Revenue: As of FY2025, the actual value is USD 192.22 M, beating the estimate of USD 191.65 M.EPS: As of FY2025, the actual value is USD 0.74, beating the estimate of USD 0.66.EBIT: As of FY2025, the actual value is USD 46.51 M.biote Corp. operates as one segment, generating revenue from long-term service agreements and sales of Biote-branded dietary supplements . All financial figures are in thousands of dollars unless otherwise specified.<h4>Segment Revenue</h4><ul><li>Total Revenue: Decreased by $5.0 million (-2.5%) from $197,191 in 2024 to $192,219 in 2025 .</li><li>Product Revenue: Was $186,924 in 2025, down from $192,240 in 2024, primarily due to a $13.3 million decline in procedure revenue, partially offset by a $6.9 million increase in revenue from Biote-branded dietary supplements and a $1.1 million increase from disposable trocars and bioidentical hormone pellets sold to third parties .</li><li>Service Revenue: Increased by $0.3 million, from $4,951 in 2024 to $5,295 in 2025, driven by a $0.6 million increase in technology fees, partially offset by a $0.2 million decline in training revenue .</li></ul><h4>Operational Metrics</h4><ul><li>Net Income: Significantly increased from $46 in 2024 to $31,597 in 2025 .</li><li>Income from Operations: Increased from $31,611 in 2024 to $35,551 in 2025 .</li><li>Cost of Revenue: Decreased by $3.3 million (-5.6%) from $58,130 in 2024 to $54,858 in 2025, reflecting cost savings from vertical integration of Asteria Health and decreased pellet procedures . Cost associated with Biote-branded dietary supplements increased by 13.7% .</li><li>Selling, General and Administrative Expense (SG&amp;A): Decreased by $5.6 million (-5.2%) from $107,450 in 2024 to $101,810 in 2025, primarily due to a $4.9 million reduction in legal settlement expenses in 2025 compared to 2024, and a $2.4 million decrease in other legal expenses . This was partially offset by a $2.2 million increase in marketing-related expenses .</li><li>Interest Expense, Net: Remained relatively unchanged at - $10,961 in 2025 compared to - $11,001 in 2024 . A $1.7 million decrease in Term Loan interest was offset by a $1.1 million decrease in interest income and a $0.6 million increase in accreted interest on share repurchase liabilities .</li><li>Gain (Loss) from Change in Fair Value of Earnout Liabilities: Swung from a loss of - $19,605 in 2024 to a gain of $13,023 in 2025, mainly due to a 57.9% decrease in the Class A common stock closing price in 2025, compared to a 25.1% increase in 2024 .</li><li>Income Tax Expense: Increased by $5.0 million from $970 in 2024 to $5,987 in 2025, driven by deferred tax expense due to a decrease in the Company’s outside basis in Holdings .</li><li>Adjusted EBITDA: Decreased from $58,225 in 2024 to $53,481 in 2025 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by Operating Activities: Decreased by $10.0 million from $45,243 in 2024 to $35,194 in 2025 . This was impacted by an $8.3 million increase in cash used for working capital in 2025, primarily due to a $10.0 million increase in cash used for inventory .</li><li>Net Cash Used in Investing Activities: Decreased by $11.9 million from - $18,798 in 2024 to - $6,864 in 2025, primarily because 2024 included $11.8 million for acquisitions (Asteria Health, Simpatra, and BioSana) .</li><li>Net Cash Used in Financing Activities: Decreased by $32.5 million from - $76,083 in 2024 to - $43,555 in 2025 . This was mainly due to a $24.6 million decrease in cash payments for repurchase liabilities and a $2.2 million decrease in Class A common stock repurchases . Borrowings on revolving loans increased by $5.0 million in 2025 .</li></ul><h4>Unique Metrics</h4><ul><li>Biote-certified practitioners: Over 9,200 as of December 31, 2025 .</li><li>Partnered clinics: Over 5,300 nationwide, with approximately 850 new clinics contracted in 2025 .</li><li>Retention Rate: Over 91% among Biote-certified practitioners as of December 31, 2025 .</li><li>Biote-branded dietary supplements: Approximately 65% of partnered clinics offer these products, with an average supplement volume per practice of approximately $7,900 as of 2025 .</li><li>Procedure Revenue CAGR: Four-year compound annual growth rate from 2019-2025 was 4.6% .</li><li>Biote-branded Dietary Supplement Business CAGR: Grew at a 9.5% CAGR between 2019 and 2025 .</li><li>Inventory Impairment Charge: A $1.3 million charge was recorded in Q4 2025 related to a voluntary recall of hormone pellets in January 2026 .</li></ul><h4>Outlook / Guidance</h4>biote Corp. anticipates its current cash position, expected cash from operations, and available revolving loans will sufficiently fund operations and debt service for at least the next 12 months . The company plans to expand its commercial sales team, add new geographies, and increase training capacity in 2026 to support new clinic growth . While monitoring global supply chain disruptions, the company does not foresee a material impact from inflation or trade policies in future periods, though increased operational expenses may occur .

biote Corp. | 10-K: FY2025 Revenue Beats Estimate at USD 192.22 M