Bioventus Inc. · NASDAQ:BVS
Bioventus — Q3 2025 Earnings Presentation
23 slides from Bioventus's earnings presentation, Nov 4, 2025
Slide 1: Third Quarter 2025 Financial Results
Third Quarter 2025 Financial Results November 4, 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 Q3 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 Strong Financial Results
Delivered Another Quarter of Strong Financial Results • Continue to make significant progress with our strategic priorities • Expect growth to accelerate in the fourth quarter and reaffirm full-year guidance** on all financial measures • Third quarter revenue of $139 million comparable to prior year
Slide 5: Solid Execution in Third Quarter
Solid Execution in Third Quarter • Accelerated revenue growth in Pain Treatments and Surgical Solutions as anticipated • Pain Treatments’ growth powered by Durolane • Surgical Solutions gained momentum in Bone Graft Substitutes • Increased awareness with customers of strong clinical and health econo
Slide 6: PNS Pilot Launch Update
PNS Pilot Launch Update • StimTrialTM and TalisMannTM for Peripheral Nerve Stimulation (PNS) used for the treatment of patients who suffer from chronic peripheral pain • In the U.S., PNS market of approximately $200 million estimated to TalisMann grow above 20% annually and expected to exceed $500 m
Slide 7: PNS Pilot Launch Update
PNS Pilot Launch Update • Encouraging feedback from physicians and patients regarding differentiated technological design of TalisMann, including the power, size, and ease of use • Exciting time to be launching this technology TalisMann • Starting to expand commercial organization, educating physici
Slide 8: PRP Pilot Launch Update
PRP Pilot Launch Update • New XCELL PRP system has received positive customer feedback • XCELL system is designed to reduce procedural time and provide customizable treatment solution • Progressed from initial pilot launch in the third quarter • Trained the HA sales team and expect sales to steadily
Slide 9: 2025 Financial Priorities – Improving Profitability and Accelerating Cash Flow
2025 Financial Priorities – Improving Profitability and Accelerating Cash Flow • GAAP net income of $3 million compared to net loss of $5 million in prior year • Adjusted EBITDA* increased by 13% and Adjusted EBITDA margin* expanded by over 200 basis points • Third quarter performance demonstrates t
Slide 10: Solid Execution in the Third Quarter
Solid Execution in the Third Quarter • Significant progress on our three priorities • Primed to close out 2025 strong • Well positioned to drive above market growth, profitable revenue growth and strong consistent cash flow on an annual basis 10
Slide 11: Third Quarter Results
Third Quarter Results Mark Singleton Senior Vice-President and Chief Financial Officer 11
Slide 12: Third Quarter Performance
Third Quarter Performance • 8th straight quarter of at least mid-single digit organic* revenue growth • Revenue of $139 million was comparable to prior year due to the divestiture of the Advanced Rehabilitation Business at the end of last year • Organic* revenue growth was 8%, with strong performanc
Slide 13: Summary of GAAP Results
Summary of GAAP Results • Reported net sales of $139 million comparable to prior year (due to divestiture of Rehab) • Net income of $3 million compared to net loss of $5 million in prior year • Gross profit of $94 million comparable to prior year • Gross margin of 68% comparable to prior year • Oper
Slide 14: Third Quarter Performance
Third Quarter Performance Pain Treatments Revenue Surgical Solutions Revenue Restorative Therapies Revenue Millions Millions Millions $67 $50 $30 $63 $46 $21 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 • Pain Treatments growth of 6% • Surgical Solutions increased 9% • Restorative Therapies decli
Slide 15: Third Quarter Performance
Third Quarter Performance Adjusted Gross Profit* Millions Adjusted Gross Margin* • Adjusted Gross Margin* $104 $104 increased 50 basis points from improved product mix offsetting the impact of tariffs 74.7% 75.2% Q3 2024 Q3 2025 * See important disclosures on non-GAAP financial measures and the reco
Slide 16: Third Quarter Performance
Third Quarter Performance $0.15 Adjusted Earnings Per Diluted Share* Adjusted EBITDA* Adjusted Operating Income* Adjusted Net Income* Millions Millions Millions $27 $24 $13 $24 $20 $5 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 • Adjusted EBITDA improved due to an increase in • Total Adjusted R&
Slide 17: Third Quarter Performance: Balance Sheet and Cash Flow
Third Quarter Performance: Balance Sheet and Cash Flow • Cash from operations significantly accelerated and was an inflow of $30 million • Higher profitability • Lower interest expense • Reduction in one-time cash costs • Ended third quarter with $42 million of cash and $323 million of debt outstand
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
@ bioventus Innovations For Active Healing
Slide 20: Reconciliation of Net (Loss) Income from Continuing Operations to Adjusted EBITDA (unaudited)
Reconciliation of Net (Loss) Income from Continuing Operations to Adjusted EBITDA (unaudited) (a) Includes for the three and nine months ended September 27, 2025 and September 28, 2024, respectively, depreciation and amortization of $10.0 million, $10.2 million, $30.9 million and $31.3 million in co
Slide 21: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Three Months Ended)
Reconciliation of Other Reported GAAP Measures to Non- GAAP Measures (for Three Months Ended) Three Months Ended September 27, Operating Operating (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating 2025 Gross Profit Expenses(a) R&D Income Net Income
Slide 22: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Nine Months Ended)
Reconciliation of Other Reported GAAP Measures to Non- GAAP Measures (for Nine Months Ended) Nine Months Ended September 27, Operating Operating (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating 2025 Gross Profit Expenses(a) R&D Income Net Income Di
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