Biote Corp. · NASDAQ:BTMD
Biote — Investor Presentation (March 2024)
24 slides from Biote's investor presentation, Mar 14, 2024
Slide 1: Transforming Healthy Aging
Exhibit 99.1 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: Our Vision
3 Transforming Healthy Aging Looking Forward Biote offers an Our Vision evidence-based, To be a part of individualized, and everyone’s routine comprehensive healthcare as approach to they age healthcare
Slide 4: Biote by the Numbers
4 Transforming Healthy Aging 1 Biote by the Numbers The Established Leader in Hormone Optimization $185M 7,100+ 2023 Revenue Biote-Certified Practitioners 2 ~4M $55M Procedures 2023 Adj. EBITDA Performed 2 ~30% ~400,000 2023 Adj. EBITDA Active Patients Margin 1. All information as of December 31, 20
Slide 5: Investment Highlights
5 Transforming Healthy Aging Investment Highlights Proprietary Trusted Leader in Large & Growing Growing, Profitable Technology, Hormone Addressable & Capital-light Education & Optimization Markets Business Model Training Platform Becoming the Leading Single-Source Provider of Evidence-Based Therape
Slide 6: Why Hormone Optimization
6 Transforming Healthy Aging Why Hormone Optimization Hormone Deficiency Impacts Quality of Life and ~47M Women Heightens Risk of Chronic Disease affected with menopausal (8) symptoms Common Hormone deficiency (1) symptoms: increases risk of: (2)(3) • Low energy• Heart disease (4)(5) • Insomnia• Bre
Slide 7: Biote: A Better Solution for Practitioners & Patients
7 Transforming Healthy Aging Biote: A Better Solution for Practitioners & Patients 1 Network of 7,100+ certified practitioners • OB/GYN Biote-certified practitioners customize • Family Practice/Internal Medicine treatment therapies based on our • Urology proprietary algorithms to meet each • Functio
Slide 8: Nutraceuticals Complement Our Hormone Therapy Offerings
8 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 ec
Slide 9: A More Proactive and Holistic Approach to Healthcare
9 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 10: BioteRx: New Therapeutic Wellness Offerings
10 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 11: Large & Growing Markets
11 Transforming Healthy Aging Large & Growing Markets 82% of US Consumers Consider US Therapeutic Wellness a Top or Important Wellness (10) Priority in their Everyday Lives $400B+ ▪ Growing patient interest in personal health & wellness (10) 5-10% CAGR ▪ Patient desire for clinically-proven results
Slide 12: Significant Geographic & Practitioner Expansion Opportunity
12 Transforming Healthy Aging Significant Geographic & Practitioner 1 Expansion Opportunity Practitioner Opportunity 2 Building on our success in our core 260,000 US Practitioners with states to efficiently scale our presence Relevant Specialties ▪ Tech-enabled, franchise- like highly-scalable busin
Slide 13: Commitment to Research
13 Commitment to Research Transforming Healthy Aging ▪ The Aging Male Leadership in Education, ▪ European Journal of Breast Health ▪ Therapeutic Advances in Endocrinology and Metabolism Training & Research (14) Breast Cancer Study ▪ Testosterone and/or Testosterone/Estradiol delivered subcutaneously
Slide 14: Our Scalable & Proprietary Platform Drives Clinic Success
14 Transforming Healthy Aging Our Scalable & Proprietary Platform Drives Clinic Success + + + + = The Biote Method Clinical Didactic & Access to Practice Practice Proprietary Decision High Quality Training Clinical Retention Practice Support Certification Dietary and Support Management System Supple
Slide 15: 2023 Financial Results & 2024 Outlook
15 Transforming Healthy Aging 2023 Financial Results & 2024 Outlook 2024 Guidance 2023 Results Revenue: ▪ $185.4M Revenue $200M - $204M (+12.4% y/y) 1 ▪ Expect low single-digit ▪ $55.3M Adj. EBITDA revenue growth in first half (+10.2% y/y) 2024 1 ▪ 29.8% Adj. EBITDA Margin ▪ Significant revenue grow
Slide 16: Capital Allocation Priorities
16 Transforming Healthy Aging Capital Allocation Priorities Organic Drive growth, gain efficiency and expand capabilities Investments Company agreed to repurchase ~18.4 million shares from Share founder over three years on fixed terms (binding settlement Repurchases term sheet). Company authorized a
Slide 17: Strengthened Capabilities
17 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 18: Key Takeaways
18 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 19: Thank You
19 Thank You
Slide 20: Appendix A
20 Appendix A
Slide 21: Reconciliation of Adjusted EBITDA to Net (Loss) Income
21 Reconciliation of Adjusted EBITDA to Net (Loss) Income Year Ended December 31, (in thousands) 2023 2022 $ Net income (loss) $ 1,324 (2,805) Interest expense, net 6,363 4,047 Income tax expense 2,682 388 Depreciation and amortization 2,994 2,199 (1) Loss from extinguishment of debt — 445 (2) Share
Slide 22: Reconciliation of Adjusted EBITDA to Net (Loss) Income (footnotes)
22 Reconciliation of Adjusted EBITDA to Net (Loss) Income (1) Represents unamortized debt issuance costs of $0.4 million charged to extinguishment of debt upon full repayment of the Company’s credit agreement with Bank of America. (2) Represents employee compensation expense associated with equity-b
Slide 23: Appendix B
23 Appendix B
Slide 24: Sources
24 Sources (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