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Bioventus Inc. (BVS+1.23%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net sales of $573,280,000 for 2024, an increase from $512,345,000 in 2023. The increase is attributed to volume growth in Pain Treatments and Surgical Solutions.
Cost of sales for 2024 was $185,054,000, representing 32.3% of net sales, compared to 35.9% in the previous year. The decrease in cost ratio is due to a favorable product mix.
The company recorded a gross profit of $388,226,000 for 2024, compared to $328,193,000 in 2023, with the increase driven by higher net sales and improved gross margins.
Selling, general, and administrative expenses increased to $340,894,000 from $303,879,000, primarily due to higher compensation costs and legal expenses related to shareholder litigation.
Research and development expenses remained relatively consistent year-over-year at $13,639,000, focusing on internal development and clinical research.
The company reported a net loss from continuing operations of $43,833,000 for 2024, compared to a net loss of $121,196,000 in 2023. The reduction in net loss is due to higher sales and improved gross profit.
Bioventus recorded an impairment of assets totaling $36,357,000 in 2024, primarily related to the divestiture of its Advanced Rehabilitation Business.
Interest expense was $38,792,000, a decrease from $40,676,000 in the prior year, due to lower debt levels and interest rates.
Adjusted EBITDA for 2024 was $108,882,000, up from $88,862,000 in 2023, reflecting improved operating performance.
The filing also details the sale of the Advanced Rehabilitation Business, which closed on December 31, 2024, for $24.7 million, with potential additional earn-out payments based on future performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bioventus Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.