BTMD

biote Corp. (BTMD) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.03. This compares to earnings of $0.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -100.00%. A quarter ago, it was expected that this company would post earnings of $0.09 per share when it actually produced earnings of $0.06, delivering a surprise of -33.33%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. biote Corp., which belongs to the Zacks Medical - Products industry, posted revenues of $44.23 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 5.71%. This compares to year-ago revenues of $48.86 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. biote Corp. shares have lost about 12.7% since the beginning of the year versus the S&P 500's gain of 13%. While biote Corp. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for biote Corp. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.06 on $49.03 million in revenues for the coming quarter and $0.24 on $190.64 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Sanara MedTech Inc. (SMTI), is yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +108.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Sanara MedTech Inc.'s revenues are expected to be $29.4 million, up 13.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report biote Corp. (BTMD) : Free Stock Analysis Report Sanara MedTech Inc. (SMTI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Biote Corp (NASDAQ:BTMD) has successfully resolved the voluntary product recall and Asteria Health is now operating at normalized inventory and increased production levels with a second production shift. The company expects improved profitability in the second half of 2026 as it increases the supply of internally manufactured pellets, reducing reliance on higher-cost third-party suppliers. Dietary supplements revenue grew 5.7% in Q2 2026, driven by continued growth in the e-commerce channel, and is forecasted to grow at a mid to high single-digit rate for the full year. Management has strengthened the corporate culture, realigned the commercial team, and is implementing a data-driven, performance-oriented approach to drive sustainable growth. Biote Corp (NASDAQ:BTMD) is actively evaluating inorganic growth opportunities to expand its platform and accelerate strategic progress, complementing its organic growth initiatives. The company has resolved many outstanding legal matters, which is expected to reduce quarterly legal expenses going forward. Biote Corp (NASDAQ:BTMD) reported a 9.5% decrease in total revenue to $44.2 million in Q2 2026, with procedure revenue declining 13.9% to $30.3 million. The voluntary product recall negatively impacted Q2 results, with an estimated $3.3 million impact on procedure revenue and $0.6 million in incremental costs, leading to a gross margin decline to 65.4% from 71.6%. The company experienced elevated clinic attrition (around 8%) and slower productivity from new clinics, as the sales team was focused on supporting recall-impacted clinics. Biote Corp (NASDAQ:BTMD) revised its full-year 2026 guidance downward, now expecting revenue above $175 million and adjusted EBITDA above $25 million, compared to prior guidance of revenue above $190 million and adjusted EBITDA above $38 million. The company reported a net loss of $7.4 million and diluted loss per share of $0.23 in Q2 2026, compared to net income of $3.9 million and EPS of $0.10 in the prior year period. SG&A expenses increased significantly to $32.4 million from $24.2 million, driven by higher legal expenses, and cash flow used by operations was negative $1.2 million in the quarter. Warning! GuruFocus has detected 3 Warning Sign with BTMD. Is BTMD fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the strategy and ideal type of inorganic opportunities you are evaluating? Are they adjacent to your core business or more about consolidating the core?A: Bob Peterson, Interim CEO and CFO, stated that it is early to discuss specifics, but the company is evaluating opportunities that can support and strengthen its current platform. These opportunities would include capabilities to complement the core offering, adjacent products, and ways to enhance practitioner engagement and broaden their footprint within the space. Q: Regarding the Asteria recall, have you lost practitioners that are difficult to bring back, and are there any lingering effects or changes in strategy to consider?A: Bob Peterson, Interim CEO and CFO, noted that the Asteria brand remains strong and practitioners appreciated the company's actions. The company is in a solid place regarding inventory and stock, and they do not foresee challenges in shifting inventory back to Asteria. This shift is underway and should lead to gross margin improvement. Q: What led to the lower volume than expected compared to the last call, and what drove the elevated clinic attrition? What measures are you implementing in the second half to drive better retention?A: Bob Peterson, Interim CEO and CFO, explained that attrition remains at a high single-digit rate (~8%), with no material change. The recall and supply challenges hurt same-store sales and procedure volumes. For the second half, the focus is on strengthening clinic retention and enhancing the practitioner experience. Data shows that when reps visit accounts monthly and meet practitioners face-to-face, attrition improves, so the company is taking an activity-based, data-driven approach to improve sales productivity and new customer growth. Q: Do you have the right number of sales force now, or do you need to expand further?A: Bob Peterson, Interim CEO and CFO, confirmed that the company now has a full sales force. The key moving forward is driving activity and performance through the right processes and systems, rather than expanding headcount. Q: Regarding new clinic productivity being slower, is the issue delayed onboarding or lower utilization from new clinics? Does the guidance assume improvement in productivity in the second half?A: Bob Peterson, Interim CEO and CFO, stated that new clinics have not ramped as quickly as desired, primarily because the sales force was focused on supporting recall-impacted clinics in Q2. The guidance assumes sequential quarter-over-quarter improvements in procedure revenue in the second half, driven by the Phase 2 approach to salesforce productivity. Q: Supplement revenue remains strong despite procedure disruption. How do you see this business evolving, and what's driving its resilience?A: Bob Peterson, Interim CEO and CFO, attributed the resilience to strong adoption and penetration among existing clinicians. The clinical decision support software makes solid recommendations for nutraceuticals, and the products are highly complementary to the pellet procedures. The company expects dietary supplements revenue to grow at a mid to high single-digit rate for 2026. Q: What are you seeing that gives you confidence in the sequential improvement in procedure revenue for 3Q? Can you discuss July trends or the tail end of 2Q?A: Bob Peterson, Interim CEO and CFO, emphasized that the recall and supply challenges are behind them, with adequate supply restored. The company is driving accountability in the field, and data shows that the Asteria cohort declined during the supply shortage, while the non-Asteria cohort showed steady growth. With supply normalized and inventory built, the company has conviction it can grow sequentially in the second half of 2026. Q: Outside of the recall, are there any new factors, like competition, impacting your attrition number?A: Bob Peterson, Interim CEO and CFO, stated that competition is consistent with no up or down pressure on attrition, which has remained relatively flat. The key to improving attrition and same-store sales is getting supply back into the hands of practitioners and having reps in front of doctors, focusing on activity and performance in the second half. Q: SG&A was over $32 million in the quarter. Can you clarify the legal expenses and provide a normalized SG&A figure?A: Bob Peterson, Interim CEO and CFO, explained that the increase in legal expenses was due to the acceleration of several legal matters involving depositions and pre-litigation support. These matters have been settled and resolved positively, which will decrease expenses in the latter part of the year. The total adjusted impact of legal matters was around $6 million in the first half of the year, and these settlements will eliminate most material outstanding legal matters. