biote (BTMD) investor relations material

Executive summary

• Revenue for Q1 2026 declined 8.3% year-over-year to $44.9 million, primarily due to a voluntary product recall impacting procedure revenue and related supply constraints.

• Net income was $2.7 million, a significant decrease from $15.8 million in Q1 2025, with diluted EPS at $0.06 versus $0.37.

• Adjusted EBITDA was $8.7 million, down 36.6% year-over-year, with margin declining to 19.4%.

• The recall led to an estimated $1.7 million revenue impact and $1.5 million in incremental costs, affecting both sales and operational focus.

• Sales team expansion is nearing its targeted level, with over 25 new sales personnel hired and more than 200 new practitioners trained, supporting future growth.

Financial highlights

• Q1 2026 revenue: $44.9 million, down 8.3% year-over-year.

• Procedure revenue fell 13.2% to $31.3 million, impacted by the recall.

• Dietary supplement revenue grew 19.1% to $11.0 million, driven by e-commerce.

• Gross profit margin declined to 68.9% from 74.3%, mainly due to recall-related costs.

• Operating income dropped to $3.2 million from $9.7 million, reflecting lower sales and higher expenses.

Outlook and guidance

• 2026 revenue guidance remains above $190 million; adjusted EBITDA expected to exceed $38 million.

• Procedure revenue is forecasted to return to growth in the second half of 2026.

• Dietary supplement revenue projected to grow at a mid-to-high single-digit rate for the year.

• First half procedure revenue growth expected to be moderately lower than previously forecast due to ongoing recall impacts; Q2 expected to remain impacted.