biote (BTMD) investor relations material

Executive summary

• Significant progress made on foundational initiatives for growth, including strengthening corporate culture, realigning the commercial team, and investing in technology and operational improvements.

• Revenue for Q2 2026 was $44.2 million, down 9.5% year-over-year, primarily due to a voluntary product recall impacting procedure revenue and gross margin.

• Net loss was $7.4 million, or $0.23 per diluted share, compared to net income of $3.9 million and $0.10 per share in Q2 2025.

• Adjusted EBITDA was $5.6 million (12.6% margin), down from $15.2 million and 31.1% margin in Q2 2025.

• Dietary supplements revenue grew 5.7% to $11.4 million, partially offsetting the decline in procedure revenue.

Financial highlights

• Revenue decreased 9.5% year-over-year to $44.2 million for Q2 2026.

• Procedure revenue declined 13.9% to $30.3 million, with a $3.3 million impact from the product recall.

• Gross margin fell to 65.4% from 71.6%, mainly due to recall-related costs and higher third-party sourcing.

• SG&A expenses rose to $32.4 million from $24.2 million, reflecting higher legal expenses.

• Operating loss was $3.5 million, down from operating income of $10.8 million in Q2 2025.

Outlook and guidance

• Procedure revenue expected to improve sequentially in Q3 and Q4, but year-over-year growth delayed due to first-half disruption.

• Full-year 2026 revenue now estimated above $175 million and adjusted EBITDA above $25 million, revised down from prior guidance of $190 million and $38 million, respectively.

• Dietary supplements revenue projected to grow at a mid to high single-digit rate for 2026.