resulting from disruptions in the global supply chain, primarily related to the instruments. As a result, the Company is continuing to work closely with its manufacturing partners and suppliers, as well as determining alternative sourcing strategies to enable the Company to source key components and maintain appropriate inventory levels to meet customer demand. As such the Company's future results of operations and liquidity could be adversely impacted by a variety of factors related to the COVID-19 pandemic, including those discussed in the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2020. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations remains uncertain
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51243000 USD
us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates are based on historical experience, where applicable and other assumptions believed to be reasonable by the management. Actual results could differ from those estimates.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22286000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20373000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
64922000 USD
CY2021Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
54218000 USD
CY2021Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
54218000 USD
CY2021Q3 sibn Available For Sale Debt Securities Current Amortized Cost Basis
AvailableForSaleDebtSecuritiesCurrentAmortizedCostBasis
100988000 USD
CY2021Q3 sibn Available For Sale Debt Securities Current Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesCurrentAccumulatedGrossUnrealizedGainBeforeTax
3000 USD
CY2021Q3 sibn Available For Sale Debt Securities Current Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesCurrentAccumulatedGrossUnrealizedLossBeforeTax
3000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
100988000 USD
CY2021Q3 sibn Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
155206000 USD
CY2021Q3 sibn Marketable Securities Accumulated Gross Unrealized Gain Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000 USD
CY2021Q3 sibn Marketable Securities Accumulated Gross Unrealized Loss Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3000 USD
CY2021Q3 sibn Marketable Securities Fair Value
MarketableSecuritiesFairValue
155206000 USD
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
47348000 USD
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
47348000 USD
CY2020Q4 sibn Available For Sale Debt Securities Current Amortized Cost Basis
AvailableForSaleDebtSecuritiesCurrentAmortizedCostBasis
142856000 USD
CY2020Q4 sibn Available For Sale Debt Securities Current Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesCurrentAccumulatedGrossUnrealizedGainBeforeTax
8000 USD
CY2020Q4 sibn Available For Sale Debt Securities Current Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesCurrentAccumulatedGrossUnrealizedLossBeforeTax
13000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
142851000 USD
CY2020Q4 sibn Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
190204000 USD
CY2020Q4 sibn Marketable Securities Accumulated Gross Unrealized Gain Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
8000 USD
CY2020Q4 sibn Marketable Securities Accumulated Gross Unrealized Loss Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
13000 USD
CY2020Q4 sibn Marketable Securities Fair Value
MarketableSecuritiesFairValue
190199000 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14247000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9484000 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6334000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4957000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7913000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4527000 USD
CY2021Q3 us-gaap Depreciation
Depreciation
600000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
300000 USD
us-gaap Depreciation
Depreciation
1400000 USD
us-gaap Depreciation
Depreciation
800000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8501000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9175000 USD
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
719000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
511000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1205000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
513000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10425000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10199000 USD
sibn Operating Lease Term Of Written Notice For Termination
OperatingLeaseTermOfWrittenNoticeForTermination
six months
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
19534 sqft
CY2021Q3 sibn Lessee Operating Lease Lease Not Yet Commenced Number Of Options To Extend
LesseeOperatingLeaseLeaseNotYetCommencedNumberOfOptionsToExtend
1 renewal_option
CY2021Q3 us-gaap Lessee Operating Lease Lease Not Yet Commenced Renewal Term1
LesseeOperatingLeaseLeaseNotYetCommencedRenewalTerm1
P3Y
CY2021Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
300000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
900000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
378000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1641000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1559000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1510000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
987000 USD
CY2021Q3 sibn Operating Leases Future Minimum Payments Due After Year Four
OperatingLeasesFutureMinimumPaymentsDueAfterYearFour
540000 USD
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6615000 USD
CY2021Q3 us-gaap Purchase Obligation
PurchaseObligation
1300000 USD
CY2020Q4 us-gaap Purchase Obligation
PurchaseObligation
300000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35700000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
41000000 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
107000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
661000 USD
CY2021Q3 us-gaap Debt Instrument Fee Amount
DebtInstrumentFeeAmount
671000 USD
CY2020Q4 us-gaap Debt Instrument Fee Amount
DebtInstrumentFeeAmount
884000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
34922000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
39455000 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
34922000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
39455000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7292000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
17500000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
10908000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35700000 USD
CY2021Q3 sibn Social Security Tax Employer Deferral Cares Act
SocialSecurityTaxEmployerDeferralCARESAct
1000000 USD
CY2020Q4 sibn Social Security Tax Employer Deferral Cares Act
SocialSecurityTaxEmployerDeferralCARESAct
1000000 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2405957 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.54
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
317001 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
25217 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.78
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2063739 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.00
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1700000 USD
CY2020Q4 sibn Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercise Common Stock Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExerciseCommonStockSubjectToRepurchase
5836 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.37
CY2021Q3 sibn Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercise Common Stock Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExerciseCommonStockSubjectToRepurchase
0 shares
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4241000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3180000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12528000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8757000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-15872000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-9474000 USD
us-gaap Net Income Loss
NetIncomeLoss
-42095000 USD
us-gaap Net Income Loss
NetIncomeLoss
-34718000 USD
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33340093 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33340093 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28713418 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28713418 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33005904 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33005904 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28155561 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28155561 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.48
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3813140 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4019378 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3813140 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4019378 shares

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