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Sep 30, 2023
Bioventus Q3 2023 Earnings Report
Financial results for the third quarter of 2023 were reported, and full year 2023 financial guidance was raised.
Key Takeaways
Bioventus reported Q3 net sales of $120.8 million, a 6.1% decrease year-over-year. The company experienced a net loss from continuing operations of $8.8 million, but adjusted EBITDA from continuing operations was $21.7 million. Improved performance in Pain Treatments and continued cost management contributed to results exceeding expectations, leading to raised full-year earnings guidance.
Net sales were $120.8 million, down 6.1% year-over-year.
Net loss from continuing operations was $8.8 million, an improvement from the prior-year period's $101.0 million loss.
Adjusted EBITDA from continuing operations was $21.7 million, a slight decrease of 0.9% year-over-year.
The company raised its full-year earnings guidance due to strong execution and improved visibility.
Bioventus
Bioventus
Bioventus Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
For the twelve months ending December 31, 2023, the Company now expects net sales of $498 million to $505 million, Adjusted EBITDA of $84 million to $87 million, and Non-GAAP EPS of ($0.12) to ($0.09).
Revenue & Expenses
Visualization of income flow from segment revenue to net income