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    Biote Corp (BTMD)

    Updated Mar 14, 2025, 8:36 PM UTC
    Income Statement - MetricQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Product Revenue (USD, thousands)44,831.0044,935.00182,57346,03548,111.0049,806.0048,288.00192,240
    Service Revenue (USD, thousands)726.00768.002,7877691,058.001,578.001,546.004,951
    Total Revenue (USD, thousands)45,557.0045,703.00185,36046,80449,169.0051,384.0049,834.00197,191
    Cost of Products (USD, thousands)13,070.0013,157.0054,24612,80214,426.0014,431.0013,428.0055,087
    Cost of Services (USD, thousands)1,097.00848.003,631565861.00741.00876.003,043
    Cost of Revenue (USD, thousands)14,167.0014,005.0057,87713,36715,287.0015,172.0014,304.0058,130
    Selling, General and Administrative Expenses (USD, thousands)23,791.0026,190.0098,82623,01027,649.0024,028.0032,763.00107,450
    Income (Loss) from Operations (USD, thousands)7,599.005,508.0028,65710,4276,233.0012,184.002,767.0031,611
    Interest Expense, Net (USD, thousands)152.00(1,542.00)(6,363)(1,660)(2,577.00)(3,542.00)(3,222.00)(11,001)
    Loss from Change in Fair Value of Warrant Liability (USD, thousands)0.000.00(13,411)-----
    Gain (Loss) from Change in Fair Value of Earnout Liabilities (USD, thousands)17,450.005,370.00(8,990)(12,089)(13,949.00)7,213.00(780.00)(19,605)
    Other Income (Expense) (USD, thousands)(102.00)(2.00)(16)(2)(2.00)0.0015.0011
    Total Other Income (Expense), Net (USD, thousands)15,917.003,826.00(28,780)(13,751)(16,528.00)3,671.00(3,987.00)(30,595)
    Income (Loss) Before Provision for Income Taxes (USD, thousands)23,516.009,334.00(123)(3,324)(10,295.00)15,855.00(1,220.00)1,016
    Income Tax Expense (USD, thousands)3,874.00(2,744.00)2,6822,486180.003,007.00(4,703.00)970
    Net Income (Loss) (USD, thousands)19,642.0012,078.00(2,805)(5,810)(10,475.00)12,848.003,483.0046
    Net Income (Loss) Attributable to Noncontrolling Interest (USD, thousands)12,112.004,344.00(6,121)(3,740)(4,153.00)5,002.00(220.00)(3,111)
    Net Income (Loss) Attributable to biote Corp. Stockholders (USD, thousands)7,530.007,734.003,316(2,070)(6,322.00)7,846.003,703.003,157
    Foreign Currency Translation Adjustments (USD, thousands)-0.008(1)(1.00)(8.00)(5.00)(15)
    Other Comprehensive Income (Loss) (USD, thousands)-0.008(1)(1.00)(8.00)(5.00)(15)
    Comprehensive Income (Loss) (USD, thousands)19,650.0012,078.00(2,797)(5,811)(10,476.00)12,840.003,478.0031
    Balance Sheet - MetricQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Cash and cash equivalents (USD, thousands)65,57589,00289,00278,78726,41938,22539,34239,342
    Accounts receivable, net (USD, thousands)10,1776,8096,8098,0227,7008,4937,6317,631
    Inventory, net (USD, thousands)11,07817,30717,30718,91719,21216,20014,84514,845
    Other current assets (USD, thousands)10,9239,2259,2258,6358,4367,0656,3096,309
    Total current assets (USD, thousands)117,753122,343122,343114,36161,76769,98368,12768,127
    Property and equipment, net (USD, thousands)1,3531,2181,2182,1914,5235,8136,9736,973
    Capitalized software, net (USD, thousands)5,4494,9734,9734,9304,8844,9743,8773,877
    Goodwill (USD, thousands)---5,5255,5165,5165,8335,833
    Intangible assets, net (USD, thousands)---6,0155,9675,6665,5005,500
    Operating lease right-of-use assets (USD, thousands)1,9531,8771,8772,2022,1023,3763,2463,246
    Deferred tax asset (USD, thousands)23,24124,88424,88424,8848,1415,92428,74228,742
