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• Revenue: $49.8 million for Q4 2024, up 9% year-over-year.

• Procedure Revenue Growth: Increased 5%, impacted by transition to new software and training focus.

• Dietary Supplement Revenue: Increased 10.2% year-over-year, benefiting from transition to Amazon Channel.

• Gross Profit Margin: 71.8%, a 247 basis point increase from Q4 2023.

• Selling, General and Administrative Costs: $33.0 million, up from $26.2 million in Q4 2023.

• Net Income: $3.5 million, compared to $12.1 million in Q4 2023.

• Net Income Per Share: $0.10 per diluted share, down from $0.18 in Q4 2023.

• Adjusted EBITDA: $15.1 million, up 11.4%, with a margin of 30.3%.

• Cash Flow from Operations: $45.2 million for fiscal year 2024, up from $26.9 million in 2023.

• Cash and Cash Equivalents: $39.3 million as of December 31, 2024.

• 2025 Revenue Outlook: $202 million to $208 million.

• 2025 Adjusted EBITDA Outlook: $59 million to $64 million.

• Warning! GuruFocus has detected 3 Warning Signs with BTMD.

Release Date: March 12, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Biote Corp (NASDAQ:BTMD) reported a 9% increase in fourth-quarter revenue, reaching $49.8 million.

• The company achieved a 247 basis point improvement in gross profit margin, reaching 71.8%, due to cost savings from vertical integration and effective cost management.

• Biote Corp (NASDAQ:BTMD) successfully launched its proprietary BioteRx wellness platform, which is expected to be a key competitive differentiator.

• The acquisition of Asteria Health has strengthened Biote Corp (NASDAQ:BTMD)'s control over its supply chain and product quality, enhancing gross profit margins.

• Biote Corp (NASDAQ:BTMD) has a strong cash flow from operations, with $45.2 million generated in fiscal year 2024, compared to $26.9 million in 2023.

Negative Points

• Procedure revenue growth was negatively impacted by a reduction in procedure volume due to the transition to upgraded clinical decision support software.

• New customer growth has slowed as the company focused on serving existing practitioners, impacting procedure revenue growth in the first half of 2025.

• Net income decreased to $3.5 million in the fourth quarter of 2024, compared to $12.1 million in the same period of 2023.

• Selling, general, and administrative expenses increased to $33.0 million in the fourth quarter of 2024, up from $26.2 million in 2023, due to employee-related investments and legal expenses.

• The company expects first-quarter 2025 adjusted EBITDA to be approximately 5% lower compared to the first quarter of 2024 due to increased sales and marketing activities.