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Bioventus Inc. (BVS) stock

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NASDAQ: BVS Nasdaq Health Care Equipment Next results ~February 1, 2027

C+ Fundamentals grade

Bioventus Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$8.6

Cash-flow model

Base case. Range ~$5.6–$13 across our lower- and higher-growth cases (-0.5%–9.5% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 35% below it.

Price used: $13.15, November 2, 2026

Bioventus Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds100 adding, 59 cuttingOf 43 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Bioventus files

Where Bioventus stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $582m, up 3.1% on a year earlier, faster than the 1.5% growth a quarter earlier. Free-cash-flow margin rose to 16.2% from 6.0% a year earlier. Operating margin widened to 10.0% from 6.1%. The diluted share count is up 6.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $5.17 a share, against a share price of $15.09.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 1, 2027 (estimated)

Bioventus Inc.'s trailing-twelve-month revenue grew 3.9% year on year, with a free-cash-flow margin of 14.5%. Where it stands out: free-cash-flow margin of 14.5% ranks 23 of 128 health care equipment companies we cover. Where it lags: days sales outstanding of 86 days ranks 100 of 118 health care equipment companies we cover.

Our discounted-cash-flow model values the business at ~$8.6 per share in the base case (~$5.6–$13 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 58.9% while net income grew 655.0%: a 596pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $13.15 is 35% above our value per share of $9.
  • Share dilution. Diluted shares rose 6.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of 0.7 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 86 days ranks 100 of 118 health care equipment companies we cover (median 57 days).

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
$0.17 against an average estimate of $0.16: beat by 6.2%
Revenue
$142m, up 2.7% on a year earlier
Guidance given
net sales $600m to $610m (twelve months ending December 31, 2026); adjusted EPS $0.75 to $0.79 (twelve months ending December 31, 2026)
Next report
November 2, 2026; average EPS estimate $0.25

Bioventus' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.3%
  • 1 week-10.7%
  • 1 month+0.2%
  • This year+76.7%
  • 1 year+100.8%
  • 5 years-21.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$586M
Operating margin
9.7%
Net margin
9.8%
EPS (TTM, diluted)
$0.80

Growth

Revenue growth
+3.9%
Change in growth rate
+0.7 pts
Share count change
+6.2%

Cash

Free cash flow (TTM)
$85M
FCF margin
14.5%
Stock pay % of revenue
2.8%

Earnings

Last results
November 2, 2026
Next results (est.)
February 1, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Bioventus Inc. valuation models and calculator

What the price is pricing in

The share price implies about 8.5% a year of cash-flow growth for five years.That is close to the 6.3% a year revenue growth Bioventus has delivered.

  • Priced in8.5%
  • Last 12 months3.9%
  • 3 years a year5.2%
  • 5 years a year6.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($11.08, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$8.6
Price used
$11.08close November 3, 2026
Implied change
▼ 22%
Uncertainty
High

How we got here: a discounted-cash-flow model of Bioventus Inc.'s free cash flow after stock-based pay with after-tax interest added back ($43.8M, FY2026 Q3 TTM), growing 7.4% and 5.2% in the next two years (forecasts, guidance and its record), then back to 4.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$5.6–~$13 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Bioventus Inc.'s free cash flow after stock-based pay ( $43.8M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Bioventus Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.91 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$8.6 ~$5.6–$13 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$15 ~$13–$24 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$11 ~$8.6–$15 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Bioventus Inc. with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −30%
  • Revenue growth 5 points higher ▲ +39%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▲ +70%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $5$8$13$18$25$34
8.5% $3$5$8$12$17$24
10% $2$4$6$9$13$18

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$14.49$2.61$5.27$10.50$7.44$13.15
Market value$659m$160m$330m$678m$513m$939m
+ Net debt (− = net cash)$314m$388m$358m$294m$243m$199m
Enterprise value$973m$548m$688m$972m$755m$1.1bn
Multiples
Price / sales 1.5x0.3x0.6x1.2x0.9x1.6x
Price / earnings 34.0x———22.6x16.4x
Price / free cash flow 69.6x—41.4x17.9x7.1x11.0x
EV / EBITDA 20.7x——28.3x7.5x13.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

43 /100

Weak moat

How hard Bioventus's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Cash operating profit has been a median 5.1% of total assets over 5 years.

  • Pricing power 19 / 20

    Gross margin has been a median 67.4%, moving by 2.8 percentage points (standard deviation) across 6 years.

