The following is a summary of the Bioventus Inc. (BVS) Q4 2023 Earnings Call Transcript:
Financial Performance:
Bioventus reported Q4 revenue of $135 million, an 8% increase from the previous year.
Adjusted gross margin improved slightly to 71% and adjusted operating income rose to $20 million.
The company reported adjusted net income of $6 million, a significant turnaround from the loss of $6 million a year ago.
For 2024, Bioventus projects net sales ranging from $520m to $535m and adjusted EBITDA between $89m and $94m.
Business Progress:
Bioventus noted improvements in their commercial business and anticipates mid to high single-digit revenue growth in their Pain Treatments segment.
Despite a 16% drop in Restorative Therapies sales, the company expects this segment to see low single-digit growth in 2024.
The international segment is projected to see double-digit growth in 2024.
In 2024, the company will prioritize revenue growth, operational efficiency, future profitability, and improved cash flow position.
The CEO's plan for 2024 includes accelerating revenue across the HA, Surgical Solutions businesses and the International segment, reducing costs related to acquisition integrations, and driving a reduction in inventories to increase cash flow.
More details: Bioventus IR
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