Bioventus Inc. reported third‑quarter 2025 results, with worldwide revenue of $138.7 million, up 8.2% on an organic basis, and net income of $3.2 million versus a $5.2 million loss a year earlier.
Adjusted EBITDA reached $26.6 million, a 12.9% increase from the same period last year, and the adjusted EBITDA margin expanded to 19.2% from 17.0%.
Segment revenue: Pain Treatments $67.2 million, Surgical Solutions $50.2 million, Restorative Therapies $21.3 million. Revenue declined 0.2% year‑over‑year, largely due to the divestiture of the Advanced Rehabilitation Business, which was completed on January 2 2025. The divestiture reduced annual revenue by about $50 million and adjusted EBITDA by roughly $6 million; the residual quarterly contribution from the divested business was minimal.
GAAP earnings per diluted share were $0.05; non‑GAAP EPS was $0.15, a 200% increase from the prior year. The company beat consensus estimates of $0.03 EPS and $138.20 million revenue.
The company reaffirmed its 2025 guidance, maintaining expectations for 6%‑8% organic revenue growth, $112 million‑$116 million adjusted EBITDA, and $0.64‑$0.68 adjusted EPS.
Management highlighted disciplined cost management, a favorable product mix, and the launch of new products such as the XCELL PRP System and limited launches of StimTrial and TalisMann as drivers of margin expansion.
Bioventus also entered into a new credit agreement on July 31 2025, securing a $300 million term loan and a $100 million revolving credit facility, expected to provide interest expense savings and extend debt maturities to July 2030.
The company will discuss the results in an earnings conference call scheduled for 8:30 a.m. Eastern Time on November 4, 2025.
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