SHOULDER INNOVATIONS, INC.
For the period ended Jun 30, 2025. Filed Sep 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Sep 9, 2025
SI$21.93+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows (unaudited)
Condensed Statements of Cash Flows
(amounts in thousands)
| Six Months Ended June 30, | 2025 | 2024 |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Net loss | $(23,858) | $(7,772) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | 1,385 | 1,013 |
| Amortization of debt discounts | 126 | 150 |
| Stock compensation expense | 317 | 338 |
| Realized gain (loss) on marketable securities | (207) | (49) |
| Change in fair value of warrant liabilities and Series E purchase option | 13,134 | 50 |
| Other | 99 | 134 |
| Change in Operating Assets and Liabilities | ||
| Trade accounts receivable | (1,820) | 148 |
| Inventory | (3,126) | (1,011) |
| Prepaid expenses | (260) | 56 |
| Accounts payable | 982 | 780 |
| Other current assets and liabilities | 1,954 | 182 |
| Net Cash Used in Operating Activities | (11,274) | (5,981) |
| Cash Flows from Investing Activities | ||
| Fixed asset purchases | (2,311) | (2,085) |
| Purchases of marketable securities | (20,477) | (4,047) |
| Sales of marketable securities | 16,909 | 11,542 |
| Net Cash (Used) Provided in Investing Activities | (5,879) | 5,410 |
| Cash Flows from Financing Activities | ||
| Proceeds from exercise of common stock options | 151 | — |
| Proceeds from exercise of preferred stock warrants | 362 | — |
| Proceeds from series E convertible preferred stock, net of issuance cost | 39,553 | — |
| Payment of deferred IPO offering costs | (1,982) | — |
| Net Cash Provided in Financing Activities | 38,084 | — |
| Net Change in Cash for Period | 20,931 | (571) |
| Cash and Cash Equivalents, beginning of year | 6,123 | 6,236 |
| Cash and Cash Equivalents, end of year | $27,054 | $5,665 |
| Supplemental Cash Flows information | ||
| Cash paid for interest | $863 | $900 |
| Non-Cash Investing and Financing Activities | ||
| Series E convertible preferred stock issuance cost in other current liabilities | $45 | $— |
| Series E second tranche right equity conversion | $11,937 | $— |
| Preferred stock warrant liability equity conversion | $418 | $— |
| Unpaid IPO offering costs included in accounts payable and accrued liabilities | $1,835 | $— |
| Capital expenditures included in accounts payable | $441 | $135 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.