The Tip Desk

SHOULDER INNOVATIONS, INC.

Company Stats

Market Cap
$393.5M
as of Sep 30, 2026
Shares Outstanding
20.8M
Free Float
36.8%

Income Statement

Revenue
$47.3M
Operating Income
-$26.3M
Net Income
-$40.4M
EBITDA
-$23.4M

Cash Flow

Free Cash Flow
-$36.0M
FCF Yield
-9.2%
Owner FCF Yield
-9.4%

Balance Sheet

Cash & Equivalents
$26.9M

Cash Flow by Year

YearRevenueFCFMargin
FY2025$47.3M-$36.0M-76.1%
FY2024$31.6M-$18.2M-57.4%

Annual filing data through FY ended December 31, 2025; shares and float as of November 3, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.

Earnings

Other Coverage