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Jun 30
biote Q2 2025 Earnings Report
Biote reported its second quarter 2025 financial results, driven by strong dietary supplement sales and gross margin expansion, alongside a corporate reorganization to boost new clinic and procedure growth.
Key Takeaways
Biote's second quarter 2025 performance showed a slight year-over-year revenue decrease to $48.9 million, but a significant improvement in profitability with net income reaching $3.9 million compared to a loss in the prior year. Adjusted EBITDA increased by 19.1% to $15.2 million, with the margin expanding to 31.1%, primarily due to the shift of their annual marketing event and efficiency gains from vertical integration.
Total revenue for Q2 2025 was $48.9 million, a slight decrease from $49.2 million in the prior year.
Net income for the quarter was $3.9 million, a substantial improvement from a net loss of $(10.4) million in Q2 2024.
Adjusted EBITDA increased by 19.1% year-over-year to $15.2 million, with the Adjusted EBITDA margin expanding to 31.1%.
Gross profit margin improved to 71.6% from 68.8% in the prior year, attributed to vertical integration and effective cost management.
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biote Revenue by Segment
Revenue by Segment
Procedure Revenue
CapyFin.comDietary Supplement Revenue
CapyFin.com Forward Guidance
Biote has adjusted its fiscal 2025 revenue guidance to be greater than $190 million, down from the previously disclosed range of $202-$208 million. Fiscal 2025 Adjusted EBITDA guidance is also revised to be greater than $50 million, compared to the prior range of $59-$64 million. This adjustment reflects the ongoing reorganization of the commercial organization.
Positive Outlook
- Revised fiscal 2025 revenue guidance is still projected to be above $190 million.
- Revised fiscal 2025 Adjusted EBITDA guidance is still projected to be above $50 million.
- Dietary supplements revenue is now expected to grow at a mid-teens percentage rate from 2024, an increase from the prior forecast of approximately 5-10% growth.
- The company's liquidity remains strong.
- Biote intends to continue investing in its value proposition to gain and retain practitioners.
Challenges Ahead
- Fiscal 2025 revenue guidance has been lowered from the previously disclosed range of $202-$208 million to greater than $190 million.
- Fiscal 2025 Adjusted EBITDA guidance has been lowered from the previously disclosed range of $59-$64 million to greater than $50 million.
- Procedure revenue for 2025 is now expected to decrease at a high single-digit percentage rate from 2024, a significant change from the prior forecast of 2-4% growth.
- The revised guidance reflects impacts from the ongoing reorganization of the commercial organization.
- It will take time for the implemented changes to have a positive impact on performance and growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income