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How SHOULDER INNOVATIONS, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$47.3M · 100%Cost of revenue$11.1M · 23%Gross profit$36.2M · 77%Operating income−$26.3M · −56%Income before tax−$40.4M · −85%Income tax$0 · 0%Net income−$40.4M · −85%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$47.3M100%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
Cost of revenue$11.1M23%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
$36.2M77%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
−$26.3M−56%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
Income before tax−$40.4M−85%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
Income tax$00%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
−$40.4M−85%
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001699350-26-000011 · filed Mar 10, 2026
· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set
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