Shoulder Innovations, Inc.
Shoulder Innovations, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $47.3 million, up 49.6% from fiscal 2024. In the quarter to June 2026, revenue grew 56.0%, EPS grew 99.7%, free cash flow fell 52.4% and total debt was flat, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow SI
Shoulder Innovations, Inc. (SI) Piotroski F-score
Shoulder Innovations, Inc.'s Piotroski F-score for fiscal 2025 cannot be worked out: needs three fiscal years.
Piotroski F-score, annual
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (37.90%) | — | Fail | 0 |
| Positive operating cash flow | (28.61m) | (14.14m) | Fail | 0 |
| Rising return on assets | (37.90%) | — | n/a | — |
| Cash flow above net income | 11.75m | 1.48m | Pass | 1 |
| Falling long-term leverage | 0.14 | — | n/a | — |
| Rising current ratio | 11.07 | 4.59 | Pass | 1 |
| No new shares issued | 8,673,100 | 64,500 | Fail | 0 |
| Rising gross margin | 76.51% | 76.97% | Fail | 0 |
| Rising asset turnover | 0.44 | — | n/a | — |
| Piotroski F-score | n/a — needs three fiscal years | — | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BWAY Brainsway Ltd. Sponsored ADR compare | 6 |
| NPCE NeuroPace, Inc. compare | 5 |
| VMD Viemed Healthcare, Inc. compare | 5 |
| CERS Cerus Corporation compare | 5 |
| OFIX ORTHOFIX MEDICAL INC. compare | 5 |
| SENS Senseonics Holdings, Inc. compare | 5 |
| RCEL Avita Medical Inc. compare | 3 |
| SI Shoulder Innovations, Inc. | — |
| CV CapsoVision, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover