Biote lowers FY2023 revenue guidance to $185-187M; acquires Asteria Health for $8.5M

biote Corp.

2023-FY EPS reported $0.13 revenue$185,360,000

FY2023 revenue expected $185-187M (prior guidance $190-200M lower end); Adjusted EBITDA $54-56M (prior $56-60M).
Q4 2023 revenue $45-47M; Adj. EBITDA $12-14M; nutraceutical revenue down ~15% due to distributor exit.
FY2024 guidance: revenue >$200M, Adj. EBITDA >$60M; first half growth low-single digits, improving in H2.
Acquired Asteria Health (503B manufacturer) for $8.5M cash + up to $0.5M earnout; close expected Q1 2024.
Acquisition enables vertical integration of hormone product manufacturing and margin improvement.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

biote Corp. updated its the three months and year ended December 31, 2023 guidance (lowered).

Period: the three months and year ended December 31, 2023
Guidance: lowered
Result: preliminary results

Exact text from the filing

On January 17, 2024, biote Corp., a Delaware corporation (the “Company”) issued a press release to report preliminary financial results for the three months and year ended December 31, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

biote Corp. updated its fiscal year ended December 31, 2024 guidance (initiated).

Period: fiscal year ended December 31, 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

the Company is providing initial 2024 financial guidance that management will discuss in more detail during the Company’s fiscal 2023 fourth quarter results conference call. Specifically, Biote projects fiscal 2024 revenue of greater than $200 million and Adjusted EBITDA of greater than $60 million.

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biote Corp. filing history →

Source: SEC EDGAR

accession 0001193125-24-009293

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