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Jun 30, 2024
biote Q2 2024 Earnings Report
Biote's financial performance remained relatively stable year-over-year, with revenue slightly decreasing but procedure revenue growing, offset by a decline in dietary supplement revenue, and the company experienced a net loss due to increased investments and changes in the fair value of liabilities.
Key Takeaways
Biote reported revenue of $49.2 million, a slight decrease from the previous year. Procedure revenue increased, but dietary supplement revenue declined. The company experienced a net loss of $(10.5) million, influenced by increased investments in sales and marketing and changes in the fair value of earnout liabilities.
Revenue was $49.2 million.
Procedure revenue grew 7.8% year-over-year.
Net loss was $(10.5) million, with a loss per share of $(0.19).
Gross profit margin was 68.9%, including a $1.2 million inventory step-up from the Asteria Health acquisition.
Revenue by Segment
Forward Guidance
Biote reiterates its 2024 financial guidance for revenue between $200 million and $204 million and Adjusted EBITDA between $60 million and $63 million, anticipating accelerated growth in the second half of the year and moderating operating expenses.
Positive Outlook
- Expect improved procedure revenue growth in the second half of 2024.
- Growth will be driven by strengthened performance from top-tier clinics.
- Growth will be driven by continued expansion of practitioner network.
- Growth will be driven by quick-start program that accelerates the revenue ramp from new clinics.
- Overall operating expenses will moderate in the second half of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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