secwatch.observer — SEC 8-K summary
======================================

Issuer:     Bioventus Inc. (BVS)
CIK:        0001665988
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001628280-23-018425
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1665988/000162828023018425/0001628280-23-018425-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1665988/000162828023018425/bvs-20230516.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-018425

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer