Bioventus Inc. · NASDAQ:BVS
Bioventus — Q4 2024 Earnings Presentation
19 slides from Bioventus's earnings presentation, Mar 11, 2025
Slide 1: Fourth Quarter 2024 Financial Results
Fourth Quarter 2024 Financial Results March 11, 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 Q4 2024 Results Outline 2025 Priorities 2025 Financial Guidance
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: Well Positioned to Build on Positive Momentum in 2025
Well Positioned to Build on Positive Momentum in 2025 • Made meaningful progress in 2024 to position Bioventus for continued success • Completed comprehensive strategic review and aligned organization • Developed roadmap for organic and inorganic opportunities, commercial and operational improvement
Slide 5: Strong Execution – Revenue, Profitability and Liquidity
Strong Execution – Revenue, Profitability and Liquidity • Fourth quarter 14% revenue growth and 14% organic growth* for the year • Generated double-digit revenue growth in Surgical Solutions • Surpassed internal expectations • Saw the highest year-over-year growth for Ultrasonics for 2024 • Achieved
Slide 6: 2025 Financial Priorities – Driving Above Market Revenue Growth
2025 Financial Priorities – Driving Above Market Revenue Growth • Strive to grow revenue at a higher rate than market rate of low to mid- single digits • In Surgical Solutions, penetrating estimated $1 billion opportunity in Ultrasonics with differentiated technology and strategic investments • Also
Slide 7: 2025 Financial Priorities – Improving Profitability and Accelerating Cash Flow
2025 Financial Priorities – Improving Profitability and Accelerating Cash Flow • 2024 was an example of the powerful combination of peer-leading gross margin and above-market growth • Focus this year on supply chain improvements to maintain gross margin • Goal to deliver 100 bps of incremental Adjus
Slide 8: Fourth Quarter Results
Fourth Quarter Results Mark Singleton Senior Vice-President and Chief Financial Officer 8
Slide 9: Fourth Quarter Performance
Fourth Quarter Performance • Encouraged by results to date and progress to continuously improve our business • Revenue of $154 million increased 14% compared to the prior year quarter • Maintained strong momentum with double-digit growth in both Pain Treatments and Surgical Solutions • Generated Adj
Slide 10: Fourth Quarter Performance
Fourth Quarter Performance Surgical Solutions Revenue Pain Treatments Revenue Restorative Therapies Revenue Millions Millions Millions $54 $69 $31 $31 $46 $59 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 • Surgical Solutions increased 18% • Pain Treatments increased 17% • Restorative Therapies sa
Slide 11: Fourth Quarter Performance
Fourth Quarter Performance Adjusted Gross Profit* Millions Adjusted Gross Margin* • Adjusted Gross Margin* $113 increased 230 basis points $97 • Experienced transitory inventory write-offs in the prior 71.4% 73.7% year Q4 2023 Q4 2024 * See important disclosures on non-GAAP financial measures and th
Slide 12: Fourth Quarter Performance
Fourth Quarter Performance $0.15 Adjusted Earnings Per Share* Adjusted EBITDA* Adjusted Operating Income* Adjusted Net Income* Millions Millions Millions $28 $26 $13 $22 $20 $6 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 • 28% Adjusted EBITDA* growth • 34% increase in Adjusted Operating • Adjust
Slide 13: Fourth Quarter Performance: Balance Sheet and Cash Flow
Fourth Quarter Performance: Balance Sheet and Cash Flow • Ended fourth quarter with $42 million of cash and $336 million of debt outstanding • Repaid $48 million of debt during the fourth quarter from free cash flow and divestiture proceeds • No amount drawn on revolving credit facility at year-end
Slide 14: 2025 Financial Guidance
2025 Financial Guidance • 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 Per Share* to be in the range of $0.64 to $0.68 • Additional comments •
Slide 15: Bioventus – Innovations For Active Healing
@ bioventus Innovations For Active Healing
Slide 16: 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 months ended December 31, 2024 and December 31, 2023 and the years ended December 31, 2024 and December 31, 2023, respectively, depreciation and amortization of $10.6 million, $10
Slide 17: 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) Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating expense line items, excluding researc
Slide 18: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Twelve Months)
Reconciliation of Other Reported GAAP Measures to Non- GAAP Measures (for Twelve Months Ended Year-to-Date) Net Loss EPS from Operating Operating Continuing Continuing (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating Year Ended December 31, 2024 Gr
Slide 19: 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