Bioventus Q1 net loss $100M on $78.6M impairment; Adj. EBITDA $17M beats expectations

Bioventus Inc.

2023-Q1 EPS reported -$2.24 revenue$119,059,000

Net sales $119.1M (+1.5% YoY); net loss from cont. ops. $100.0M vs $14.4M loss prior year.
Adjusted EBITDA $17.0M vs $7.2M prior year, exceeding expectations; non-GAAP operating income $13.5M vs $1.9M.
Non-cash $78.6M impairment write-down on Wound Business now classified as held for sale.
Signed purchase agreement to divest Wound Business (annual rev ~$40M, Adj. EBITDA ~$5M) on May 10, 2023.
Cash $47.1M, debt $445.6M; FY 2023 Adj. EBITDA guidance at least $68M excluding Wound Business.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Bioventus Inc. reported three months ended April 1, 2023 results: revenue $119.1 million, net income $100.0 million, EPS $1.28. Guidance reaffirmed.

Period: three months ended April 1, 2023
Revenue: $119.1 million
Net income: $100.0 million
EPS: $1.28
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Company"), a global leader in innovations for active healing, today reported financial results for the three months ended April 1, 2023. Q1 Financial Summary: • Net Sales of $119.1 million, up $1.8 million, or 1.5%, year-over-year as reported (1.9% constant currency*) • Net Loss from continuing operations of $100.0 million, compared to Net Loss from continuing

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Source: SEC EDGAR

accession 0001628280-23-018425

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