  • Durability 0 / 20

    Operating margin has been a median 0.7%; its worst year was -29.9%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 5 of 6 years, at a median 4.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.78 +14% $605m +7%
Next $0.92 +18% $646m +7%

Next year's EPS estimate has moved +1.3% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.3% on 90 days ago. In the last 30 days, 0 analysts raised Bioventus Inc.'s forecast and 1 cut it.

Consensus EPS forecast Bioventus Inc., last 90 days
$0.75 $0.80 $0.85 $0.90 $0.95 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.78 Current fiscal year, 60 days ago: $0.78 Current fiscal year, 30 days ago: $0.78 Current fiscal year, 7 days ago: $0.78 Current fiscal year, Now: $0.78 $0.78 Next fiscal year, 90 days ago: $0.91 Next fiscal year, 60 days ago: $0.92 Next fiscal year, 30 days ago: $0.92 Next fiscal year, 7 days ago: $0.92 Next fiscal year, Now: $0.92 $0.92

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.78$0.91
60 days ago $0.78$0.92
30 days ago $0.78$0.92
7 days ago $0.78$0.92
Now $0.78$0.92

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.16 $0.17 +6.2%
Jun 2026 $0.22 $0.22 +0.9%
Mar 2026 $0.07 $0.15 +120.6%
Dec 2025 $0.22 $0.24 +10.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Net sales twelve months ending December 31, 2026 $600m to $610m Maintained
    “Net sales of $600 million to $610 million.” source
  • Adjusted EPS twelve months ending December 31, 2026 $0.75 to $0.79 Non-GAAP Maintained
    “Adjusted EPS* of $0.75 to $0.79.” source
  • Cash from Operations twelve months ending December 31, 2026 $84m to $89m Maintained
    “Cash from Operations of $84 million to $89 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Bioventus Inc.'s revenue by +7.4% next year and +5.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.5%, weight 51%) , management guidance (+8.5%, weight 21%) and the company's own record (+4.5%, weight 28%) . How the weights are set.

Analyst recommendations

5 analysts, Nov 2026
Buy5100%
Hold00%
Sell00%

Monthly trend

  1. Nov 2026235
  2. Oct 2026235

Counts of recommendations published by analysts covering Bioventus Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.8%
of tradable shares
Days to cover
7.53
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
85%
of shares
Held by insiders
11.7%
of shares
Employees
950
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +100.8%

$6.55 on October 31, 2025 to $13.15

ThenNowEffect
Revenue (last 12 months) $564m $582m +3.1%
P/S multiple 0.8x 1.6x +106.9%
Share count 66m 70m −5.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +242.4%

$3.84 on November 3, 2023 to $13.15

ThenNowEffect
Revenue (last 12 months) $511m $582m +13.9%
P/S multiple 0.5x 1.6x +241.3%
Share count 62m 70m −11.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
BVS−82%+102%+99%−29%+77%
Industry peers (median)−37%−9%−20%−16%−15%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
BVS33%58%58%33%64%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
BVS−88%−69%−31%−44%−28%
S&P 500−25%−10%−8%−19%−9%

Worst fall since February 11, 2021: 95% from February 11, 2021 to May 4, 2023. Getting back needed a 1975% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$6.53 – $15.26
From 52-week high
−13.8%
vs 50-day average
−3.9%
vs 200-day average
+20.3%
Volatility (1 year)
52%
Beta vs S&P 500
0.70

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±10.5%
After a week
8 up, 3 down
typical move ±14.1%
After a month
6 up, 5 down
typical move ±20.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +4.2% −0.4% +3.7% +7.0%
May 6, 2026 −0.3% +1.1% −2.6% −15.4%
March 5, 2026 −0.7% −1.9% +1.5% +6.5%
November 4, 2025 +12.5% −0.8% +17.4% +16.2%
August 6, 2025 +12.9% +0.7% +22.6% +17.1%
May 6, 2025 −6.3% −0.4% −7.0% −7.4%
March 11, 2025 +15.0% −0.3% +9.1% −9.2%
November 5, 2024 −17.7% +3.7% −13.6% −15.1%
August 6, 2024 +19.2% +0.2% +26.2% +54.3%
May 7, 2024 +26.0% +0.1% +49.8% +70.0%
March 12, 2024 −0.4% +0.9% +1.7% −9.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Bioventus Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Bioventus Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Bioventus Inc.
$500M $520M $540M $560M $580M $600M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $512.3M Revenue (TTM), FY24 Q1: $522.7M Revenue (TTM), FY24 Q2: $536.9M Revenue (TTM), FY24 Q3: $555.1M Revenue (TTM), FY24 Q4: $573.3M Revenue (TTM), FY25 Q1: $567.7M Revenue (TTM), FY25 Q2: $564.1M Revenue (TTM), FY25 Q3: $563.8M Revenue (TTM), FY25 Q4: $568.1M Revenue (TTM), FY26 Q1: $576.3M Revenue (TTM), FY26 Q2: $581.8M Revenue (TTM), FY26 Q3: $585.6M $585.6M

