NASDAQ$BTMD
biote Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Biote's revenue increased, driven by procedure revenue and dietary supplements, with gross profit margin improvement from vertical integration.
Biote reported a 12.8% increase in third-quarter revenue, driven by procedure revenue growth and a strong return to growth in the dietary supplements business. The company saw a solid improvement in gross profit margin due to cost savings from vertical integration of manufacturing. Net income was $12.7 million, and adjusted EBITDA increased by 15.4% compared to the third quarter of 2023.
- Revenue increased to $51.4 million.
- Procedure revenue reached $37.9 million.
- Gross profit margin improved to 70.5%.
- Net income was $12.7 million, with diluted earnings per share of $0.33.
Headline financials
Revenue & EPS history
biote · Revenue · Quarterly
$51.4M
Forward guidance
Biote is adjusting its 2024 financial guidance to $197-$201 million in revenue and $58-$61 million in Adjusted EBITDA.
Tailwinds
- Advanced clinical decision support software represents a key competitive differentiator.
- Software advances commitment to enhancing patient health.
- Software follows the latest evidence-based publications.
- Software makes recommendations across the expanded range of our portfolio of products.
- Software is expected to strengthen providers’ capabilities to serve a broader range of patients.
Headwinds
- Some residual impact to procedure revenue is expected in the fourth quarter of 2024.
- Hurricanes Helene and Milton caused extended clinic closures in several of our core states in October, temporarily impacting procedure revenue in the fourth quarter of 2024.
- Practitioners need workflow guidance and software training.
- lower revenue guidance
- lower Adjusted EBITDA guidance
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 Q3 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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