Corrected: Biote Q3 revenue falls misses analyst expectations on soft procedure segment

biote

Wed 22:05

Corrects to remove 'adjusted' basis from EPS in second Overview bullet

Overview
US hormone therapy provider's Q3 revenue fell 9.6% yr/yr, missing analyst expectations
EPS for Q3 was $0.01
Company maintained its full-year 2026 financial outlook

Outlook
Company expects 2026 revenue above $175 mln
Company expects 2026 adjusted EBITDA above $25 mln
Company expects 2026 dietary supplements revenue to grow at a mid- to high-single-digit rate

Result Drivers
PROCEDURE REVENUE DECLINE - Co said procedure revenue fell 15.1% in Q3
DIETARY SUPPLEMENTS GROWTH - Co said dietary supplements revenue rose 7.3% in Q3
LOWER MARGIN PELLETS - Co said gross margin fell due to increased use of lower margin third-party pellets after a voluntary recall

Company press release: ID:nBw6Y9pLxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$43.33 mln
$45.07 mln (5 Analysts)
Q3 EPS
 
$0.01
 
Q3 Adjusted EBITDA
 
$5.10 mln
 
Q3 Gross Margin
 
67.70%
 
Q3 Adjusted EBITDA Margin
 
11.70%
 
Q3 Operating Income
 
$2.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the professional information services peer group is "buy"
Wall Street's median 12-month price target for Biote Corp is $2.50, about 123.2% above its November 3 closing price of $1.12
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Nov 3 - Amgen Q3 revenue beats expectations on higher volumes
Nov 3 - Ireland's Alkermes Q3 revenue beats on LUMRYZ growth
Nov 3 - Israel's Teva Q3 revenue falls 2% as generics decline

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)