SI-BONE, Inc. (SIBN) Covered Calls

SI-BONE is a global medical device leader pioneering minimally invasive surgical solutions for the sacroiliac joint, sacrum, and pelvis. The company’s flagship iFuse Implant System is the gold standard for treating SI joint dysfunction, supported by over 100 peer-reviewed publications. Through constant innovation and a robust patent portfolio, SI-BONE provides orthopedic and neurospine surgeons with advanced technologies to improve patient outcomes in complex musculoskeletal conditions.

You can sell covered calls on SI-BONE, Inc. to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for SIBN (prices last updated Mon 4:16 PM ET):

Want to make money with covered calls?  Sign Up For A Free Trial

SI-BONE, Inc. (SIBN) is a commercial-stage medical technology company that has transformed the treatment of the sacroiliac (SI) joint. The company’s primary product, the iFuse Implant System, consists of triangular titanium implants designed to stabilize and fuse the SI joint. This unique shape provides significantly greater rotational resistance and surface area for osteointegration compared to traditional screws, addressing a major cause of lower back pain that is often misdiagnosed.

In 2026, SI-BONE continues to scale its presence in the pelvic trauma and adult deformity markets. The company reported record 2025 revenue of $200.9 million, representing 20% growth, and reached a critical milestone by achieving positive adjusted EBITDA. With a direct sales force of nearly 90 territory managers and over 300 third-party agents, SI-BONE maintains an industry-leading gross margin of approximately 79%, driven by high surgeon adoption and favorable reimbursement tailwinds.

Competitive Landscape

SI-BONE operates in the specialized orthopedic and spinal surgery market, where it maintains a dominant "first-mover" advantage in SI joint fusion. Its most direct competitors include Alphatec Holdings and Orthofix Medical, both of which offer competing spinal and sacroiliac stabilization systems. In the broader med-tech space, the company is often compared to high-growth peers like Tandem Diabetes Care and Avanos Medical.

The company also monitors the activities of large-cap medical device giants such as Zimmer Biomet and Stryker. SI-BONE’s competitive moat is reinforced by its clinical evidence base, which includes the only Level 1 randomized controlled trials in the SI joint space. Furthermore, a 2026 strategic partnership with Smith+Nephew has accelerated the company’s penetration into the global trauma market, providing a powerful distribution channel that smaller niche players cannot match.

Strategic Outlook and Innovation

The strategic outlook for SI-BONE in 2026 is defined by "The Third Breakthrough," a highly anticipated new device on track for commercialization in late 2026. This follows the successful "alpha launch" of the INTRA Ti system in early 2026, which targets the interventional spine physician market. These product expansions are expected to grow the company’s total addressable market (TAM) to over $3 billion by providing solutions for a wider variety of pelvic and sacral pathologies.

Management is also capitalizing on favorable 2026 reimbursement changes, including a 17% increase in Medicare payments for office-based lab (OBL) procedures. By migrating cases to lower-cost outpatient settings, SI-BONE is improving the economic attractiveness of its procedures for both surgeons and payors. With over $145 million in cash and a disciplined operating expense profile, the company is well-positioned to achieve sustained free cash flow positivity by the end of 2027 while maintaining mid-teens revenue growth.

Want more examples? SHYG Covered Calls | SID Covered Calls