Slide 1: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results May 6, 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 Q1 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 First Quarter
Summary of GAAP Results for the First Quarter • Reported net sales of $132 million compared to net sales of $124 million in the prior year • Net income of $4 million compared to net loss of ($3) million in the prior year • Gross profit of $91 million compared to gross profit of $83 million in the pr
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 • Focusing on three priorities: • Accelerating long-term revenue growth with increased investment in the business • Co
Slide 6: Progressing Well Across All Three Priorities
Progressing Well Across All Three Priorities • Delivered 7% revenue growth, slightly ahead of our expectations • Strong revenue performance across our core portfolio • Core portfolio is generating significant operating income to fund TalisMann investment in future growth drivers • Increased investme
Slide 7: Progressing Well Across All Three Priorities
Progressing Well Across All Three Priorities • Increased Adjusted EBITDA* by 24% and improved Adjusted EBITDA margin* by well over 200 bps compared to the first quarter last year • Generated Adjusted diluted EPS* of $0.15, nearly double compared to the first quarter last year • Strong start provides
Slide 8: First Quarter Results
First Quarter Results Mark Singleton Senior Vice-President and Chief Financial Officer 8
Slide 9: First Quarter Performance
First Quarter Performance • Revenue of $132 million increased 7% compared to prior year quarter • Solid performance across all three businesses • Generated Adjusted EBITDA* of $24 million, nearly $5 million higher compared to the prior year quarter • Increase of 24% compared to the prior year quarte
Slide 10: First Quarter Performance
First Quarter Performance Pain Treatments Revenue Surgical Solutions Revenue Restorative Therapies Revenue Millions Millions Millions $63 $59 $21 $48 $20 $45 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 • Pain Treatments increased 8% • Surgical Solutions increased 6% • Restorative Therapies incre
Slide 11: First Quarter Performance
First Quarter Performance Adjusted Gross Profit* Millions Adjusted Gross Margin* • Adjusted Gross Margin* $101 increased 110 basis points $93 • Favorable rebate adjustment 75.3% 76.4% • Refund of prior year tariffs Q1 2025 Q1 2026 * See important disclosures on non-GAAP financial measures and the re
Slide 12: First Quarter Performance
First Quarter Performance $0.15 Adjusted Earnings Per Diluted Share* Adjusted EBITDA* Adjusted Operating Income* Adjusted Net Income* Millions Millions Millions $13 $24 $20 $18 $19 $6 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 • Adjusted EBITDA* improved due to an increase • Total Adjusted R&D
Slide 13: First Quarter Performance: Balance Sheet and Cash Flow
First Quarter Performance: Balance Sheet and Cash Flow • Cash from operations was $9 million, representing an increase of more than $28 million compared to the first quarter last year • Results driven by higher profitability, lower interest expense and favorable working capital • Ended first quarter
Slide 14: 2026 Updated Financial Guidance
2026 Updated Financial Guidance • Increasing guidance for Adjusted Earnings Per Diluted Share* and cash from operations • 2026 Adjusted Earnings Per Diluted Share* to now be in the range of $0.75 to $0.79 representing $0.02 increase compared to prior guidance • 2026 cash from operations to now be in
Slide 15: Bioventus: Innovations For Active Healing
@ bioventus Innovations For Active Healing
Slide 16: Reconciliation of Net (Loss) Income to Adjusted EBITDA (unaudited)
Reconciliation of Net (Loss) Income to Adjusted EBITDA (unaudited) Reconciliation of Net Income (Loss) to Adjusted EBITDA (unaudited) (a) Includes for the three months ended March 28, 2026 and March 29, 2025, respectively, depreciation and amortization of $10.1 million and $10.3 million in cost of s
Slide 17: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures
Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Three Months Ended) Operating Operating Three Months Ended March 28, 2026 Gross Profit Expenses(a) R&D Income Net Income Diluted EPS(h) Reported GAAP measure $ 90,769 $ 79,886 $ 2,467 $ 8,416 $ 3,946 $ 0.04 (a) The "Reported GA
Slide 18: 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 19: 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