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in biote Corp.? Here are five stocks we like better. Second-quarter performance weakened: Revenue fell 9.5% year over year to $44.2 million, while Biote posted a $7.4 million net loss. Procedure revenue declined 13.9%, largely due to a voluntary recall, pellet supply constraints and lower clinic volumes. Supply conditions are improving: Management said Asteria Health has normalized inventory and increased production, which should support sequential procedure-revenue and gross-margin improvement in the second half of 2026. Higher-cost third-party sourcing reduced gross margin to 65.4% from 71.6% a year earlier. Full-year guidance was cut: Biote now expects 2026 revenue above $175 million and adjusted EBITDA above $25 million, down from previous targets of $190 million and $38 million, respectively. The company is also prioritizing clinic retention, sales productivity and resolving elevated legal expenses. biote (NASDAQ:BTMD) reported lower second-quarter revenue and a net loss as a voluntary recall of certain hormone pellets supplied by Asteria Health disrupted procedure volumes, while management said supply conditions have since normalized and should support sequential improvement in the second half of 2026. Revenue for the quarter ended June 30 declined 9.5% year over year to $44.2 million. Procedure revenue fell 13.9% to $30.3 million, including an estimated $3.3 million impact from the recall. Dietary supplements revenue rose 5.7% to $11.4 million, driven primarily by continued growth in the company’s e-commerce channel. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “As we exited the second quarter with these challenges largely resolved, Asteria Health is once again operating at normalized inventory and increased production levels,” Interim Chief Executive Officer and Chief Financial Officer Bob Peterson said. He noted that Asteria added a second production shift and that the company expects profitability to improve as internally manufactured hormone-pellet supply increases in the second half. Peterson said procedure revenue was affected by lower volumes at existing clinics, procedure deferrals and pellet supply constraints associated with the recall. He also cited elevated clinic attrition and slower productivity at new clinics, as the sales force concentrated on supporting clinics affected by the recall. → 3 Drone Stocks That Should Soar After the Summer Slump Asteria supplied approximately 30% of Biote’s shipped pellets during the second quarter, similar to the first quarter but down from more than 50% in the fourth quarter of 2025. The company turned to higher-cost third-party pellet suppliers during the disruption, contributing to a decline in gross margin to 65.4% from 71.6% a year earlier. The margin decline also included $600,000 in incremental recall-related costs and reduced operating efficiency at Asteria. Peterson told analysts that the supply challenges are now behind the company and inventory levels have normalized. He said Biote expects its third-quarter product mix to improve as it reduces third-party sourcing, which should support gross-margin improvement over time. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure When asked whether the recall had created lasting damage to the Asteria brand, Peterson said the brand “remains quite strong” and that the company has not received significant resistance as it shifts inventory back toward Asteria-produced pellets. Biote posted a net loss of $7.4 million, or $0.23 per diluted share attributable to Biote corporate stockholders, compared with net income of $3.9 million, or $0.10 per diluted share, in the prior-year quarter. The second-quarter loss included an $800,000 loss from changes in the fair value of earn-out liabilities. Adjusted EBITDA declined to $5.6 million, representing an adjusted EBITDA margin of 12.6%. Cash used in operations was $1.2 million during the quarter. Cash and cash equivalents totaled $11.2 million as of June 30, up from $5.3 million at the end of the first quarter. Selling, general and administrative expenses increased to $32.4 million from $24.2 million a year earlier. Peterson said higher legal costs reflected accelerated activity on several legal matters, including depositions and pre-litigation support. He said many of those matters have now been settled or resolved, which Biote expects to reduce legal expenses later in the year. According to Peterson, the total adjusted impact of legal matters was approximately $6 million during the first half of 2026. He added that the settlements should eliminate “all material outstanding legal matters.” Biote reduced its 2026 outlook, now forecasting revenue above $175 million and adjusted EBITDA above $25 million. The company had previously projected revenue above $190 million and adjusted EBITDA above $38 million. Management expects procedure revenue to improve sequentially in both the third and fourth quarters, aided by more consistent supply and new-clinic growth. However, Peterson said procedure revenue is still expected to decline year over year in those periods, reflecting the first-half disruption and other near-term factors. The company maintained its expectation that dietary supplements revenue will grow at a mid- to high-single-digit rate for the full year. Peterson said the supplements business has remained resilient because of adoption and penetration among existing clinicians, as well as product recommendations generated through Biote’s clinical decision support software. Peterson said clinic attrition remains in the high single digits, at roughly 8%, with no material change from prior levels. He said the company’s next phase of operational work will focus on improving clinic retention, practitioner experience, sales-force productivity and the success rate of newly added clinics. Biote has completed what Peterson described as an initial phase centered on organizational structure, commercial-team expansion, operating processes, data and systems. The second phase will emphasize activity-based sales performance and accountability. “When we’re in accounts every month and in front of the practitioner, we don’t lose that account,” Peterson said, adding that the company will use a more data-driven approach to encourage field engagement with clinics. The company said it now has a full sales force and is focused on improving productivity rather than adding more personnel. Peterson also said competitive pressures have remained consistent and were not a new driver of attrition. Beyond organic initiatives, Biote is evaluating potential acquisitions or other inorganic opportunities. Peterson said the company is seeking opportunities that could broaden its market footprint, expand its reach and complement its core offerings, while emphasizing that organic growth remains the priority. biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "biote Q2 Earnings Call Highlights" was originally published by MarketBeat. 