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Shoulder Innovations, Inc. balance sheet

At the end of fiscal 2025, Shoulder Innovations, Inc. had total assets of $170m, total liabilities of $29.2m and shareholders' equity of $141m. It held $26.9m in cash against $14.9m of debt: net cash of $12.0m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents62724
Receivables5811
Inventory142223
Total current assets35157137
Total assets43170152
Accounts payable596
Total current liabilities81413
Long-term debt151515
Total debt151515
Total liabilities232928
Shareholders' equity−55141124
Non-controlling interests and other (assets − liabilities − equity)74——
Net debt (negative = net cash)9−12−10
Shares outstanding——21m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Shoulder Innovations, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Shoulder Innovations, Inc.