Biote Corp. · NASDAQ:BTMD
Biote — Q2 2026 Earnings Presentation
26 slides from Biote's earnings presentation, Aug 5, 2026
Slide 1: Transforming Healthy Aging
biote Transforming Healthy Aging
Slide 2: Forward-Looking Statements
2 Transforming Healthy Aging Forward-Looking Statements Forward-Looking Statements Certain statements in this Presentation may be considered “forward-looking statements” within the meaning of the provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statem
Slide 3: Looking Forward
3 Transforming Healthy Aging Looking Forward Biote offers an Our Vision evidence-based, individualized, and To be a part of comprehensive everyone’s routine approach to healthcare as healthcare they age
Slide 4: Biote by the Numbers
4 Transforming Healthy Aging Biote by the Numbers1 The Established Leader in Hormone Optimization $192.2M > 9,200 2025 Revenue Biote-Certified Practitioners $53.5M2 ~6M 2025 Adj. EBITDA Procedures Performed 27.8% 2 ~400,000 2025 Adj. EBITDA Active Patients Margin 1. All information as of December 31
Slide 5: Investment Highlights
5 Transforming Healthy Aging Investment Highlights Proprietary Trusted Leader in Large & Growing Growing, Profitable Technology, Hormone Addressable & Capital-light Clinical, Education Optimization Markets Business Model & Training Platform Becoming the Leading Single-Source Provider of Evidence-Bas
Slide 6: Why Hormone Optimization
6 Transforming Healthy Aging Why Hormone Optimization ~47M Women Hormone Deficiency Impacts Quality of Life and Heightens Risk of Chronic Disease affected with menopausal symptoms(8) Common Hormone deficiency symptoms:(1) increases risk of: Low energy Heart disease(2)(3) • • Insomnia • • Breast canc
Slide 7: Biote: A Better Solution for Practitioners & Patients
7 Transforming Healthy Aging Biote: A Better Solution for Practitioners & Patients Network of >9,200 certified practitioners1 • OB/GYN Biote-certified practitioners customize • Family Practice/Internal Medicine treatment therapies based on our • Urology proprietary algorithms to meet each • Function
Slide 8: A More Proactive and Holistic Approach to Healthcare
8 Transforming Healthy Aging A More Proactive and Holistic Approach to Healthcare Practitioners Seek: Single-source technology platform Therapies to address common health conditions Revenue opportunities that enhance clinic economics Patients Seek: Ease and convenience from a single provider
Slide 9: Hormone Optimization Leader Becoming a Therapeutic Wellness Leader
9 Biote 2012-2023 Hormone Optimization Leader Biote 2024-2026 Becoming a Therapeutic Wellness Leader Evidence-Based Tech-Enabled Therapeutics + Platform Expansive Portfolio DRIVEN by of Products Comprehensive BEST-IN-CLASS personalized Biote Weight Loss/ People BioteRx Body Comp Biote wellness s
Slide 10: Large & Growing Markets
10 Transforming Healthy Aging Large & Growing Markets 82% of US Consumers Consider US Therapeutic Wellness a Top or Important Priority in their Everyday Lives(10) Wellness Growing patient interest in personal $400B+ health & wellness 5-10% CAGR(10) Patient desire for evidence-based results Hormo
Slide 11: Significant Geographic & Practitioner Expansion Opportunity
11 Transforming Healthy Aging Significant Geographic & Practitioner Expansion Opportunity1 Practitioner Opportunity Building on our success in our core states 260,0002 to efficiently scale our presence US Practitioners with Relevant Specialties Tech-enabled, franchise- like highly-scalable busines
Slide 12: Nutraceuticals Complement Our Hormone Therapy Offerings
12 Transforming Healthy Aging Nutraceuticals Complement Our Hormone Therapy Offerings Biote-branded dietary supplements and cosmeceuticals Complementary to procedures performed by Biote-certified practitioners Nutraceuticals strengthen the patient connection to Biote and enhance practitioner e
