2022 Q2 Form 10-Q Financial Statement

#000145983922000029 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $25.59M $22.44M $25.23M
YoY Change 15.28% 9.77% 13.96%
Cost Of Revenue $3.465M $2.983M $3.375M
YoY Change 45.89% 35.59% 48.03%
Gross Profit $22.12M $19.46M $21.86M
YoY Change 11.61% 6.65% 9.99%
Gross Profit Margin 86.46% 86.71% 86.62%
Selling, General & Admin $36.52M $32.74M $32.74M
YoY Change 23.24% 21.9% 29.34%
% of Gross Profit 165.11% 168.3% 149.79%
Research & Development $3.478M $3.580M $3.049M
YoY Change 10.45% 21.15% 25.47%
% of Gross Profit 15.72% 18.4% 13.95%
Depreciation & Amortization $792.0K $713.0K $650.0K
YoY Change 58.4% 109.71% 91.18%
% of Gross Profit 3.58% 3.66% 2.97%
Operating Expenses $40.00M $36.32M $35.79M
YoY Change 22.01% 21.82% 29.01%
Operating Profit -$17.88M -$16.87M -$13.93M
YoY Change 37.92% 45.73% 77.01%
Interest Expense -$486.0K $561.0K -$533.0K
YoY Change -145.21% -47.27% -47.23%
% of Operating Profit
Other Income/Expense, Net -$146.0K -$54.00K -$13.00K
YoY Change -1223.08% -116.07% -87.0%
Pretax Income -$18.51M -$17.41M -$14.48M
YoY Change 32.42% 42.24% 61.21%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.51M -$17.41M -$14.48M
YoY Change 32.42% 42.22% 61.21%
Net Earnings / Revenue -72.36% -77.59% -57.38%
Basic Earnings Per Share -$0.54 -$0.52
Diluted Earnings Per Share -$543.7K -$0.52 -$431.3K
COMMON SHARES
Basic Shares Outstanding 33.91M shares 33.79M shares 33.49M shares
Diluted Shares Outstanding 34.05M shares 33.79M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.4M $130.7M $147.0M
YoY Change -35.23% -29.35% -25.18%
Cash & Equivalents $24.32M $27.33M $63.42M
Short-Term Investments $90.10M $103.4M $83.56M
Other Short-Term Assets $2.325M $3.143M $3.143M
YoY Change -4.48% 20.88% 20.88%
Inventory $16.48M $14.71M $11.50M
Prepaid Expenses
Receivables $15.12M $12.68M $14.25M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $148.3M $161.3M $175.9M
YoY Change -25.5% -22.51% -19.42%
LONG-TERM ASSETS
Property, Plant & Equipment $17.42M $10.28M $8.992M
YoY Change 121.42% 41.06% 98.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $385.0K $395.0K $400.0K
YoY Change 9.38% 7.92% 6.95%
Total Long-Term Assets $17.81M $15.59M $14.64M
YoY Change 116.62% 103.74% 198.71%
TOTAL ASSETS
Total Short-Term Assets $148.3M $161.3M $175.9M
Total Long-Term Assets $17.81M $15.59M $14.64M
Total Assets $166.1M $176.8M $190.5M
YoY Change -19.86% -18.03% -14.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.141M $4.998M $3.198M
YoY Change 31.21% -3.57% -2.23%
Accrued Expenses $9.921M $9.169M $12.35M
YoY Change 13.96% -6.95% 21.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $16.67M $15.45M $16.89M
YoY Change 32.07% 12.73% 25.39%
LONG-TERM LIABILITIES
Long-Term Debt $35.08M $35.02M $34.97M
YoY Change -11.49% -11.43% -11.36%
Other Long-Term Liabilities $3.567M $45.00K $57.00K
YoY Change 305.34% -94.66% -93.33%
Total Long-Term Liabilities $38.64M $35.07M $35.03M
YoY Change -4.61% -13.17% -13.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.67M $15.45M $16.89M
Total Long-Term Liabilities $38.64M $35.07M $35.03M
Total Liabilities $55.31M $54.41M $56.09M
YoY Change 4.1% 0.59% 4.29%
SHAREHOLDERS EQUITY
Retained Earnings -$313.3M -$295.8M
YoY Change 30.96% 23.64%
Common Stock $3.000K $3.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $110.8M $122.4M $134.4M
YoY Change
Total Liabilities & Shareholders Equity $166.1M $176.8M $190.5M
YoY Change -19.86% -18.03% -14.63%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$18.51M -$17.41M -$14.48M
YoY Change 32.42% 42.22% 61.21%
Depreciation, Depletion And Amortization $792.0K $713.0K $650.0K
YoY Change 58.4% 109.71% 91.18%
Cash From Operating Activities -$14.84M -$13.51M -$12.71M
YoY Change 82.1% 44.37% 61.35%
INVESTING ACTIVITIES
Capital Expenditures -$2.001M $2.274M -$1.775M
YoY Change -9.5% 15.08% 116.46%
Acquisitions
YoY Change
Other Investing Activities $12.98M -$20.33M $17.15M
YoY Change -30.93% 294.83% -125.6%
Cash From Investing Activities $10.98M -$22.61M $15.38M
YoY Change -33.75% 217.44% -122.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities 1.229M $169.0K 1.015M
YoY Change -44.56% -71.88% -98.61%
NET CHANGE
Cash From Operating Activities -14.84M -$13.51M -12.71M
Cash From Investing Activities 10.98M -$22.61M 15.38M
Cash From Financing Activities 1.229M $169.0K 1.015M
Net Change In Cash -2.635M -$36.09M 3.679M
YoY Change -124.77% 122.54% -238.31%
FREE CASH FLOW
Cash From Operating Activities -$14.84M -$13.51M -$12.71M
Capital Expenditures -$2.001M $2.274M -$1.775M
Free Cash Flow -$12.84M -$15.79M -$10.94M
YoY Change 116.2% 39.27% 54.94%