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IRVING, Texas, July 22, 2026--(BUSINESS WIRE)--biote Corp. (Nasdaq: BTMD) ("Biote" or the "Company"), a leader in innovative hormone optimization and healthy aging solutions that advance the healthspan of our Practitioners’ patients, today announced the Company will provide second quarter financial results on Wednesday, August 5, 2026, after the close of the market. A conference call to discuss the firm’s results will be held at 5:00 p.m. ET the same day. Conference Call Details The conference call may be accessed by dialing (646) 307-1963 (U.S. toll-free) or (800) 715-9871 (International) and referencing conference ID: 1792102. The live webcast of the call can be accessed using the following link: biote Corp. Second Quarter Earnings Call. A replay of the webcast will be available on the Events page of the Biote Investor Relations website, found here, shortly after the event concludes. About Biote Biote advances the healthspan of our Practitioners’ patients by providing innovative hormone optimization and healthy aging solutions. Through our network of Biote certified providers, we collaborate with leading clinicians to restore vitality and promote vibrant aging. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "may," "can," "should," "will," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "hope," "believe," "seek," "target," "continue," "could," "might," "ongoing," "potential," "predict," "would" and other similar expressions, are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: anticipated benefits and successful execution of our organizational restructuring; the success of our dietary supplements to attain significant market acceptance among clinics, practitioners and their patients; our customers’ reliance on certain third parties to support the manufacturing of bio-identical hormones for prescribers; our and our customers’ sensitivity to regulatory, economic, environmental and competitive conditions in certain geographic regions; our ability to increase the use by practitioners and clinics of the Biote Method at the rate that we anticipate or at all; our ability to grow our business; the significant competition we face in our industry; the impact of strategic acquisitions and the implementation of our growth strategies; our ability to protect our intellectual property; the heavy regulatory oversight in our industry; changes in applicable laws or regulations; changes to international tariffs, U.S. trade policy or similar government actions; geopolitical tensions; the inability to profitably expand in existing markets and into new markets; the possibility that we may be adversely impacted by other economic, business and/or competitive factors, including the impact of hurricanes and other natural disasters; and future exchange and interest rates. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and other risks and uncertainties described in the "Risk Factors" section of Biote’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission (the "SEC") on March 13, 2026, and other documents filed by Biote from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Biote assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Biote does not give any assurance that it will achieve its expectations. View source version on businesswire.com: https://www.businesswire.com/news/home/20260722951378/en/ Contacts Investor Relations: Eric ProutyAdvisIRy [email protected] Media: [email protected]

biote said a voluntary recall of certain bioidentical hormone pellets in January created a temporary supply disruption that cut Q1 revenue by an estimated $1.7 million, added about $1.5 million of incremental costs, distracted the salesforce and reduced procedure volumes. Revenue fell 8.3% year-over-year to $44.9 million (procedure revenue down 13.2% to $31.3M) while dietary supplement sales grew 19.1% to $11.0M; gross margin slipped to 68.9% and adjusted EBITDA declined to $8.7M with net income of $2.7M ($0.06 EPS). Management expects supply to normalize as Asteria adds shifts and third-party partners fill orders, has expanded the salesforce and trained 200+ practitioners, and has maintained 2026 guidance of revenue above $190M and adjusted EBITDA greater than $38M while anticipating procedure revenue to return to growth in H2. Interested in biote Corp.? Here are five stocks we like better. biote (NASDAQ:BTMD) executives said a voluntary recall of certain bioidentical hormone pellet inventory created a temporary but meaningful headwind in the company’s first quarter of 2026, impacting procedure revenue, margins, and salesforce productivity while management works to restore supply continuity through its Asteria Health manufacturing operation and third-party partners. Chief Executive Officer Bret Christensen said the company voluntarily withdrew certain bioidentical hormone pellet inventory from the market in January “out of an abundance of caution.” He said the temporary supply disruption reduced first-quarter revenue by an estimated $1.7 million and led to about $1.5 million of incremental costs. → The Real SpaceX Play: 5 Chip Stocks Powering the IPO Before It Launches Christensen added that the recall became “a significant distraction” for the salesforce because representatives were “forced to service accounts versus focusing on growth.” While the company expects the impacts to continue into the second quarter, Christensen said management views the issue as temporary and not reflective of long-term demand trends. Chief Financial Officer Bob Peterson reported revenue decreased 8.3% year over year to $44.9 million. Procedure revenue declined 13.2% to $31.3 million, including the $1.7 million recall-related impact tied to hormone pellets shipped by Asteria Health. → Tyson Foods' Total Returns: Tasty Treats for Income Investors? Peterson attributed the decline in procedure revenue primarily to lower procedure volume in existing clinics—“which includes the impact of hormone pellet supply constraints related to the recall”—as well as slower productivity from new clinics because sales representatives were focused on supporting recall-impacted clinics. Dietary supplement revenue increased 19.1% to $11.0 million, which Peterson said was “primarily driven by the continued growth of our e-commerce channel.” He said the company continues to forecast dietary supplement revenue growth at a mid-to-high single-digit rate for full-year 2026. → Berkshire Hathaway’s Record Cash Hoard: Why and What's Next? Gross profit margin fell to 68.9% from 74.3%, which Peterson said was primarily due to $1.1 million of incremental costs related to the recall. He also noted a product mix shift: Asteria Health produced about 30% of shipped pellets in the first quarter, down from more than 50% in the fourth quarter of 2025. Peterson said the company expects second-quarter product mix to continue to include an elevated level of third-party supply, which is expected to pressure gross margin. “Our goal remains to meet customer needs through the vertical integration of Asteria Health,” he said. Selling, general, and administrative expenses rose 4.1% to $27.8 million, driven by higher legal expense and $0.4 million of SG&A costs tied to the recall. Net income was $2.7 million, with diluted earnings per share attributed to Biote shareholders of $0.06, compared with net income of $15.8 million and diluted EPS of $0.37 in the prior-year quarter. Peterson said first-quarter 2026 net income included a $2.1 million gain from changes in the fair value of earn-out liabilities, versus a $10.7 million gain in the first quarter of 2025. Adjusted EBITDA decreased to $8.7 million, with an adjusted EBITDA margin of 19.4%, which Peterson attributed to “lower sales, reduced gross profit, and higher operating expenses.” Cash flow from operations was $3.9 million. As of March 31, 2026, the company had $5.3 million in cash and cash equivalents after fully repaying the remaining amount due under its share repurchase liabilities in January 2026. Christensen said Biote has made progress over the past 12 months in advancing strategic priorities, including strengthening its commercial organization, expanding the sales team, and focusing on maximizing value from “existing top-tier clinics.” He reiterated the company’s goal of expanding sales personnel from over 90 at the end of 2025 to about 120 in 2026, and said the effort is “substantially complete” after hiring more than 25 