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BTMD · NASDAQ · Medical - Care Facilities

biote

Builds and supports clinician practices offering pellet-based hormone optimization.

$1.57

After-hours close−0.00 (−0.32%)

At close$1.58(−3.37%)

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Profile

biote Corp.BTMDHealth Care

Supplies certified practitioners with education, training, certification and platform support for pellet-based hormone optimization. It operates through a practice-building model while practitioners, rather than the company, provide care to patients.

Provides education, training, certification and other platform support for clinicians offering pellet-based hormone optimization through the Biote Method. Its practice-building model gives certified practitioners the components to establish a hormone-optimization offering.

The company compares that model to a franchise model. Practitioners provide care to their patients, while biote supports the offering rather than operating the patient clinics itself.

Headquartered in Irving, Texas, biote developed provider-training programs and relationships with outsourcing facilities that compound bioidentical hormone pellets. Its role centers on standardizing clinician training and support around the proprietary Biote Method.

Company facts

CEOBob Peterson

ListedMay 27, 2022

ExchangeNASDAQ

HeadquartersIrving, TX

CountryUnited States

Employees223

CIK0001819253

ISINUS0906831039

Key statistics

Market cap$69.2M

EPS (ttm)$0.1167

P/E (ttm)13.45

ROE-9.3%

P/B−0.6831

P/S0.3773

Dividend yield—

Beta1.31vs XLV 0.11

Year to date −36.2% · Average volume (30d) 278.2K

Analysts

Price target, next 12 months$3.25+107.0%Median of 7 analysts · vs the Aug 28 close

ConsensusBuy6 of 7 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $1.57

High$4.00+154.8%

Median$3.25+107.0%

Low$2.50+59.2%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Apr 16, 2026	Truist Financial	Target			$5	$4
Mar 12, 2026	National Bank	Target				$2.50
Jan 7, 2026	Truist Financial	Target			$9	$5
Aug 7, 2025	B. Riley Securities	Downgrade	Buy	Neutral

Earnings

EPS

Estimate−$0.05

ReportedDue Nov 4, 2026

Revenue

Estimate$44.0M

ReportedDue Nov 4, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	$0.03	−$0.23	−962.4%	$46.1M	$44.2M	−4.2%	−27.88%
May 6, 2026Q1 FY26	$0.09	$0.06	−33.3%	$46.0M	$44.9M	−2.4%	−5.00%
Mar 11, 2026Q4 FY25	$0.05	$0.06	+20.0%	$45.8M	$46.4M	+1.3%	−10.47%
Nov 5, 2025Q3 FY25	$0.05	$0.22	+340.0%	$45.8M	$48.0M	+4.7%	−3.07%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$49.0M	$48.9M	$48.0M	$46.4M	$44.9M	$44.2M
Gross profit	$36.4M	$35.0M	$34.4M	$31.6M	$31.0M	$13.6M
Operating income	$9.7M	$10.8M	$8.3M	$6.8M	$3.2M	−$3.5M
Net income	$13.7M	$3.2M	$8.2M	$2.0M	$2.3M	−$6.6M
Diluted EPS	$0.37	$0.10	$0.22	$0.06	$0.06	−$0.23
Gross margin	74.3%	71.6%	71.8%	68.0%	68.9%	30.8%
Operating margin	19.8%	22.0%	17.2%	14.7%	7.0%	-7.9%

Fiscal years (4-quarter sums)FY21 $139.4M · FY22 $165.0M · FY23 $185.4M · FY24 $197.2M · FY25 $192.2M

Revenue by product · Q2 FY26

Product Revenue$43.4M · 77%

Dietary Supplements$11.4M · 20%

Service Revenue$851.0K · 2%

Other Service Revenue$406.0K · 1%

Training Service Revenue$134.0K · 0%

Revenue by geography · Q2 FY26

United States$44.0M · 100%

Non-US$216.0K · 0%

Balance sheet, Jun 30, 2026Cash & short-term investments $11.2M · Total debt $128.6M · Total assets $101.7M · Shareholders' equity −$65.8M

Dividends

No dividends on record.

Ownership

Institutions 34.43%15.19M sharesInsiders 5.59%2.47M sharesOther 59.98%26.45M shares

Shares outstanding 44.11M · Float 40.14M · 91.0% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Roystone Management Holdings LLC	4.62M	14.00%	13D	Jun 12, 2025
Guines LLC · 10 percent owner	4.62M	10.48%	Form 4	May 8, 2025
325 Capital LLC	4.55M	10.31%	13F	May 15, 2026
Bandera Partners LLC	2.07M	6.40%	13G	May 13, 2026
Andrew R. Heyer · director	1.89M	4.29%	Form 4	Mar 19, 2025

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 11, 2026	Marc D. Beer	director, officer: Executive Chairman	+16,000	$1.55
Aug 10, 2026	Marc D. Beer	director, officer: Executive Chairman	+115,950	$1.53