Bioventus Inc - A · Q3 2023 earnings

Briefing

Financial results for the third quarter of 2023 were reported, and full year 2023 financial guidance was raised.

Bioventus reported Q3 net sales of $120.8 million, a 6.1% decrease year-over-year. The company experienced a net loss from continuing operations of $8.8 million, but adjusted EBITDA from continuing operations was $21.7 million. Improved performance in Pain Treatments and continued cost management contributed to results exceeding expectations, leading to raised full-year earnings guidance.

• Net sales were $120.8 million, down 6.1% year-over-year.
• Net loss from continuing operations was $8.8 million, an improvement from the prior-year period's $101.0 million loss.
• Adjusted EBITDA from continuing operations was $21.7 million, a slight decrease of 0.9% year-over-year.
• The company raised its full-year earnings guidance due to strong execution and improved visibility.

Headline financials

Revenue & EPS history

For the twelve months ending December 31, 2023, the Company now expects net sales of $498 million to $505 million, Adjusted EBITDA of $84 million to $87 million, and Non-GAAP EPS of ($0.12) to ($0.09).