Biote Q3 revenue falls misses analyst expectations on soft procedure segment 

Overview

• US hormone therapy provider's Q3 revenue fell 9.6% yr/yr, missing analyst expectations

• Adjusted 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:

Key Details

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

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• Nov 3 - Israel's Teva Q3 revenue falls 2% as generics decline

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(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.)