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. reports developments tied to its hormone optimization and healthy aging business, which supports Biote-certified medical providers through training, practice development, operational services and personalized hormone therapy programs. Company updates commonly cover procedure revenue, dietary supplement sales, new provider and clinic growth, commercial team expansion and technology or sales investments aimed at the practitioner network.
Biote news also includes quarterly financial results, outlook commentary, share repurchases, organizational changes and product-supply matters. Its operating updates distinguish procedure-based revenue from Biote-branded dietary supplements and have included disclosures related to Asteria Health, the company’s wholly owned 503B manufacturing subsidiary.
Biote (Nasdaq: BTMD) has scheduled its third quarter 2024 financial results announcement for Tuesday, November 12, 2024, after market close. The company, which specializes in preventive health care through personalized hormone optimization and therapeutic wellness, will host a conference call at 5:00 p.m. ET on the same day. Participants can join via U.S toll-free number (844) 481-2820 or International number (412) 317-0679. A webcast replay will be available on the company's Investor Relations website after the event.
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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