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Biote Corp (BTMD) operates a specialized practice-building business within the rapidly growing hormone optimization and personalized medicine space. The company provides healthcare practitioners with the tools, training, and support necessary to implement customized hormone optimization programs for their patients. By focusing on a turnkey ecosystem, Biote enables practitioners to seamlessly integrate hormone therapies into their practices, addressing the increasing demand for preventive and wellness-focused healthcare solutions.
Core Business Model
At its core, Biote empowers certified practitioners with a comprehensive suite of resources to establish and grow their hormone optimization practices. This includes access to proprietary diagnostic tools, treatment protocols, and bioidentical hormone products designed to optimize hormone levels in patients. Additionally, Biote offers extensive training programs, marketing support, and ongoing practitioner education, ensuring that its certified network can deliver high-quality and consistent care.
Market Position and Value Proposition
Biote operates within the broader healthcare and wellness industry, specifically targeting the hormone optimization segment. This market is driven by increasing awareness of the role hormones play in overall health, particularly among aging populations and individuals seeking preventive care. Biote's unique value proposition lies in its ability to provide a fully integrated solution that combines science-backed therapies with practitioner support. By doing so, the company not only enhances patient outcomes but also enables practitioners to diversify and grow their revenue streams.
Competitive Landscape
Within the hormone optimization space, Biote faces competition from pharmaceutical companies offering synthetic hormone therapies, as well as other providers of natural or bioidentical hormone solutions. However, Biote differentiates itself through its practice-building approach, which goes beyond simply supplying products. By offering training, certification, and ongoing support, Biote creates a network of practitioners who are equipped to deliver consistent, high-quality care. This ecosystem approach builds trust among patients and practitioners alike, fostering long-term relationships.
Industry Dynamics
The hormone optimization market is influenced by several key trends, including the aging population, increasing focus on preventive healthcare, and growing demand for personalized medicine. Biote is well-positioned to capitalize on these trends by offering solutions that address the root causes of hormonal imbalances rather than just treating symptoms. Furthermore, the company's focus on practitioner education and certification ensures that its network remains informed about the latest advancements in hormone therapy, maintaining a competitive edge in a rapidly evolving industry.
Conclusion
Biote Corp stands out as a key player in the hormone optimization space, leveraging its expertise to empower practitioners and improve patient outcomes. By combining innovative therapies with a robust practice-building ecosystem, the company addresses the growing demand for personalized and preventive healthcare solutions. Biote's commitment to education, quality, and support ensures its relevance in an industry poised for sustained growth.
Biote (Nasdaq: BTMD), a provider of preventive health care solutions specializing in personalized hormone optimization and therapeutic wellness, has scheduled its fourth quarter and full year 2024 financial results announcement for March 12, 2025, after market close.
The company will host a conference call at 5:00 p.m. ET on the same day. Investors can access the call by dialing (844) 481-2820 (U.S. toll-free) or (412) 317-0679 (International). A live webcast will be available, and a replay will be posted on the Events page of Biote's Investor Relations website following the call.
AccessHope announces expansion of its executive leadership team with key appointments amid rapid growth. Dr. Yousuf Zafar, a Duke University oncologist and former Optum executive, joins as Chief Medical Officer. Peter Bridges, a veteran digital health leader, becomes Chief Strategy and Growth Officer, while Debra Morris is promoted to President.
The company, which delivers leading-edge cancer expertise, recently completed a spinout from City of Hope and secured $33 million in Series B funding. AccessHope has experienced double-digit annual growth since its founding and expanded its network of partnerships with NCI-Designated Comprehensive Cancer Centers, including prestigious institutions like Dana-Farber Cancer Institute and Johns Hopkins Medicine.
Biote (NASDAQ: BTMD) announced its Q3 2024 financial results. Revenue stood at $51.4 million, a 12.8% increase from the prior year. Procedure revenue was $37.9 million. Gross profit margin improved to 70.5%, driven by vertical integration and cost management. Net income was $12.7 million, with diluted EPS at $0.33, compared to $19.6 million and $0.24 respectively, in Q3 2023. Adjusted EBITDA grew to $16.2 million, with a margin of 31.5%.
Despite temporary disruptions from enhanced clinical decision support software and hurricane-related clinic closures, Biote anticipates procedure revenue growth to reaccelerate in 2025. The company launched proprietary software to bolster its competitive edge. Due to these disruptions, Biote adjusted its 2024 financial guidance to $197-$201 million in revenue and $58-$61 million in Adjusted EBITDA, down from $200-$204 million and $60-$63 million respectively.
Biote (Nasdaq: BTMD) has scheduled its third quarter 2024 financial results announcement for Tuesday, November 12, 2024, after market close. The company, which specializes in preventive health care through personalized hormone optimization and therapeutic wellness, will host a conference call at 5:00 p.m. ET on the same day. Participants can join via U.S toll-free number (844) 481-2820 or International number (412) 317-0679. A webcast replay will be available on the company's Investor Relations website after the event.
Biote (NASDAQ: BTMD) reported its Q2 2024 financial results, highlighting revenue of $49.2 million and a gross profit margin of 68.9%, up from 67.9% last year. Procedure revenue grew by 7.8%, reaching $38.4 million. The company faced a net loss of $(10.5) million, an improvement from a $(13.1) million loss in Q2 2023. Adjusted EBITDA was $12.7 million, down from $14.5 million a year earlier, due to increased sales and marketing investments.
Biote expanded its clinic network by 30% in the first half of 2024 and continued rolling out its BioteRx suite of hormone and wellness therapies, now in approximately 600 clinics. The company settled litigation with its founder, repurchasing 18.4 million shares. Guidance for 2024 remains unchanged, with revenue expected between $200-$204 million and Adjusted EBITDA between $60-$63 million.
Biote Corp. (Nasdaq: BTMD), a leader in preventive health care through personalized hormone optimization and therapeutic wellness, has announced its upcoming second quarter 2024 financial results release. The company will disclose its financial performance on Thursday, August 8, 2024, after market close, followed by a conference call at 5:00 p.m. ET the same day.
Investors and interested parties can access the conference call by dialing (844) 481-2820 (U.S. toll-free) or (412) 317-0679 (International). A live webcast of the call will also be available. Following the event, a replay of the webcast will be accessible on the Events page of Biote's Investor Relations website.
Biote (NASDAQ: BTMD) has reached a $60 million agreement with stockholder Marci M. Donovitz to resolve ongoing litigation. The company will repurchase approximately 8.3 million shares and cancel around 4.0 million earnout shares owned by Ms. Donovitz. The repurchases, averaging $7.23 per share, will be executed over a three-year schedule. This settlement aligns with Biote's capital allocation strategy and aims to enhance long-term shareholder value. Biote's management believes this transaction represents an advantageous use of capital, eliminating future earnout obligations and consolidating share control.
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.
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