Business
Bioventus Reschedules Earnings Call to May 16, 2023; Files for Extension to File Form 10-Q for the Period Ended April 1, 2023
DURHAM, N.C., May 11, 2023 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing,
About this update from Bioventus Inc.
[{"type":"text","content":"DURHAM, N.C., May 11, 2023 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing, announced today the Company plans to file Form 12b-25, Notification of Late Filing, for its Quarterly Report on Form 10-Q for the period ended April 1, 2023, on May 11, 2023. Due to complexity of its tax structure and the associated impact on the calculation of noncontrolling equity interest in the equity section of the Company’s balance sheet, additional time is required to complete the calculation and file the Company’s financial results. The resulting noncontrolling equity calculations should have no impact on the Company’s revenue or Adjusted EBITDA for the period. At this time, the Company expects to report revenue for the quarter ended April 1, 2023, of approximately $119 million and Adjusted EBITDA of approximately $17 million. The Company expects to be in compliance with all of its financial covenants under its bank agreement as of the end of the quarter. The Company now plans to report financial results for the first quarter of fiscal year 2023 before the market opens on Tuesday, May 16, 2023, rather than Thursday, May 11, 2023, as previously announced. The Company’s management will host a conference call at 8:30 a.m. Eastern Time on Tuesday, May 16, 2023, as well to discuss the results and provide a business update. To participate in the conference call, dial 1-833-636-0497 (domestic) or +1-412-902-4241 (international) and refer to the Bioventus Inc. Conference Call. As permitted by the Form 12b-25 filing, the Company expects to file its Form 10-Q for the period ended April 1, 2023, by May 16, 2023. About Bioventus Bioventus delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. The Innovations for Active Healing from Bioventus include offerings for Pain Treatments, Restorative Therapies and Surgical Solutions. Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.bioventus.com, and follow the Company on LinkedIn and Twitter. Bioventus and the Bioventus logo are registered trademarks of Bioventus LLC. For...