Bioventus Inc. · NASDAQ:BVS

Bioventus — Q3 2026 Earnings Presentation

21 slides from Bioventus's earnings presentation, Nov 2, 2026

  1. Slide 1: Third Quarter 2026 Financial Results

    Third Quarter 2026 Financial Results November 2, 2026

  2. Slide 2: Agenda and Speakers

    Agenda and Speakers Rob Claypoole Mark Singleton President and Senior Vice President Chief Executive Officer and Chief Financial Officer Update on Business and Q3 2026 Results 2026 Priorities 2026 Financial Guidance 2

  3. Slide 3: Forward Looking Statements and Use of Estimates

    Forward Looking Statements and Use of Estimates Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained i

  4. Slide 4: Summary of GAAP Results for the Third Quarter

    Summary of GAAP Results for the Third Quarter • Reported net sales of $142 million compared to net sales of $139 million in the prior year period • Net income attributable to Bioventus of $6 million compared to net income of $3 million in the prior year period • Gross profit of $97 million compared

  5. Slide 5: Delivered Another Quarter of Solid Financial Results

    Delivered Another Quarter of Solid Financial Results • Solid financial performance • Encouraging leading indicators across growth drivers • Ability to create sustainable, long-term value for shareholders • The strategic review process is ongoing, and we will continue to take the time necessary to fu

  6. Slide 6: Progressing Well Across All Three 2026 Priorities

    Progressing Well Across All Three 2026 Priorities • Delivered 3% revenue growth, led by 6% growth in Pain Treatments • Performance was impacted by softness in Bone Graft Substitutes (BGS) within Surgical Solutions • Revenue growth excluding BGS was 6% for the quarter • Accelerated PRP capital placem

  7. Slide 7: Progressing Well Across All Three 2026 Priorities

    Progressing Well Across All Three 2026 Priorities • Continue to gain traction and strengthen confidence in PNS market opportunity and our product offering • Key performance indicators point to growing physician engagement and improving conversion efficiency • Strengthened PNS leadership and commerci

  8. Slide 8: Progressing Well Across All Three 2026 Priorities

    Progressing Well Across All Three 2026 Priorities • Delivered Adjusted EBITDA* margin of 20%, an improvement of 70 bps compared to the prior year period • Expect full-year Adjusted EBITDA* margin to be above the prior year, reflecting ability to balance investment with operating discipline • Generat

  9. Slide 9: Third Quarter Results

    Third Quarter Results Mark Singleton Senior Vice President and Chief Financial Officer 9

  10. Slide 10: Third Quarter Performance

    Third Quarter Performance • Revenue of $142 million increased 3% compared to prior year quarter • Growth was driven by significant strength in Pain Treatments • Strong performance in other areas of the portfolio • Partially offset by slowdown in BGS within Surgical Solutions • Generated Adjusted EBI

  11. Slide 11: Third Quarter Performance

    Third Quarter Performance Pain Treatments Revenue Surgical Solutions Revenue Restorative Therapies Revenue Millions Millions Millions $71 $67 $50 $51 $21 $21 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 • Pain Treatments increased 6% • Surgical Solutions increased 1% • Restorative Therapies decli

  12. Slide 12: Third Quarter Performance

    Third Quarter Performance Adjusted Gross Profit* Millions Adjusted Gross Margin* • Adjusted Gross Margin* $106 $104 decreased 50 basis points due to product mix • Increase in PNS and PRP revenue 75.2% 74.7% • Decrease in BGS revenue Q3 2025 Q3 2026 * See important disclosures on non-GAAP financial m

  13. Slide 13: Third Quarter Performance

    Third Quarter Performance $0.17 Adjusted Earnings Per Diluted Share* Adjusted EBITDA* Adjusted Operating Income* Adjusted Net Income* Millions Millions Millions $28 $24 $23 $27 $15 $13 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 • Adjusted EBITDA* improved due to an increase • Total Adjusted R&D

  14. Slide 14: Third Quarter Performance: Balance Sheet and Cash Flow

    Third Quarter Performance: Balance Sheet and Cash Flow • Cash from operations was $21 million • Ended third quarter with $31 million of cash and $230 million of debt outstanding • Debt decreased $19 million during the quarter and $65 million year-to-date • Expect net leverage ratio to be below 1.5 t

  15. Slide 15: 2026 Financial Guidance

    2026 Financial Guidance • Reaffirming Adjusted Earnings Per Diluted Share* of $0.75 to $0.79 • Presenting Adjusting Cash from Operations* guidance of $84 million to $89 million, which excludes the cash flow impact of the costs related to the Company’s review of potential strategic alternatives • Upd

  16. Slide 16: Bioventus - Innovations For Active Healing

    @ bioventus Innovations For Active Healing

  17. Slide 17: Reconciliation of Net Income to Adjusted EBITDA (unaudited)

    Reconciliation of Net Income to Adjusted EBITDA (unaudited) (a) Includes for the three and nine months ended September 26, 2026 and September 27, 2025, respectively, depreciation and amortization of $9.3 million, $10.0 million, $29.2 million, and $30.9 million in cost of sales and $1.1 million, $1.4

  18. Slide 18: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Three Months)

    Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Three Months Ended) (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating expense line items, excluding research and development. (b) Includes for the three and nine months ended S

  19. Slide 19: Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (Nine Months)

    Reconciliation of Other Reported GAAP Measures to Non-GAAP Measures (for Nine Months Ended) (a) The "Reported GAAP Measure" under the "Operating Expenses" column is a sum of all GAAP operating expense line items, excluding research and development. Nine Months Ended September 26, Operating Operating

  20. Slide 20: Use of Non-GAAP Financial Measures

    Use of Non-GAAP Financial Measures Organic Revenue Growth The Company defines the term “organic revenue” as revenue in the stated period excluding the impact from business acquisitions and divestitures. The Company uses the related term “organic revenue growth” or "organic growth" to refer to the fi

  21. Slide 21: Use of Non-GAAP Financial Measures

    Use of Non-GAAP Financial Measures Net Sales, International Net Sales Growth and Constant Currency Basis Net Sales, International Net Sales Growth and Constant Currency Basis are non-GAAP measures, which are calculated by translating current and prior-year results at the same foreign currency exchan

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