Bausch+Lomb Results Presentation Deck
Raising Full-Year 2023 Revenue and
Adjusted EBITDA (non-GAAP)¹ Guidance 3
Total Revenue
Adj. EBITDA¹
Key Assumptions
Interest Expense
R&D
Adj. Tax Rate ¹
Avg. Fully Diluted Share Count
CapEx
Depreciation and
Stock Based Comp
BAUSCH+ LOMB
Prior Guidance
(May 2023)
$3.90B $3.95B
$700M $750M
- $215M
-8% of revenue
-6%
-352M
-$200M
-$220M4
Prior Guidance
(Aug. 2023)
$3.95B $4.00B
$700M $750M
-$225M
-8% of revenue
-6%
-352M
- $200M
-$220M4
Current Guidance
(Nov. 2023)
$4.035B $4.085B
$710M $760M
-$270M²
-8% of revenue
- 6%
-352M
-$175M
-$220M4
Raising FY23 Revenue Guidance
-9.5-10.5% Constant Currency Growth¹
-$85M
$80-90M
-$55M
-$30M
- $20M
FX Headwinds
Raising FY23 Adj. EBITDA¹ Guidance
Xiidra 4Q23 Revenue
~60.5%
FX Headwinds
Xiidra 4Q23 Adj. EBITDA¹
Q3 YTD Lynchburg Disruptions
Adj. Gross Margin¹
FY23 Adj. Gross Margin¹
1. This is a non-GAAP measure or ratio. See Slide 1 and Appendix for further information non-GAAP measures or ratios. See slides 8 and 9 and 27 and 28 for disclosure of historic non-GAAP measures and ratios and their historic
comparable GAAP measures and ratios.
2. Current Guidance - Interest Expense includes interest on the outstanding $2.969B of Term Loans, $1.400B of 8.375% 2028 Senior Secured Notes, $175M of revolving credit facility (as of 11/1/2023) and amortization and write-down of
deferred financing costs. It excludes an upfront financing commitment cost of $16 million directly related to the Xiidra acquisition.
3. The guidance in this presentation is only effective as of the date given, Nov. 1, 2023, and will not be updated or affirmed unless and until the Company publicly announces updated or affirmed guidance. Distribution or reference of this deck
following Nov. 1, 2023 does not constitute the Company re-affirming guidance. See Slide 1 for further information on forward-looking statements.
4. Does not include the potential expense acceleration of certain grants upon final separation.
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