Biote (BTMD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BTMD SEC filings page.
Biote Corp. (BTMD) reported $183.5M in revenue over the twelve months to Jun 30, 2026, down 7.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 combined margin expansion and lower liabilities with weaker cash conversion and a still-negative equity base.
FY2025 net income reached$27.0M while operating cash flow fell22.2% . The operating-cash-flow-to-net-income proportion was130.1% , down from1433.1% in FY2024, showing that the earnings rebound translated into less cash relative to profit than the prior year.
Gross margin rose
Total liabilities fell
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Biote Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Biote Corp. has an operating margin of 18.5%, meaning the company retains $19 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is up from 16.0% the prior year.
Biote Corp.'s revenue declined 2.5% year-over-year, from $197.2M to $192.2M. This contraction results in a growth score of 37/100.
Biote Corp.'s current ratio of 1.22 is below the typical benchmark, resulting in a score of 29/100. However, the company holds substantial cash reserves (54% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Biote Corp. converts 15.7% of revenue into free cash flow ($30.2M). This strong cash generation earns a score of 80/100.
Biote Corp. scores 2.46, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from revenue of $192.2M against total assets of $107.6M. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Biote Corp. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Biote Corp. generates $1.30 in operating cash flow ($35.2M OCF vs $27.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Biote Corp. earns $3.24 in operating income for every $1 of interest expense ($35.6M vs $11.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Biote Corp. generated $44.2M in revenue in Q2 2026. This represents a decrease of 9.5% from the same quarter a year earlier. Against the prior quarter it is down 1.6%.
Biote Corp.'s EBITDA was -$2.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 124.7% from the same quarter a year earlier. Against the prior quarter it is down 167.5%.
Biote Corp. reported a net loss of $6.6M in Q2 2026. This represents a decrease of 306.1% from the same quarter a year earlier. Against the prior quarter it is down 388.2%.
Biote Corp. earned -$0.23 per diluted share (EPS) in Q2 2026. This represents a decrease of 330.0% from the same quarter a year earlier. Against the prior quarter it is down 483.3%.
Cash & Balance Sheet
Biote Corp. recorded an outflow of $3.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 170.7% from the same quarter a year earlier. Against the prior quarter it is down 205.5%.
Biote Corp. held $11.2M in cash against $118.4M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Biote Corp.'s gross margin was 65.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 6.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.
Biote Corp.'s operating margin was -7.9% in Q2 2026, reflecting core business profitability. This is down 30.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 15.0 percentage points.
Biote Corp.'s net profit margin was -14.8% in Q2 2026, showing the share of revenue converted to profit. This is down 21.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 19.9 percentage points.
Not reported for Q2 2026.
Capital Allocation
Biote Corp. spent $4.8M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 347.4%.
Biote Corp. invested $2.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 41.3% from the same quarter a year earlier. Against the prior quarter it is up 606.4%.
Not reported for Q2 2026.
