Bioventus, Inc. ( (BVS) ) has released its Q3 earnings. Here is a breakdown of the information Bioventus, Inc. presented to its investors.
Bioventus, Inc. is a global leader in the active healing industry, offering clinically proven and cost-effective products for pain treatments, restorative therapies, and surgical solutions. In its latest earnings report, Bioventus announced a significant 15.0% increase in revenue for the third quarter of 2024, marking the fourth consecutive quarter of double-digit organic growth. The company’s gross margin also expanded by 200 basis points, and cash from operations rose by $18.6 million compared to the previous year. Key highlights from the report include a worldwide revenue of $139.0 million, driven by significant growth in pain treatments and surgical solutions. Despite a net loss of $5.4 million, the company improved from the prior year’s $8.8 million loss, while adjusted EBITDA rose by 8.4% to $23.6 million. Looking ahead, Bioventus management remains focused on accelerating revenue growth, enhancing profitability, and reducing leverage to increase shareholder value, with expectations of net sales reaching up to $567 million for the full year 2024.