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $512.3M
FY24 Q1 $522.7M
FY24 Q2 $536.9M
FY24 Q3 $555.1M
FY24 Q4 $573.3M
FY25 Q1 $567.7M
FY25 Q2 $564.1M
FY25 Q3 $563.8M
FY25 Q4 $568.1M
FY26 Q1 $576.3M
FY26 Q2 $581.8M
FY26 Q3 $585.6M
Revenue growth, TTM YoY Bioventus Inc.
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 0.0% Revenue growth, TTM YoY, FY24 Q1: 1.7% Revenue growth, TTM YoY, FY24 Q2: 5.1% Revenue growth, TTM YoY, FY24 Q3: 10.4% Revenue growth, TTM YoY, FY24 Q4: 11.9% Revenue growth, TTM YoY, FY25 Q1: 8.6% Revenue growth, TTM YoY, FY25 Q2: 5.1% Revenue growth, TTM YoY, FY25 Q3: 1.6% Revenue growth, TTM YoY, FY25 Q4: -0.9% Revenue growth, TTM YoY, FY26 Q1: 1.5% Revenue growth, TTM YoY, FY26 Q2: 3.1% Revenue growth, TTM YoY, FY26 Q3: 3.9% 3.9%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 0.0%
FY24 Q1 1.7%
FY24 Q2 5.1%
FY24 Q3 10.4%
FY24 Q4 11.9%
FY25 Q1 8.6%
FY25 Q2 5.1%
FY25 Q3 1.6%
FY25 Q4 -0.9%
FY26 Q1 1.5%
FY26 Q2 3.1%
FY26 Q3 3.9%
Operating margin (TTM) Bioventus Inc.
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -16.0% Operating margin (TTM), FY24 Q1: 2.9% Operating margin (TTM), FY24 Q2: -4.3% Operating margin (TTM), FY24 Q3: -3.9% Operating margin (TTM), FY24 Q4: -2.7% Operating margin (TTM), FY25 Q1: -2.7% Operating margin (TTM), FY25 Q2: 6.1% Operating margin (TTM), FY25 Q3: 7.5% Operating margin (TTM), FY25 Q4: 9.5% Operating margin (TTM), FY26 Q1: 10.0% Operating margin (TTM), FY26 Q2: 10.0% Operating margin (TTM), FY26 Q3: 9.7% 9.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -16.0%
FY24 Q1 2.9%
FY24 Q2 -4.3%
FY24 Q3 -3.9%
FY24 Q4 -2.7%
FY25 Q1 -2.7%
FY25 Q2 6.1%
FY25 Q3 7.5%
FY25 Q4 9.5%
FY26 Q1 10.0%
FY26 Q2 10.0%
FY26 Q3 9.7%
FCF margin (TTM) Bioventus Inc.
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 1.6% FCF margin (TTM), FY24 Q1: 0.5% FCF margin (TTM), FY24 Q2: 1.6% FCF margin (TTM), FY24 Q3: 5.2% FCF margin (TTM), FY24 Q4: 6.6% FCF margin (TTM), FY25 Q1: 4.2% FCF margin (TTM), FY25 Q2: 6.0% FCF margin (TTM), FY25 Q3: 9.5% FCF margin (TTM), FY25 Q4: 12.7% FCF margin (TTM), FY26 Q1: 17.5% FCF margin (TTM), FY26 Q2: 16.2% FCF margin (TTM), FY26 Q3: 14.5% 14.5%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 1.6%
FY24 Q1 0.5%
FY24 Q2 1.6%
FY24 Q3 5.2%
FY24 Q4 6.6%
FY25 Q1 4.2%
FY25 Q2 6.0%
FY25 Q3 9.5%
FY25 Q4 12.7%
FY26 Q1 17.5%
FY26 Q2 16.2%
FY26 Q3 14.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Bioventus took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $568M
  2. Cost of revenue $180M · 31.7%
  3. Gross profit $388M · 68.3%
  4. Research and development $12.1M · 2.1%
  5. Selling, general and admin $314M · 55.3%
  6. Other operating costs $8M · 1.4%
  7. Operating income $54M · 9.5%
  8. Interest and other $31.2M · 5.5%
  9. Net income $22.7M · 4.0%

