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]

Core Viewpoint - Bioventus Inc. reported a decline in revenue for the first quarter of 2025, primarily due to the divestiture of its Advanced Rehabilitation Business, but achieved organic revenue growth across all business segments, indicating resilience in its strategic execution despite macroeconomic challenges [2][6]. Financial Performance - Worldwide revenue for Q1 2025 was $123.9 million, a decrease of 4.3% from $129.5 million in the same period last year, largely impacted by the divestiture [2][5]. - Organic revenue increased by 5.0%, reflecting positive growth across all three business segments [2][6]. - The net loss attributable to Bioventus Inc. was $2.6 million, an improvement from a net loss of $4.9 million in the prior-year period [3][4]. - Adjusted EBITDA for the quarter was $19.2 million, down from $22.6 million in the previous year, primarily due to the divestiture and planned growth investments [3][6]. Revenue Breakdown by Business - U.S. revenue from Pain Treatments was $52.7 million, up 4.0% year-over-year, while Surgical Solutions revenue increased by 6.5% to $40.8 million [5][8]. - Restorative Therapies revenue fell by 32.9% to $17.0 million, significantly affected by the divestiture of the Advanced Rehabilitation Business [5][9]. - International revenue totaled $13.4 million, a decline of 12.0%, with Pain Treatments and Surgical Solutions showing modest growth, while Restorative Therapies revenue dropped by 47.1% [5][9]. Strategic Developments - The company reiterated its financial guidance for 2025, expecting net sales between $560 million and $570 million, reflecting organic growth of approximately 6.1% to 8.0% when accounting for the divestiture [10][13]. - Adjusted EBITDA guidance for 2025 is set between $112 million and $116 million, indicating a potential increase in Adjusted EBITDA margin compared to 2024 [10][13]. - Non-GAAP EPS is projected to be between $0.64 and $0.68, representing a growth of 30.6% to 38.8% [10][13].