Q1 2025 Bioventus Inc Earnings Call Transcript
Key Points
- Bioventus Inc (BVS) reported first quarter revenue of $124 million, reflecting above-market organic growth of 5%.
- The company achieved a 33% increase in adjusted earnings per share, driven by strong gross margins and lower interest expenses.
- Surgical Solutions revenue advanced by 7%, with double-digit growth in Ultrasonics due to market expansion and new capital placements.
- Bioventus Inc (BVS) expanded its pain treatment portfolio by signing an exclusive distribution agreement for the XCELL PRP system, entering a large and fast-growing market.
- The company is on track to achieve at least 100 basis points of adjusted EBITDA margin expansion for the year, supported by strong gross margins and revenue growth acceleration in the second half.
- First quarter revenue declined by 4% due to the divestiture of the advanced rehabilitation business.
- Adjusted EBITDA was $3 million lower than the prior year, impacted by the divestiture and a $1.1 million foreign currency loss.
- International segment revenue declined by 12%, with only 1% organic growth, affected by the timing of distributor orders.
- Adjusted gross margin decreased by 70 basis points due to channel mix and higher freight costs.
- Operating cash flow was an outflow of $19 million, influenced by timing of employee bonus payments and other annual costs.
Good day, and welcome to the Bioventus first quarter 2025 conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Mr. Dave Crawford. Please go ahead, sir.
Thanks, Chuck, and good morning, everybody. And thanks for joining us. It's my pleasure to welcome you to the Bioventus 2025 first quarter earnings conference call. With me this morning are Rob Claypoole, President and CEO; and Mark Singleton, Senior Vice President and CFO.
Rob will begin his remarks with an update on our business and our 2025 priorities and then provide a brief discussion on the current macro environment. Then Mark will review our first quarter results and discuss our outlook, including our 2025 financial guidance. We'll finish the call with Q&A. A presentation for today's call is available on the Investors section of our website Bioventus.com.
Before we begin, I would like to remind everyone that our
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