Shares of revenue. Source: Bioventus's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 340 321 431 512 512 573 568 586
Gross profit 249 234 303 331 328 388 388 402
EBITDA 62 50 47 −112 −24 34 101 82
Operating income 31 21 12 −167 −82 −15 54 57
Net income 7 16 19 −159 −156 −36 23 57
Diluted EPS — — −$0.15 −$2.59 −$2.49 −$0.56 $0.33 $0.80
Growth (year on year)
Revenue — −5.6% +34.2% +18.8% +0.0% +11.9% −0.9% +3.9%
EBITDA — −18.9% −5.9% −338.3% — — +193.9% +17.9%
Operating income — −31.9% −43.2% <−999% — — — +34.5%
Net income — +139.5% +18.1% −919.1% — — — —
Margins
Gross margin 73.3% 72.7% 70.3% 64.6% 64.1% 67.7% 68.3% 68.7%
EBITDA margin 18.1% 15.5% 10.9% −21.8% −4.8% 6.0% 17.8% 14.0%
Operating margin 9.2% 6.6% 2.8% −32.7% −16.0% −2.7% 9.5% 9.7%
Net margin 2.0% 5.1% 4.5% −31.0% −30.5% −6.3% 4.0% 9.8%
Free-cash-flow margin 11.3% 17.2% 2.2% −2.9% 1.6% 6.6% 12.7% 14.5%
Cash flow
Cash from operations 41 72 23 −14 15 39 75 87
Capital spending 2 17 14 1 7 1 3 2
Free cash flow 38 55 9 −15 8 38 72 85
Stock-based pay 0 0 20 18 3 13 13 16
Free cash flow after stock pay 38 55 −10 −33 5 25 59 69
Balance sheet
Cash 65 87 44 30 37 42 51 31
Total debt 0 190 358 418 395 336 294 230
Net debt (negative = net cash) −65 103 314 388 358 294 243 199
Diluted shares — — 45m 61m 63m 65m 69m 71m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · September 26, 2026
What it owns · $673m
Short-term assets $266mLonger-term assets $408m
What it owes, and who funded it · $622m
Short-term liabilities $158mLonger-term liabilities $224mShareholders' equity $240m
  • Short-term assets cover short-term liabilities $266m of assets due within a year against $158m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $266m short-term assets against $224m of longer-dated liabilities.
  • More cash than debt $31m of cash against $230m of debt.
  • Debt below 40% of shareholders' equity Debt is 96% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 77% to 96% over five years.
  • A year's operating cash flow covers at least 20% of debt $87m of operating cash flow against $230m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Bioventus Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+6.2%
year over year
R&D spending
2.1%
of revenue
Sales & admin spending
55.8%
of revenue
Days sales outstanding
86 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated BVS ATRC TMDX GKOS NVCR AORT Median
Revenue, last 12 months $586m $570m $668m $690m $725m $471m $99m
Revenue growth, last 12 months 3.9% 13.9% 25.8% 46.9% 12.9% 16.4% 9.2%
Revenue growth, 3-year average 5.2% 15.9% 64.2% 31.5% 12.9% 12.8% 13.5%
Revenue growth, latest quarter 2.7% 12.8% 20.7% 58.0% 15.7% 11.3% 10.2%
Gross margin 68.7% 76.3% 58.7% 64.8% 77.0% 64.4% 61.2%
Operating margin 9.7% 2.3% 12.2% −25.5% −17.2% 4.4% −8.5%
Operating margin, 3-year average 4.4% −4.2% 8.8% −27.0% −24.1% 5.9% −17.9%
Net margin 9.8% 1.9% 22.7% −24.6% −16.8% −0.7% −12.0%
Cash from operations / revenue 14.9% 11.4% 21.8% 6.9% −0.1% 8.8% −1.9%
Free-cash-flow margin 14.5% 9.3% 11.8% 5.2% −3.4% −1.9% −3.9%
Free-cash-flow margin, 3-year average 9.7% 3.3% −13.0% −7.7% −9.0% 0.7% −7.0%
Stock pay / revenue 2.8% 8.3% 5.5% 12.0% 16.2% 5.7% 6.1%
Change in share count 6.2% 2.4% 4.8% 3.8% 3.9% 21.0% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 3.9% 9.1% 88 of 129
Change in growth rate Growth +0.7pp -0.6pp 48 of 129
Gross margin Profitability 68.7% 61.9% 44 of 123
Operating margin Profitability 9.7% -8.3% 29 of 132
Net margin Profitability 9.8% -12.0% 28 of 133
Free-cash-flow margin Cash generation 14.5% -3.4% 23 of 128
Stock pay as % of revenue Cash generation 2.8% 6.1% 37 of 123
Long-term debt as % of assets Balance sheet 31.3% 24.2% 57 of 87
Change in share count Balance sheet 6.2% 3.3% 78 of 115
Days sales outstanding Balance sheet 86 days 57 days 100 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
United States $502M 88.4% ▼ 0.9%
International $66M 11.6% ▼ 0.7%
Geography
Region Revenue Share YoY
United States $502M 88.4% ▼ 0.9%
Outside the US $66M 11.6% ▼ 0.7%

