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Jun 30, 2023
biote Q2 2023 Earnings Report
Reported solid revenue growth and continued progress optimizing capital structure.
Key Takeaways
Biote reported a 19.1% increase in revenue, reaching $49.3 million, driven by procedure and dietary supplement revenue growth. The company's gross profit margin increased by 60 basis points to 67.9%. Net loss was $(13.1) million, with a GAAP loss per share of $(0.25). Adjusted EBITDA increased by 10.6% to $14.5 million.
Revenue increased by 19.1% to $49.3 million.
Gross profit margin increased by 60 basis points to 67.9%.
Net loss was $(13.1) million, with a GAAP loss per share of $(0.25).
Adjusted EBITDA increased by 10.6% to $14.5 million.
Forward Guidance
Biote anticipates a more moderate pace of growth in the second half of 2023 due to temporary inefficiencies from sales realignment and evolving market dynamics. As a result, the company forecasts 2023 revenue and Adjusted EBITDA will likely be toward the lower end of their guidance range.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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