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Bioventus
🇺🇸 NASDAQ:BVS
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Jul 02, 2022

Bioventus Q2 2022 Earnings Report

Reported strong growth, driven by acquisitions and organic business expansion.

Key Takeaways

Bioventus reported a net sales increase of 27.8% year-over-year to $140.3 million in Q2 2022. The company's net loss improved to ($8.0) million, and adjusted EBITDA increased to $22.9 million. The company updated its full-year 2022 financial guidance.

Net Sales of $140.3 million, up 27.8% year-over-year as reported.

Net Loss of ($8.0) million, compared to ($10.8) million in prior-year period.

Adjusted EBITDA of $22.9 million, compared to $19.9 million in prior-year period.

Non-GAAP earnings per share of Class A common stock of $0.10, compared to $0.11 in prior-year period.

Total Revenue
$140M
Previous year: $110M
+27.8%
EPS
$0.1
Previous year: $0.16
-37.5%
Adjusted EBITDA
$22.9M
Previous year: $19.9M
+15.2%
Non-GAAP Gross Profit
$108M
Previous year: $84M
+28.3%
Gross Profit
$96.7M
Previous year: $76.3M
+26.7%
Cash and Equivalents
$41M
Previous year: $136M
-69.9%
Free Cash Flow
$909K
Previous year: $16.1M
-94.3%
Total Assets
$1.21B
Previous year: $647M
+86.9%

Bioventus

Bioventus

Bioventus Revenue by Geographic Location

Forward Guidance

Bioventus updated its full year 2022 financial guidance, expecting net sales of $547.5 million to $562.5 million and adjusted EBITDA of $94 million to $104 million. It also introduced Non-GAAP EPS guidance of $0.47 to $0.57.

Positive Outlook

  • Net sales of $547.5 million to $562.5 million, representing year-over-year growth of approximately 27% to 31%.
  • Adjusted EBITDA of $94 million to $104 million, compared to $80.8 million for the year ended December 31, 2021.
  • Non-GAAP EPS of $0.47 to $0.57, compared to $0.75 for the year ended December 31, 2021.
  • The company is now providing Non-GAAP EPS guidance in light of the completion of the CartiHeal acquisition on July 12, 2022.
  • Guidance reflects management's current expectations regarding the impact of COVID-19 on its business.

Challenges Ahead

  • Adjusted EBITDA guidance update from the prior guidance of $94 million to $107 million due to the inclusion of expenses related to CartiHeal.
  • COVID-19 pandemic could cause the Company’s future operating results to be different from current expectations, particularly if the impact of the pandemic worsens.
  • The company is highly dependent on a limited number of products.
  • The severity and duration of the COVID-19 pandemic are outside of the Company’s control.
  • The company may be unable to successfully commercialize newly developed or acquired products or therapies in the United States

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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