    Total assets (USD, thousands)149,749155,295155,295160,10892,900101,252122,370122,370
    Accounts payable (USD, thousands)5,6944,1554,1554,1965,7934,3745,8135,813
    Accrued expenses (USD, thousands)10,2798,4978,4979,7296,8998,18511,29311,293
    Term loan, current (USD, thousands)6,2506,2506,2506,2506,2506,2506,2506,250
    Deferred revenue, current (USD, thousands)2,5623,0023,0022,8763,1592,9272,9612,961
    Earnout liabilities, current (USD, thousands)---600100100100100
    Operating lease liabilities, current (USD, thousands)298311311406419482523523
    Share repurchase liabilities, current (USD, thousands)----23,64624,19224,57424,574
    Total current liabilities (USD, thousands)25,08322,21522,21524,05746,26646,51051,51451,514
    Term loan, net of current portion (USD, thousands)107,990106,630106,630105,270103,909102,548101,199101,199
    Deferred revenue, net of current portion (USD, thousands)1,1821,3221,3221,4261,5441,6031,5531,553
    Operating lease liabilities, net of current portion (USD, thousands)1,7611,6801,6801,9171,8073,0262,8902,890
    Share repurchase liabilities, net of current portion (USD, thousands)----43,10143,61044,30044,300
    TRA liability (USD, thousands)18,52818,89418,89418,8944,3564,4244,4794,479
    Earnout liabilities, net of current portion (USD, thousands)46,47041,10041,10053,44423,56816,35517,13517,135
    Total liabilities (USD, thousands)201,014191,841191,841205,008234,551228,076224,570224,570
    Class A common stock (USD, thousands)33333333
    Class V voting stock (USD, thousands)33331111
    Accumulated deficit (USD, thousands)(40,522)(29,391)(29,391)(31,303)(137,723)(124,717)(100,297)(100,297)
    Accumulated other comprehensive loss (USD, thousands)(13)(12)(12)(14)(22)(29)(35)(35)
    Treasury stock, at cost (USD, thousands)---(4,088)(5,600)(5,600)(5,600)(5,600)
    biote Corp.’s stockholders’ deficit (USD, thousands)(40,529)(29,397)(29,397)(35,399)(143,341)(130,342)(105,928)(105,928)
    Noncontrolling interest (USD, thousands)(10,736)(7,149)(7,149)(9,501)1,6903,5183,7283,728
    Total stockholders’ deficit (USD, thousands)(51,265)(36,546)(36,546)(44,900)(141,651)(126,824)(102,200)(102,200)
    Total liabilities and stockholders’ deficit (USD, thousands)149,749155,295155,295160,10892,900101,252122,370122,370
    Cash Flow - MetricQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Net income (loss) (USD, thousands)-------46
    Depreciation and Amortization (USD, thousands)416.001,510.002,994750876.00810.001,138.003,574
    Bad Debt Expense (Recoveries) (USD, thousands)(142.00)39.00663161677.0073.00579.001,490
    Amortization of Debt Issuance Costs (USD, thousands)200.00203.00794202202.00201.00214.00819
    Write-off of Capitalized Software (USD, thousands)--313-----
    (Benefit from) Provision for Obsolete Inventory (USD, thousands)--(26)----503
    Non-cash Lease Expense (USD, thousands)286.0076.0049980100.00505.00130.00815
    Non-cash Interest on Share Repurchase Liability (USD, thousands)-----1,055.00-2,620
    Shares Issued in Settlement of Litigation (USD, thousands)0.000.001,199-----
    Share-Based Compensation Expense (USD, thousands)2,243.001,997.009,0571,7632,841.002,245.001,886.008,735
    Loss from Change in Fair Value of Warrant Liability (USD, thousands)--13,411-----
    Loss from Change in Fair Value of Earnout Liabilities (USD, thousands)(17,450.00)(5,370.00)8,99012,08913,949.00(7,213.00)780.0019,605
