Bausch Health Reports 5% Revenue Increase to $2.259 Billion in Q1 2025

Bausch Health Companies Inc. reported a revenue increase of 5% for the first quarter of 2025, reaching $2.259 billion compared to $2.153 billion in the same period last year. The growth was primarily driven by higher volumes and improved net pricing across its Salix, Bausch + Lomb, and Solta Medical segments. Operating income for the quarter was $276 million, slightly down from $281 million in the prior year, while the net loss attributable to Bausch Health decreased to $58 million from $64 million, reflecting a favorable change in loss before income taxes.

The company experienced a notable increase in selling, general, and administrative expenses, which rose by $73 million to $867 million, largely due to higher marketing and promotional costs associated with its MIEBO® product. Additionally, Bausch Health incurred $15 million in costs related to the voluntary recall of certain enVista intraocular lenses, impacting the overall profitability of the Bausch + Lomb segment, which saw a profit decline of 26% to $180 million.

In terms of strategic developments, Bausch + Lomb made significant acquisitions, including Whitecap Biosciences, which is developing therapies for glaucoma and geographic atrophy, and Elios Vision, known for its innovative glaucoma surgery procedure. These acquisitions are expected to enhance Bausch + Lomb's clinical pipeline and market presence. The company also reported a successful refinancing transaction in April 2025, which extended the maturities of approximately $6.87 billion in debt, providing more flexibility in managing its capital structure.

Operationally, Bausch Health's cash and cash equivalents stood at $1.134 billion as of March 31, 2025, down from $1.181 billion at the end of 2024. The company generated $211 million in net cash from operating activities, consistent with the previous year. However, cash used in investing activities increased to $130 million, primarily due to acquisitions and capital expenditures. The company anticipates maintaining compliance with its financial covenants and meeting its debt service obligations over the next twelve months.

Looking ahead, Bausch Health continues to focus on its core businesses and the planned separation of its eye health business, Bausch + Lomb, which is expected to unlock additional value. The company remains committed to improving patient access to its products and managing its capital structure effectively to support long-term growth. However, it acknowledges potential risks related to market conditions, regulatory changes, and ongoing litigation that could impact its financial performance.