NASDAQ$BTMD
biote Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Biote reported a revenue increase driven by procedure revenue growth, offset by a decline in dietary supplement revenue. Gross profit margin increased due to product mix and effective cost management. Net income was slightly lower than the previous year, with earnings per share remaining the same.
Biote reported a 2.7% increase in revenue to $45.7 million for Q4 2023, driven by a 6.6% increase in procedure revenue. Net income was $12.1 million, with diluted earnings per share of $0.18. The company's gross profit margin improved to 69.4%.
- Revenue increased by 2.7% to $45.7 million.
- Procedure revenue increased by 6.6%.
- Gross profit margin increased to 69.4%.
- Net income was $12.1 million, with diluted EPS of $0.18.
Headline financials
Revenue & EPS history
biote · Revenue · Quarterly
$45.7M
Forward guidance
Biote anticipates solid financial performance in 2024, expecting stronger revenue growth in the second half of the year.
Tailwinds
- Procedure revenue growth in the first half of 2024 is expected to be similar to the second half of 2023.
- Improved procedure revenue growth is expected in the back half of 2024.
- A return to nutraceutical revenue growth is anticipated in the second half of 2024.
- Modest contributions are expected from new therapeutic wellness products.
- A second-half margin contribution is expected from 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.
- Total revenue growth in the first half of 2024 is expected to be impacted by the timing of seasonal promotions.
- The company does not provide a reconciliation of forward-looking non-GAAP financial measures to their comparable GAAP financial measures because it could not do so without unreasonable effort.
- The Company’s projected Adjusted EBITDA excludes certain items that are inherently uncertain and difficult to predict including, but not limited to, share-based compensation expense, income taxes, due diligence expenses and legal expenses.
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 Q4 2023
-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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