BTMD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $44.2M-9.5% | $44.9M-8.3% | $46.4M-6.9% | $48.0M-6.7% | $48.9M-0.6% | $49.0M+4.7% | $49.8M+9.0% | $51.4M+12.8% |
| Cost of Revenue | $15.3M+10.4% | $14.0M+10.9% | $14.8M+5.7% | $13.5M-11.4% | $13.9M-9.7% | $12.6M-6.3% | $14.0M+0.2% | $15.3M+7.8% |
| Gross Profit | $28.9M-17.3% | $31.0M-14.9% | $31.6M-11.8% | $34.4M-4.7% | $35.0M+3.5% | $36.4M+9.1% | $35.8M+12.9% | $36.1M+15.0% |
| SG&A Expenses | $32.4M+33.9% | $27.8M+4.1% | $24.7M-25.1% | $26.2M+9.3% | $24.2M-12.2% | $26.7M+16.4% | $33.0M+26.1% | $23.9M+0.6% |
| Operating Income | -$3.5M-132.6% | $3.2M-67.3% | $6.8M+146.8% | $8.3M-32.1% | $10.8M+72.7% | $9.7M-7.1% | $2.8M-49.8% | $12.2M+60.3% |
| EBITDA | -$2.8M-124.7% | $4.1M-60.7% | $8.1M+76.9% | $9.2M-27.3% | $11.3M+68.3% | $10.5M-5.6% | $4.6M-38.5% | $12.7M+62.6% |
| Interest Expense | $2.2M-23.5% | $2.0M-32.1% | $2.5M-23.3% | $2.7M-22.8% | $2.9M+10.7% | $2.9M+75.0% | $3.2M+108.9% | $3.5M+131.5% |
| Income Tax | $296K-86.2% | $662K-59.0% | $3.0Mn/m | -$765K-123.9% | $2.1M+2845.2% | $1.6M-32.7% | -$4.7Mn/m | $3.2M-17.4% |
| Net Income | -$6.6M-306.1% | $2.3M-83.4% | $2.0M-47.2% | $8.2M-23.5% | $3.2Mn/m | $13.7Mn/m | $3.7M-52.1% | $10.7M+42.1% |
| EPS (Basic) | -$0.23-330.0% | $0.07-84.1% | $0.06-45.5% | $0.26-23.5% | $0.10n/m | $0.44n/m | $0.11-65.6% | $0.34+36.0% |
| EPS (Diluted) | -$0.23-330.0% | $0.06-83.8% | $0.06-45.5% | $0.22-33.3% | $0.10n/m | $0.37n/m | $0.11-65.6% | $0.33+37.5% |
| Diluted Shares (Avg) | 29M-9.8% | 36M-2.6% | N/A | 37M+13.8% | 32M-4.0% | 37M+6.7% | N/A | 32M+3.9% |
Not reported in any period shown, so not listed: R&D Expenses.
BTMD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $101.7M-3.0% | $89.0M-27.8% | $107.6M-12.1% | $111.3M+9.9% | $104.8M+12.8% | $123.4M-22.9% | $122.4M-21.2% | $101.3M-32.4% |
| Current Assets | $43.0M-13.1% | $36.4M-47.1% | $54.7M-19.8% | $57.1M-18.4% | $49.5M-19.9% | $68.7M-39.9% | $68.1M-44.3% | $70.0M-40.6% |
| Cash & Equivalents | $11.2M-43.0% | $5.3M-87.2% | $24.1M-38.7% | $28.0M-26.6% | $19.6M-25.8% | $41.7M-47.1% | $39.3M-55.8% | $38.2M-41.7% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0-100.0% |
| Inventory | $18.3M+51.1% | $19.9M+47.8% | $19.1M+28.4% | $16.4M+1.5% | $12.1M-36.9% | $13.5M-28.9% | $14.8M-14.2% | $16.2M+46.2% |
| Accounts Receivable | $7.8M-13.9% | $7.4M-4.7% | $6.9M-10.0% | $8.0M-6.1% | $9.1M+17.9% | $7.8M-3.2% | $7.6M+12.1% | $8.5M-16.5% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $5.8M0.0% | $5.8M0.0% | $5.8M0.0% | $5.8M+5.7% | $5.8M+5.7% | $5.8M+5.6% | $5.8M | $5.5M |
| Total Liabilities | $159.9M-12.9% | $137.0M-34.2% | $158.0M-29.6% | $176.8M-22.5% | $183.6M-21.7% | $208.2M+1.6% | $224.6M+17.1% | $228.1M+13.5% |
