Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2024

18.

NET INCOME (LOSS) PER COMMON SHARE

The computation of basic and diluted net income (loss) per common share is based on net income (loss) attributable to Biote stockholders divided by the basic and diluted weighted average number of shares of Class A common stock outstanding. The following table sets forth the computation of net income (loss) per common share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except share and per share data)	2024		2023		2024			2023
Net income (loss) per common share
Numerator:
Net income (loss) attributable to biote Corp. stockholders (basic and diluted)	$	10,702	$	7,530	$	(546	)	$	(4,418	)
Denominator:
Weighted average shares outstanding - basic		31,045,174		30,334,193		33,235,662			22,921,401
Effect of dilutive securities		1,215,635		707,052		—			—
Weighted average shares outstanding - diluted		32,260,809		31,041,245		33,235,662			22,921,401
Net income (loss) per common share
Basic	$	0.34	$	0.25	$	(0.02	)	$	(0.19	)
Diluted	$	0.33	$	0.24	$	(0.02	)	$	(0.19	)

Net income (loss) per common share information for the three and nine months ended September 30, 2024 and 2023 reflects only the net income (loss) attributable to holders of Biote’s Class A common stock, as well as both basic and diluted weighted average Class A common stock outstanding. Net income (loss) per common share is not separately presented for Class V voting stock because it has no economic rights to the income or loss of the Company. Class V voting stock is considered in the calculation of dilutive net loss per common share on an if-converted basis as these shares, together with the related non-controlling interests, have redemption rights into Class A common stock that could result in additional Class A common stock being issued. All other potentially dilutive securities are determined based on the treasury stock method.

The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted weighted average shares outstanding for the periods indicated because including them would have had an antidilutive effect:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
RSUs		—		—		69,827		695,392
Stock Options		6,298,547		3,686,536		11,125,738		8,087,911
Class V Voting Stock		5,221,653		28,819,066		5,221,653		28,819,066
Earnout Voting Shares		2,028,226		10,000,000		2,028,226		10,000,000
Sponsor Earnout Shares		1,587,500		1,587,500		1,587,500		1,587,500
		15,135,926		44,093,102		20,032,944		49,189,869