Slide 1: Second Quarter 2026 Financial Results
Second Quarter 2026 Financial Results August 5, 2026
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 2026 Results 2026 Priorities 2026 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: Summary of GAAP Results for the Second Quarter
Summary of GAAP Results for the Second Quarter • Reported net sales of $153 million compared to net sales of $148 million in the prior year • Net income of $33 million compared to net income of $7 million in the prior year • Gross profit of $106 million compared to gross profit of $102 million in th
Slide 5: Delivered Another Quarter of Solid Financial Results
Delivered Another Quarter of Solid Financial Results • Strong start to the year across our business • Continuing to strengthen our commercial, operational and financial fundamentals • Seeing encouraging leading indicators that reinforce our confidence in our future growth drivers • Reiterating full-
Slide 6: Announcing Review of Potential Strategic Alternatives
Announcing Review of Potential Strategic Alternatives • Received multiple expressions of interest and an unsolicited acquisition proposal • The Board of Directors has formed a Committee of independent directors • The Committee will evaluate a range of strategic options • Evercore assisting as financ
Slide 7: Progressing Well Across All Three 2026 Priorities
Progressing Well Across All Three 2026 Priorities • Delivered 4% revenue growth, led by strong, double-digit growth in Pain Treatments • Durolane continues to grow well above the market • Continued to increase investments in our four growth drivers • Generated valuable, data-driven insights while pr
Slide 8: Progressing Well Across All Three 2026 Priorities
Progressing Well Across All Three 2026 Priorities • Increased velocity in surgeon adoption and StimTrial placements with high conversion to permanent TalisMann implants in PNS • Drove traction with key leading indicators in Ultrasonics; increased surgeon adoption, accelerating disposables growth, an
Slide 9: Second Quarter Results
Second Quarter Results Mark Singleton Senior Vice-President and Chief Financial Officer 8
Slide 10: Second Quarter Performance
Second Quarter Performance • Revenue of $153 million increased 4% compared to prior year quarter • Growth was driven by significant strength in Pain Treatments, partially offset by: • Challenging comparison to prior year for both Surgical Solutions and Restorative Therapies • Shift in timing of some
Slide 11: Second Quarter Performance
Second Quarter Performance Pain Treatments Revenue Surgical Solutions Revenue Restorative Therapies Revenue Millions Millions Millions $82 $53 $73 $50 $22 $21 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 • Pain Treatments increased 12% • Surgical Solutions decreased 5% • Restorative Therapies dec
Slide 12: Second Quarter Performance
Second Quarter Performance Adjusted Gross Profit* Millions Adjusted Gross Margin* • Adjusted Gross Margin* decreased 90 basis points $113 $116 • Higher freight costs 76.3% 75.4% • Unfavorable product mix Q2 2025 Q2 2026 * See important disclosures on non-GAAP financial measures and the reconciliatio
Slide 13: Second Quarter Performance
Second Quarter Performance $0.22 Adjusted Earnings Per Diluted Share* Adjusted EBITDA* Adjusted Operating Income* Adjusted Net Income* Millions Millions Millions $35 $31 $30 $34 $20 $18 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 • Adjusted EBITDA* improved due to an increase • Total Adjusted R&
Slide 14: Second Quarter Performance: Balance Sheet and Cash Flow
Second Quarter Performance: Balance Sheet and Cash Flow • Cash from operations was $20 million • Ended second quarter with $29 million of cash and $248 million of debt outstanding • Debt decreased $24 million during the quarter and $46 million year-to-date • Reduction in debt will drive additional i
Slide 15: 2026 Updated Financial Guidance
2026 Updated Financial Guidance • Expect year-over-year revenue growth to increase in the second half of 2026 compared to the first half of the year by over 300 basis points • Revenue increase in Surgical Solutions • Revenue acceleration in both PNS and PRP • Cash from operations expected to approxi
Slide 16: Bioventus: Innovations For Active Healing
@ bioventus Innovations For Active Healing
Slide 17: Reconciliation of Net (Loss) Income to Adjusted EBITDA
Reconciliation of Net (Loss) Income to Adjusted EBITDA (unaudited) (a) Includes for the three and six months ended June 27, 2026 and June 28, 2025, respectively, depreciation and amortization of $9.9 million, $10.6 million, $20.0 million, $20.9 million in cost of sales and $1.1 million, $1.4 Twelve
Slide 18: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Three Months)
Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Three Months Ended) Operating Operating Three Months Ended June 27, 2026 Gross Profit Expenses(a) R&D Income Net Income Diluted EPS(j) (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP o
Slide 19: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Six Months)
Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Six Months Ended) Operating Operating (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating Six Months Ended June 27, 2026 Gross Profit Expenses(a) R&D Income Net Income Diluted EP
Slide 20: 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
Slide 21: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures Net Sales, International Net Sales Growth and Constant Currency Basis Net Sales, International Net Sales Growth and Constant Currency Basis are non-GAAP measures, which are calculated by translating current and prior-year results at the same foreign currency exchan