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biote Q1 2025 Earnings Report
Biote reported strong financial performance in Q1 2025, driven by increased gross margin from vertical integration and growth in dietary supplements, while announcing an organizational restructuring.
Key Takeaways
Biote reported a total revenue of $49.0 million for the first quarter of 2025, a 4.7% increase year-over-year. Net income was $15.8 million, a significant improvement from a net loss in the prior year. Gross profit margin increased to 74.3%, primarily due to vertical integration and cost management. Adjusted EBITDA was $13.8 million.
Total revenue increased by 4.7% year-over-year to $49.0 million.
Net income significantly improved to $15.8 million from a net loss of $(5.7) million in the prior year.
Gross profit margin increased to 74.3% due to vertical integration of the 503B manufacturing facility and effective cost management.
Adjusted EBITDA was $13.8 million, with an Adjusted EBITDA margin of 28.1%.
biote
biote
biote Revenue by Segment
Revenue by Segment
Procedure Revenue
CapyFin.comDietary Supplement Revenue
CapyFin.com Forward Guidance
Biote maintains its financial guidance for fiscal 2025, expecting total revenue between $202 million and $208 million and Adjusted EBITDA between $59 million and $64 million. For Q2 2025, revenue and Adjusted EBITDA are expected to be similar to or slightly higher than Q2 2024.
Positive Outlook
- 2025 Procedure revenue is expected to increase approximately 2-4% from 2024.
- 2025 Dietary supplements revenue is expected to increase approximately 5-10% from 2024.
- Strategic reorganization aims to drive sustainable growth and build long-term value.
- Realigning commercial organization and directing resources to drive revenue growth.
- Strengthening sales force productivity by transitioning commercial support personnel to active field sales roles, increasing sales representatives by 25%.
Challenges Ahead
- Company expects to incur a charge of approximately $0.6 million to $0.8 million related to severance costs in Q2 2025 due to restructuring.
- Adjusted EBITDA and Adjusted EBITDA margin decreased compared to the prior-year period primarily due to increased sales and marketing activities to reaccelerate new customer growth.
- Procedure revenue decreased 3.6% year-over-year in Q1 2025, reflecting reduced commercial effectiveness and a slowdown in new clinic additions.
- Operating income decreased in Q1 2025 as higher gross profit was more than offset by increased sales and marketing activities and professional services.
- The forward-looking non-GAAP financial measures do not reflect cash capital expenditure requirements, changes in working capital needs, or tax payments.