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CY2022Q1 sibn Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
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CY2021Q1 sibn Proceeds From Maturity Of Marketable Securities
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CY2022Q1 us-gaap Payments To Acquire Marketable Securities
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CY2021Q1 us-gaap Payments To Acquire Marketable Securities
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CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q1 us-gaap Proceeds From Stock Options Exercised
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CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 sibn Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
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CY2021Q1 sibn Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
The Company and Nature of Business<div style="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 musculoskeletal disorders of the sacropelvic anatomy. The Company introduced its first generation iFuse implant 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 selling stockholders 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 stockholders 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><div style="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:115%">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 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" in this report. 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.</span></div>
CY2022Q1 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. Significant accounting estimates and management judgments reflected in the condensed consolidated financial statements primarily includes the fair value of performance-based restricted stock unit awards. 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.
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22439000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20442000 USD
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OperatingLeaseLiabilityCurrent
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103686000 USD
CY2022Q1 sibn Available For Sale Debt Securities Current Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesCurrentAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2022Q1 sibn Available For Sale Debt Securities Current Accumulated Gross Unrealized Loss Before Tax
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CY2022Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Current
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103402000 USD
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CY2022Q1 sibn Marketable Securities Accumulated Gross Unrealized Gain Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
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MarketableSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
284000 USD
CY2022Q1 sibn Marketable Securities Fair Value
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125180000 USD
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CashEquivalentsAtCarryingValue
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CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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83595000 USD
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AvailableForSaleDebtSecuritiesCurrentAccumulatedGrossUnrealizedGainBeforeTax
4000 USD
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39000 USD
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CY2021Q4 sibn Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
141424000 USD
CY2021Q4 sibn Marketable Securities Accumulated Gross Unrealized Gain Before Tax
MarketableSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4000 USD
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MarketableSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
39000 USD
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141389000 USD
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DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
300000 USD
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InventoryFinishedGoods
13900000 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
800000 USD
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PropertyPlantAndEquipmentGross
17916000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15958000 USD
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7640000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6966000 USD
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PropertyPlantAndEquipmentNet
10276000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8992000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
700000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
300000 USD
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EmployeeRelatedLiabilitiesCurrent
7250000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10055000 USD
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497000 USD
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AccruedProfessionalFeesCurrent
995000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1422000 USD
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1303000 USD
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9169000 USD
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12353000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
264000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
263000 USD
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
14000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
6000 USD
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
258000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
264000 USD
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409000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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104000 USD
CY2021Q1 us-gaap Variable Lease Cost
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CY2022Q1 us-gaap Lease Cost
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CY2021Q1 us-gaap Lease Cost
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285000 USD
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CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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P3Y9M3D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y11M23D
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1213000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1544000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1491000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
990000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
531000 USD
CY2022Q1 sibn Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
10000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
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5779000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
604000 USD
CY2022Q1 us-gaap Operating Lease Liability
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5175000 USD
CY2022Q1 us-gaap Purchase Obligation
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600000 USD
CY2021Q4 us-gaap Purchase Obligation
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1200000 USD
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35700000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35700000 USD
CY2022Q1 us-gaap Deferred Finance Costs Net
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93000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
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CY2022Q1 us-gaap Debt Instrument Fee Amount
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583000 USD
CY2021Q4 us-gaap Debt Instrument Fee Amount
DebtInstrumentFeeAmount
627000 USD
CY2022Q1 us-gaap Long Term Debt
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35024000 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
34973000 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
35024000 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
34973000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7292000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2022Q1 us-gaap Debt Instrument Carrying Amount
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35700000 USD
CY2021Q4 sibn Social Security Tax Employer Deferral Cares Act
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500000 USD
CY2022Q1 sibn Social Security Tax Employer Deferral Cares Act
SocialSecurityTaxEmployerDeferralCARESAct
500000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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1963360 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2009513 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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8.73
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.85
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
11355 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
14.46
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.86
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1000000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2021Q4 sibn Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercise Common Stock Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExerciseCommonStockSubjectToRepurchase
0 shares
CY2022Q1 sibn Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercise Common Stock Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExerciseCommonStockSubjectToRepurchase
0 shares
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5507000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4030000 USD
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33792326 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33792326 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32691578 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32691578 shares
CY2022Q1 us-gaap Net Income Loss
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-17410000 USD
CY2021Q1 us-gaap Net Income Loss
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-12242000 USD
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
CY2021Q1 us-gaap Earnings Per Share Basic
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-0.37
CY2021Q1 us-gaap Earnings Per Share Diluted
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-0.37
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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4452030 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4379350 shares

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