SI-BONE (NYSE:SIBN) Q1 2019 Earnings Conference Call Transcript

May 08, 2019 • 04:30 pm ET

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SI-BONE (NYSE:SIBN) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

And good afternoon and welcome to SI bone's First Quarter 2019 Earnings Conference Call. At this time, all participants are in listen-only mode. We will be facilitating a question-and-answer session towards the end of today's call. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Carrie Mendivil from the Gilmartin Group for few introductory comments.

Executive
Carrie Mendivil

Thank you all for participating in today's call. Joining me today is Jeffrey W. Dunn, President and Chief Executive Officer and Laura A. Francis, Chief Financial Officer of SI-BONE earlier today I bone released financial results for the quarter ended March 31, 2018. A copy of the press release is available on the company's website. Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events, results or performance are related our forward-looking statements. All trends in our forward-looking future financial expectations, which include expectations for hiring active surgeons reimbursement decisions and guidance for revenue are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual

Operator
Operator

Results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the Risk Factors section of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14 in 2018. I disclaims any intention or obligation, except as required by law to update or revise any financial projections or forward-looking statements whether because of new information, future events or otherwise. This conference call is time-sensitive information and is accurate only as of the live broadcast today May 8 2019. With that, I'll turn the call over to Jeff.

Executive
Jeffrey W. Dunn

Thanks, Gary. Good afternoon and thank you for joining us I'm pleased to welcome you bones first quarter 2019 Earnings Call. During the quarter, we delivered a solid operational performance driven by our growing educational efforts, ongoing investment in innovation expanding field organization and increasing payer coverage total revenue for the first quarter of 2019 was approximately $15 million, up 18% compared to the first quarter 2018 and 5% points higher than the growth of 13% in the 4th quarter of 2018. US revenue for the first quarter was $13.5 million, representing 19% growth over the same period of the prior year. International revenue was $1.5 million.

Turning to our business, we are continuing to expand our commercial footprint and simultaneously educate surgeons on FI joint dysfunction and to a few years ago act during dysfunction was largely overlooked when treating lower back pain.