Welcome to our dedicated page for Biote news (Ticker: BTMD), a resource for investors and traders seeking the latest updates and insights on Biote stock.
Biote Corp. (BTMD) operates in the specialized field of hormone optimization, offering growth practice-building solutions. The company's primary focus is to empower Biote-certified practitioners with the tools and knowledge required to establish, build, and effectively implement hormone optimization programs. These programs are designed to provide personalized solutions tailored to individual patient needs.
Biote Corp. provides a comprehensive suite of components to its practitioners, including training, marketing support, and ongoing education. This holistic approach ensures that practitioners are well-equipped to deliver high-quality care in the hormone optimization space. The company's commitment to education and support is a key differentiator, enabling practitioners to stay at the forefront of this rapidly evolving field.
Recent achievements by Biote Corp. include expanding its network of certified practitioners and forging new partnerships aimed at enhancing its service offerings. The company continues to invest in research and development to improve its products and services, ensuring that they meet the highest standards of efficacy and safety.
Financially, Biote Corp. has demonstrated steady growth, driven by the increasing demand for hormone optimization solutions. The company's strategic initiatives and robust business model have positioned it well to capitalize on emerging opportunities in the healthcare sector.
For those interested in the latest updates and developments from Biote Corp., the company regularly releases news and updates, which are accessible through various channels.
Biote (NASDAQ: BTMD) reported its Q2 2024 financial results, highlighting revenue of $49.2 million and a gross profit margin of 68.9%, up from 67.9% last year. Procedure revenue grew by 7.8%, reaching $38.4 million. The company faced a net loss of $(10.5) million, an improvement from a $(13.1) million loss in Q2 2023. Adjusted EBITDA was $12.7 million, down from $14.5 million a year earlier, due to increased sales and marketing investments.
Biote expanded its clinic network by 30% in the first half of 2024 and continued rolling out its BioteRx suite of hormone and wellness therapies, now in approximately 600 clinics. The company settled litigation with its founder, repurchasing 18.4 million shares. Guidance for 2024 remains unchanged, with revenue expected between $200-$204 million and Adjusted EBITDA between $60-$63 million.
Biote Corp. (Nasdaq: BTMD), a leader in preventive health care through personalized hormone optimization and therapeutic wellness, has announced its upcoming second quarter 2024 financial results release. The company will disclose its financial performance on Thursday, August 8, 2024, after market close, followed by a conference call at 5:00 p.m. ET the same day.
Investors and interested parties can access the conference call by dialing (844) 481-2820 (U.S. toll-free) or (412) 317-0679 (International). A live webcast of the call will also be available. Following the event, a replay of the webcast will be accessible on the Events page of Biote's Investor Relations website.
Biote (NASDAQ: BTMD) has reached a $60 million agreement with stockholder Marci M. Donovitz to resolve ongoing litigation. The company will repurchase approximately 8.3 million shares and cancel around 4.0 million earnout shares owned by Ms. Donovitz. The repurchases, averaging $7.23 per share, will be executed over a three-year schedule. This settlement aligns with Biote's capital allocation strategy and aims to enhance long-term shareholder value. Biote's management believes this transaction represents an advantageous use of capital, eliminating future earnout obligations and consolidating share control.
Biote reported solid financial performance in the first quarter of 2024, with revenue reaching $46.8 million, a 4.4% increase from the prior year. Procedure revenue grew by 6.6%, while the gross profit margin improved to 71.4%. The company reported a net loss of $(5.8) million, representing a net loss margin of (12.4)%. Adjusted EBITDA increased by 8.0% to $14.2 million. Biote reaffirmed its 2024 financial guidance, expecting revenue of $200-$204 million and Adjusted EBITDA of $60-$63 million.
Biote Corp. (NASDAQ: BTMD) has settled outstanding litigation with its founder, Dr. Gary S. Donovitz, by repurchasing all of his 18.4 million shares at $4.17 per share. The Settlement Agreement includes mutual claims release, termination of advisory agreement, non-compete and non-solicitation agreements, and a voting agreement. The company plans to repurchase shares over a three-year schedule for a total of approximately $76.9 million to enhance shareholder value.
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