Bioventus Inc., a medical device company, focuses on relieving pain and addressing musculoskeletal therapies in the United States and internationally. The company's product portfolio includes pain treatments, which comprise various intra-articular and hyaluronic acid injections; peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for the treatment of knee osteoarthritis; and Stimrouter to treat chronic peripheral pain, and TalisMann provides stimulation to the targeted peripheral nerve, as well as XCELL PRP System, a benchtop device that processes whole blood to produce high-yield PRP with a 10-minute single-spin cycle. It also offers precision bone resection for patients with degenerative spine conditions and spinal deformities, as well as enables precision ultrasonic neuro and general surgery to address brain tumors and pathologies of the liver and other organs; and bone graft substitutes, including various products that facilitate optimal bone fusion. In addition, the company provides neXus, an ultrasonic surgical system; BoneScalpel, a surgical solution enabling precise cuts in hard tissue; BoneScalpel Access, for bone removal with visualization; SonaStar system, a precise ablation and removal of soft tissue; SonaStar Elite handpiece and accessories; SonicOne, an ultrasonic cleansing and debridement system; Osteoamp, an allograft-derived bone graft for orthopedic, neurosurgical, and reconstructive bone grafting procedures; Signafuse bone graft; Purebone, a natural osteoconductive scaffold; and Reficio demineralized bone matrix. The company's restorative therapies include minimally invasive fracture treatments and rehabilitation products. Its products also include Exogen, an ultrasound bone stimulation system. The company sells its products to healthcare institutions, physicians, patients, distributors and dealers. Bioventus Inc. was founded in 2011 and is headquartered in Durham, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $568M | $99M | $23M | $72M | 12.3% | -0.9% | -162.9% |
| 2024 | $573M | $36M | $-36M | $38M | -24.4% | 11.9% | -76.9% |
| 2023 | $512M | $-23M | $-156M | $8M | -90.0% | 0.0% | -1.6% |
| 2022 | $512M | $-122M | $-159M | $-15M | -48.8% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 512.12 | 512.34 | 573.28 | 568.09 |
| Operating Revenue | - | 512.12 | 512.34 | 573.28 | 568.09 |
| Cost Of Revenue | - | 181.04 | 184.15 | 185.05 | 179.93 |
| Gross Profit | - | 331.08 | 328.19 | 388.23 | 388.16 |
| Operating Expense | - | 365.74 | 326.17 | 365.40 | 331.87 |
| Research And Development | - | 23.85 | 13.45 | 13.95 | 12.11 |
| Selling General And Administration | - | 332.13 | 303.88 | 343.80 | 314.03 |
| Total Expenses | - | 546.77 | 510.32 | 550.46 | 511.80 |
| Operating Income | - | -34.66 | 2.03 | 22.82 | 56.29 |
| Total Operating Income As Reported | - | -167.23 | -81.72 | -15.20 | 53.98 |
| EBITDA | - | -121.61 | -23.07 | 36.01 | 99.21 |
| Normalized EBITDA | - | 10.97 | 60.68 | 74.03 | 101.85 |
| EBIT | - | -177 | -80.44 | -13.55 | 52.20 |
| Interest Expense | - | 12.02 | 40.68 | 38.79 | 26.49 |
| Net Interest Income | - | -12.02 | -40.68 | -38.79 | -26.49 |
| Other Non Operating Income Expenses | - | -9.77 | 1.29 | 1.64 | -1.45 |
| Other Income Expense | - | -142.35 | -82.46 | -36.38 | -4.10 |
| Interest Expense Non Operating | - | 12.02 | 40.68 | 38.79 | 26.49 |
| Net Non Operating Interest Income Expense | - | -12.02 | -40.68 | -38.79 | -26.49 |
| Pretax Income | - | -189.02 | -121.11 | -52.34 | 25.71 |
| Tax Provision | - | -44.37 | 0.08 | -5.29 | -1.56 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -31.16 | -17.59 | -3.84 | -0.55 |
| Net Income Continuous Operations | - | -144.65 | -121.20 | -47.05 | 27.27 |
| Net Income From Continuing And Discontinued Operation | - | -158.70 | -156.23 | -36.12 | 22.73 |
| Net Income From Continuing Operation Net Minority Interest | - | -89.96 | -81.80 | -36.12 | 22.73 |
| Net Income | - | -158.70 | -156.23 | -36.12 | 22.73 |
| Net Income Common Stockholders | - | -158.70 | -156.23 | -36.12 | 22.73 |
| Net Income Including Noncontrolling Interests | - | -213.39 | -195.62 | -47.05 | 27.27 |
| Normalized Income | - | 11.46 | -15.64 | -1.95 | 24.82 |
| Diluted NI Availto Com Stockholders | - | -158.70 | -156.23 | -36.12 | 22.73 |
| Basic Average Shares | 45.47 | 61.39 | 62.65 | 64.55 | - |
| Diluted Average Shares | 45.47 | 61.39 | 62.65 | 64.55 | - |
| Reconciled Depreciation | - | 55.40 | 57.36 | 49.56 | 47.01 |
| Reconciled Cost Of Revenue | - | 135.39 | 135.63 | 143.15 | 138.65 |
| Total Unusual Items | - | -132.58 | -83.75 | -38.02 | -2.64 |
| Total Unusual Items Excluding Goodwill | - | -132.58 | -83.75 | -38.02 | -2.64 |
| Minority Interests | - | 54.69 | 39.40 | 10.92 | -4.54 |
| Net Income Discontinuous Operations | - | -68.74 | -74.43 | 0 | 0 |
| Special Income Charges | - | -132.58 | -83.75 | -38.02 | -2.64 |
| Other Special Charges | - | - | - | - | 0.33 |
| Write Off | 5.67 | 0 | 0 | - | - |
| Impairment Of Capital Assets | - | 124.70 | 78.61 | 36.36 | 0 |
| Restructuring And Mergern Acquisition | - | 7.88 | 1.56 | 1.37 | 2.24 |
| Depreciation Amortization Depletion Income Statement | - | 9.75 | 8.84 | 7.65 | 5.73 |
| Depreciation And Amortization In Income Statement | - | 9.75 | 8.84 | 7.65 | 5.73 |
| Gain On Sale Of Ppe | - | 0 | -3.58 | -0.29 | -0.08 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bioventus Inc.this co. | BVS | $589M | 25.93β premium | 3.20 | 12.3% | 8.39 |
| Beta Bionics, Inc. | BBNX | $619M | -8.46 | 2.15 | -25.5% | -8.64 |
| Gyre Therapeutics, Inc. | GYRE | $601M | 119.48 | 5.66 | 4.7% | 40.29 |
| Phreesia, Inc. | PHR | $599M | 259.74 | 1.78 | 0.7% | 21.30 |
| Ginkgo Bioworks Holdings, Inc. | DNA | $591M | -1.89 |
| - |
| - |
| - |
| - |
| 1.16 |
| -61.5% |
| -3.39 |
| Altimmune, Inc. | ALT | $568M | -6.45 | 2.53 | -39.2% | -6.43 |
| Tactile Systems Technology, Inc. | TCMD | $568M | 29.74 | 2.59 | 8.7% | 12.42 |
| MiMedx Group, Inc. | MDXG | $563M | 11.59 | 2.19 | 18.9% | 5.27 |
| Rigel Pharmaceuticals, Inc. | RIGL | $560M | 1.52 | 1.43 | 93.8% | 4.35 |
| Peer Median | - | 6.56 | 2.17 | 2.7% | 4.81 | |