| Current Liabilities | $30.1M-40.4% | $28.2M-41.8% | $45.0M-12.7% | $56.3M+21.1% | $50.5M+9.2% | $48.5M+101.5% | $51.5M+131.9% | $46.5M+85.4% |
| Non-Current Liabilities | $129.8M-2.5% | $108.8M-31.9% | $113.0M-34.7% | $120.5M-33.6% | $133.1M-29.3% | $159.7M-11.7% | $173.1M+2.0% | $181.6M+3.2% |
| Long-Term Debt | $118.4M+20.2% | $94.4M-5.4% | $95.8M-5.4% | $97.1M-5.3% | $98.5M-5.2% | $99.8M-5.2% | $101.2M-5.1% | $102.5M-5.0% |
| Total Equity | -$65.8Mn/m | -$56.1Mn/m | -$58.5Mn/m | -$72.8Mn/m | -$85.1Mn/m | -$90.0Mn/m | -$105.9Mn/m | -$130.3Mn/m |
| Retained Earnings | -$50.9Mn/m | -$46.0Mn/m | -$49.5Mn/m | -$63.8Mn/m | -$79.5Mn/m | -$84.3Mn/m | -$100.3Mn/m | -$124.7Mn/m |
BTMD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.2M-116.6% | $3.9M-39.7% | $7.6M-38.8% | $14.1M-9.5% | $7.1M-28.8% | $6.5M-12.3% | $12.4M+77.8% | $15.6M+9622.5% |
| Depreciation & Amortization | $711K+24.7% | $980K+14.4% | $951K-16.4% | $952K+90.4% | $570K+14.0% | $857K+14.3% | $1.1M-24.6% | $500K+150.0% |
| Stock-Based Compensation | N/A | $1.8M-17.3% | N/A | N/A | N/A | $2.1M+20.6% | N/A | N/A |
| Capital Expenditures | $2.6M+41.3% | $362K-77.8% | $1.1M-35.5% | $499K-67.8% | $1.8M-27.8% | $1.6M+131.5% | $1.7M+950.3% | $1.6M+243.7% |
| Free Cash Flow | -$3.7M-170.7% | $3.5M-26.8% | $6.5M-39.3% | $13.6M-3.1% | $5.3M-29.1% | $4.8M-27.5% | $10.7M+57.4% | $14.0Mn/m |
| Investing Cash Flow | -$2.6Mn/m | -$1.2Mn/m | -$2.4Mn/m | -$690Kn/m | -$2.0Mn/m | -$1.8Mn/m | -$1.3M-106.9% | -$2.0Mn/m |
| Financing Cash Flow | $9.6Mn/m | -$21.5Mn/m | -$9.1Mn/m | -$4.9Mn/m | -$27.2Mn/m | -$2.3Mn/m | -$9.9Mn/m | -$1.8Mn/m |
| Dividends Paid | $616K-30.6% | $405K-41.6% | $138K+56.8% | $8K-98.2% | $887K-78.5% | $694K+736.1% | $88K-92.0% | $453K-54.7% |
| Share Buybacks | $4.8M | $1.1M | $0n/m | N/A | N/A | N/A | $0 | $0 |
BTMD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.4%-6.2pp | 68.9%-5.4pp | 68.0%-3.8pp | 71.8%+1.5pp | 71.6%+2.8pp | 74.3%+3.0pp | 71.8%+2.5pp | 70.3%+1.4pp |
| Operating Margin | -7.9%-30.0pp | 7.0%-12.7pp | 14.7%+9.2pp | 17.2%-6.5pp | 22.0%+9.3pp | 19.8%-2.5pp | 5.5%-6.5pp | 23.7%+7.0pp |
| Net Margin | -14.8%-21.4pp | 5.1%-22.9pp | 4.2%-3.2pp | 17.1%-3.8pp | 6.5%+20.9pp | 28.0%+36.9pp | 7.4%-9.5pp | 20.8%+4.3pp |
| Return on Assets | -6.5%-9.5pp | 2.6%-8.6pp | 1.8%-1.2pp | 7.4%-3.2pp | 3.0%+10.7pp | 11.1%+13.7pp | 3.0%-1.9pp | 10.6%+5.5pp |
| Current Ratio | 1.43+0.5x | 1.29-0.1x | 1.22-0.1x | 1.01-0.5x | 0.98-0.4x | 1.42-3.3x | 1.32-4.2x | 1.50-3.2x |
| Asset Turnover | 0.430.0x | 0.50+0.1x | 0.430.0x | 0.43-0.1x | 0.47-0.1x | 0.40+0.1x | 0.41+0.1x | 0.51+0.2x |
| FCF Margin | -8.4%-19.2pp | 7.9%-2.0pp | 14.0%-7.5pp | 28.3%+1.0pp | 10.8%-4.3pp | 9.9%-4.4pp | 21.5%+6.6pp | 27.3%+27.9pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, Liabilities-to-Equity.
