Short answer
biote Corp. (BTMD) filed its fiscal 2025 10-K annual report with the SEC on Mar 13, 2026. It reported revenue of $192M (−2.5% year over year) and net income of $27M.
- Top risk flagged: Regulatory risk from potential liability and recalls linked to compounded drug formulations via outsourcing facilities, posing reputational harm
FY2025 key financial metrics · XBRL
- Revenue
- $192M
- −2.5% YoY
- Net income
- $27M
- +756.7% YoY
- Operating margin
- 18.5%
- +2.5 pp YoY
- EPS (diluted)
- $0.74
- +722.2% YoY
- ROE
- -46.2%
- −43.2 pp YoY
- Operating cash flow
- $35M
- −22.2% YoY
Source: XBRL data from the biote Corp. (BTMD) FY2025 10-K on SEC EDGAR. USD.
biote Corp. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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