Presentation Unknown Analyst Thanks, everyone, for joining us. Before we begin, just the disclaimer. For important disclosures, please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. And with that, thank you, everyone, for joining us. We're here with Mark Singleton, CFO of Bioventus. Thanks for being with us here, Mark. Mark SingletonSenior VP & CFO Thank you. We really a ...

Presentation Unknown Analyst Thanks, everyone, for joining us. Before we begin, just the disclaimer. For important disclosures, please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. And with that, thank you, everyone, for joining us. We're here with Mark Singleton, CFO of Bioventus. Thanks for being with us here, Mark. Mark SingletonSenior VP & CFO Thank you. We really a ...

Bioventus (NasdaqGS:BVS) FY Conference September 10, 2025 01:05 PM ET Speaker1Thanks, everyone, for joining us. Before we begin, just a disclaimer. For important disclosures, please see the Morgan Stanley Research Disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. Thank you, everyone, for joining us. We're here with Mark Singleton, CFO of Bioventus. Thanks for being with us here, Mark.Speaker0Thank you. Really ...

DURHAM, N.C., Sept. 03, 2025 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS), a global leader in innovations for active healing, today announced that Mark Singleton, Bioventus Senior Vice-President and Chief Financial Officer, will participate in a fireside chat at the Morgan Stanley Global Healthcare Conference on Wednesday, September 10, 2025, at 1:05 p.m. ET. A live webcast of the presentation will be available on the “Investors” section of the Company’s website at www.bioventus.com and will be availabl ...

Financial Data and Key Metrics Changes - In fiscal 2025, the company reported underlying revenue from customers of $2,566.8 million, reflecting a 0.7% increase on a constant currency basis compared to fiscal 2024 [2] - Underlying cash EBITDA was $43.8 million, resulting in a cash EBITDA margin of 17%, showing improvement over the previous year [2] - The company ended the year with $58.7 million in cash and no debt, allowing for a final dividend of $13.1 million and a special dividend of $8 million [2] Business Line Data and Key Metrics Changes - Maintenance, support, and hosting revenue grew by 5.6%, while professional services revenue increased by 2.1% [3] - Recurring revenue for fiscal 2025 was $154.3 million, approximately flat compared to $149.6 million in 2024, impacted by customer loss and shrinkage [5] - Operating costs decreased by $17 million in fiscal 2025 compared to fiscal 2024, remaining stable throughout the year [6] Market Data and Key Metrics Changes - The company expects revenues in fiscal 2026 to be in line with fiscal 2025, with cash EBITDA projected to exceed $50 million [8] - One customer generating $10 million in revenue is expected to complete migration away from the company by January 1, 2026 [10] Company Strategy and Development Direction - The company is focusing on protecting and growing recurring revenue, advancing platforms, exploring partnerships, and increasing accountability at the business unit level [8] - A decentralized business model is emphasized to improve customer intimacy and decision-making [4] Management's Comments on Operating Environment and Future Outlook - Management acknowledged attrition in fiscal 2025 and expects a further impact of $6.5 million on fiscal 2026 recurring revenue due to customer loss [6][16] - Growth is anticipated from existing customers, driven by volume increases, client expansions, and new business opportunities [17] Other Important Information - The company has a dividend policy of returning at least 50% of underlying NPAT to shareholders [7] - The definition of recurring revenue has been refined, focusing on contracted recurring revenue without including professional services [33] Q&A Session Summary Question: Clarification on revenue guidance for FY 2026 - Management expects revenues to be in line with fiscal 2025, with growth driven by existing customers and new business opportunities [16][18] Question: Cost savings and FTE changes - Management indicated that cost savings are driven by efficiency improvements across various departments, not limited to one area [19][20] Question: FX assumptions and market opportunities - Current FX rates are assumed to hold, and while there is activity in the market, specific details on new logos were not disclosed [23][26] Question: Revenue growth drivers - Revenue growth was attributed to favorable FX rates, strong professional services revenue, and R&D incentives from the UK government [38][39] Question: Partnerships with administration providers - Management is in early stages of partnership discussions to enhance administration capabilities in conjunction with their platforms [42]

Financial Performance - Underlying Revenue from customers reached $256.8 million, a 3.1% year-over-year increase[5] - Recurring Revenue accounted for $154.3 million of the Underlying Revenue[5] - Underlying Cash EBITDA was $43.8 million, resulting in a 17% Cash EBITDA margin[5] - The company ended the year with $58.7 million in cash and no debt[5] - A final FY25 dividend of $13.1 million (2.92c per share) and a special dividend of $8.0 million (1.79c per share) were distributed[5] Segment Performance - EMEA revenue was $186 million in FY25[12] - APAC revenue was $73 million in FY25[12] Future Outlook - The company expects FY26 revenues to be in line with FY25 and Cash EBITDA to be above $50 million[31] - One customer exit will impact FY26 revenue by A$10 million[37] Capital Allocation - A capital return of $73.2 million (16.3 cents per share) was paid in January 2025[28] - A special dividend of $40.0 million (8.92 cents per share) and 1H25 Dividend of $7.2 million (1.6 cents per share) was paid in April 2025[28]

