NASDAQ · Financial Statements

Biote Corp. (BTMD) Financial Statements

$1.07 NASDAQ: BTMD Market Cap $47.20M

Biote Corp. most recently reported annual revenue of $192.0M, net profit of $27.0M. Revenue grew at an average annual rate of 10.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Biote Corp.: Revenue rose from $110.0M in 2019 to $192.0M in 2025, a change of +74.5% over 6 years; net profit was positive in 6 of 7 reported years; operating margin moved from 21.4% to 18.5%, a shift of -2.9 percentage points; the most recent year shows net profit of $27.0M.

Income Statement — 7 Years (USD millions)

Metric	2019	2020	2021	2022	2023	2024	2025
Revenue	$110.0M	$117.0M	$139.0M	$165.0M	$185.0M	$197.0M	$192.0M
Operating Expenses	$86.0M	$85.0M	$105.0M	$226.0M	$157.0M	$166.0M	$157.0M
Operating Profit	$24.0M	$32.0M	$35.0M	$-61.0M	$29.0M	$32.0M	$36.0M
Operating Margin	21.4%	27.3%	24.8%	-36.8%	15.5%	16.0%	18.5%
Other Income	$-2.0M	$-2.0M	$-2.0M	$62.0M	$-29.0M	$-31.0M	$2.0M
Interest	$2.0M	$2.0M	$2.0M	$4.0M	$6.0M	$11.0M	$11.0M
Depreciation	$1.0M	$1.0M	$1.0M	$2.0M	$3.0M	$4.0M	$4.0M
Profit Before Tax	$21.0M	$29.0M	$33.0M	$2.0M	$0	$1.0M	$38.0M
Tax	$430,000	$640,000	$870,000	$22.7M	$-2.2B	$95.5M	$15.9M
Net Profit	$21.0M	$29.0M	$33.0M	$-1.0M	$3.0M	$3.0M	$27.0M
EPS	$2.81	$3.85	$4.31	$-0.12	$0.13	$0.09	$0.74
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$46.0M	$46.0M	$47.0M	$49.0M	$51.0M	$50.0M	$49.0M	$49.0M	$48.0M	$46.0M	$45.0M	$44.0M
Operating Expenses	$38.0M	$40.0M	$36.0M	$43.0M	$39.0M	$47.0M	$39.0M	$38.0M	$40.0M	$40.0M	$42.0M	$48.0M
Operating Profit	$8.0M	$6.0M	$10.0M	$6.0M	$12.0M	$3.0M	$10.0M	$11.0M	$8.0M	$7.0M	$3.0M	$-4.0M
Operating Margin	16.7%	12.1%	22.3%	12.9%	23.7%	5.5%	19.8%	22.0%	17.2%	14.7%	7.0%	-7.9%
Interest	$2.0M	$2.0M	$2.0M	$3.0M	$4.0M	$3.0M	$3.0M	$3.0M	$3.0M	$2.0M	$2.0M	$2.0M
Profit Before Tax	$24.0M	$9.0M	$-3.0M	$-10.0M	$16.0M	$-1.0M	$17.0M	$6.0M	$8.0M	$6.0M	$3.0M	$-7.0M
Tax	$16.5M	$-29.4M	$-72.3M	$-710,000	$20.2M	$385.5M	$9.3M	$35.4M	$-9.1M	$53.3M	$19.8M	$-4.2M
Net Profit	$8.0M	$8.0M	$-4.0M	$-7.0M	$11.0M	$4.0M	$14.0M	$3.0M	$8.0M	$2.0M	$2.0M	$-7.0M
EPS	$0.24	$0.12	$-0.06	$-0.19	$0.33	$0.10	$0.37	$0.10	$0.22	$0.06	$0.06	$-0.23

Over the 7 years reported for Biote Corp., borrowings increased from $47.0M in 2019 to $110.0M in 2025, cash stood at $24.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.22 times.

Balance Sheet — 7 Years (USD millions)

Metric	2019	2020	2021	2022	2023	2024	2025
Total Assets	$24.0M	$33.0M	$54.0M	$112.0M	$155.0M	$122.0M	$108.0M
Current Assets	$19.0M	$28.0M	$47.0M	$101.0M	$122.0M	$68.0M	$55.0M
Cash	$10.0M	$17.0M	$27.0M	$79.0M	$89.0M	$39.0M	$24.0M
Inventory	$4.0M	$4.0M	$10.0M	$11.0M	$17.0M	$15.0M	$19.0M
Receivables	$4.0M	$5.0M	$5.0M	$7.0M	$8.0M	$8.0M	$8.0M
Fixed Assets	$3.0M	$2.0M	$3.0M	$4.0M	$3.0M	$10.0M	$13.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$0	$0	$0	$0	$0	$0
Other Assets	$0	$0	$0	$0	$0	$6.0M	$6.0M
Total Liabilities	$57.0M	$50.0M	$50.0M	$170.0M	$192.0M	$225.0M	$158.0M
Current Liabilities	$14.0M	$12.0M	$17.0M	$19.0M	$22.0M	$52.0M	$45.0M
Borrowings	$47.0M	$42.0M	$37.0M	$120.0M	$115.0M	$111.0M	$110.0M
Other Liabilities	$10.0M	$7.0M	$13.0M	$49.0M	$77.0M	$114.0M	$48.0M
Equity	$0	$0	$0	$0	$0	$0	$0
Reserves	$-33.0M	$-17.0M	$4.0M	$-44.0M	$-29.0M	$-106.0M	$-59.0M

For Biote Corp., operating cash flow was positive in 6 of 7 reported years; free cash flow in the latest year was $30.0M; free cash flow was positive in 6 of 7 years; financing activities used $41.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 7 Years (USD millions)

Metric	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$25.0M	$26.0M	$34.0M	$-9.0M	$27.0M	$45.0M	$35.0M
Investing Cash Flow	$-3.0M	$-3.0M	$-8.0M	$-4.0M	$-5.0M	$-25.0M	$-12.0M
Financing Cash Flow	$-1.0M	$0	$-4.0M	$-8.0M	$0	$-65.0M	$-41.0M
Net Cash Flow	$10.0M	$7.0M	$10.0M	$52.0M	$10.0M	$-50.0M	$-15.0M
Free Cash Flow	$24.0M	$25.0M	$30.0M	$-11.0M	$24.0M	$39.0M	$30.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	-0.07
EV / EBITDA	6.94
FCF Yield	43.32%
Quick Ratio	0.82
Interest Coverage	1.58
Return 1Y	-42.77%
Return 3Y	-67.60%
Return 5Y	-76.80%

Biote Corp. (BTMD) financials — frequently asked questions

What is Biote Corp.'s annual revenue?

Biote Corp. (BTMD) reported annual revenue of $192.0M in its most recent fiscal year.

What is Biote Corp.'s net profit?

Biote Corp. (BTMD) reported net profit of $27.0M in its most recent fiscal year.

What is BTMD EV/EBITDA?

Biote Corp.'s enterprise value to EBITDA (EV/EBITDA) ratio is 6.94.

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