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bioventus® Bioventus Reports Third Quarter Results ; Updates Full - Year 2021 Financial Guidance November 9 , 2021 DURHAM , N.C. , Nov. 09 , 2021 ( GLOBE NEWSWIRE ) Bioventus Inc. ( Nasdaq : BVS ) ( " Bioventus " or " the Company " ) , a global leader in innovations for active healing , today reported financial results for three and nine months ended October 2 , 2021 . Q3 Financial Summary & Recent Highlights : • Net Sales of $ 108.9 million , up $ 23.0 million , or 26.8 % , year - over - year , comprising : o Net Sales from legacy Bioventus Inc. of $ 98.1 million , representing organic revenue growth * of 14.2 % year - over - year , and o Net Sales from the acquisition of Bioness Inc. of $ 10.8 million . • Net Loss of ( $ 2.3 ) million , compared to Net Income of $ 8.0 million in prior year . ● Adjusted EBITDA * of $ 21.3 million , compared to $ 23.1 million in prior year . ● Updates full - year 2021 Net Sales guidance to $ 425- $ 430 million , up from $ 405- $ 415 million , driven by strong Q3 results , Q4 expectations , and the inclusion of the Company's recent acquisition of Misonix Inc. " 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 . " Mr. Reali continued , " We are on - track to complete the integration of Bioness in the first quarter of 2022 and deliver on our cost synergy targets over the course of the next year . Finally , we are excited to have closed our acquisition of Misonix and to welcome the Misonix employees to Bioventus . This is a significant milestone that will enable multiple growth levers within the combined business . Our new Bioventus organization will allow us to go deeper with our customers leveraging our infrastructure and driving significant shareholder value over the near and medium term . " Third Quarter 2021 Financial Results : -- The following table represents net sales by geographic region , and by vertical , for the three months ended October 2 , 2021 and September 26 , 2020 , respectively : ( $ thousands , except for percentage ) By Geographic Region : U.S. International Net Sales By Vertical : Pain Treatments and Joint Preservation Restorative Therapies Bone Graft Substitutes Net Sales $ $ $ $ Three Months Ended October 2 , 2021 99,162 9,728 108,890 60,635 30,475 17,780 108,890 September 26 , 2020 $ $ $ $ 78,886 7,022 85,908 48,781 20,000 17,127 85,908 $ $ $ $ $ 20,276 2,706 22,982 11,854 10,475 653 22,982 Change % 25.7 % 38.5 % 26.8 % 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 . 24.3 % 52.4 % 3.8 % 26.8 % Gross profit was $ 79.1 million , or 72.6 % of net sales , compared to $ 62.5 million , or 72.7 % of net sales , for the third quarter of 2020 , an increase of $ 16.6 million , or 26.6 % , year - over - year . Non - GAAP gross profit * was $ 85.7 million , or 78.7 % of net sales , compared to $ 67.9 million , or 79.1 % of net sales , for the third quarter of 2020 , an increase of $ 17.8 million , or 26.1 % , year - over - year . Non - GAAP operating income * was $ 15.1 million , compared to $ 14.7 million for the third quarter of 2020 , an increase of $ 0.3 million , or 2.3 % , year - over - year . Non - GAAP operating margin * was 13.8 % of net sales , compared to 17.1 % of net sales for the third quarter of 2020 . Net Loss was ( $ 2.3 ) million compared to net income of $ 8.0 million for the third quarter of 2020 , a change of ( $ 10.2 ) million or ( 128.5 % ) , year - over - year . Operating loss was ( $ 1.0 ) million , compared to operating income of $ 6.9 million for the third quarter of 2020 , a decrease of ( $ 8.0 ) million , or ( 115.1 % ) , year - over - year . Operating margin was ( 1.0 % ) of net sales , compared to 8.1 % of net sales for the third quarter of 2020 .