SHOULDER INNOVATIONS, INC.
For the period ended Sep 30, 2025. Filed Nov 12, 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.
Sep 30, 2025 · Filed Nov 12, 2025
SI$21.46+4.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $54,934 | $6,123 |
| Marketable securities | 82,354 | 8,921 |
| Trade accounts receivable, net of allowance for credit losses | 7,079 | 5,122 |
| Inventories, net | 19,358 | 13,955 |
| Prepaid expenses | 1,710 | 431 |
| Other current assets | 1,175 | 573 |
| Total Current Assets | 166,610 | 35,125 |
| Property and equipment, net | 10,846 | 7,487 |
| Operating lease right-of-use asset | 131 | 68 |
| Intangible assets, net | 175 | 400 |
| Total Assets | 177,762 | 43,080 |
| Liabilities, Convertible Preferred Stock, and Stockholders’ Equity (Deficit) | ||
| Current Liabilities | ||
| Accounts payable ($1,033 and $813 to related parties, respectively) | 8,877 | 4,860 |
| Current operating lease obligations | 70 | 47 |
| Accrued liabilities | 6,072 | 2,740 |
| Total Current Liabilities | 15,019 | 7,647 |
| Long-Term Liabilities | ||
| Preferred stock warrant liability | — | 970 |
| Long-term debt | 14,848 | 14,658 |
| Other long-term liabilities | 63 | 25 |
| Total Long-Term Liabilities | 14,911 | 15,653 |
| Total Liabilities | 29,930 | 23,300 |
| Commitments and contingencies (note 8) | ||
| Convertible Preferred Stock | ||
| Series Seed, $0.001 par value, no and 16,840,400 shares authorized, and no and 15,851,401 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | 1,337 |
| Series A, $0.001 par value, no and 22,399,370 shares authorized, and no and 22,399,370 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | 5,600 |
| Series B, $0.001 par value, no and 6,913,964 shares authorized, and no and 5,913,964 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | 2,200 |
| Series C, $0.001 par value, no and 50,116,284 shares authorized, and no and 50,116,284 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | 21,550 |
| Series D, $0.001 par value, no and 83,403,626 shares authorized, and no and 80,909,169 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | 43,788 |
| Total Convertible Preferred Stock | — | 74,475 |
| Stockholders’ Equity (Deficit) | ||
Condensed Balance Sheets
| Common stock, $0.001 par value, 730,000,000 and 212,366,763 shares authorized and 20,584,787 and 83,882 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. | 21 | 1 |
|---|---|---|
| Preferred stock, $0.001 par value, 20,000,000 and no shares authorized and no shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. | — | — |
| Additional paid-in capital | 237,400 | 2,148 |
| Accumulated deficit | (89,628) | (57,041) |
| Accumulated other comprehensive income | 39 | 197 |
| Total Stockholders’ Equity (Deficit) | 147,832 | (54,695) |
| Total Liabilities, Convertible Preferred Stock, and Stockholders’ Equity (Deficit) | $177,762 | $43,080 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.