Biote Q2 revenue up 19% to $49.3M; FY2023 guidance narrowed to lower end

biote Corp.

2023-Q2 EPS reported -$0.62 revenue$94,100,000

Revenue $49.3M (+19.1% YoY) driven by procedure (+9.8%) and supplement (+52.8%) growth; gross margin 67.9% (+60 bps).
GAAP net loss $(13.1M) ($(0.25)/share) vs $(21.3M) ($(0.34)) prior year; adjusted EBITDA $14.5M (+10.6%).
FY2023 guidance lowered to lower end of range: revenue $190-200M, adjusted EBITDA $56-60M, citing moderate H2 pace.
Completed warrant exchange and secondary offering to enhance share liquidity; launched Men's Health division and trials for expanded wellness products.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

biote Corp. reported the second quarter ended June 30, 2023 results: revenue $49.3 million, net income $(13.1) million, EPS $(0.25). Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $49.3 million
Net income: $(13.1) million
EPS: $(0.25)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

for the second quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights (All financial result comparisons made are against the prior year period) • Revenue of $49.3 million, a 19.1% increase • Gross profit margin of 67.9%, a 60-basis point increase • Net loss of $(13.1) million and GAAP loss per share of $(0.25), compared to a net loss of $(21.3)

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Source: SEC EDGAR

accession 0001193125-23-209103

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