    Net Cash Provided by Operating Activities (USD, thousands)160.006,956.0026,8837,3729,947.0015,556.0012,368.0045,243
    Purchases of Property and Equipment (USD, thousands)(451.00)159.00(359)(704)(2,506.00)(1,550.00)(1,670.00)(6,430)
    Purchases of Capitalized Software (USD, thousands)(33.00)(1,163.00)(2,354)(350)(342.00)(424.00)590.00(526)
    Acquisitions, Net of Cash Acquired (USD, thousands)---(11,122)(489.00)0.00(231.00)(11,842)
    Net Cash Used in Investing Activities (USD, thousands)(484.00)18,996.00(2,713)(12,176)(3,337.00)(1,974.00)(1,311.00)(18,798)
    Repurchases of Common Stock (USD, thousands)---(4,088)(1,511.00)0.000.00(5,599)
    Principal Repayments on Term Loan (USD, thousands)(1,562.00)(1,563.00)(6,250)(1,562)(1,563.00)(1,562.00)(1,563.00)(6,250)
    Payments on Repurchase Liability (USD, thousands)-----0.00-(62,162)
    Proceeds from Exercise of Stock Options (USD, thousands)0.000.00420324238.00247.001,581.002,390
    Issuance of Stock Under Purchase Plan (USD, thousands)--144--0.00-282
    Distributions (USD, thousands)(1,000.00)(1,106.00)(8,694)(83)(4,120.00)(453.00)(88.00)(4,744)
    Net Cash Used in Financing Activities (USD, thousands)(2,562.00)(2,525.00)(14,380)(5,409)(58,972.00)(1,768.00)(9,934.00)(76,083)
    Effect of Exchange Rate Changes on Cash and Cash Equivalents (USD, thousands)-0.00(19)(2)(6.00)(8.00)(6.00)(22)
    Net Increase in Cash and Cash Equivalents (USD, thousands)--9,771----(49,660)
    Cash Paid for Interest (USD, thousands)2,441.002,454.009,4762,2301,742.003,353.002,210.009,535
    Cash Paid for Income Taxes (USD, thousands)(1,683.00)1,637.004,42622,205.0081.00305.002,593
    Capital Expenditures and Capitalized Software Included in Accounts Payable (USD, thousands)--208850.00--50
    Shares Issued to Acquire Simpatra (USD, thousands)---1,574267.000.000.001,841
    Deferred Income Taxes (USD, thousands)394721721002,233(2,898)(2,898)
    Accounts Receivable (USD, thousands)(3,834)(505)(505)(1,329)(1,684)(2,550)(2,267)(2,267)
    Inventory (USD, thousands)137(6,098)(6,098)75(192)2,1793,7143,714
    Accounts Payable (USD, thousands)1,582(165)(165)(109)1,4901561,5451,545
    Deferred Revenue (USD, thousands)8531,4331,433(22)379206190190
    Accrued Expenses (USD, thousands)4,0052,2232,223(1,094)(1,262)244,6324,632
    Operating Lease Liabilities (USD, thousands)(329)(397)(397)(73)(170)(667)(762)(762)
    Cash and Cash Equivalents at Beginning of Period (USD, thousands)79,23179,23179,23189,00289,00289,00289,00289,002
    Cash and Cash Equivalents at End of Period (USD, thousands)65,57589,00289,00278,78726,41938,22539,34239,342
    Revenue by Segment - in Millions of USDQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Pellet procedures35.4234.86140.99137.3938.4237.9336.59150.33
    - Dietary supplements8.489.1338.0907.398.2410.3210.0736.02
    - Disposable trocars0.890.883.3201.031.111.081.134.35
    - Shipping fees0.050.050.1720.060.340.480.671.55
    Product revenue44.8344.94182.57346.0448.1149.8148.28192.24
    Training0.320.311.1700.270.300.570.321.46
    - Contract-term services0.230.250.9200.270.290.300.371.23
    - Other services0.170.20.6970.220.470.700.882.27
    Service revenue0.730.762.7870.771.061.581.544.95
    Total revenue45.5645.7185.36046.8149.1751.3849.83197.19
    Revenue by Geography - in Millions of USDQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    United States44.5744.06181.83845.65647.56849.991--
    All Other0.260.180.7350.3790.543-0.185--
    Total Revenue45.8345.43185.36046.80449.16951.384--