biote (BTMD) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was $44.9 million, down 8.3% year-over-year, primarily due to a voluntary recall of hormone pellets and lower procedure volumes at established clinics.

• Net income for Q1 2026 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 for Q1 2026 was $8.7 million, down from $13.8 million in Q1 2025, with margin declining to 19.4%.

• Over 25 new sales personnel were hired, expanding the sales force to 120, and more than 200 new practitioners were trained, a 16.5% increase year-over-year.

• The company continues to focus on expanding its network of certified practitioners and growing dietary supplement sales.

Financial highlights

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

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

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

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

• Net income margin was 6.0%, down from 32.3% in the prior year.

Outlook and guidance

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

• Procedure revenue is forecasted to return to growth in the second half of 2026; dietary supplement revenue is expected to grow at a mid to high single-digit rate.

• First half procedure revenue growth is now expected to be moderately lower than previously forecast due to the recall.

• Management expects continued operational challenges from the recall but is executing plans to restore inventory and relieve supply constraints.

• Inflation, interest rates, and global economic volatility are being monitored, but no material impact is expected in the near term.