Shoulder Innovations Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	26.87	6.12	6.24
Short-Term Investments	97.43	8.92	26.58
Cash & Short-Term Investments	124.31	15.04	32.81
Cash Growth	726.28%	-54.15%	-
Receivables	8.27	5.12	4.69
Inventory	21.59	13.96	9.92
Prepaid Expenses	1.52	0.43	0.42
Other Current Assets	1.48	0.57	-
Total Current Assets	157.17	35.13	47.85
Property, Plant & Equipment	12.64	7.56	5.75
Other Intangible Assets	0.1	0.4	0.7
Total Assets	169.91	43.08	54.29
Accounts Payable	7.65	4.05	1.27
Accrued Expenses	4.84	2.97	2.6
Current Portion of Leases	0.06	0.05	0.04
Other Current Liabilities	1.64	0.58	0.36
Total Current Liabilities	14.2	7.65	4.28
Long-Term Debt	14.91	14.66	14.35
Long-Term Leases	0.05	0.03	0.07
Total Liabilities	29.16	22.33	18.71
Common Stock	0.02	0	0
Additional Paid-In Capital	238.01	2.15	1.33
Retained Earnings	-97.4	-57.04	-41.42
Comprehensive Income & Other	0.12	0.2	0.36
Total Common Equity	140.75	-54.7	-39.74
Shareholders' Equity	140.75	20.75	35.59
Total Liabilities & Equity	169.91	43.08	54.29
Total Debt	15.02	14.73	14.47
Net Cash (Debt)	109.28	0.31	18.35
Net Cash Growth	34702.87%	-98.29%	-
Net Cash Per Share	12.60	4.87	319.91
Filing Date Shares Outstanding	20.65	0.08	0.06
Total Common Shares Outstanding	20.62	0.08	0.06
Working Capital	142.97	27.48	43.57
Book Value Per Share	6.82	-652.05	-692.84
Tangible Book Value	140.65	-55.1	-40.44
Tangible Book Value Per Share	6.82	-656.82	-705.04
Machinery	19.24	11.58	8.17
Leasehold Improvements	0.17	0.15	0.15

Source: S&P Capital IQ. Standard template. Financial Sources.