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Jul 01, 2023
Bioventus Q2 2023 Earnings Report
Bioventus reported second quarter financial results and introduced full year 2023 financial guidance.
Key Takeaways
Bioventus reported net sales of $137.1 million, a decrease of 2.3% year-over-year. Net loss from continuing operations was $4.7 million, and adjusted EBITDA increased 26.1% to $28.2 million. The company also closed the sale of its Wound Business for $31.0 million and repaid $60.3 million of debt.
Net sales decreased by 2.3% year-over-year to $137.1 million.
Net loss from continuing operations was $4.7 million, an improvement from the prior-year period.
Adjusted EBITDA increased by 26.1% to $28.2 million.
The company closed the sale of its Wound Business, generating $31.0 million in net proceeds.
Forward Guidance
For the twelve months ending December 31, 2023, the company expects net sales of $490 million to $505 million, adjusted EBITDA of $75 million to $80 million, and Non-GAAP EPS of ($0.24) to ($0.20).
Positive Outlook
- Net sales of $490 million to $505 million
- Adjusted EBITDA of $75 million to $80 million
Challenges Ahead
- Non-GAAP EPS of ($0.24) to ($0.20)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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