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Bioventus (BVS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Bioventus (BVS) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $142M · 4¢ of every $1 of revenue kept as net profit · operating margin 6.8%
Bioventus made $142M in Q3 2026 (+3% Y/Y). Operating margin 6.8%, net earnings $6.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $142.4M in Q3 2026, up 3% year over year and down 7% from the previous quarter.
Gross margin was 68.2%, up 0.2 points from Q3 2025. Operating profit was $9.7M, a 6.8% margin (down 1.3 points year over year). Operating profit fell $1.6M even though revenue rose $3.8M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 3%. The fastest-growing cost line was Research & development (+18%). Net earnings were $6.0M, up 90% year over year. The effective tax rate was -11.4%.
Operating cash flow was $20.7M (down 31% year over year), 301% of net income including minority interests. Non-cash charges added back $10.3M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items used $1.3M. Capital expenditures of $334K left free cash flow of $20.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $142M | +3% | 6.8% | $6.0M | $20.7M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $153M | +4% | 12.5% | $33.4M | $19.9M |
| Q1 2026 | 10-Q | May 6, 2026 | $132M | +7% | 6.4% | $3.1M | $8.9M |
| Q4 2025 | 10-K | Mar 5, 2026 | $158M | +3% | 12.3% | $14.8M | $38.0M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $139M | -0.2% | 8.1% | $3.2M | $30.1M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $148M | -2% | 12.4% | $7.5M | $25.9M |
| Q1 2025 | 10-Q | May 6, 2025 | $124M | -4% | 3.9% | −$3.3M | −$19.3M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Bioventus
Unless the context requires otherwise, in this Annual Report on Form 10-K (“Annual Report”) the terms “we,” “us,” “our,” the “Company,” “Bioventus,” “Bioventus Inc.” and similar references refer to the combined operations of Bioventus Inc. and its consolidated subsidiaries and affiliates, including Bioventus LLC (“BV LLC”). We are a global medical device company focused on helping patients recover and live life to the fullest by relieving pain and addressing musculoskeletal challenges through a diverse portfolio of high-quality, innovative, and clinically-proven solutions. We manage our business through two reporting segments, U.S. and International, which accounted for 88% and 12%, respectively, of our total net sales during the fiscal year ended December 31, 2025.
In its own words, from its 10-K, filed Mar 5, 2026.
Bioventus against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +5%. Operating margin: 6.8% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BVS Bioventus | Q3 2026 | $142M | +3% | 6.8% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Bioventus 10-Q on SEC EDGAR · CIK 1665988 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns BVS and who is buying
More on BVS
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results