Here are 11 takeaways from a May 3 news release of the report:
- Revenues of $931 million across its vision care, surgical and ophthalmic pharmaceutical segments.
- General accepted accounting principles net loss attributable to Bausch + Lomb Corp. of $90 million.
- Adjusted earnings before interest, taxes, depreciation and amortization (non-GAAP) of $141 million.
- Revenues grew 5 percent and 8 percent on a constant currency basis compared to the first quarter of 2022, driven by growth across all segments.
- Foreign exchange negatively impacted revenues and adjusted EBITDA (non-GAAP) by $31 million and $14 million, respectively.
- Acquired AcuFocus, whose IC-8 Apthera intraocular lens was approved by the FDA as the first and only small aperture non-toric extended depth of focus IOL for certain cataract patients who have as much as 1.5 diopters of corneal astigmatism and wish to address presbyopia at the same time.
- Launched PreserVision AREDS 2 Formula mini-soft gels with OCUSorb in the U.S.
- Introduced the SeeLuma Fully Digital Surgical Visualization Platform in the U.S. and Western Europe in partnership with Heidelberg Engineering.
- Launched the StableVisc cohesive ophthalmic viscosurgical device, as well as the TotalVisc Viscoelastic System, in the U.S.
- Results from the two pivotal Phase 3 trials for NOV032 (perfluorohexyloctane), an investigational treatment with a proposed indication of treating the signs and symptoms of dry eye disease associated with Meibomian gland dysfunction, were published in Ophthalmology and the American Journal of Ophthalmology, respectively.
- Acquired the rights to market Lumify in 18 additional countries.
Financial outlook for remainder of 2023:
- Full-year revenue range of $3.90 billion to $3.95 billion, reflecting anticipated growth of 5 percent to 6 percent on a constant currency basis.
- Full year adjusted EBITDA (non-GAAP) range of $700 million to $750 million.
- $760 million at the midpoint of the full-year adjusted EBITDA (non-GAAP) guidance range, adjusted for currency headwinds.
- Foreign exchange revenue and adjusted EBITDA (non-GAAP) headwinds are expected to be approximately $50 million and $35 million for the full year, respectively.
Read the full report here.
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