Note: Shareholder equity is negative (-$58.5M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Biote Corp. BTMD | FY2025 | $192.2M | $27.0M | 14.1% | $33.0M | 52/100 |
| The Joint Corp. JYNT | FY2025 | $54.9M | $2.9M | 5.3% | $103.0M | 27/100 |
| DocGo Inc. DCGO | FY2025 | $322.2M | -$182.4M | -56.6% | $28.2M | 37/100 |
| agilon health, inc. AGL | FY2025 | $5.9B | -$391.3M | -6.6% | $1.5B | 39/100 |
| Community Health Systems, Inc. CYH | FY2025 | $12.5B | $509.0M | 4.1% | $414.6M | 39/100 |
Where Biote Corp. Ranks
Frequently Asked Questions
What is Biote Corp.'s annual revenue?
Biote Corp. (BTMD) reported $192.2M in total revenue for fiscal year 2025. This represents a -2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Biote Corp.'s revenue growing?
Biote Corp. (BTMD) revenue declined by 2.5% year-over-year, from $197.2M to $192.2M in fiscal year 2025.
Is Biote Corp. profitable?
Yes, Biote Corp. (BTMD) reported a net income of $5.9M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $27.0M, with a net profit margin of 14.1%.
What is Biote Corp.'s EBITDA?
Biote Corp. (BTMD) had EBITDA of $39.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Biote Corp. have?
As of fiscal year 2025, Biote Corp. (BTMD) had $24.1M in cash and equivalents against $95.8M in long-term debt.
What is Biote Corp.'s gross margin?
Biote Corp. (BTMD) had a gross margin of 71.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Biote Corp.'s operating margin?
Biote Corp. (BTMD) had an operating margin of 18.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Biote Corp.'s net profit margin?
Biote Corp. (BTMD) had a net profit margin of 14.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Biote Corp.'s free cash flow?
Biote Corp. (BTMD) generated $30.2M in free cash flow during fiscal year 2025. This represents a -22.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Biote Corp.'s operating cash flow?
Biote Corp. (BTMD) generated $35.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Biote Corp.'s total assets?
Biote Corp. (BTMD) had $107.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Biote Corp.'s capital expenditures?
Biote Corp. (BTMD) invested $5.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Biote Corp.'s current ratio?
Biote Corp. (BTMD) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.
What is Biote Corp.'s return on assets (ROA)?
Biote Corp. (BTMD) had a return on assets of 25.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Biote Corp.'s P/E ratio?
Biote Corp. (BTMD) trades at 5.6x earnings, its market capitalization divided by $5.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $33.0M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Biote Corp.'s price-to-sales ratio?
Biote Corp. (BTMD) trades at 0.2x sales, its market capitalization divided by $183.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $33.0M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Biote Corp.'s debt-to-equity ratio negative or not reported?
Biote Corp. (BTMD) has negative shareholder equity of -$58.5M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Biote Corp.'s Altman Z-Score?
Biote Corp. (BTMD) has an Altman Z-Score of 2.46, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Biote Corp.'s Piotroski F-Score?
Biote Corp. (BTMD) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Biote Corp.'s earnings high quality?
Biote Corp. (BTMD) has an earnings quality ratio of 1.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Biote Corp. cover its interest payments?
Biote Corp. (BTMD) has an interest coverage ratio of 3.24x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Biote Corp.?
Biote Corp. (BTMD) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.