$BVS

Bioventus Inc.

CIK:0001665988|SEC Filings

Consolidated Condensed Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 153,208	$ 147,660	$ 285,297	$ 271,536
Cost of sales (including depreciation and amortization of $9,893, $10,603, $19,980 and $20,868, respectively)	47,542	45,570	88,862	86,390
Gross profit	105,666	102,090	196,435	185,146
Selling, general and administrative expense	82,740	79,110	161,065	152,612
Research and development expense	3,173	3,172	5,640	6,183
Restructuring costs	(415)	0	39	0
Depreciation and amortization	1,041	1,439	2,148	3,032
Loss on disposals	0	1	0	82
Operating income	19,127	18,368	27,543	23,237
Interest expense, net	4,068	7,494	8,394	15,003
Other (income) expense	(249)	561	(676)	1,338
Other expense	3,819	8,055	7,718	16,341
Income before income taxes	15,308	10,313	19,825	6,896
Income tax (benefit) expense, net	(20,897)	1,041	(20,326)	946
Net income	36,205	9,272	40,151	5,950
Income attributable to noncontrolling interest	(2,764)	(1,813)	(3,597)	(1,128)
Net income attributable to Bioventus Inc.	33,441	7,459	36,554	4,822
Change in foreign currency translation adjustments	243	1,593	(1,225)	2,226
Change in the fair value of cash flow hedges	928	0	1,928	0
Comprehensive income	37,376	10,865	40,854	8,176
Comprehensive income attributable to noncontrolling interest	(2,984)	(2,118)	(3,728)	(1,555)
Comprehensive income attributable to Bioventus Inc.	$ 34,392	$ 8,747	$ 37,126	$ 6,621
Income per share of Class A common stock:
Basic (in dollars per share)	$ 0.49	$ 0.11	$ 0.54	$ 0.07
Diluted (in dollars per share)	$ 0.47	$ 0.11	$ 0.52	$ 0.07
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	67,869,148	66,500,433	67,589,178	66,258,679
Diluted (in shares)	70,838,486	68,536,759	70,429,825	68,765,591

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Operating activities:
Net income	$ 40,151	$ 5,950
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	22,150	23,914
Provision for credit losses	145	843
Equity-based compensation	8,305	6,057
Deferred income taxes	(22,154)	87
Loss on disposals	0	82
Unrealized loss (gain) on foreign currency fluctuations	108	(365)
Other, net	445	763
Changes in operating assets and liabilities:
Accounts receivable	(10,623)	(4,625)
Inventories	316	(4,690)
Accounts payable and accrued expenses	(11,548)	(22,681)
Other current and noncurrent assets and liabilities	1,512	1,272
Net cash from operating activities	28,807	6,607
Investing activities:
Settlement from the sale of a business	0	(686)
Purchase of property and equipment	(1,534)	(1,509)
Purchase of equity securities	(1,500)	0
Net cash from investing activities	(3,034)	(2,195)
Financing activities:
Proceeds from issuance of Class A common stock	973	1,467
Tax withholdings on equity-based compensation	(1,338)	0
Payment of contingent consideration	0	(19,771)
Borrowing on revolver	0	15,000
Payment on revolver	0	(10,000)
Payments on long-term debt	(45,750)	0
Other, net	(461)	(412)
Net cash from financing activities	(46,576)	(13,716)
Effect of exchange rate changes on cash	(978)	632
Net change in cash and cash equivalents	(21,781)	(8,672)
Cash and cash equivalents at the beginning of the period	51,238	41,582
Cash and cash equivalents at the end of the period	29,457	32,910
Supplemental disclosure of noncash investing and financing activities:
Accounts payable for purchase of property, plant and equipment	$ 136	$ 196

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 29,457	$ 51,238
Accounts receivable, net	138,406	128,303
Inventory	79,807	82,236
Prepaid and other current assets	9,857	11,065
Total current assets	257,527	272,842
Property and equipment, net	20,527	21,899
Goodwill	7,462	7,462
Intangible assets, net	351,046	368,419
Operating lease assets	4,225	5,122
Deferred tax assets	29,052	5,522
Investment and other assets	3,507	2,293
Total assets	673,346	683,559
Current liabilities:
Accounts payable	20,196	10,928
Accrued liabilities	109,361	130,242
Current portion of long-term debt	18,750	15,000
Other current liabilities	4,144	4,210
Total current liabilities	152,451	160,380
Long-term debt, less current portion	229,702	278,951
Deferred income tax liabilities	568	433
Other long-term liabilities	13,213	15,348
Total liabilities	395,934	455,112
Commitments and contingencies (Note 11)
Stockholders’ Equity
Additional paid-in capital	527,925	520,851
Accumulated deficit	(298,375)	(334,929)
Accumulated other comprehensive loss	(1,328)	(1,900)
Total stockholders’ equity attributable to Bioventus Inc.	228,306	184,105
Noncontrolling interest	49,106	44,342
Total stockholders’ equity	277,412	228,447
Total liabilities and stockholders’ equity	673,346	683,559
Common Class A
Stockholders’ Equity
Common stock, value	68	67
Common Class B
Stockholders’ Equity
Common stock, value	$ 16	$ 16