SI-Bone on May 9 posted $22.4 million in first-quarter 2022 sales, a 10 percent increase year over year.
Four things to know:
1. The company's U.S. revenue was $20.4 million in the first quarter, a 9 percent increase from the same time in 2021, according to a May 9 news release.
2. Milestones for SI-Bone in the first quarter include a new technology add-on payment proposed by CMS and breakthrough device designation for the iFuse Bedrock Granite.
3. The company's U.S. commercial organization was expanded to 18 sales regions.
4. SI-Bone saw a gross margin of 87 percent in the first quarter. It was affected by lower average selling prices and an increase in operational costs, the release said.