Summary of Bioventus (BVS) FY Conference Call - August 12, 2025 Company Overview - **Company**: Bioventus (BVS) - **Industry**: Medical Device - **Focus**: Innovations for active healing in orthopedics - **Revenue**: Over $550 million annually - **Market Opportunity**: Over $6 billion across product categories [5][6] Core Business Segments 1. **Pain Treatments** - Flagship product: Duralane (hyaluronic acid therapy) - New addition: Xcel PRP system through a distribution agreement with Apex Biologics - Recent FDA clearances for STIM trial and Telesman, enhancing growth potential [12][14][24] 2. **Surgical Solutions** - Ultrasonics platform aimed at spinal surgery and bone cutting - Significant time savings for surgeons (up to 45 minutes per case) - Product: OsteoAmp, a bone graft substitute with clinical and economic value [16][18] 3. **Restorative Therapies** - Focus on fracture care technology (Exagen) - Restored growth after five years of decline, achieving double-digit growth recently [19][20] Financial Performance - **Revenue Growth**: Organic revenue growth of over 14% last year; expected to grow nearly 2x the market this year [7][8] - **Profitability**: Guidance suggests a margin just over 20%, with a 100 basis point improvement [8][26] - **Cash Flow**: Expected to nearly double this year, with a cash flow yield of approximately 60% and net leverage dropping below 2.5 times [29] Strategic Initiatives - **Emerging Businesses**: - PRP and PNS expected to contribute about 200 basis points of growth by 2026 [39] - PNS market projected to exceed $500 million by 2029 [24] - **International Expansion**: - Currently less than $100 million in international revenue; significant untapped potential identified [46] - New leadership brought in to enhance international strategy and execution [47] Market Dynamics - **Second Half Expectations**: Anticipated growth rate improvement of about 300 basis points due to easier comparables and increased growth in core businesses [32][33] - **Sales Strategy**: Existing sales force will distribute new products, with plans to ramp up the team for PNS significantly in 2026 and 2027 [38][45] Conclusion - Bioventus is positioned for sustained growth through a diversified portfolio, strong gross margins, and strategic initiatives aimed at expanding both domestic and international markets. The company aims to become a $1 billion high-growth, high-profit entity while helping patients recover effectively [30].

Financial Performance & Growth - The company's last twelve months (LTM) global proforma revenue is $564 million[6] - The company is experiencing above-market revenue growth, with seven quarters of mid-single-digit or higher growth[7] - The company's organic growth is projected at 7.0% in 2025[11] - The company's Adjusted EBITDA margin is steadily increasing, projected to reach 20.2% in 2025[14] - Cash from operations is increasing, with 2025 projected to be nearly double that of 2024[18] - Net leverage ratio is decreasing, projected to be less than 2.5x by the end of 2025[28] Market & Strategy - The company operates in a $6.4 billion addressable market[6] - The company has a diversified portfolio across Pain Treatments, Surgical Solutions, and Restorative Therapies[5, 20] - The company is focused on margin expansion by leveraging mid-70s gross margin and cost efficiencies[7, 25] - The company aims to nearly double 2024 free cash flow in 2025, with a cash flow yield of approximately 60%[28]

Core Insights - Bioventus Inc. is a global leader in innovations for active healing and will have its President and CEO, Rob Claypoole, participate in a fireside chat at the Canaccord Genuity Global Growth Conference on August 12, 2025 [1] - A live webcast of the presentation will be available on the company's website, along with a replay option after the event [2] Company Overview - Bioventus delivers clinically proven and cost-effective products aimed at helping individuals heal quickly and safely, with a mission to assist patients in resuming active lives [3] - The company's offerings include Pain Treatments, Restorative Therapies, and Surgical Solutions, all built on high quality standards and evidence-based medicine [3] - Bioventus is recognized as a trusted partner for physicians globally, emphasizing strong ethical behavior in its operations [3]

Company Performance - Bioventus reported quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.22 per share, but showing an increase from $0.19 per share a year ago, resulting in an earnings surprise of -4.55% [1] - The company posted revenues of $147.66 million for the quarter ended June 2025, which was below the Zacks Consensus Estimate by 0.26% and a decrease from year-ago revenues of $151.22 million [2] - Over the last four quarters, Bioventus has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Bioventus shares have declined approximately 41.5% since the beginning of the year, contrasting with the S&P 500's gain of 7.1% [3] - The current Zacks Rank for Bioventus is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $137.39 million, and for the current fiscal year, it is $0.66 on revenues of $566.43 million [7] - The outlook for the Medical - Drugs industry, to which Bioventus belongs, is currently in the top 34% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]