Welcome to our dedicated page for Biote news (Ticker: $BTMD), a resource for investors and traders seeking the latest updates and insights on Biote stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Biote's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Biote's position in the market.
Biote reported solid financial performance in the first quarter of 2024, with revenue reaching $46.8 million, a 4.4% increase from the prior year. Procedure revenue grew by 6.6%, while the gross profit margin improved to 71.4%. The company reported a net loss of $(5.8) million, representing a net loss margin of (12.4)%. Adjusted EBITDA increased by 8.0% to $14.2 million. Biote reaffirmed its 2024 financial guidance, expecting revenue of $200-$204 million and Adjusted EBITDA of $60-$63 million.
Biote Corp. (NASDAQ: BTMD) has settled outstanding litigation with its founder, Dr. Gary S. Donovitz, by repurchasing all of his 18.4 million shares at $4.17 per share. The Settlement Agreement includes mutual claims release, termination of advisory agreement, non-compete and non-solicitation agreements, and a voting agreement. The company plans to repurchase shares over a three-year schedule for a total of approximately $76.9 million to enhance shareholder value.