From Bioventus Inc.'s 10-K filed March 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$566M
Institutions reporting
155
Shares held vs prior quarter
▲ 17.6%
Positions opened / closed
24 / 23

Top buyers and sellers, Q2 2026: 100 institutions bought and 59 sold ; the biggest buyer was Nantahala Capital Management, LLC (+5.9M shares) and the biggest seller Essex Investment Management Co LLC (−603K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Essex Woodlands Management, Inc. $123M 13.0M 21.7% 0.0%
Nantahala Capital Management, LLC $113M 12.0M 20.0% ▲ 96.0%
Juniper Investment Company, LLC $65.5M 6.9M 11.6% 0.0%
Blackrock, Inc. $32.4M 3.4M 5.7% ▲ 9.6%
Royce & Associates LP $17.3M 1.8M 3.1% ▲ 18.9%
Vanguard Capital Management LLC $16.5M 1.8M 2.9% ▲ 2.2%
Geode Capital Management, LLC $12.9M 1.4M 2.3% ▲ 16.9%
American Century Companies Inc $12.8M 1.4M 2.3% ▲ 118.4%
Dimensional Fund Advisors LP $10.7M 1.1M 1.9% ▲ 29.2%
State Street Corp $10.4M 1.1M 1.8% ▲ 11.8%
Vanguard Portfolio Management LLC $9.8M 1.0M 1.7% ▲ 7.2%
Hillsdale Investment Management Inc. $8.6M 908K 1.5% ▲ 35.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Bioventus Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $312,521 3 trades by 2 insiders · 0% under pre-set plans
Net ▼ $312,521 net selling
Insider Date Trade Shares Price Value
Mcmurry-Heath Michelle Director March 11, 2026 Sell 12,000 $8.79 $105,480
Nohra Guy P Director December 4, 2025 Sell 10,000 $7.57 $75,700
Mcmurry-Heath Michelle Director November 7, 2025 Sell 17,701 $7.42 $131,341

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 1, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 5, 2026
  • May 6, 2026
  • March 5, 2026
  • November 4, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Bioventus Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Bioventus Inc. in brief

What does Bioventus Inc. do?
Bioventus Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Bioventus Inc.'s stock ticker?
Bioventus Inc. trades under the ticker BVS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Bioventus Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Bioventus Inc. reported revenue of $586M, 3.9% higher than a year earlier, according to its SEC filings.
What is Bioventus Inc.'s free cash flow?
Bioventus Inc.'s free-cash-flow margin is 14.5% of revenue over the trailing twelve months, ranking 23 of the 128 health care equipment companies we cover.
What is Bioventus Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Bioventus Inc.'s free cash flow after stock-based pay gives ~$8.6 per share in the base case, and ~$5.6–$13 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Bioventus Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Essex Woodlands Management, Inc., Nantahala Capital Management, LLC and Juniper Investment Company, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Bioventus Inc.'s market cap?
On November 2, 2026, Bioventus Inc.'s market capitalisation was about $939M, with a price-to-earnings ratio of 16.4 and net debt of $199M. Market figures come from third-party market data and may be delayed.
How much debt does Bioventus Inc. have?
Bioventus Inc.'s debt-to-equity ratio is 95.6%, from its latest balance sheet (77.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Bioventus Inc.'s competitors?
In our Health Care Equipment peer group, the companies closest to Bioventus Inc. are Atricure, Inc., Transmedics Group, Inc., Glaukos Corp, Novocure Ltd and Artivion, Inc. The side-by-side comparison below sets their revenue, margins and growth against Bioventus Inc.'s.
Are insiders buying or selling Bioventus Inc. stock?
Over the last 12 months, Bioventus Inc.'s directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Bioventus Inc.'s next earnings date?
Around February 1, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Bioventus Inc. announces its own schedule.