JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
IRVING, Texas - Biote Corp. (NASDAQ:BTMD) shares tumbled 5.6% after the preventive health care solutions provider reported fourth-quarter earnings and revenue that fell short of analyst expectations and issued weaker-than-anticipated guidance for fiscal 2025.
The company posted adjusted earnings per share of $0.10 for the fourth quarter, missing the analyst consensus of $0.11. Revenue came in at $49.8 million, up 9% YoY but below the estimated $51.29 million.
Biote’s procedure revenue, which accounts for the majority of its business, grew 5% to $36.6 million. The company cited a reduction in procedure volume due to the transition to upgraded clinical decision support software and a focus on training existing practitioners as factors impacting growth.
For fiscal 2025, Biote expects revenue between $202 million and $208 million, significantly below the consensus estimate of $226.2 million. The company projects procedure revenue to increase 2-4% from 2024 levels.
"To reach our full potential and drive accelerated growth, I have identified several areas of emphasis for 2025 which I believe are fundamental to commercial execution at a high level," said CEO Bret Christensen. He outlined plans to maximize value from top-tier providers, add new practitioners, and improve consistency throughout the commercial organization.
Despite the earnings miss and soft guidance, Biote reported a full-year revenue increase of 6.4% to $197.2 million in 2024. The company’s gross profit margin improved to 70.5% from 68.8% in the previous year, primarily due to the vertical integration of its manufacturing facility.
Biote ended the year with $39.3 million in cash and cash equivalents on its balance sheet. The company’s shares were down 5.6% following the earnings release, reflecting investor disappointment with the results and outlook.
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