Bioventus Inc. · NASDAQ:BVS
Bioventus — Q2 2025 Earnings Presentation
23 slides from Bioventus's earnings presentation, Aug 6, 2025
Slide 1: Second Quarter 2025 Financial Results
Second Quarter 2025 Financial Results August 6, 2025
Slide 2: Agenda and Speakers
Agenda and Speakers Rob Claypoole Mark Singleton President and Senior Vice-President Chief Executive Officer and Chief Financial Officer Update on Business and Q2 2025 Results 2025 Priorities 2025 Financial Guidance 2
Slide 3: Forward Looking Statements and Use of Estimates
Forward Looking Statements and Use of Estimates Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained i
Slide 4: Delivered Another Quarter of Solid Financial Results
Delivered Another Quarter of Solid Financial Results • Well positioned to accelerate revenue growth, profitability and cash flow in the second half of the year • Second quarter revenue of $148 million and organic* growth of 6% • Adjusted EPS* of $0.21 increased 31% and 23% Adjusted EBITDA Margin* •
Slide 5: Solid Execution in Second Quarter
Solid Execution in Second Quarter • In Surgical Solutions, Ultrasonics delivered strong double-digit growth • Well positioned for sustained above-market revenue growth in Ultrasonics • Ultrasonics has a strong value proposition of enhanced precision and control for surgeons, reduced patient blood lo
Slide 6: Recent FDA 510(k) Clearance for StimTrial and TalisMann
Recent FDA 510(k) Clearance for StimTrial and TalisMann • StimTrialTM and TalisMannTM for Peripheral Nerve Stimulation (PNS) used for the treatment of patients who suffer from chronic peripheral pain • PNS products deliver electrical pulses to specific peripheral nerves TalisMann and are designed to
Slide 7: Recent FDA 510(k) Clearance for StimTrial and TalisMann
Recent FDA 510(k) Clearance for StimTrial and TalisMann • StimTrial enables physicians to evaluate a patient’s response to PNS therapy • Physicians prefer to validate the effectiveness of the treatment before a permanent implant and a trial assessment is required by some payers TalisMann for reimbur
Slide 8: Recent FDA 510(k) Clearance for StimTrial and TalisMann
Recent FDA 510(k) Clearance for StimTrial and TalisMann • Plan to invest in direct sales force in the second half of 2025 and going forward • Limited commercial release of TalisMann and StimTrial starting in the third quarter in select U.S. markets TalisMann • Broader rollout expected in early 2026
Slide 9: 2025 Financial Priorities – Improving Profitability and Accelerating Cash Flow
2025 Financial Priorities – Improving Profitability and Accelerating Cash Flow • Continue to forecast at least 100 basis points of Adjusted EBITDA* margin expansion in 2025 despite negative impact from foreign exchange • Margin expansion driven by forecasted second half revenue growth acceleration a
Slide 10: Solid Execution in the Second Quarter
Solid Execution in the Second Quarter • Significant progress on three priorities • Achieved important milestone with 510(k) clearance of TalisMann and StimTrial which creates an attractive long-term growth opportunity • Recognized by U.S. News & World Report as one of the top 10 companies to work fo
Slide 11: Second Quarter Results
Second Quarter Results Mark Singleton Senior Vice-President and Chief Financial Officer 11
Slide 12: Second Quarter Performance
Second Quarter Performance • Pleased with results and progress through the first half of the year to strengthen performance • Revenue of $148 million declined 2% due to the divestiture of the Advanced Rehabilitation Business at the end of last year • Organic* revenue growth was 6%, with strong perfo
Slide 13: Second Quarter Performance
Second Quarter Performance Surgical Solutions Revenue Pain Treatments Revenue Restorative Therapies Revenue Millions Millions Millions $53 $72 $73 $32 $47 $22 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 • Surgical Solutions increased 11% • Pain Treatments increased 1% • Restorative Therapies dec
Slide 14: Second Quarter Performance
Second Quarter Performance Adjusted Gross Profit* Millions Adjusted Gross Margin* • Adjusted Gross Margin* increased 50 basis points from $115 $113 improved product mix 75.8% 76.3% Q2 2024 Q2 2025 * See important disclosures on non-GAAP financial measures and the reconciliation of reported GAAP meas
Slide 15: Second Quarter Performance
Second Quarter Performance $0.21 Adjusted Earnings Per Share* Adjusted EBITDA* Adjusted Operating Income* Adjusted Net Income* Millions Millions Millions $31 $18 $34 $34 $29 $13 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 • Adjusted EBITDA impacted by Advanced • Total Adjusted Operating Expenses
Slide 16: Second Quarter Performance: Balance Sheet and Cash Flow
Second Quarter Performance: Balance Sheet and Cash Flow • Ended second quarter with $33 million of cash and $341 million of debt outstanding, including $5 million drawn on revolving credit facility • As expected, cash from operations significantly accelerated and was an inflow of $26 million • Lower
Slide 17: Credit Facility Update
Credit Facility Update • Recently refinanced credit facility with a new $300 million term loan and $100 million revolving credit facility • Benefits from the refinancing include: • Lowered the interest rate by 75 basis points, generating annual interest expense savings of over $2 million • Improved
Slide 18: 2025 Financial Guidance Update
2025 Financial Guidance Update • Reaffirming 2025 financial guidance provided on March 11, 2025 • 2025 net sales to be in the range of $560 million to $570 million representing organic* growth of 6% to 8% • Adjusted EBITDA* to be in the range of $112 million to $116 million • 2025 Adjusted Earnings
Slide 19: Bioventus: Innovations For Active Healing
@ bioventus Innovations For Active Healing
Slide 20: Reconciliation of Net (Loss) Income from Continuing Operations to Adjusted EBITDA
Reconciliation of Net (Loss) Income from Continuing Operations to Adjusted EBITDA (unaudited) (a) Includes for the three and six months ended June 28, 2025 and June 29, 2024, respectively, depreciation and amortization of $10.6 million, $11.0 million, $20.9 million and $21.0 million in cost of sales
Slide 21: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Three Months Ended)
Reconciliation of Other Reported GAAP Measures to Non- GAAP Measures (for Three Months Ended) Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures Operating Operating Three Months Ended June 28, 2025 Gross Profit Expenses(a) R&D Income Net Income Diluted EPS(k) (a) The "Reported GAAP
Slide 22: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Six Months Ended)
Reconciliation of Other Reported GAAP Measures to Non- GAAP Measures (for Six Months Ended) Operating Operating Six Months Ended June 28, 2025 Gross Profit Expenses(a) R&D Income Net Income Diluted EPS(k) Reported GAAP measure $ 185,146 $ 155,726 $ 6,183 $ 23,237 $ 5,950 $ 0.07 (a) The "Reported GAA
Slide 23: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures Organic Revenue Growth The Company defines the term “organic revenue” as revenue in the stated period excluding the impact from business acquisitions and divestitures. The Company uses the related term “organic revenue growth” or "organic growth" to refer to the fi