Biote Corp
biote.comWhat Do They Do?
Charges partnered clinics for hormone-treatment procedures, sells them Biote-branded supplements, and provides practitioners with training, software and ongoing practice support.
10-K for FY2025, filed Mar 13, 2026We operate a high-growth practice-building business within the hormone optimization space. Similar to a franchise model, we provide the…View ↗
We derive the majority of our revenue through service fees that encompass the comprehensive platform and wraparound support we provide our…View ↗
The Company recognizes revenue for pellet procedures at the point in time the procedures are performed by the practitioner, which is when…View ↗
How Do They Make Money?
Clinics pay Biote for each pellet procedure, with bills paid twice a month. Supplements and disposable instruments are invoiced when shipped; training is paid upfront, and ongoing practice support is provided over the contract term.
10-K for FY2025, filed Mar 13, 2026The Company recognizes revenue for pellet procedures at the point in time the procedures are performed by the practitioner, which is when…View ↗
Biote-branded dietary supplements are supplements that may be used to address hormone, vitamin, and physiological deficiencies that…View ↗
Disposable Trocars are surgical instruments intended for use by Biote-certified practitioners. These instruments are used to implant the…View ↗
F-12 fee for this training. Customers pay in full for the initial training at the time of contract inception. The standalone selling price…View ↗
The Company recognizes revenue for contract-term services on a straight-line basis over the initial term of the contract, which aligns with…View ↗
$192.2M
-
10-K for FY2025, filed Mar 13, 2026
$192.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product Revenue
Mix
10-K for FY2025, filed Mar 13, 2026 |
97%
FY2022: 99%
|
Product Revenue, FY2025
$186.9M Sources
|
Mix |
|
Service Revenue
|
2.8%
FY2022: 1.1%
|
Service Revenue, FY2025
$5.3M Sources
|
Who Are Their Customers?
Partnered clinics buy Biote Method services and supplements directly; clinics resell supplements to patients, who can also order through practitioner-invited online stores or Amazon.
10-K for FY2025, filed Mar 13, 2026The Company generates revenues through standard service agreements with customers who participate in the Biote Method. The Biote Method is…View ↗
Our Biote-branded dietary supplements are a natural extension of our practice-building business and represent approximately 22% of our…View ↗
Increasing sales of Biote-branded dietary supplements. Our Biote-branded dietary supplement line currently includes 26 dietary supplements…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 14 cents of every revenue dollar as net income in FY2025 and turned 16 cents into free cash flow.
10-K for FY2025, filed Mar 13, 2026
$35.6MView ↗
10-K for FY2025, filed Mar 13, 2026
$27MView ↗
10-K for FY2025, filed Mar 13, 2026
$30.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
−$6.6MView ↗
- ▼ Now a loss
- vs $3.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Aug 5, 2026
Biote revised its 2026 financial outlook
The revised outlook sets revenue above $175 million and Adjusted EBITDA above $25 million.
Sources
8-K, filed Aug 5, 2026
In terms of our 2026 outlook, we expect procedure revenue to show sequential improvement in both the third and fourth quarters, benefiting…View ↗
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Jun 2, 2026
Bret Christensen left as CEO; Bob Peterson became interim CEO
Marc Beer also became Executive Chairman.
Sources
8-K, filed Jun 2, 2026
On May 27, 2026, the Board of Directors (the “Board”) of biote Corp. (the “Company”) accepted the resignation of Bret Christensen, the…View ↗
Growing. Revenue grew 38% in 4 years, from $139.4M in FY2021 to $192.2M in FY2025, about 8% a year.
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