Slide 13: BioteRx: New Therapeutic Wellness Offerings
13 Transforming Healthy Aging BioteRx: New Therapeutic Wellness Offerings from a Trusted Network of Providers Wellness Categories Hormone Optimization Weight Loss/ Thyroid Body Composition Health Sexual Preventive Health Wellness Hair Loss/ Aesthetic Dermatology
Slide 14: Our Scalable & Proprietary Platform
14 Transforming Healthy Aging Our Scalable & Proprietary Platform Drives Clinic Success The Biote + + + + = Method Didactic & Clinical Proprietary Access to Practice Practice Clinical Decision Practice High Quality Training Retention Certification Support Management Products and Support Training Sof
Slide 15: Leadership in Education, Training & Research
15 Transforming Healthy Aging Commitment to Research Leadership in Education, The Aging Male European Journal of Breast Health Training & Research Therapeutic Advances in Endocrinology and Metabolism Breast Cancer Study(14) Testosterone and/or Testosterone/Estradiol delivered subcutaneously
Slide 16: 2025 Financial Results & 2026 Outlook
16 Transforming Healthy Aging 2025 Financial Results & 2026 Outlook 2025 Results 2026 Guidance $192.2 Revenue Revenue: Above $190M $53.5M Adj. EBITDA1 Adj. EBITDA1 27.8% Adj. EBITDA Margin1 Above $38M >9,200 Practitioners 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financi
Slide 17: Capital Allocation Priorities
17 Transforming Healthy Aging Capital Allocation Priorities Organic Drive growth, gain efficiency and expand capabilities Investments Share Company repurchased approximately 5.5M shares of its Class V voting stock Repurchases for $25.1M Company executed an amendment to the settlement agreement repur
Slide 18: Strengthened Capabilities
18 Transforming Healthy Aging Strengthened Capabilities ▪ Strategic acquisition strengthens control over our supply chain and enhances our efficiency ▪ Deep expertise in 503B manufacturing ▪ Enables longer-term development of innovative wellness therapeutics ▪ Vertical integration of manufacturing p
Slide 19: Our 2026 Priorities
19 Transforming Healthy Aging Our 2026 Priorities ▪ Strengthen our efforts to maximize the value from our top-tier providers ▪ Fully leverage the capabilities of our enhanced clinical decision support software ▪ Continue to develop more high-value and differentiated offerings for our practitioners a
Slide 20: Key Takeaways
20 Transforming Healthy Aging Key Takeaways ▪ Leveraging our leadership in hormone optimization to capture the significant growth opportunity in therapeutic wellness ▪ Our addressable market is substantial, and that we have only just begun to tap into the geographic expansion opportunity in front of
Slide 21: Thank You
21 Thank You
Slide 22: Appendix A
22 Appendix A
Slide 23: Reconciliation of Adjusted EBITDA to Net Income
23 Reconciliation of Adjusted EBITDA to Net (Loss) Income Ye ar Ende d De ce mbe r 31, (in thousands) 2025 2024 Net income $ 31,597 $ 46 Interest expense, net (1) 10,961 11,001 Income tax (benefit) expense 5,987 970 Depreciation and amortization (2) 3,670 3,574 Share-based compensation expense(3) 8,
Slide 24: Reconciliation of Adjusted EBITDA to Net Income
24 Reconciliation of Adjusted EBITDA to Net (Loss) Income (1) Represents cash and non-cash interest on our debt obligations, commitment fees for our unused Revolving Loans, net of interest income earned on our money market account. For the years ended December 31, 2025 and 2024, interest expense, ne
Slide 25: Appendix B
25 Appendix B
Slide 26: Sources
Sources 26 (1) Cardozo et al. Am J OB/GYN, 1984. (2)Mechanisms of testosterone deficiency-related endothelial dysfunction. Antonopoulous AS and Antoniades C. Hellenic J Cardiol. 2018 Jun 8. pii:@1109-9666(18)30168-4. (3)Abraham Morgantaler et al., Testosterone therapy and cardiovascular Risk: Advanc