Bioventus Q1 revenue $129.5M (+8.7% YoY), guides FY24 higher

For the first quarter, worldwide revenue totaled $129.5 million, an increase of 8.7% compared to the prior-year period. On an organic* basis, revenue increased 15.3%, driven by growth in Pain Treatments and Surgical Solutions. The Company also reported a first quarter net loss from continuing operations of $6.0 million, compared to a net loss from continuing operations of $100.0 million in the prior-year period. Adjusted EBITDA* from continuing operations totaled $22.6 million, advancing 33.5%, compared to the prior year total of $17.0 million due to strong revenue growth and increased gross margin. Loss per share of Class A common stock from continuing operations was $0.07 in the first quarter, compared to a loss of $1.28 in the prior-year period.

Based on strong execution and significant momentum across the business, Bioventus is raising financial guidance for full-year 2024. The Company now expects: • Net sales of $535 million to $550 million—An increase of $15 million from previous guidance • Adjusted EBITDA* of $94 million to $99 million—An increase of $5 million from previous guidance • Non-GAAP EPS* of $0.25 to $0.33—An increase of $0.13 from previous guidance