-- Q1 reported revenue of $132.1 million increased 7%
-- First quarter GAAP earnings of $0.04 per diluted share compared to the
prior-year period loss of $0.04 per diluted share
-- Non-GAAP earnings* of $0.15 per diluted share compared to $0.08 per
diluted share in the prior-year period
-- Cash from operations of $8.9 million increased $28.3 million compared to
the $19.3 million cash outflow in the prior-year period
-- Company raises Non-GAAP EPS* and Cash from Operations guidance and
reaffirms revenue guidance for full year 2026
DURHAM, N.C., May 06, 2026 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) ("Bioventus" or the "Company"), a global leader in innovations for active healing, today reported financial results for the three months ended March 28, 2026.
"Our team delivered a strong start to 2026, driven by continued momentum in our core businesses and disciplined execution across our commercial and operational priorities," said Rob Claypoole, Bioventus President and Chief Executive Officer. "We are focused on delivering above market growth for the year, while maintaining peer-leading gross margins, which allows us to reinvest in our multiple growth drivers, expand profitability, and generate strong cash flow, positioning Bioventus to deliver sustainable long-term shareholder value."
First Quarter 2026 Financial Results
For the first quarter, worldwide revenue of $132.1 million advanced 7%, driven by growth across all three areas of the Company's broad portfolio.
Net income attributable to Bioventus Inc. was $3.1 million, compared to a net loss attributable to Bioventus Inc. of $2.6 million in the prior-year period.
Adjusted EBITDA* of $23.9 million advanced 24% from $19.2 million in the prior-year period as a result of higher revenue growth, increased gross profit and favorable foreign currency movements.
GAAP earnings of $0.04 per diluted share of Class A common stock improved from the diluted loss of $0.04 per share in the prior-year period. Non-GAAP earnings of Class A common stock(*) of $0.15 per diluted share reflects an increase of 88% from $0.08 per diluted share in the prior-year period, driven by improved operating profit and lower interest expense.
*See below under "Use of Non-GAAP Financial Measures" for more details.
Revenue By Business
The following tables represent net sales by business and geographic region for the three months ended March 28, 2026 and March 29, 2025:
Constant
Change as Currency*
Three Months Ended Reported Change
------------------ ---------------- -----------
(in thousands, March March
except for 28, 29,
percentage) 2026 2025 $ % %
--------------- -------- -------- ------ -------- -----------
Pain treatments $ 63,426 $ 58,918 $4,508 7.7% 6.9%
Surgical
solutions 48,028 45,234 2,794 6.2% 5.7%
Restorative
therapies(a) 20,635 19,724 911 4.6% 3.8%
------- ------- ----- ---
Total net sales $132,089 $123,876 $8,213 6.6% 6.0%
======= ======= ===== ===
(a) Global revenue from the Advanced Rehabilitation Business,
divested on December 31, 2024, totaled $128 and $330
for the three months ended March 28, 2026 and March
29, 2025, respectively.
Pain Treatments: Global revenue of $63.4 million increased 7.7%, primarily due to a $4.2 million favorable rebate benefit related to a billing process change implemented by a third-party private insurance payer in the United States, which was partially offset by one fewer selling day compared to the prior-year period and the expected reduction in distributor inventory levels.
Surgical Solutions: Global revenue of $48.0 million advanced 6.2%. This performance was driven by higher U.S. demand for both Bone Graft Substitutes and Ultrasonics.
Restorative Therapies: Global revenue of $20.6 million increased 4.6% due to continued commercial effectiveness and sales force execution with the EXOGEN Bone Stimulation System.
Constant
Change as Currency*
Three Months Ended Reported Change
------------------ -----------
(in thousands, March March
except for 28, 29,
percentage) 2026 2025 $ % %
------------------ -------- -------- ------ --------- -----------
U.S.
Pain Treatments $ 56,157 $ 52,686 $3,471 6.6% 6.6%
Surgical
Solutions 42,541 40,844 1,697 4.2% 4.2%
Restorative
Therapies(b) 17,747 16,990 757 4.5% 4.5%
------------------ ------- ------- ----- ----
Total U.S. net
sales 116,445 110,520 5,925 5.4% 5.4%
------------------ ------- ------- ----- ----
International
Pain Treatments 7,269 6,232 1,037 16.6% 9.1%
Surgical
Solutions 5,487 4,390 1,097 25.0% 19.6%
Restorative
Therapies(b) 2,888 2,734 154 5.6% 0.0%
------------------ ------- ------- ----- ----
Total
International
net sales 15,644 13,356 2,288 17.1% 10.7%
------------------ ------- ------- ----- ----
Total net sales $132,089 $123,876 $8,213 6.6% 6.0%
================== ======= ======= ===== ====
(b) U.S. revenue from the Advanced Rehabilitation Business
totaled $116 and $330 for the three months ended March
28, 2026 and March 29, 2025, respectively. International
revenue from the Advanced Rehabilitation Business
totaled $12 and none for the three months ended March
28, 2026 and March 29, 2025, respectively.
*See below under "Use of Non-GAAP Financial Measures" for more details.
U.S.: Revenue of $116.4 million increased 5.4% driven by favorable rebates, demand for Surgical Solutions products and growth for our EXOGEN Bone Stimulation System.
International: Revenue of $15.6 million increased 17.1%, primarily due to volume growth in Surgical Solutions, which was attributable to the growth in Ultrasonics and Pain Treatments, driven by the Company's differentiated hyaluronic acid therapies for knee osteoarthritis.
Recent Business Highlights
Bioventus continues to advance its strategic priorities with key achievements, including the following:
-- On March 27, 2026, the Company made a discretionary principal prepayment
of $22.0 million on its term loan, driven by strong operating cash flows.
The reduction in long-term debt lowered future interest payments and
borrowing costs and improved the Company's financial metrics.
2026 Financial Guidance
Based on accelerated cash flow and faster than anticipated debt repayment, Bioventus is raising its full-year 2026 financial guidance for Adjusted EPS* and Cash from Operations. For the twelve months ending December 31, 2026, the Company expects:
-- Adjusted EPS* of $0.75 to $0.79, an increase of $0.02 from previous
guidance.
-- Cash from Operations of $84 million to $89 million, an increase of $2
million from previous guidance.
Bioventus is reaffirming its 2026 Financial Guidance provided on March 5, 2026. For the twelve months ending December 31, 2026, the Company continues to expect:
-- Net sales of $600 million to $610 million. This reflects growth of
approximately 6% to 7%.
The Company does not provide U.S. GAAP financial measures, other than net sales and cash from operations, on a forward-looking basis, because the Company is unable to predict with reasonable certainty the impact and timing of acquisition and divestiture related expenses, accounting fair-value adjustments, and certain other reconciling items without unreasonable efforts. These items are uncertain, depend on various factors, and could be material to the Company's results computed in accordance with U.S. GAAP.
About Bioventus
Bioventus delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. The Innovations for Active Healing from Bioventus include offerings for Pain Treatments, Surgical Solutions and Restorative Therapies. Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.bioventus.com and follow the Company on LinkedIn and X. Bioventus and the Bioventus logo are registered trademarks of Bioventus LLC.
First Quarter 2026 Earnings Conference Call
Management will host a conference call to discuss the Company's financial results and provide a business update, with a question and answer session, at 8:30 a.m. Eastern Time on May 6, 2026. Those who would like to participate in the conference call may dial 1-833-636-0497 (domestic or international) and refer to the Bioventus Inc. Conference Call.
A live webcast of the call and any accompanying materials will also be provided on the investor relations section of the Company's website at https://ir.bioventus.com/.
The webcast will be archived on the Company's website at https://ir.bioventus.com/ and available for replay until May 5, 2027.
*See below under "Use of Non-GAAP Financial Measures" for more details.
Legal Notice Regarding Forward-Looking Statements
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