SI-BONE (SIBN) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Operational and financial performance

• Achieved record worldwide and U.S. revenue in Q2, with U.S. revenue and procedure growth both at 21% year-over-year.

• Active physician base grew 23%, marking the 14th consecutive quarter of double-digit growth.

• Territory productivity rose 24% to $1.7 million per territory, up from under $1 million three years ago.

• Adjusted EBITDA improved 43% to $2.6 million, the lowest loss since going public.

• Announced timeline to reach adjusted EBITDA breakeven in Q4 2024 and remain positive through 2025.

Product innovation and market expansion

• Launched Granite 9.5 in Q2, expanding the Granite product line to address surgeon demand for smaller implants.

• Granite 9.5 enables use of two implants per side in deformity procedures, supporting higher ASP and broader adoption.

• TORQ product continues to drive adoption among interventionalists, supported by favorable reimbursement and clinical data.

• New trauma product, complementary to TORQ, set for launch in Q4 2024, targeting a $300 million market.

• Ongoing clinical studies (STACI, SAFFRON) to support product efficacy and market expansion, with key readouts expected in 2024 and 2025.

Commercial strategy and sales force productivity

• Hybrid sales model leverages both direct reps and agency distributors, with 85 territory managers and 200 agents.

• Sales force productivity increased 24% year-over-year, driven by product launches and expanded agent network.

• Agency distributors primarily focus on deformity and degenerative markets, with growing interest in trauma.

• Hybrid model allows reps to focus on sales while agents provide OR coverage, enhancing efficiency and growth.