Financial Performance & Growth - The company reported Last Twelve Months (LTM) global proforma revenue of $564 million[7] - The company is experiencing above-market revenue growth, with eight quarters of mid-single-digit or higher growth[8] - The company's organic growth is projected at 7% in 2025[12] - The company's Adjusted EBITDA margin is expected to increase from 13.4% in 2022 to 20.2% in 2025[14] - Cash from Operations is projected to nearly double from 2024 to 2025[19] Market & Strategy - The company operates in a $6.4 billion addressable market[7] - The company has a diversified portfolio in large and growing markets, including Pain Treatments, Surgical Solutions, and Restorative Therapies[8, 6] - The company is focused on margin expansion by leveraging mid-70s gross margin and cost efficiencies[8, 24] - The company aims to increase EBITDA and cash flow to continue reducing leverage[8] Future Outlook - The company projects a net leverage ratio of less than 2.5x by the end of 2025[27] - The company anticipates a free cash flow yield of approximately 60% in 2025[27]

Financial Performance - Third quarter revenue was $139 million, comparable to the prior year, with organic growth of 8%[13, 28] - GAAP net income was $3 million, compared to a net loss of $5 million in the prior year[23, 28, 29] - Adjusted EBITDA increased by 13% to $27 million, with Adjusted EBITDA margin expanding by over 200 basis points[23, 28] - Cash from operations nearly tripled for the quarter and is up 88% year-to-date[23] - Adjusted Gross Margin increased 50 basis points due to improved product mix[37] - Adjusted Net Income nearly tripled due to increased gross margin, decreased operating expenses, and decreased interest expense[44] Segment Performance - Pain Treatments revenue grew by 6% to $67 million, driven by strong Durolane volume growth[30, 31, 36] - Surgical Solutions revenue increased by 9% to $50 million, with growth in Bone Graft Substitutes[32, 33, 36] - Restorative Therapies revenue declined by 29% to $21 million due to the divestiture of the Advanced Rehabilitation Business, but EXOGEN grew by 11%[34, 35, 36] Strategic Initiatives - The Peripheral Nerve Stimulation (PNS) market is estimated at approximately $200 million in the U S, expected to exceed $500 million by 2029, with annual growth above 20%[20] - The company expects PNS and PRP to provide at least 200 basis points of profitable growth in 2026[22] Financial Outlook - The company reaffirmed its 2025 financial guidance, with net sales expected to be in the range of $560 million to $570 million, representing organic growth of 6% to 8%[46] - Adjusted EBITDA is projected to be in the range of $112 million to $116 million, and Adjusted Earnings Per Share in the range of $0 64 to $0 68[46]

First Quarter 2025 Performance - Revenue was $124 million, a 4% decrease due to the divestiture of the Advanced Rehabilitation business[22] - Organic growth reached 5%, demonstrating solid performance across all three business segments[22] - Adjusted EPS increased 33% to $008[12] - Adjusted EBITDA was $19 million, a $3 million decrease compared to the prior year quarter, impacted by the Advanced Rehabilitation divestiture and a $11 million foreign currency loss[22] Segment Performance - Surgical Solutions revenue increased by 7%, driven by double-digit growth in Ultrasonics with U S capital sales up more than 50%[15,29] - Pain Treatments revenue increased by 4%, with growth impacted by a 3% to 4% reduction in distributor buying following higher purchases at the end of last year[26,29] - Restorative Therapies revenue declined by 35% due to the divestiture of the Advanced Rehabilitation business, while Exogen grew by 4%[28,29] Financial Guidance and Priorities - The company reaffirms its 2025 financial guidance, with net sales expected to be in the range of $560 million to $570 million, representing organic growth of 6% to 8%[40] - Adjusted EBITDA is projected to be in the range of $112 million to $116 million, and Adjusted Earnings Per Share is expected to be in the range of $064 to $068[40] - The company forecasts at least 100 basis points of Adjusted EBITDA margin expansion in 2025[17]