In This Article:
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Revenue: $154 million in Q4, a 14% increase year-over-year.
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Organic Revenue Growth: 14% for 2024, with Q4 growth nearly 14%.
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Surgical Solutions Revenue: Accelerated by 18% in Q4.
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Pain Treatments Revenue: Increased 17% in Q4.
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Adjusted EBITDA: $109 million for 2024, a 23% increase; $28 million in Q4, up $6 million year-over-year.
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Adjusted EBITDA Margin: Expanded by 160 basis points for the year.
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Adjusted Gross Margin: 74% in Q4, expanded by 230 basis points year-over-year.
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Adjusted Net Income: $13 million in Q4, more than doubled year-over-year.
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Adjusted Earnings Per Share: $0.15 in Q4, almost doubled year-over-year.
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Debt Repayment: Nearly $50 million paid down in Q4.
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Net Leverage Ratio: Reduced to slightly above 3 turns at the end of 2024.
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Cash on Hand: $42 million at the end of Q4.
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Operating Cash Flow: $19 million in Q4, an 86% increase year-over-year.
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2025 Financial Guidance: Net sales expected between $560 million to $570 million; Adjusted EBITDA between $112 million and $116 million; Adjusted EPS between $0.64 to $0.68.
Release Date: March 11, 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 a strong financial performance in 2024, with double-digit organic revenue growth in all four quarters.
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The company achieved a 14% revenue growth in the fourth quarter, driven by strong performance in surgical solutions and pain treatments.
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Bioventus Inc (NASDAQ:BVS) successfully divested its advanced rehabilitation business, optimizing its global portfolio.
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The company paid down nearly $50 million in debt in the fourth quarter, improving its liquidity position.
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Bioventus Inc (NASDAQ:BVS) expanded its adjusted EBITDA margin by 160 basis points, demonstrating improved profitability.
Negative Points
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The company faces challenges in maintaining growth in its restorative therapies segment, with sales being flat compared to the prior year.
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Bioventus Inc (NASDAQ:BVS) anticipates a headwind in the first quarter of 2025 due to higher year-end orders by certain distributors in the previous quarter.
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The company expects its adjusted EBITDA to be lower in the first half of 2025 compared to the prior year due to the timing of growth investments.
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Bioventus Inc (NASDAQ:BVS) acknowledges that its international expansion will require more time and effort than initially anticipated.
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The company faces competitive pressures in the pain treatments market, particularly in pricing strategies.
Q & A Highlights
Q: Can you walk through the guidance assumptions by segment for 2025? A: Mark Singleton, CFO, explained that for 2025, Bioventus expects above-market growth with a midpoint guidance of 7%. Pain treatments are expected to grow above market, restorative therapies in low-single digits, and surgical solutions, including ultrasonics and bone graft substitutes, are projected to achieve double-digit growth.