Core Viewpoint - Bioventus Inc. will report its financial results for Q3 of fiscal year 2025 on November 4, 2025, and will host a conference call to discuss these results and provide a business update [1]. Financial Reporting - The financial results will be announced before the market opens on November 4, 2025 [1]. - A conference call is scheduled for 8:30 a.m. Eastern Time on the same day to discuss the results [1]. Conference Call Participation - Participants can join the conference call by dialing 1-833-636-0497 and referencing the Bioventus Inc. Conference Call [2]. - A live webcast of the call will be available on the Company's Investor Relations website, with an archive for replay until November 3, 2026 [2]. Company Overview - Bioventus is a global leader in innovations for active healing, providing clinically proven and cost-effective products that aid in quick and safe healing [3]. - The company's mission focuses on helping patients resume active lives through its offerings in Pain Treatments, Restorative Therapies, and Surgical Solutions [3]. - Bioventus emphasizes high quality standards, evidence-based medicine, and strong ethical behavior, positioning itself as a trusted partner for physicians worldwide [3].

Core Viewpoint - Halper Sadeh LLC is investigating potential breaches of fiduciary duties by certain officers and directors of Bioventus Inc. [1] Company Summary - The investigation pertains to whether the management of Bioventus Inc. has acted in the best interests of shareholders [1] - Shareholders who acquired Bioventus stock on or before February 11, 2021, may have the opportunity to seek various forms of corporate governance reforms and financial relief [1]

Company Overview - Bioventus is a $550 million medical device company operating in large and growing markets [4] - The company focuses on pain management, surgical solutions, and restorative therapies [4] - Bioventus believes it has better opportunities for creating shareholder value compared to other small mid-cap stocks [4] Market Position and Growth - The company has a diversified portfolio and is either a category leader or a growth leader in its segments [5] - Bioventus has demonstrated strong execution with 7 quarters of above mid-single-digit growth, including 4 quarters of double-digit growth [5]

Company Overview - Bioventus is a $550 million medical device company operating in large and growing markets [4] - The company focuses on pain management, surgical solutions, and restorative therapies [4] - Bioventus believes it has better opportunities for creating shareholder value compared to other small mid-cap stocks [4] Market Position and Growth - The company has a diversified portfolio and is either a category leader or a growth leader in its segments [5] - Bioventus has demonstrated strong execution with 7 quarters of above mid-single-digit growth, including 4 quarters of double-digit growth [5]

Bioventus FY Conference Summary Company Overview - Bioventus is a $550 million medical device company focused on pain, surgical solutions, and restorative therapies, participating in large and growing markets [4][5] - The company aims to become a $1 billion entity with high growth, profitability, and cash flow [5] Financial Performance - Bioventus has achieved seven quarters of above single-digit growth, with four quarters of double-digit growth [4] - The company has a gross margin in the mid-70% range, outperforming peers [5] - Expected cash flow for 2025 is projected to double from the previous year, reaching $60 million to $70 million [9] - EBITDA has increased from $66 million to $109 million, with a guidance midpoint of $114 million for the current year [48] Turnaround Strategy - The company underwent a significant turnaround by simplifying operations, including two divestitures from the wound and advanced rehabilitation businesses [6][7] - A new CEO with commercial experience was brought in to enhance growth strategies [8] - The company has successfully refinanced its debt, improving financial stability [8] Portfolio and Growth Drivers - The ultrasonics portfolio, acquired in 2022, is expected to change the standard of care and has shown double-digit growth [10][15] - The HA (Hyaluronic Acid) portfolio is a significant revenue contributor, with a complete product range that includes Duralane, Gelsyn, and Supartz [12][13] - The BGS (Bone Growth Stimulator) product is positioned competitively against Medtronic's Infuse, with opportunities for market share growth [13][14] - The Exogen fracture care device has transitioned from decline to growth, contributing positively to the portfolio [11][42] New Product Introductions - The addition of PRP (Platelet-Rich Plasma) to the portfolio is aimed at leveraging existing sales force capabilities without adding new personnel, targeting a $400 million market [23][24] - The PNS (Peripheral Nerve Stimulation) market is projected to grow significantly, with a TAM of $2 billion and expected growth to $500 million by 2029 [31][32] Market Position and Competitive Advantage - Bioventus is positioned as a market leader in several segments, with a focus on clinical differentiation and strong market access strategies [12][13] - The ultrasonics technology is noted for its revolutionary benefits, including reduced blood loss and ease of use for surgeons [18][19] Future Outlook - The company expects to maintain a growth rate of around 7% in the coming years, with potential contributions from new product launches [41] - There is a focus on organic growth rather than M&A in the near term, with an emphasis on maximizing the existing portfolio [46][54] - The company aims to reduce leverage to 2.5 times by the end of 2025, with plans to prioritize debt repayment [52][53] Challenges and Considerations - The company faces macroeconomic headwinds, including tariffs and foreign exchange impacts, but remains committed to expanding margins [49][50] - Investments in new product launches, such as PNS, are expected to be balanced with maintaining profitability [51] Conclusion - Bioventus is on a positive trajectory with a strong portfolio, effective turnaround strategies, and a focus on sustainable growth and profitability in the medical device sector [41][54]

Core Insights - Bioventus Inc. will participate in the Morgan Stanley Global Healthcare Conference on September 10, 2025, with CFO Mark Singleton speaking [1] - A live webcast of the presentation will be available on the company's website, with a replay option following the event [2] Company Overview - Bioventus is a global leader in innovations for active healing, providing clinically proven and cost-effective products that facilitate quick and safe healing [3] - The company's mission focuses on helping patients resume and enjoy active lives through its offerings in Pain Treatments, Restorative Therapies, and Surgical Solutions [3] - Bioventus emphasizes high quality standards, evidence-based medicine, and strong ethical behavior, positioning itself as a trusted partner for physicians worldwide [3]

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]