Bioventus Q1 profit up 133.9% to $24.5M: 4 notes

Spinal Tech

In the first quarter, Bioventus saw year-over-year net income growth and a $45 million acquisition. 

1. The company saw net income of $24.5 million, up 133.9 percent from the same period a year prior. 

2. The company acquired Bioness for $45 million on March 30.

3. The company updated its revenue guidance for 2021, driven by first-quarter results. Bioventus now expects full-year revenue of $394 million to $406 million. 

4. Bioventus had an EBITDA of $11.1 million, down $3.2 million from the first quarter of 2020 — which their report said was driven by public company costs and higher selling expenses due to better-than-expected sales. 

"Bioventus delivered better-than-expected first quarter revenue results, driven primarily by accelerating U.S. sales growth trends as we moved through the quarter, culminating with nearly 30 percent year-over-year growth in March," said Ken Reali, CEO of Bioventu

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