Bioventus Inc. (BVS) Goldman Sachs 47th Annual Global Healthcare Conference 2026 June 8, 2026 4:00 PM EDT
Company Participants
Mark Singleton – Senior VP & CFO
David Crawford – Vice President of Investor Relations & Treasurer
Conference Call Participants
Jennifer Reena Rabinowitz – Goldman Sachs Group, Inc., Research Division
Presentation
Jennifer Reena Rabinowitz
Goldman Sachs Group, Inc., Research Division
Good afternoon, everybody. My name is Jenny Rabinowitz. I cover U.S. MedTech and Healthcare here at Goldman. And today, I’m thrilled to be joined by Bioventus. To my left, we have Mark Singleton, CFO; and Dave Crawford, VP, Treasurer and IR. Starting off, it would be great to start with the company introduction. The markets you serve, your 3 key segments. What of the key products in all of them?
Question-and-Answer Session
Mark Singleton
Senior VP & CFO
Great. Thank you for having us. Appreciate it. Bioventus is a $568 million revenue company as of 2025. Our guidance for 2026 is $605 million. We participate in markets of $6 billion plus. So a lot of opportunity. We’ve had a lot of success over the last few years, accelerating our revenue, expanding our margins and generating significant amount of cash flow. We’ve actually taken our margins from early 2022 to 13% EBITDA to greater than 20% in 2025. And so we’ve increased them by 700 basis points. At the same time, taken our revenue growth from low single digits to mid- to high single digits consistently from a performance perspective.
Overall, we’ve also taken our cash flow from that — in the last few years to — from a negative cash flow to positive free cash flow. And over the last 12 months, we produced $100 million of free cash flow. And we actually doubled our cash flow from 2025 to 2024. So we think this is a really compelling investment from