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biote cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$3.7M in Q2 2026 · $19.9M over twelve months

Operating cash flow−$1.2M
Capital spending−$2.6M
Free cash flow−$3.7M
Cash conversion cycle85 days

Analysis

In Q2 2026, biote generated −$1.2M of operating cash flow and spent $2.6M on capital projects, leaving free cash flow of −$3.7M. That is $9.0M less than in Q2 2025 ($5.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was $24.4M; the largest uses were other financing ($24.9M), capital spending ($4.5M), other investing ($2.4M); besides operations, cash came from shares issued ($117K); the cash balance fell by $8.4M.

Operating cash flow was −$1.2M against net income of −$7.4M. The largest differences: accrued liabilities +$3.9M, prepaid and other assets −$2.0M, stock-based pay +$2.0M.

Its cash conversion cycle was 85 days (receivables 16 + inventory 114 − payables 44).

Free cash flow

biote: free cash flow by quarterbiote: free cash flow by quarter$14.0MQ3 2024$10.7MQ4 2024$4.8MQ1 2025$5.3MQ2 2025$13.6MQ3 2025$6.5MQ4 2025$3.5MQ1 2026−$3.7MQ2 2026
Operating cash flow less capital spending.
biote: operating cash flow against capital spendingbiote: operating cash flow against capital spendingOperating cash flowCapital spending$15.6M$1.6MQ3 2024$12.4M$1.7MQ4 2024$6.5M$1.6MQ1 2025$7.1M$1.8MQ2 2025$14.1M$499KQ3 2025$7.6M$1.1MQ4 2025$3.9M$362KQ1 2026−$1.2M$2.6MQ2 2026
Latest (Q2 2026): Operating cash flow −$1.2M, Capital spending $2.6M.

Capital allocation, year by year

biote: where the cash came from (up) and went (down), by fiscal yearbiote: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $33.7MFY2021: Net borrowing −$122KFY2021: Capital spending −$1.4MFY2021: Dividends −$11.4M$33.7MFY2021FY2022: Operating cash flow −$9.2MFY2022: Capital spending −$333KFY2022: Dividends −$12.9MFY2022FY2023: Operating cash flow $26.9MFY2023: Shares issued $420KFY2023: Capital spending −$359KFY2023: Dividends −$8.7M$27.3MFY2023FY2024: Operating cash flow $45.2MFY2024: Shares issued $2.4MFY2024: Capital spending −$6.4MFY2024: Acquisitions −$11.8MFY2024: Buybacks −$5.6MFY2024: Dividends −$4.7M$47.6MFY2024FY2025: Operating cash flow $35.2MFY2025: Net borrowing $5.0MFY2025: Shares issued $226KFY2025: Capital spending −$5.0MFY2025: Buybacks −$3.4MFY2025: Dividends −$1.7M$40.4MFY2025
Over these 5 years operating cash flow totalled $132M; the largest uses were dividends ($39.5M) and capital spending ($13.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$11.2M
Debt$125M
Net debt$114M
Due within a year$6.2M

biote funds itself: free cash flow was $19.9M over the last twelve months, and $11.2M of cash and investments stands against $125M of debt ($6.2M due within a year, 1.8× covered by cash).

biote: debt maturities by year (FY2024)biote: debt maturities by year (FY2024)$6.2MYear 1$6.2MYear 2$96.9MYear 3
Principal due in each year as disclosed in the annual report, against $11.2M of cash and investments now.

Where the cash came from and went

biote: sources (+) and uses (−) of cash, Q2 2026biote: sources (+) and uses (−) of cash, Q2 2026Other financing$20.1MCash drawn (+) / kept (−)−$5.8MNet borrowing (+) / repaid (−)−$5.0MBuybacks−$4.8MCapital spending−$2.6MOperating cash flow−$1.2MDividends−$616KOther investing−$67KExchange rates$2K
biote: sources (+) and uses (−) of cash, TTM to Q2 2026biote: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing−$24.9MOperating cash flow$24.4MCash drawn (+) / kept (−)$8.4MCapital spending−$4.5MOther investing−$2.4MDividends−$1.2MShares issued$117KExchange rates$5K

From profit to cash

biote: net income to operating cash flow, Q2 2026biote: net income to operating cash flow, Q2 2026Net income−$7.4MDepreciation & amortization$963KStock-based pay$2.0MDeferred taxes$546KReceivables−$75KInventory$1.8MPayables−$1.7MAccrued liabilities$3.9MDeferred revenue−$356KPrepaid and other assets−$2.0MOperating cash flow−$1.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026161144485
Q1 2026141254891
Q4 2025151103590
Q3 202516972886
Q2 202516842476
Q1 2025141013382
Q4 2024151023383
Q3 2024141073191

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.2M−$2.6M—−$4.8M−$616K−$5.0M—−$5.8M−$3.7M
Q1 2026$3.9M−$362K—−$1.1M−$405K——$18.8M$3.5M
Q4 2025$7.6M−$1.1M——−$138K——$3.9M$6.5M
Q3 2025$14.1M−$499K——−$8K——−$8.4M$13.6M
Q2 2025$7.1M−$1.8M——−$887K——$22.1M$5.3M
Q1 2025$6.5M−$1.6M——−$694K——−$2.4M$4.8M
Q4 2024$12.4M−$1.7M−$231K—−$88K—$1.6M−$1.1M$10.7M
Q3 2024$15.6M−$1.6M——−$453K—$247K−$11.8M$14.0M

biote: income statement and cash flow

biote, Q3 2026: revenue $43.3M (-10% year over year), operating margin 5.7%. The chart follows the revenue to costs, profit and cash.

biote: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.