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CONDENSED CONSOLIDATED STATEMENTS OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total revenue $ 51,384 $ 45,557 $ 147,357 $ 139,657
Cost of revenue        
Cost of revenue 15,172 14,167 43,826 43,872
Selling, general, and administrative 24,028 23,791 74,687 72,636
Income from operations 12,184 7,599 28,844 23,149
Other income (expense) net :        
Interest expense, net (3,542) (1,530) (7,779) (4,821)
Loss from change in fair value of warrant liability       (13,411)
Gain (loss) from change in fair value of earnout liabilities 7,213 17,450 (18,825) (14,360)
Other income (expense)   (3) (4) (14)
Total other income (expense), net 3,671 15,917 (26,608) (32,606)
Income (loss) before provision for income taxes 15,855 23,516 2,236 (9,457)
Income tax expense 3,198 3,874 5,673 5,426
Net Income (loss) 12,657 19,642 (3,437) (14,883)
Less: Net income (loss) attributable to noncontrolling interest 1,955 12,112 (2,891) (10,465)
Net income (loss) attributable to biote Corp. stockholders 10,702 7,530 (546) (4,418)
Other comprehensive income (loss):        
Foreign currency translation adjustments (8) 8 (10) 8
Other comprehensive income (loss) (8) 8 (10) 8
Comprehensive income (loss) $ 12,649 $ 19,650 $ (3,447) $ (14,875)
Net income (loss) per common share        
Basic $ 0.34 $ 0.25 $ (0.02) $ (0.19)
Diluted $ 0.33 $ 0.24 $ (0.02) $ (0.19)
Weighted average common shares outstanding        
Basic 31,045,174 30,334,193 33,235,662 22,921,401
Diluted 32,260,809 31,041,245 33,235,662 22,921,401
Product Revenue        
Revenue        
Total revenue $ 49,806 $ 44,831 $ 143,952 $ 137,638
Cost of revenue        
Cost of revenue 14,431 13,070 41,659 41,089
Service Revenue        
Revenue        
Total revenue 1,578 726 3,405 2,019
Cost of revenue        
Cost of revenue $ 741 $ 1,097 $ 2,167 $ 2,783