Bausch Health Companies Inc. Q3 2025 Earnings Recap

Bausch Health reported continued robust performance with 10 consecutive quarters of revenue and adjusted EBITDA growth, driven by strong gains in its Solta and Salix business segments.

Key Takeaways

• Q3 revenue increased 7% year-over-year to $2.681 billion, with organic growth of 5%.
• Adjusted EBITDA reached $986 million, reflecting an 8% year-over-year rise, and 18% growth when excluding an $81 million R&D charge.
• The Solta division saw outstanding growth of 25%, while Salix reported 12% revenue growth, fueled by strong performance in flagship products like Xifaxan.
• The company reduced its debt by approximately $600 million, reinforcing its financial stability and allowing for raised full-year guidance across revenue, adjusted EBITDA, and cash flow.
• Operational cash flow was steady at $508 million, demonstrating solid cash management despite working capital timing impacts.