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biote (BTMD) earnings and revenue breakdown
Latest: Q3 2026 · 8-K filed Nov 4, 2026
Q3 2026 Revenue down 10% year over year to $43.3M · 1¢ of every $1 of revenue kept as net profit · operating margin 5.7%
biote made $43.3M in Q3 2026 (-10% Y/Y): Product revenue $42.6M, Service revenue $765K. Operating margin 5.7%, net earnings $407K. See where every dollar goes — costs, profit and cash — as a Sankey from the 8-K filed Nov 4, 2026 (preliminary, from the earnings release).
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What changed this quarter
Revenue was $43.3M in Q3 2026, down 10% year over year and down 2% from the previous quarter. Product revenue was the largest line at 98% of revenue. Product revenue lost $4.4M year over year (down 9%), 95% of the total change.
Operating profit was $2.5M, a 5.7% margin (down 11.5 points year over year). Total costs grew 3% against a revenue fall of 10%. Net earnings were $407K, down 95% year over year. The effective tax rate was 58.3%.
Operating cash flow was $3.7M (down 74% year over year), 648% of net income including minority interests. Non-cash charges added back $1.0M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $747K. Capital expenditures of $2.6M left free cash flow of $1.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 8-K | Nov 4, 2026 | $43.3M | -10% | 5.7% | $407K | $3.7M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $44.2M | -10% | -7.9% | −$7.4M | −$1.2M |
| Q1 2026 | 10-Q | May 11, 2026 | $44.9M | -8% | 7.0% | $2.3M | $3.9M |
| Q4 2025 | 10-K | Mar 13, 2026 | $46.4M | -7% | 14.7% | $2.0M | $7.6M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $48.0M | -7% | 17.2% | $8.2M | $14.1M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $48.9M | -0.6% | 22.0% | $3.2M | $7.1M |
| Q1 2025 | 10-Q | May 9, 2025 | $49.0M | +5% | 19.8% | $13.7M | $6.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About biote
Biote advances the healthspan of our Practitioners’ patients by providing innovative hormone optimization and healthy aging solutions. Through our network of Biote certified providers, we collaborate with leading clinicians to restore vitality and promote vibrant aging.
In its own words, from its 8-K, filed Aug 5, 2026.
biote against its Medicinal Chemicals & Botanical Products peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -10% against the peers' median +7%. Operating margin: 5.7% against the peers' median 4.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BTMD biote | Q3 2026 | $43.3M | -10% | 5.7% |
| CURLF Curaleaf Holdings | Q3 2026 | $353M | +11% | 0.8% |
| TLRY Tilray Brands | Q1 FY27 | $257M | +23% | -9.4% |
| TRLV Trulieve Cannabis | Q3 2026 | $230M | -20% | 18.5% |
| USNA Usana Health Sciences | Q2 2026 | $223M | -5% | -9.0% |
| AAWH Ascend Wellness Holdings | Q2 2026 | $126M | -0.9% | 4.2% |
| CRON Cronos Group | Q3 2026 | $83.9M | +72% | 10.8% |
| CGC Canopy Growth | Q2 FY27 | $71.1M | +20% | -23.1% |
| JUSH Jushi Holdings | Q3 2026 | $70.5M | +7% | 5.0% |
Source: biote 8-K on SEC EDGAR · CIK 1819253 · Medicinal Chemicals & Botanical Products
13F: who owns BTMD and who is buying
More on BTMD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results