Bioventus Shares Positive Q3 2021 Results

Bioventus Inc. has reported its financial results for the three months ended October 2, 2021.
 
The company reported net sales of $108.9 million compared to $85.9 million for the third quarter of 2020, an increase of $23.0 million, or 26.8%, year-over-year, primarily due to acquisitions, strong commercial execution and ongoing recovery from the COVID-19 pandemic. International net sales for the third quarter of 2021 increased 38.5% year-over-year, or 34.7% on a constant currency basis.
 
“During the third quarter, we continued building momentum across our diversified portfolio as the Bioventus team demonstrated strong execution and resiliency, driving double-digit organic growth despite some pandemic related headwinds in our Bone Graft Substitutes business,” stated Ken Reali, Bioventus’ chief executive officer. “The strong performance of our organization has enabled us to again raise our full-year revenue guidance.”
 
For the twelve months ending December 31, 2021, the company now expects net sales of $425 million to $430 million, up approximately 32% to 34% year-over-year.
 
The company’s guidance reflects its current expectations regarding the impact of COVID-19 on its business.