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 | 10.0% | -0.9% | - |
| 2024 | $573M | $36M | $-36M | $38M | -19.5% | 11.9% | - |
| 2023 | $512M | $-23M | $-156M | $8M | -70.7% | 0.0% | - |
| 2022 | $512M | $-122M | $-159M | $-15M | -38.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 512.12 | 512.35 | 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 |
| Operating Income | -34.66 | 2.03 | 22.82 | 56.29 |
| EBITDA | -121.61 | -23.07 | 36.01 | 99.21 |
| EBIT | -177 | -80.44 | -13.55 | 52.20 |
| Pretax Income | -189.03 | -121.11 | -52.34 | 25.71 |
| Tax Provision | -44.37 | 0.09 | -5.29 | -1.56 |
| Net Income | -158.70 | -156.23 | -36.12 | 22.73 |
| Net Income Common Stockholders | -158.70 | -156.23 | -36.12 | 22.73 |
| Total Expenses | 546.77 | 510.32 | 550.46 | 511.80 |
| Interest Expense | 12.02 | 40.68 | 38.79 | 26.49 |
| Research And Development | 23.85 | 13.45 | 13.95 | 12.11 |
| Selling General And Administration | 332.13 | 303.88 | 343.80 | 314.03 |
| Normalized EBITDA | 10.97 | 60.68 | 74.03 | 101.85 |
| Normalized Income | 11.46 | -15.64 | -1.95 | 24.82 |
| Basic EPS | -2.59 | -2.49 | -0.52 | 0 |
| Diluted EPS | -2.59 | -2.49 | -0.52 | 0 |
| Tax Effect Of Unusual Items | -31.16 | -17.59 | -3.84 | -0.55 |
| Tax Rate For Calcs | 0.23 | 0.21 | 0.10 | 0.21 |
| Total Unusual Items | -132.58 | -83.75 | -38.02 | -2.64 |
| Total Unusual Items Excluding Goodwill | -132.58 | -83.75 | -38.02 | -2.64 |
| Net Income From Continuing Operation Net Minority Interest | -89.96 | -81.80 | -36.12 | 22.73 |
| Reconciled Depreciation | 55.40 | 57.37 | 49.55 | 47.01 |
| Reconciled Cost Of Revenue | 135.39 | 135.63 | 143.15 | 138.65 |
| Net Interest Income | -12.02 | -40.68 | -38.79 | -26.49 |
| Net Income From Continuing And Discontinued Operation | -158.70 | -156.23 | -36.12 | 22.73 |
| Total Operating Income As Reported | -167.23 | -81.72 | -15.20 | 53.98 |
| Diluted Average Shares | 61.39 | 62.65 | 64.55 | 0 |
| Basic Average Shares | 61.39 | 62.65 | 64.55 | 0 |
| Diluted NI Availto Com Stockholders | -158.70 | -156.23 | -36.12 | 22.73 |
| Minority Interests | 54.69 | 39.40 | 10.92 | -4.54 |
| Net Income Including Noncontrolling Interests | -213.39 | -195.62 | -47.05 | 27.27 |
| Net Income Discontinuous Operations | -68.74 | -74.43 | 0 | 0 |
| Net Income Continuous Operations | -144.65 | -121.20 | -47.05 | 27.27 |
| Other Income Expense | -142.35 | -82.46 | -36.38 | -4.10 |
| Other Non Operating Income Expenses | -9.77 | 1.29 | 1.65 | -1.45 |
| Special Income Charges | -132.58 | -83.75 | -38.02 | -2.64 |
| Gain On Sale Of Ppe | 0 | -3.58 | -0.29 | -0.08 |
| Other Special Charges | 0 | 0 | 0 | 0.33 |
| Write Off | 0 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 124.70 | 78.61 | 36.36 | 0 |
| Restructuring And Mergern Acquisition | 7.88 | 1.56 | 1.37 | 2.23 |
| Net Non Operating Interest Income Expense | -12.02 | -40.68 | -38.79 | -26.49 |
| Interest Expense Non Operating | 12.02 | 40.68 | 38.79 | 26.49 |
| 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 |
| Operating Revenue | 512.12 | 512.35 | 573.28 | 568.09 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bioventus Inc.this co. | BVS | $654M | 29.30 | 3.52 | 10.0% | 12.31 |
| Enhabit, Inc. | EHAB | $704M | - | 1.31 | -0.8% | 13.72 |
| Solid Biosciences Inc. | SLDB | $694M | - | 3.09 | -96.8% | -2.97 |
| Ironwood Pharmaceuticals, Inc. | IRWD | $683M | 27.67 | -2.58 | -9.2% | 8.78 |
| Eton Pharmaceuticals, Inc. | ETON | $645M | - |
| 24.38 |
| -17.6% |
| 73.07 |
| HealthStream, Inc. | HSTM | $641M | 34.05 | 1.76 | 5.2% | 9.46 |
| Prime Medicine, Inc. | PRME | $638M | - | 5.17 | -166.4% | -2.81 |
| Arvinas, Inc. | ARVN | $628M | - | 1.44 | -18.6% | 0.43 |
| Aclaris Therapeutics, Inc. | ACRS | $624M | - | 5.23 | -63.0% | -6.08 |
| Peer Median | - | 30.86 | 2.43 | -18.1% | 4.61 | |