biote Corp. (BTMD) FY2025 10-K Annual Report
biote Corp. (BTMD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 13, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
biote Corp. FY2025 10-K Analysis
Business Overview
- • Core business: hormone optimization training and Biote-branded dietary supplements sold to Biote-certified practitioners and partnered clinics
- • Strategic emphasis on managing risks related to outsourcing facilities that compound bioidentical hormones, including recent acquisition of Asteria Health (Mar 2024)
- • Geographic revenue concentration with 53% from TX, OK, NM, CO, AR, LA, MS, AL, GA, FL in FY 2025, highlighting regional regulatory sensitivity
- • Key operational risk: termination notice from AnazaoHealth for Pharmacy Services Agreement, extended through Dec 2027 per 2025 amendment
- • Growth-focused strategy may depress near-term profitability due to increased marketing, acquisitions and infrastructure scaling demands
Risk Factors
- • Regulatory risk from potential liability and recalls linked to compounded drug formulations via outsourcing facilities, posing reputational harm
- • Macroeconomic exposure from 2.5% revenue decline to $192.2M in 2025 due to slowdown in new clinic additions and procedure volumes
- • Operational risk relating to vertical integration of Asteria Health, impacting cost structure with a 19.0% decrease in pellet procedure costs
- • Market disruption from Amazon e-commerce channel growth boosting Biote-branded supplement revenue by $6.9M in 2025 as competitor distribution shifts
- • Legal/financial risk from $4.9M legal settlement expense in 2024 (Carie Boyd case), reduction improved 2025 SG&A expense by 5.2% to $101.8M
biote Corp. FY2025 Key Financial MetricsXBRL
Revenue
$192M
▼ -2.5% YoY
Net Income
$27M
▲ +756.7% YoY
Operating Margin
18.5%
▲ +246bp YoY
Net Margin
14.1%
▲ +1247bp YoY
ROE
-46.2%
▼ -4322bp YoY
Total Assets
$108M
▼ -12.1% YoY
EPS (Diluted)
$0.74
▲ +722.2% YoY
Operating Cash Flow
$35M
▼ -22.2% YoY
Source: XBRL data from biote Corp. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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