new sales personnel in the first quarter. He also said the company trained more than 200 new practitioners in the quarter, a 16.5% increase from the first quarter of 2025, with training sessions running “near full capacity.” Christensen described newly trained practitioners as a leading indicator of future procedures and dietary supplement sales, while noting that after training it typically takes about six months for new practitioners to contribute meaningfully to financial performance. In the question-and-answer session, Christensen said clinic attrition has “stabilized and been stable now for several quarters,” though he added it remains “a little bit higher than we’d like.” He said the supply constraints in the quarter made it difficult to assess improvement, but pointed to “some positive signs in daily volumes prior to the recall.” He told another analyst that he had not seen meaningful clinic attrition tied to the recall, though he said it was too early to assess whether there had been any patient attrition or modality switching. On the supply situation, Christensen said the recall covered product “compounded and manufactured prior to October of 2025,” and the process of returning and replacing product strained Asteria. He said Biote has worked to scale production, including adding a second shift, and has leaned on third-party pharmacy partners to help fulfill orders. Peterson added that the company has also slowed some shipments from Asteria intentionally to build safety stock, and said the second shift recently began, which he suggested would help address constraints in areas such as “filing and packaging.” Management said it remains in an allocation environment, but described conditions as improved versus earlier in the recall period and said normalization is expected in the coming weeks. Peterson said the company maintained its 2026 guidance, forecasting revenue above $190 million and adjusted EBITDA greater than $38 million. Procedure revenue is still expected to return to growth in the second half of 2026, though Peterson said the company now expects first-half procedure revenue growth to be “moderately lower than previously forecast” due to the recall and related supply constraints. Christensen said management’s confidence in a second-half return to growth is supported by several factors, including improving daily volume trends prior to the recall, potential pent-up demand following supply shortages, the expanded salesforce, and continued practitioner training volume. biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support. The article "biote Q1 Earnings Call Highlights" was originally published by MarketBeat.

Image source: The Motley Fool. Wednesday, May 6, 2026 at 5 p.m. ET Chief Executive Officer — Bret Christensen Chief Financial Officer — Bob Peterson Investor Relations — Szymon Serowiecki Operator: Good day, and welcome to the biote Corp. first quarter 2026 earnings conference call. All participants will be in listen-only mode. Please note this event is being recorded. I would now like to turn the conference over to Szymon Serowiecki, Investor Relations. Please go ahead. Szymon Serowiecki: Thank you for joining us today. This afternoon, biote Corp. published financial results for the first quarter ended 03/31/2026. This news release is available in the Investor Relations section of the company's website. Hosting today's call, Bret Christensen, Chief Executive Officer, and Bob Peterson, Chief Financial Officer. Before we get started, I would like to remind everyone that management may make statements during this call, including forward-looking statements regarding, among other things, the company's financial results, future performance, opportunities, business outlook, strategic plans, anticipated benefits, goals, future development, manufacturing and commercialization activities, its competitive position, and rigor across operations, benefits of its solutions, anticipated impacts of macroeconomic concerns on business results of operations, financial condition, and other matters that do not relate to historical facts. These statements are not guarantees of future performance and are subject to a variety of risks and uncertainties, some of which are beyond the company's control. Actual results could differ materially from expectations reflected in any forward-looking statements. These statements are based on management's current expectations as of today. biote Corp. undertakes no obligation to update them in the future. Therefore, these statements should not be relied upon as representing the company's views as of any subsequent date. For a discussion of risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and the Investor Relations section of our website, as well as risks and other important factors discussed in the earnings release. Management also refers to adjusted EBITDA and adjusted EBITDA margin, which are non-GAAP financial measures, to provide additional information to investors. A reconciliation of the non-GAAP to GAAP measures is provided in the earnings release, the primary differences being stock-based compensation, fair value adjustments to certain liabilities, and other non-operating expenses. Please refer to our first quarter 2026 earnings release for reconciliations of non-GAAP measures to the closest comparable GAAP measures. Now I will turn the call over to Bret Christensen. Bret Christensen: Thank you, and thank you all for joining us. Over the past 12 months, we have made important progress to advance our strategic priorities. We have strengthened our commercial organization, expanded our sales team, and enhanced our capabilities to better support practitioners and their patients. We have also sharpened our focus on maximizing value from our existing top-tier clinics, which remain important contributors to our long-term financial performance. Through these strategic and operational initiatives, we have built a solid foundation that we believe supports sustainable, long-term profitable growth. As previously communicated, in January, biote Corp. voluntarily withdrew certain bioidentical hormone pellet inventory from the market. We initiated this recall out of an abundance of caution. This temporary supply disruption created a headwind to our first quarter performance, resulting in an estimated $1.7 million revenue impact and approximately $1.5 million of incremental costs incurred due to the voluntary recall. We are addressing the supply challenge as efficiently as possible. To mitigate the impact on our practitioners and their patients, we are increasing inventory levels to ensure continuity of care throughout our network. The recall affected our first quarter results and was a significant distraction to our sales force and their growth objectives, as they were forced to service accounts versus focusing on growth. The impacts are expected to continue into the second quarter. We believe this is a temporary issue and it does not affect our long-term strategy or alter the overall demand environment. We continue to see a sizable market opportunity across hormone therapy and therapeutic wellness, and we remain focused on building sustainable revenue growth. In our last call, I noted that one of our top priorities in 2026 was to expand our sales personnel from over 90 at the end of 2025 to approximately 120 this year. I am pleased to report that we are substantially complete with this effort. With over 25 new sales personnel hired in the first quarter, we have expanded and strengthened our commercial capabilities and are ready for the future. Despite the distraction caused by the voluntary recall, our commercial team is already beginning to deliver a higher level of service to existing accounts while utilizing our increased sales capacity to grow and scale our practitioner network. In the first quarter, we trained more than 200 new practitioners, representing a 16.5% increase from 2025. For our top clinics, we have introduced a series of measures