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Apr 03, 2021
Bioventus Q1 2021 Earnings Report
Reported better-than-expected first quarter revenue results, driven primarily by accelerating U.S. sales growth trends and completed acquisition of Bioness.
Key Takeaways
Bioventus Inc. reported a 4.0% increase in net sales, a 133.9% increase in net income, and completed the acquisition of Bioness. They also raised full year 2021 revenue guidance by $4 million.
Net Sales of $81.8 million, up 4.0% year-over-year.
Net Income of $24.5 million, up 133.9% year-over-year.
Adjusted EBITDA of $11.1 million, down 22.3% year-over-year.
Completed acquisition of Bioness on March 30, 2021.
Revenue by Geographic Location
Forward Guidance
The Company now expects net sales of $394 million to $406 million, up approximately 23% to 26% year-over-year.
Positive Outlook
- Net sales from legacy Bioventus Inc. of $364 million to $374 million, representing Organic Revenue Growth in the range of approximately 13% to 16% year-over-year.
- Net sales from the acquisition of Bioness Inc., following the closing date of March 30, 2021, of approximately $30 million to $32 million.
- Net income from legacy Bioventus, Inc. of $33.8 million to $38.2 million
- Non-GAAP net income from legacy Bioventus Inc. of $69.0 million to $71.7 million
- Adjusted EBITDA from legacy Bioventus, Inc. of $81.2 million to $85.4 million
Challenges Ahead
- Net income of $12.0 million to $19.2 million, compared to net income of $14.7 million for the twelve months ended December 31, 2020.
- Net loss from the acquisition of Bioness, Inc., following the closing date of March 30, 2021, of approximately ($21.8) million to ($19.0) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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