Biote Corp. Reports $47.96 Million Revenue in Q3 2025, Down 6.7% Year-Over-Year

Biote Corp. reported a total revenue of $47.96 million for the third quarter of 2025, a decrease of 6.7% compared to $51.38 million in the same period last year. The decline was primarily attributed to a $4 million drop in revenue from pellet procedures, which was influenced by a slowdown in new clinic additions and lower procedure volumes from existing clinics. Service revenue also fell by $0.6 million, largely due to decreased training revenue. However, the company saw a $0.9 million increase in revenue from Biote-branded dietary supplements, driven by heightened activity on its e-commerce platform, particularly with Amazon.

In terms of profitability, Biote reported a net income of $9.22 million for the quarter, down from $12.66 million in the prior year. The decrease in net income was accompanied by a reduction in operating income, which fell to $8.27 million from $12.18 million. The company's selling, general, and administrative expenses increased by 9.3% to $26.15 million, largely due to higher marketing costs associated with its annual marketing event and increased consulting fees. Interest expenses also decreased to $2.73 million, reflecting a lower principal balance on its term loan.

Biote's operational metrics showed a mixed performance. The company maintained a strong cash position with $28.05 million in cash and cash equivalents as of September 30, 2025, although this was a decrease from $39.34 million at the end of 2024. The company’s total liabilities decreased significantly to $176.79 million from $224.57 million, primarily due to a reduction in share repurchase liabilities. The company’s employee headcount was reduced by approximately 15 roles as part of an organizational restructuring aimed at improving financial performance.

Strategically, Biote has focused on vertical integration to enhance operational efficiency, exemplified by its acquisition of Asteria Health, a manufacturer of compounded bioidentical hormones, in March 2024. This acquisition is expected to strengthen the company's supply chain and reduce production costs. Additionally, Biote has extended its Pharmacy Services Agreement with AnazaoHealth through December 2027, ensuring continued access to necessary products for its clinics.

Looking ahead, Biote remains cautiously optimistic about its growth trajectory, despite the challenges posed by market conditions and competition. The company plans to continue expanding its network of Biote-certified practitioners and enhancing its product offerings, particularly in dietary supplements. Management anticipates that these efforts, combined with ongoing operational improvements, will position the company for future growth, although it acknowledges the potential impact of economic factors such as inflation and interest rates on its operations.