aimed at improving retention and supporting stronger lifetime revenue outcomes. We are enhancing our commercial framework to reinforce the value proposition biote Corp. can offer to our leading practitioners. New practitioner training sessions remain at near full capacity, underscoring continued practitioner interest in our bioidentical hormone optimization and healthy aging solution offerings. Because the number of newly trained practitioners is a leading indicator of future procedures and dietary supplement sales, this high level of engagement further strengthens our belief that we are on the right path to restore revenue growth. As a reminder, once a practitioner is fully trained, it typically takes about six months for that new practitioner to begin to contribute meaningfully to our financial performance. As we continue to invest in our commercial team, one of our key objectives is to elevate the quality of our sales pipeline. Over the past several months, we have seen clear evidence of progress, with higher value OBGYN and general practitioners representing a growing share of our pipeline. This reflects a more disciplined qualification process as well as our focus on recruiting practitioners with greater long-term revenue contribution potential. We believe our efforts to enhance our sales pipeline should translate into more predictable performance as we increasingly support practitioners whose clinical specialty is more closely aligned with our suite of product offerings. In summary, while our first quarter performance fell short of our expectations due to the voluntary product recall, we continued to move forward on key initiatives that support our long-term strategy. I am confident that our strategic investments and actions are expected to strengthen our capabilities and lay the groundwork for what we anticipate to be a return to growth in the second half of the year. I will now turn the call over to Bob Peterson to review the first quarter results. Bob Peterson: Thank you, Bret, and good afternoon, everyone. Unless otherwise noted, all quarterly financial comparisons in my prepared remarks are made against 2025. Revenue decreased 8.3% to $44.9 million, with procedure revenue declining 13.2% to $31.3 million, which included a $1.7 million impact related to the voluntary recall of certain hormone pellets shipped by Asteria Health. Procedure revenue was primarily impacted by the following factors: one, lower procedure volume in existing clinics, which includes the impact of hormone pellet supply constraints related to the recall; and two, slower productivity from new clinics as our sales reps focused on supporting recall-impacted clinics. Dietary supplement revenue grew 19.1% to $11 million. The increase was primarily driven by the continued growth of our e-commerce channel. Overall, we continue to forecast our dietary supplement revenue will grow at a mid- to high-single-digit rate for 2026. Gross profit margin was 68.9% compared to 74.3%. The decrease was primarily due to $1.1 million of incremental cost related to the recall. In the first quarter, Asteria Health produced approximately 30% of our shipped pellets, as compared to over 50% in 2025. As Bret noted, we anticipate fully restoring Asteria Health supply continuity by the end of the second quarter. As a result, we expect our second-quarter product mix will continue to include an elevated level of third-party supply, which will impact second-quarter gross margin. Our goal remains to meet customer needs through the vertical integration of Asteria Health. Selling, general, and administrative expenses increased 4.1% to $27.8 million. The increase reflected higher legal expense and $0.4 million of SG&A costs associated with the product recall. Net income was $2.7 million and diluted earnings per share attributed to biote Corp. shareholders was $0.06. This compares to net income of $15.8 million and diluted earnings per share attributed to biote Corp. stockholders of $0.37. Net income for 2026 included a gain of $2.1 million due to changes in the fair value of the earn-out liabilities. By comparison, net income for 2025 included a gain of $10.7 million due to changes in the fair value of the earn-out liabilities. Adjusted EBITDA decreased to $8.7 million, with an adjusted EBITDA margin of 19.4% due to lower sales, reduced gross profit, and higher operating expenses. Cash flow from operations in the first quarter was $3.9 million. As of 03/31/2026, cash and cash equivalents were $5.3 million, as biote Corp. fully repaid the remaining amount due under its share repurchase liabilities in January 2026. Now turning to our financial outlook for 2026. We maintain our guidance, forecasting 2026 revenue above $190 million and 2026 adjusted EBITDA of greater than $38 million. With respect to our 2026 revenue outlook, procedure revenue is expected to return to growth in 2026, unchanged from our prior guidance. Based on current trends, we now expect first-half procedure revenue growth to be moderately lower than previously forecast due to the temporary impact of the voluntary product recall and related supply constraints. Dietary supplement revenue is expected to grow at a mid- to high-single-digit rate from 2025. I will now turn the call back to Bret for his closing comments. Bret Christensen: Thanks, Bob. As we continue to address temporary impacts from the recall, we remain focused on the priorities that will strengthen our business for the long term. Our continued investments in commercial talent, technology, and practitioner support are creating a stronger platform for future execution. With this foundation in place, I believe biote Corp. is well positioned to better serve our practitioners, improve our financial performance, and create value for our shareholders. Operator, let us now open the call for questions. Operator: We will now open the call for questions. If you are using a speakerphone, please pick up your handset before pressing the keys. The first question today comes from an analyst with Truist Securities. Please go ahead. Jeevan: Hey, this is Jeevan on for Les. Thanks for taking our questions. How did the clinic attrition trend in the first quarter as the recent hires ramp up, and are you seeing some stabilization here if you normalize for the voluntary recall? Bret Christensen: Yes, hey, Jeevan, thanks for the question. Attrition for us has stabilized and been stable now for several quarters. It is still a little bit higher than we would like to see, and with the disruption that we had in Q1 due to supply constraints from the recall, it is hard to draw any conclusions of really any improvement there yet. We did see, however, some positive signs in daily volumes prior to the recall, which is where we get the $1.7 million impact of the recall that we quoted in the earlier comments. So there were some things to be encouraged by, and then supply constraints really put a damper on that. As far as the sales force and sales force expansion, that expansion is new in Q1, going to 120 reps. They were fairly distracted in Q1 with supply constraints, but we have every belief that they are going to get back to growing the business now, as we are just weeks away from completely normalizing inventory levels and getting that team back to growth. We should see the impact of that team starting in Q2. Operator: The next question comes from Jeff Van Sinderen with B. Riley Securities. Please go ahead. Jeff Van Sinderen: Hi, everyone. Just wanted to understand a little bit more about the supply constraints. I guess I am confused by the recall still having an impact in Q2 and why we would still have supply constraints at this point. I would think that Asteria would recover a little more quickly. Maybe you can just talk a little bit about that. Also, you had a shortfall in Q1 and you sort of guided down for Q2 in your language, as I took it, but you kept the year guidance unchanged. What gives you confidence that the second half will be even