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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.
Bioventus
Bioventus
Bioventus Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com 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.
- Non-GAAP net loss from the acquisition of Bioness, Inc., following the closing date of March 30, 2021, of approximately ($9.3) million to ($6.5) million.
- Adjusted EBITDA loss from the acquisition of Bioness, Inc., following the closing date of March 30, 2021, of approximately ($7.3) million to ($4.5) million.
- Net sales of $394 million to $406 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income