Bioventus Inc
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
BVS$11.18+1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive (Loss) Income
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Net sales | $512,345 | $512,117 | $430,898 |
| Cost of sales (including depreciation and amortization of $48,503, $45,622 and $26,471 respectively) | 184,152 | 181,037 | 128,192 |
| Gross profit | 328,193 | 331,080 | 302,706 |
| Selling, general and administrative expense | 303,879 | 332,134 | 254,253 |
| Research and development expense | 13,446 | 23,854 | 19,039 |
| Restructuring costs | 840 | 6,779 | 2,487 |
| Change in fair value of contingent consideration | 719 | 1,102 | 829 |
| Depreciation and amortization | 8,842 | 9,748 | 8,363 |
| Impairment of assets | 78,615 | — | — |
| Impairment of goodwill | — | 124,697 | — |
| Loss on disposals | 3,577 | — | — |
| Impairment of variable interest entity assets | — | — | 5,674 |
| Operating (loss) income | (81,725) | (167,234) | 12,061 |
| Interest expense, net | 40,676 | 12,021 | 1,112 |
| Other (income) expense | (1,290) | 9,770 | 1,461 |
| Other expense | 39,386 | 21,791 | 2,573 |
| (Loss) income before income taxes | (121,111) | (189,025) | 9,488 |
| Income tax expense (benefit), net | 85 | (44,374) | (1,966) |
| Net (loss) income from continuing operations | (121,196) | (144,651) | 11,454 |
| Loss from discontinued operations, net of tax | (74,429) | (68,740) | (1,868) |
| Net (loss) income | (195,625) | (213,391) | 9,586 |
| Loss attributable to noncontrolling interest - continuing operations | 24,458 | 40,732 | 9,789 |
| Loss attributable to noncontrolling interest - discontinued operations | 14,937 | 13,955 | — |
| Net (loss) income attributable to Bioventus Inc. | $(156,230) | $(158,704) | $19,375 |
| Net (loss) income | $(195,625) | $(213,391) | $9,586 |
| Other comprehensive (loss) income, net of tax | |||
| Change in prior service cost and unrecognized (loss) gain for defined benefit plan adjustment | (8) | 133 | 60 |
| Change in foreign currency translation adjustments | 1,140 | (501) | (1,318) |
| Comprehensive (loss) income | (194,493) | (213,759) | 8,328 |
| Comprehensive loss attributable to noncontrolling interest - continuing operations | 24,230 | 40,811 | 9,789 |
| Comprehensive loss attributable to noncontrolling interest - discontinued operations | 14,937 | 13,955 | — |
| Comprehensive (loss) income attributable to Bioventus Inc. | $(155,326) | $(158,993) | $18,117 |
| Loss per share of Class A common stock from(1): | |||
| Continuing operations, basic and diluted | $(1.54) | $(1.70) | $(0.11) |
| Discontinued operations, basic and diluted | (0.95) | (0.89) | (0.04) |
| Loss per share of Class A common stock, basic and diluted | $(2.49) | $(2.59) | $(0.15) |
| Weighted-average shares of Class A common stock outstanding, basic and diluted(1): | 62,647,554 | 61,389,107 | 45,472,483 |
| (1) Per share information for the year ended December 31, 2021 represents loss per share of Class A common stock and weighted-average shares of Class A common stock outstanding from February 16, 2021 through December 31, 2021, the period following Bioventus Inc.'s initial public offering and related transactions described in Note 8. Stockholders’ equity and Note 9. Earnings per share within the Notes to the Consolidated Financial Statements. | |||
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