better than what was previously implied in guidance? And then just thinking about some of the doctors who could not get the supply that they needed and were on allocation in Q1 and maybe a little bit in Q2, was there anything preventing them from sourcing the pellets elsewhere? Bret Christensen: Yes, Jeff, I will start with that and then Bob can add some color. If you remember, we announced the recall in January and then began notifying our customers. That was done out of an abundance of caution for product that was compounded and manufactured prior to October 2025. There was a lot of product that needed to come back and be replaced by Asteria and by some of our third-party partners who were helping with fulfillment. It put a lot of strain on Asteria. We have done a tremendous amount to scale production at Asteria, including adding a second shift and asking that team to work very hard to catch up on supply, but it has been an ongoing struggle. The disruption really comes from two things: having to allocate inventory to our customers, meaning giving them less than what they ordered in some cases, which meant rescheduling patients and creating uncertainty in the field; and the distraction to the field as we asked them to manage that message and, in some cases, those orders to help us prioritize who should get inventory and when. All of that ate into our safety stock at Asteria, and we are in the process of building that back up now, but it has taken longer than we would like. We have asked for help from our third-party pharmacy partners to fulfill orders. We are probably just weeks away from a more normalized situation. It is better today than it was in February and March. On guidance, we believe this is a temporary headwind to demand because of the inventory constraints. We saw positive signs in daily volumes going into the recall, which is how we extrapolated the $1.7 million top-line impact. There is also some pent-up demand from these supply shortages that we expect to recapture in the coming weeks and months. Our team of 120 territory reps is new and really did not have a chance to contribute to those positive signs pre-recall, so we are optimistic they will drive growth once they are not distracted by inventory issues. We have had full training classes for about six months, which is the earliest indication of production in the field returning to growth. We trained more than 200 practitioners in Q1, and they typically begin contributing meaningfully after about six months. That supports our confidence in a second-half return to growth. As for sourcing elsewhere, not really. The entire industry has been stretched for pellet production, and the best partners out there are partners of ours. We quickly reached out to them and asked for help supplying product to our customers, which is why the Asteria mix went down in Q1. That is a temporary drag on gross margin, but those were the most readily available pellets. We have strained some of our third-party suppliers because of the demand we sent their way. There are not many other places physicians can go. It is difficult, particularly because more than 80% of our patients are women and the hardest pellets to produce are estrogen and estradiol pellets. They are very manual and cannot be produced at scale in the way testosterone pellets can. That was the main drag on supply, and that challenge is shared by many pharmacies. We are in a good spot today, thanks to our third-party pharmacies and Asteria’s quick work to scale a second shift, and we think we are in good shape going forward. Bob Peterson: The biggest thing I would add is that we are maximizing production to build safety stock. We intentionally slowed some of the pellets going out from Asteria so that Asteria could build inventory. One of the biggest steps we took to build inventory even quicker is the establishment of a second production shift. This will enable us to maximize our production, prepare for future growth, and increase our stock levels. We intend to return to expanding our vertical penetration in the remainder of the year once we have line of sight, in the next several weeks, to safety stock at a solid level. Operator: The next question comes from George Kelly with ROTH Capital Partners. Please go ahead. George Kelly: Hey, everyone. Thanks for taking my questions. First, back to the recall, I was curious if you saw much clinic attrition as a result. And with your current status and your inventory build—your catch-up—where are you in that process? You mentioned you feel like you are in a good spot now; is there still a lot of catch-up that needs to happen? Also, what have you seen in April? The press release commented that there is continued pressure, so any detail you can give about procedure volume in April would be helpful. Bret Christensen: Thanks, George. On attrition, not really. At this point it would be anecdotal anyway, but we have not seen much clinic attrition. We clearly saw a reduction in procedure volumes in the field. It remains to be seen if there was any patient attrition—patients switching modalities, etc. We think there is pent-up demand that we will capture in the coming weeks and months. Regarding inventory, we said the impact would persist into Q2, but we are weeks away from a fully normal situation, which is tremendous progress. We are intentionally taking it easy on Asteria to allow them to build safety stock because we want to get to another two months or so of safety stock. We will continue to use our third-party partners to allow that to happen, and we will use them going forward as well. They have been fantastic. Anecdotally, if it is not going well, we hear it, and the consensus is things are much better today than weeks and months ago. Our customers are feeling it too. We are not completely out of the woods because we are still allocating—holding some customers to two or three weeks of inventory when they are used to having two-plus months. That affects their confidence in scheduling cases, but we will get there shortly. Bob Peterson: On Asteria, it takes time in a regulated environment to get a second shift up and running. Those steps started about a month to a month and a half ago. We have just recently started that second shift. Even before that, the shop at Asteria was working around the clock to maximize production, but the second shift now removes constraints around filling and packaging some of the smaller items. In the next couple of weeks, we should be in a solid position primarily because of the second shift. In about a month—maybe a little longer—we should be ahead of our safety stock levels so we can regain traction from a vertical integration perspective at Asteria and start ramping back up to where we once were. Operator: This concludes our question and answer session. I would like to turn the conference back over to Bret Christensen for any closing remarks. Bret Christensen: I want to thank everyone for joining us today. We appreciate your interest in biote Corp. and look forward to speaking with you on our next conference call. Thanks, everyone. Operator: The conference has now concluded. Thank you for attending today's presentation. You may now disconnect. Before you buy stock in Biote, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Biote wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Biote (BTMD) Q1 2026 Earnings Call Transcript was originally published by The Motley Fool

