Bioventus reports third-quarter 2023 financial results
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Key takeaways:
- Bioventus reported decreased net sales and a net loss from continuing operations in its third-quarter 2023 financial results.
- The company raised its full-year adjusted earnings guidance.
Bioventus Inc. reported decreased net sales and a net loss from continuing operations in its third-quarter 2023 financial results, according to a press release.
Bioventus reported net sales of $120.8 million, a 6.1% decrease year over year. The company reported a net loss from continuing operations of $8.8 million. Bioventus also reported an adjusted earnings before interest, taxes, depreciation and amortization of $21.7 million and a loss per share of Class A common stock of $0.12.
“The enhanced visibility and predictability in our business, combined with our teams’ robust performance, has enabled us to raise our full-year adjusted earnings guidance,” Tony Bihl, interim CEO of Bioventus, said in the release. “We remain committed to further strengthening our financial position and improving profitability through revenue growth and spending discipline to create value for our stakeholders,” Bihl added.
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