In This Article:
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Revenue: $124 million, declined 4% due to divestiture; organic growth of 5%.
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Adjusted Earnings Per Share (EPS): $0.08, increased 33%.
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Adjusted EBITDA: Over $19 million, $3 million lower than prior year.
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Gross Margin: 75%, 70 basis points lower than last year.
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Net Income: Adjusted net income of $6 million, increased 32% from prior year.
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Cash on Hand: $23 million.
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Outstanding Debt: $346 million.
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Operating Cash Flow: Outflow of $19 million due to timing of annual payments.
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Surgical Solutions Revenue Growth: 7%, driven by double-digit growth in Ultrasonics.
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Pain Treatments Revenue Growth: 4%, impacted by distributor purchasing patterns.
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Restorative Therapies Organic Growth: 4%, excluding divestiture impact.
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International Segment Revenue Decline: 12%, with organic growth of 1%.
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2025 Financial Guidance: Organic revenue growth of 6% to 8%, adjusted EBITDA of $112 million to $116 million, EPS of $0.64 to $0.68.
Release Date: May 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Bioventus Inc (NASDAQ:BVS) reported first quarter revenue of $124 million, reflecting above-market organic growth of 5%.
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The company achieved a 33% increase in adjusted earnings per share, driven by strong gross margins and lower interest expenses.
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Surgical Solutions revenue advanced by 7%, with double-digit growth in Ultrasonics due to market expansion and new capital placements.
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Bioventus Inc (NASDAQ:BVS) expanded its pain treatment portfolio by signing an exclusive distribution agreement for the XCELL PRP system, entering a large and fast-growing market.
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The company is on track to achieve at least 100 basis points of adjusted EBITDA margin expansion for the year, supported by strong gross margins and revenue growth acceleration in the second half.
Negative Points
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First quarter revenue declined by 4% due to the divestiture of the advanced rehabilitation business.
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Adjusted EBITDA was $3 million lower than the prior year, impacted by the divestiture and a $1.1 million foreign currency loss.
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International segment revenue declined by 12%, with only 1% organic growth, affected by the timing of distributor orders.
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Adjusted gross margin decreased by 70 basis points due to channel mix and higher freight costs.
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Operating cash flow was an outflow of $19 million, influenced by timing of employee bonus payments and other annual costs.
Q & A Highlights
Q: Can you provide an update on the competitive landscape in the pain treatment market, particularly regarding single-injection versus multi-injection therapies? A: Robert Claypoole, President and CEO, explained that there is a shift from multi-injection to single-injection therapies. Bioventus is well-positioned with DUROLANE, which has a strong clinical value proposition and contract backbone, leading to double-digit growth in the first quarter. The company expects this trend to continue, supported by their dedicated sales force.