biote Corp. (BTMD) came out with quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.06, delivering a surprise of +20%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. biote Corp., which belongs to the Zacks Medical - Products industry, posted revenues of $44.94 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 2.71%. This compares to year-ago revenues of $48.99 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. biote Corp. shares have lost about 15% since the beginning of the year versus the S&P 500's gain of 6%. While biote Corp. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for biote Corp. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.13 on $47.66 million in revenues for the coming quarter and $0.32 on $190.84 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Sanuwave Health Inc. (SNWV), is yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +92.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Sanuwave Health Inc.'s revenues are expected to be $9.63 million, up 3.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report biote Corp. (BTMD) : Free Stock Analysis Report Sanuwave Health Inc. (SNWV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Sales team expansion on track and nearing targeted level Return to procedure growth expected in second half of 2026 First Quarter 2026 Financial Highlights Revenue of $44.9 million Gross profit margin of 68.9% Net income of $2.7 million and diluted earnings per share attributable to biote Corp. stockholders of $0.06, compared to net income of $15.8 million and diluted earnings per share attributable to biote Corp. stockholders of $0.37 in the first quarter of 2025 Adjusted EBITDA1 of $8.7 million and Adjusted EBITDA margin1 of 19.4% IRVING, Texas, May 06, 2026--(BUSINESS WIRE)--Biote (NASDAQ: BTMD), a leader in innovative hormone optimization and healthy aging solutions that advance the healthspan of our practitioners’ patients, today announced financial results for the first quarter ended March 31, 2026. "During the first quarter of 2026, we continued to advance our strategic priorities and remained focused on our key objective of restoring sustainable procedure revenue growth," said Bret Christensen, Biote’s Chief Executive Officer. "Leading indicators of future performance, including the number of newly trained practitioners and new clinic growth, are moving in the right direction, reinforcing our conviction in our strategic initiatives. We remain committed to investing in our commercial organization, and I am pleased to report we are nearing our stated goal of approximately 120 sales representatives." Mr. Christensen continued, "First quarter financial results were impacted by supply constraints related to the voluntary recall of certain hormone pellet products. We are increasing inventory levels to ensure continuity of care throughout our clinic network. We continue to emphasize consistent operational execution, supporting our growing network of practitioners and positioning the company for durable, long-term growth." 2026 First Quarter Financial Review (All financial result comparisons made are against the prior-year period unless otherwise noted) Total revenue was $44.9 million, a decrease of 8.3% from $49.0 million. Procedure revenue declined 13.2% to $31.3 million, and was impacted by the voluntary recall of certain hormone pellets shipped by Asteria Health. Dietary supplements revenue grew 19.1% to $11.0 million. Gross profit margin was 68.9%, as compared to 74.3%, as a result of impacts from the voluntary recall, which included the sourcing of replacement products from our third-party pellet suppliers at higher costs and reduced manufacturing efficiencies at Asteria Health. Operating income declined to $3.2 million, from $9.7 million. Operating income decreased due to lower sales and gross profit, as well as higher operating expenses. Net income was $2.7 million and diluted earnings per share attributable to biote Corp. stockholders was $0.06, as compared to net income of $15.8 million and diluted earnings per share attributable to biote Corp. stockholders of $0.37. Net income included a gain of $2.1 million and $10.7 million for the first quarter of 2026 and 2025, respectively, due to changes in the fair value of the earnout liabilities. Adjusted EBITDA of $8.7 million decreased 36.6% from $13.8 million, while Adjusted EBITDA margin declined to 19.4% from 28.1%. Both Adjusted EBITDA and Adjusted EBITDA margin decreased from the prior year quarter due to lower sales, reduced gross profit and higher operating expenses. Summary and 2026 Financial Outlook Mr. Christensen concluded, "I am pleased with the progress and structural improvements we have achieved as an organization over the trailing twelve months. Although we expect to continue to experience headwinds in the second quarter from our voluntary product recall, I believe our strategic actions and investments are laying the groundwork for improved financial performance as the year progresses. As we expect our commercial investments to begin to translate into productivity gains, we continue to anticipate a return to procedure revenue growth in the second half of the year, consistent with our 2026 guidance provided in March." Procedure revenue is expected to return to growth in the second half of 2026, unchanged from prior guidance. Based on current trends, we now expect first half procedure revenue growth to be moderately lower than previously forecast due to the temporary impact of the voluntary product recall and related supply constraints. 2026 Dietary supplements revenue is expected to grow at a mid to high single digit rate from 2025, unchanged from prior guidance. _____________________________ 2 Please see "Forward-Looking Non-GAAP Financial Measures" below for additional information about forward-looking Adjusted EBITDA. Conference Call: Biote management will host a conference call to review these results and provide a business update beginning at 5:00 p.m. ET on Wednesday, May 6, 2026. To access the conference call by telephone, please dial (844) 481-2820 (U.S toll-free) or (412) 317-0679 (International). To access a live webcast of the call, interested parties may use the following link: biote Corp. First Quarter Earnings Call. A replay of the webcast will be available on the Events page of the Biote Investor Relations website, at ir.biote.com, shortly after the event concludes. Discussion of Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, Biote has disclosed Adjusted EBITDA, a non-GAAP financial measure that it calculates as net income before interest, taxes and depreciation and amortization, further adjusted to exclude stock-based compensation, litigation expenses, legal settlements, inventory fair value write-up, transaction-related expenses, restructuring-related expenses, certain other expenses, merger and acquisition expenses, fair value adjustments to certain equity instruments classified as liabilities and other expenses. Below we have provided a reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP financial measure. We present Adjusted EBITDA and Adjusted EBITDA margin because it is a key measure used by our management to evaluate our operating performance, generate future operating plans and determine payments under compensation programs. Accordingly, we believe that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management. Adjusted EBITDA and Adjusted EBITDA margin have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are as follows: Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA and Adjusted EBITDA margin do not reflect cash capital expenditure requirements for such replacements of our assets; Adjusted EBITDA and Adjusted EBITDA margin do not reflect changes in, or cash requirements for, our working capital needs; and Adjusted EBITDA and Adjusted EBITDA margin do not reflect tax payments that may represent a reduction in cash available to us. In addition, Adjusted EBITDA and Adjusted EBITDA margin are subject to inherent limitations as it reflects the exercise of judgment by Biote’s management about which expenses are excluded or included. A reconciliation is provided in the financial statement tables included below in this press release for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Because of these limitations, you should consider Adjusted EBITDA and Adjusted EBITDA margin alongside other financial performance measures, including net income and our other GAAP results. Forward-Looking Non-GAAP Financial Measures The Company does