Biote Corp. reported a decline in financial performance for the first quarter of 2026, with total revenue of $44.9 million, down 8.3% from $49.0 million in the same period last year. The decrease was primarily driven by a $4.7 million drop in revenue from pellet procedures, attributed to lower procedure volumes at established clinics and reduced productivity at newer clinics. This decline was exacerbated by a voluntary recall of hormone pellets, which the company estimated negatively impacted revenue growth by approximately $1.7 million. Service revenue also fell to $1.0 million from $2.0 million, largely due to decreased technology fees from physician orders.

The company's net income for the quarter was $2.7 million, a significant decrease from $15.8 million in the prior year, reflecting a decline in operational efficiency and increased costs. Selling, general, and administrative expenses rose to $27.8 million, up 4.1% from $26.7 million, primarily due to increased legal-related expenses. The cost of revenue increased by 10.9% to $14.0 million, driven by higher costs associated with sourcing bioidentical hormone pellets from third-party facilities due to inventory constraints.

In terms of operational metrics, Biote's cash and cash equivalents decreased to $5.3 million from $24.1 million at the end of 2025. The company also repurchased 726,388 shares of its Class A common stock for $1.1 million during the quarter, as part of its ongoing share repurchase program, which has approximately $10.0 million remaining for future repurchases. The total liabilities decreased to $137.0 million from $158.0 million, reflecting a reduction in share repurchase liabilities.

Looking ahead, Biote is focused on expanding its network of certified practitioners and enhancing its product offerings, particularly in dietary supplements, which saw a revenue increase of $1.8 million compared to the previous year. The company is also working to address the impacts of the voluntary recall and improve inventory levels. Despite the challenges faced in the first quarter, management remains optimistic about future growth opportunities and the potential for recovery in revenue as operational adjustments are implemented.

About biote Corp.

Biote Corp. provides a practice-building platform for healthcare practitioners specializing in hormone optimization, primarily through education, certification, practice management software, and proprietary clinical tools. It offers bioidentical hormone therapies, including pellets and topical formulations, along with a line of dietary supplements targeting aging populations. Serving a large, growing market, the company emphasizes practitioner training, brand recognition, and a scalable, fee-based revenue model.

This description was generated via AI from an annual report. Updated 8 months ago.

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