Bioventus Inc - A · Q3 2021 earnings

Briefing

Reported third quarter results and updated full-year 2021 financial guidance.

Bioventus reported net sales of $108.9 million, a 26.8% increase year-over-year, driven by acquisitions, strong commercial execution, and recovery from the COVID-19 pandemic. However, the company experienced a net loss of ($2.3) million, compared to a net income of $8.0 million in the prior year. The company updated its full-year net sales guidance to $425-$430 million.

• Net Sales of $108.9 million, up 26.8% year-over-year.
• Net Sales from legacy Bioventus Inc. of $98.1 million, representing organic revenue growth of 14.2% year-over-year.
• Net Sales from the acquisition of Bioness Inc. of $10.8 million.
• Net Loss of ($2.3) million, compared to Net Income of $8.0 million in prior year.

Headline financials

Revenue & EPS history

The Company now expects net sales of $425 million to $430 million, up approximately 32% to 34% year-over-year. Net income of $1.8 million to $3.7 million, compared to net income of $14.7 million for the twelve months ended December 31, 2020. Non-GAAP net income of $72.1 million to $75.6 million, compared to $47.4 million for the twelve months ended December 31, 2020. Adjusted EBITDA of $77.8 million to $82.0 million, compared to $72.4 million for the twelve months ended December 31, 2020.