Bausch+Lomb Results Presentation Deck
Total Bausch + Lomb P&L¹ (Non-GAAP)² - FY22
Constant
Currency ³
6%
6%
Bausch + Lomb
Vision Care Revenue
Surgical Revenue
Ophthalmic Pharmaceuticals
Revenue
Total Revenue
Adj. Gross Profit²
Adj. Gross Margin ²
R&D
R&D percent of Revenues
Adj. SG&A²
Adj. SG&A percent of Revenues²
Adj. EBITA 2,6
Depreciation
Stock Based Compensation
Adj. EBITDA 2,3,6
Adj. EBITDA Margin 2.6
Adj. Net Income Attributable to
Bausch+Lomb 3,6
Adj EPS Attributable to Bausch
+ Lomb 2,4,6
BAUSCH + LOMB
FY22
$2,373M
$718M
$677M
$3,768M
$2,249M
59.7%
$307M
8.1%
$1,421M
37.7%
$520M
$135M
$62M
$720M
19.1%
$375M
$1.07
FY21
$2,343M
$718M
$704M
$3,765M
$2,298M
61.0%
$271M
7.2%
$1,377M
36.6%
$651 M
$123M
$62M
$821 M
21.8%
$454M
$1.30
Reported Change
1%
0%
(4%)
0%
(2%)
(130 bps)
(13%)
(3%)
(20%)
10%
0%
(12%)
(17%)
0%
5%
2%
(16%)
(8%)
(17%)
15%
0%
(10%)
(17%)
1. Products with sales outside the United States impacted by FIX changes
2 This is a non-GAAP measure or ratio. See Slide 2 and Appendix for further information on non-GAAP measures and ratios
Includes transactional FX and NCI.
4021 presented on an adjusted basis after giving effect to the IPO.
Organic revenue growth/change, a non-GAAP ratio, is defined as a change on a period-over-period basis in revenues on a constant currency basis (if applicable) excluding the impact of acquisitions, divestitures and discontinuations.
Organic
Change 3,5
6%
8%
0%
5%
+5% organic revenue growth 1,2,5
+$36M investment in R&D
during FY22 to expedite portfolio
advancement
Continued to maintain a
disciplined approach to cost
management as inflation pressure
weighed on gross margin
2021 results were not fully
burdened by all of the stand-up
costs associated with operation
as an independent company
6. Prior to 2022, in calculating Adjusted EBITA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS, the Company had excluded expenses associated with acquired in-process research and development costs ("IPR&D) Commercing in 2022, the Company no longer excludes acquired IPR&D in its calculation of Adjusted EBITA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS. The Company is making this
change for 2022 periods and onwards and has not made this change for periods prior to 2022. The Company believes these costs are not material for the periods presented. In particular, there was no acquired IPR&D in the fourth quarter of 2022 and there was less then $1 million in aggregate acquired IPR&D for the twelve months ended December 31, 2022. For 2021, there was $4 million in the fourth quarter of 2021 and there
was $5 million in aggregate acquired IPR&D for the year ended December 31, 2021. See the Appendix for further information on this change..
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