Bioventus Reports Third Quarter Financial Results

Core Insights - Bioventus Inc. reported a 15.0% increase in Q3 revenue, marking the fourth consecutive quarter of double-digit organic growth, driven by strong performance in Pain Treatments and Surgical Solutions [2][5] - The company achieved a gross margin expansion of 200 basis points and generated cash from operations of $10.3 million, an increase of$18.6 million compared to the previous year [1][3] - The net loss from continuing operations decreased to $5.4 million from$8.8 million in the prior-year period, with adjusted EBITDA rising 8.4% to $23.6 million [3][4] Financial Performance - Q3 2024 worldwide revenue reached$139.0 million, up from $120.8 million in Q3 2023, with notable growth in Pain Treatments (16.3$23.6 million, reflecting strong revenue growth compared to $21.7 million in the prior year [3][35] - The company reported a loss per share of$0.07, an improvement from a loss of $0.12 in the prior-year period [4][18] Revenue Breakdown - U.S. net sales totaled$122.9 million, a 15.7% increase year-over-year, with Pain Treatments contributing $56.3 million and Surgical Solutions$41.2 million [5][6] - International net sales amounted to $16.1 million, a 10.2$45.0 million, expected to close by early 2025, which will help reduce debt and concentrate on core businesses [7][8] Future Guidance - For the twelve months ending December 31, 2024, Bioventus expects net sales between $562 million and$567 million, with adjusted EBITDA projected at $104 million to$107 million [8]