NASDAQ$BTMD
biote Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Biote's financial performance was driven by procedure revenue growth and strengthened profitability.
Biote reported a 4.4% increase in revenue to $46.8 million, driven by a 6.6% increase in procedure revenue. The company's gross profit margin increased by approximately 240 basis points to 71.4%. Net loss was $(5.8) million, with a loss per share of $(0.06). Adjusted EBITDA increased by 8.0% to $14.2 million.
- Revenue increased by 4.4% to $46.8 million.
- Procedure revenue increased by 6.6% to $37.4 million.
- Gross profit margin increased by approximately 240 basis points to 71.4%.
- Adjusted EBITDA increased by 8.0% to $14.2 million.
Headline financials
Revenue & EPS history
biote · Revenue · Quarterly
$46.8M
Forward guidance
The company reaffirms its 2024 financial guidance, expecting stronger revenue growth in the second half of the year.
Tailwinds
- Procedure revenue growth in the first half of 2024 similar to that of the second half of 2023 with improved growth in the back half of 2024.
- A return to nutraceutical revenue growth in the second half of 2024.
- Expected modest contributions from new therapeutic wellness products.
- A second-half margin contribution from the anticipated impact of the acquisition of Asteria Health.
Headwinds
- First half 2024 consolidated year-on-year revenue growth is expected to be in the low-single digits.
- Total revenue growth in the first half of 2024 is expected to be impacted by the transition in the nutraceutical distribution channel and timing of seasonal promotions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2024
-2.4%
Avg return
Earnings day
-4.0%
Avg return
5 days after
-3.0%
Avg return
30 days after
55%
11 / 20 earnings
Positive
+16.9%
Q3 2024
Best reaction
-25.1%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | -9.6% | +4.6% | |
| Q4 2025 | -10.5% | -20.9% | -7.6% | |
| Q3 2025 | -2.4% | -11.1% | -13.0% | |
| Q1 2025 | +11.3% | +17.1% | +14.7% | |
| Q4 2024 | -25.1% | -0.7% | -11.0% | |
| Q3 2024 | +16.9% | -6.3% | +13.7% | |
| Q2 2024 | -21.2% | -17.8% | -10.6% | |
| Q1 2024 | +0.2% | +1.0% | +11.1% | |
| Q4 2023 | +11.9% | +27.0% | +10.1% | |
| Q3 2023 | -20.2% | -18.4% | -0.9% | |
| Q2 2023 | -14.4% | -22.0% | -23.7% | |
| Q1 2023 | -17.2% | -14.3% | -20.6% | |
| Q4 2022 | +16.6% | +34.9% | +33.3% | |
| Q3 2022 | +2.3% | +2.5% | +7.2% | |
| Q2 2022 | +1.1% | -4.6% | -7.4% | |
| Q1 2022 | +0.6% | -36.9% | -64.3% | |
| Q4 2021 | +0.0% | +0.0% | +0.6% | |
| Q3 2021 | -0.1% | +0.1% | +1.0% | |
| Q2 2021 | +0.0% | -0.5% | -0.2% | |
| Q1 2021 | +0.6% | +0.6% | +3.0% | |
| Q4 2020 | — | — | — |
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