not provide a reconciliation of forward-looking non-GAAP financial measures to their comparable GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of certain information needed to calculate reconciling items. For example, the Company has not included a reconciliation of projected Adjusted EBITDA to GAAP net income (loss), which is the most directly comparable GAAP measure, for the periods presented in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company’s projected Adjusted EBITDA excludes certain items that are inherently uncertain and difficult to predict including, but not limited to, share-based compensation expense, income taxes, due diligence expenses and legal expenses. Due to the variability, complexity and limited visibility of the adjusting items that would be excluded from projected Adjusted EBITDA in future periods, management does not forecast them for internal use and therefore cannot create a quantitative projected Adjusted EBITDA to GAAP net income (loss) reconciliation for the periods presented without unreasonable efforts. A quantitative reconciliation of projected Adjusted EBITDA to GAAP net income (loss) for the periods presented would imply a degree of precision and certainty as to these future items that does not exist and could be confusing to investors. From a qualitative perspective, it is anticipated that the differences between projected Adjusted EBITDA to GAAP net income (loss) for the periods presented will consist of items similar to those described in the financial tables later in this release, including, for example and without limitation, share-based compensation expense, income taxes, due diligence expenses and legal expenses. The timing and amount of any of these excluded items could significantly impact the Company’s GAAP net income (loss) for a particular period. When planning, forecasting and analyzing future periods, the Company does so primarily on a non-GAAP basis without preparing a GAAP analysis. About Biote Biote advances the healthspan of our Practitioners’ patients by providing innovative hormone optimization and healthy aging solutions. Through our network of Biote certified providers, we collaborate with leading clinicians to restore vitality and promote vibrant aging. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "may," "can," "should," "will," "outlook," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "hope," "believe," "seek," "target," "continue," "could," "might," "ongoing," "potential," "predict," "would" and other similar expressions, are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: our investment in our sales and technology capabilities and its anticipated benefits on our business; anticipated benefits and successful execution of our organizational restructuring; the success of our dietary supplements to attain significant market acceptance among clinics, practitioners and their patients; our ability and the ability of certain third parties to effectively support the manufacturing of bio-identical hormones for prescribers; our and our customers’ sensitivity to regulatory, economic, environmental and competitive conditions in certain geographic regions; our ability to increase the use by practitioners and clinics of the Biote Method at the rate that we anticipate or at all; our ability to grow our business; the significant competition we face in our industry; the impact of strategic acquisitions and the implementation of our growth strategies; our ability to protect our intellectual property; the heavy regulatory oversight in our industry; changes in applicable laws or regulations; changes to international tariffs, U.S. trade policy or similar government actions; geopolitical tensions; the inability to profitably expand in existing markets and into new markets; the possibility that we may be adversely impacted by other economic, business and/or competitive factors, including the impact of hurricane and other natural disasters; and future exchange and interest rates. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and other risks and uncertainties described in the "Risk Factors" section of Biote’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission (the "SEC") on March 13, 2026, and other documents filed by Biote from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Biote assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Biote does not give any assurance that it will achieve its expectations. Financial Tables View source version on businesswire.com: https://www.businesswire.com/news/home/20260506933996/en/ Contacts Investor Relations: Eric Prouty AdvisIRy Partners [email protected] Media: [email protected]

Performance was primarily impacted by a voluntary recall of bio-identical hormone pellet inventory initiated in January, which created a $1.7 million revenue headwind. The recall acted as a significant operational distraction, forcing the sales force to focus on account servicing and inventory allocation rather than new growth initiatives. Management successfully expanded the sales team to approximately 120 personnel, completing a key 2026 strategic objective to increase commercial capacity. A more disciplined qualification process is shifting the sales pipeline toward higher-value OB/GYN and general practitioners to improve long-term revenue predictability. New practitioner training reached near-full capacity with over 200 trained in Q1, which management views as a leading indicator for future procedure volume. Vertical integration at Asteria Health was temporarily throttled, with the facility producing only 30% of shipped pellets in Q1 compared to over 50% in the prior quarter. Management maintains full-year 2026 guidance, expecting revenue above $190 million based on an anticipated return to growth in the second half of the year. Supply continuity at Asteria Health is expected to be fully restored by the end of the second quarter through the implementation of a second production shift. Procedure revenue growth for the first half of 2026 is now expected to be moderately lower than previously forecast due to lingering recall effects. The 200+ practitioners trained in Q1 are expected to begin contributing meaningfully to financial performance following a typical six-month onboarding ramp. Gross margins are expected to remain under pressure in Q2 due to an elevated mix of higher-cost third-party supply while Asteria builds safety stock. The voluntary recall resulted in approximately $1.5 million of incremental costs, including $1.1 million impacting gross profit and $0.4 million in SG&A. Cash and cash equivalents decreased to $5.3 million following the full repayment of share repurchase liabilities in January 2026. Inventory allocation measures currently limit customers to two or three weeks of supply, which may continue to impact practitioner scheduling confidence in the near term. Net income was impacted by a $2.1 million gain from the change in fair value of earn-out liabilities, significantly lower than the $10.7 million gain in the prior year period. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management stated attrition has stabilized over several quarters but remains slightly higher than desired. Positive daily volume trends were observed immediately prior to the recall, suggesting underlying demand remains healthy despite the supply disruption. Confidence is driven by the belief that the headwind is a temporary supply issue rather than a shift in market demand. Management expects to capture pent-up demand in the coming months as inventory levels normalize and the expanded sales force begins to contribute. Estrogen estradiol pellets are particularly difficult to produce because the process is highly manual and cannot be scaled as easily as testosterone pellets. Biote utilized third-party pharmacy partners to maintain patient care, which strained broader industry supply but helped mitigate the impact on Biote's network. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.