Bioventus Inc. BVS

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

We are a global medical device company focused on helping patients recover and live life to the fullest by relieving pain and addressing musculoskeletal challenges through a diverse portfolio of high-quality, innovative, and clinically-proven solutions. We manage our business through two reporting segments, U.S. and International, which accounted for 88% and 12%, respectively, of our total net sales during the fiscal year ended December 31, 2025.

Our portfolio of products is comprised of five patient-focused areas, grouped into three businesses based on clinical use: (i) Pain Treatments & PRP ("Pain Treatments"), (ii) Surgical Solutions and (iii) Restorative Therapies.

◦Knee Osteoarthritis ("KOA"): Our product portfolio includes a range of intra-articular, hyaluronic acid ("HA") injections that help relieve patient discomfort and improve quality of life. In the U.S., we also distribute the XCELL Platelet-Rich Plasma ("PRP") system, a technology that is synergistic with our existing physician call points, as many surgeons who use HA also use PRP.

Last close 14.96 2026-10-23
Market cap $1.02B estimated share count
52-week range 6.47 - 15.89

Valuation FY2025 figures against the last close

P/S1.8x
P/E45.3x
P/FCF14.1x
EV/EBITDA12.5x
Dividend yield—
Diluted EPS0.33

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $568.1M$573.3M$512.3M$512.1M$430.9M$321.2M$340.1M—
Cost of revenue $179.9M$185.1M$184.2M$181.0M$128.2M$87.6M$90.9M—
Gross profit $388.2M$388.2M$328.2M$331.1M$302.7M$233.5M$249.2M—
R&D $12.1M$14.0M$13.4M$23.9M$19.0M$11.2M$11.1M—
SG&A $314.0M$343.8M$303.9M$332.1M$254.3M$193.1M$198.5M—
Operating income $54.0M-$15.2M-$81.7M-$167.2M$12.1M$21.2M$31.2M—
Pre-tax income $25.7M-$52.3M-$121.1M-$189.0M$9.5M$15.9M$9.7M—
Income tax $1.6M$5.3M$85.0K$44.4M$2.0M$1.2M$1.6M—
Net income $22.7M-$36.1M-$156.2M-$158.7M$19.4M$16.4M$6.9M—
EPS, basic 0.34-0.56-2.49-2.59-0.15———
EPS, diluted 0.33-0.56-2.49-2.59-0.15———
Shares, diluted (wtd. avg.) 68.9M64.5M62.6M61.4M45.5M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $51.2M$41.6M$37.0M$31.8M$99.2M$86.8M$64.5M$42.8M
Receivables $128.3M$127.4M$122.8M$136.3M$125.0M$88.3M——
Inventory $82.2M$92.5M$91.3M$84.8M$61.7M$29.1M——
Total current assets $272.8M$275.6M$268.0M$272.6M$263.1M$211.8M——
Property, plant and equipment ———$27.6M$23.0M$6.9M——
Goodwill $7.5M$7.5M$7.5M$7.5M$147.6M$49.8M——
Other intangibles $368.4M$404.7M$482.4M$639.9M$695.2M$191.7M——
Total assets $683.6M$728.0M$810.9M$1.37B$1.23B$494.5M——
Accounts payable $10.9M$23.7M$23.0M$36.7M$16.9M$4.4M——
Short-term debt $15.0M$27.3M$27.8M$33.1M$18.0M$15.0M——
Total current liabilities $160.4M$210.4M$175.5M$304.0M$180.9M$122.6M——
Long-term debt $279.0M$308.3M$367.0M$385.0M$339.6M$173.4M——
Total liabilities $455.1M$542.4M$589.8M$960.4M$618.2M$350.3M——
Retained earnings -$334.9M-$357.7M-$321.5M-$165.3M-$6.6M———
Total equity $184.1M$147.9M$221.1M$412.2M$607.7M———

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $74.7M$38.8M$15.3M-$13.5M$23.0M$71.8M$40.7M—
Depreciation and amortisation $47.0M$49.6M$57.4M$55.4M$34.9M$28.6M$30.3M—
Stock-based compensation $12.7M$13.3M$2.7M$17.6M$19.8M$0$0—
Capital expenditure $2.6M$1.0M$7.4M$1.5M$13.5M$16.6M$2.3M—
Investing cash flow -$3.2M$23.0M$15.8M-$116.4M-$283.8M-$20.5M-$7.9M—
Financing cash flow -$62.1M-$54.6M-$26.7M$62.1M$273.4M-$29.6M-$11.0M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001665988-26-000011.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2019: 340.1M Gross profit, FY2019: 249.2M Net income, FY2019: 6.9M Revenue, FY2020: 321.2M Gross profit, FY2020: 233.5M Net income, FY2020: 16.4M Revenue, FY2021: 430.9M Gross profit, FY2021: 302.7M Net income, FY2021: 19.4M Revenue, FY2022: 512.1M Gross profit, FY2022: 331.1M Net income, FY2022: -158.7M Revenue, FY2023: 512.3M Gross profit, FY2023: 328.2M Net income, FY2023: -156.2M Revenue, FY2024: 573.3M Gross profit, FY2024: 388.2M Net income, FY2024: -36.1M Revenue, FY2025: 568.1M Gross profit, FY2025: 388.2M Net income, FY2025: 22.7M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $340.1M $321.2M $430.9M $512.1M $512.3M $573.3M $568.1M
Gross profit — $249.2M $233.5M $302.7M $331.1M $328.2M $388.2M $388.2M
Net income — $6.9M $16.4M $19.4M -$158.7M -$156.2M -$36.1M $22.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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