Revenue: As of FY2026 Q1, the actual value is USD 132.09 M, beating the estimate of USD 129.9 M.

EPS: As of FY2026 Q1, the actual value is USD 0.04.

EBIT: As of FY2026 Q1, the actual value is USD 12.74 M.

Overall Financial Performance (Three Months Ended March 28, 2026 vs. March 29, 2025)

Net Sales

Bioventus Inc. reported total net sales of $132,089 thousand for the three months ended March 28, 2026, an increase of 6.6% from $123,876 thousand in the prior year period.

Net Income (Loss)

Net income was $3,946 thousand, a significant improvement from a net loss of - $3,322 thousand in the prior year period. Net income attributable to Bioventus Inc. was $3,113 thousand, compared to a net loss of - $2,637 thousand in the prior year.

Operating Income

Operating income increased to $8,416 thousand (6.4% of net sales) from $4,869 thousand (3.9% of net sales) in the prior year period.

Gross Profit

Consolidated gross profit was $90,769 thousand, up from $83,056 thousand, with gross margin improving to 68.7% from 67.0%.

Adjusted EBITDA

Adjusted EBITDA increased to $23,915 thousand from $19,212 thousand in the prior year period.

Segmented Net Sales Performance

U.S. Segment

Total U.S. net sales increased by $5,925 thousand, or 5.4%, to $116,445 thousand. Pain Treatments (U.S.): Net sales rose by $3,471 thousand (6.6%) to $56,157 thousand. Surgical Solutions (U.S.): Net sales increased by $1,697 thousand (4.2%) to $42,541 thousand. Restorative Therapies (U.S.): Net sales grew by $757 thousand (4.5%) to $17,747 thousand.

International Segment

Total International net sales increased by $2,288 thousand, or 17.1%, to $15,644 thousand. Pain Treatments (International): Net sales increased by $1,037 thousand (16.6%) to $7,269 thousand. Surgical Solutions (International): Net sales increased by $1,097 thousand (25.0%) to $5,487 thousand. Restorative Therapies (International): Net sales increased by $154 thousand (5.6%) to $2,888 thousand.

Segmented Gross Profit and Margin

U.S. Segment

Gross profit increased by $6,511 thousand (8.6%) to $82,040 thousand, with gross margin rising to 70.5% from 68.3%.

International Segment

Gross profit increased by $1,202 thousand (16.0%) to $8,729 thousand, with gross margin slightly decreasing by 0.6% to 55.8%.

Operational Expenses

Selling, General and Administrative Expense

Increased by $4,823 thousand (6.6%) to $78,325 thousand.

Research and Development Expense

Decreased by $544 thousand (-18.1%) to $2,467 thousand.

Restructuring Costs

Totaled $454 thousand, with a balance of restructuring liabilities of $1,161 thousand as of March 28, 2026.

Depreciation and Amortization

Decreased by $486 thousand (-30.5%) to $1,107 thousand.

Interest Expense, Net

Decreased by $3,183 thousand (-42.4%) to $4,326 thousand.

Other (Income) Expense

Shifted to - $427 thousand (income) from $777 thousand (expense).

Income Tax Expense (Benefit), Net

Increased to $571 thousand from - $95 thousand, with an effective tax rate of 12.6% (vs. 2.8% in prior year).

Cash Flow

Net Change in Cash and Cash Equivalents

Decreased by - $15,392 thousand, ending the period with $35,846 thousand.

Net Cash from Operating Activities

Increased by $28,265 thousand to $8,934 thousand.

Net Cash from Investing Activities

Decreased by - $252 thousand to - $574 thousand.

Net Cash from Financing Activities

Resulted in outflows of - $23,144 thousand.

Debt and Liquidity

2025 Term Loan

Outstanding balance was $272,076 thousand, with an effective interest rate of 5.67%.

Debt Prepayments

Bioventus Inc. made a discretionary prepayment of $22,000 thousand on the 2025 Term Loan on March 27, 2026, and an additional $10,000 thousand on April 30, 2026.

2025 Revolver

$98,400 thousand was available as of March 28, 2026.

Interest Rate Swaps

The fair value of interest rate swaps was an asset position of $9 thousand as of March 28, 2026, compared to a liability of - $991 thousand as of December 31, 2025.

Other Key Metrics

Accounts Receivable, Net

Totaled $120,525 thousand, with an allowance for credit losses of - $3,059 thousand.

Inventory

Totaled $83,187 thousand.

Accrued Liabilities

Totaled $101,135 thousand.

Equity-Based Compensation

Total expense was $3,264 thousand.

Noncontrolling Interest

Represents 18.9% ownership in BV LLC as of March 28, 2026.

Lease Liabilities

Total operating lease liabilities were $6,930 thousand and total financing lease liabilities were $9,414 thousand.

Outlook and Strategy

Bioventus Inc. plans to expand its U.S. clinical fracture care indications for fresh fractures and anticipates seeking additional capital through equity financings, further indebtedness, or other strategic sources to fund future needs and business growth. The company may also explore divestiture opportunities for non-core assets to enhance its liquidity position.