GET DAILY SIGNALSBiote Corp (BTMD) Delivers Q3 EPS Beat While Navigating Recall Aftermath
Key Takeaways
- Biote reported third quarter 2026 revenue of $43.3 million, down 9.6% from $48.0 million in the prior-year period.
- Diluted earnings per share (EPS) came in at $0.01, beating the Zacks Consensus Estimate of a $0.05 loss, while revenue slightly missed consensus.
- Procedure revenue fell 15.1% to $28.9 million, reflecting lingering effects of a January 2026 voluntary recall, while dietary supplements revenue grew 7.3% to $12.0 million.
- The company maintained its full-year 2026 outlook of revenue above $175 million and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) above $25 million.
- Adjusted EBITDA declined to $5.1 million, with an adjusted EBITDA margin of 11.7%, compared with $12.9 million a year earlier.
Putting the Quarter in Context
Biote Corp. (NASDAQ: BTMD) provides hormone optimization and healthy aging solutions, so its third quarter results give a clear signal on whether demand is stabilizing after a challenging stretch. The firm has been working through the impact of a January 2026 voluntary recall that weighed on procedure volumes and margins. With revenue down year over year and procedure trends only starting to show signs of recovery, I am watching closely to see if management can steer the business back to growth. The update also matters because it tests the reliability of the company’s full-year guidance at a time when the stock has faced notable pressure through 2026. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
What the Numbers Show
For the third quarter ended September 30, 2026, BTMD posted total revenue of $43.3 million, a 9.6% drop from $48.0 million in the same period last year. Procedure revenue declined 15.1% to $28.9 million, while dietary supplements revenue rose 7.3% to $12.0 million, supported by ongoing e-commerce momentum.
Diluted EPS attributable to Biote Corp. stockholders reached $0.01, compared with $0.22 a year earlier. Net income totaled $0.6 million, down from $9.2 million, and included a $1.0 million gain from a change in the fair value of earnout liabilities. Adjusted EBITDA fell to $5.1 million, producing an adjusted EBITDA margin of 11.7%, versus $12.9 million in the prior-year quarter.
Relative to expectations, EPS beat the Zacks Consensus Estimate of a $0.05 loss, while revenue of $43.3 million came in just below consensus estimates that ranged from roughly $44.0 million to $45.0 million. Gross margin eased to 67.7% from 71.8%, though it improved on a sequential basis as the company shifted back toward internally manufactured pellets.
Market Reaction and Investor Sentiment
BTMD shares have come under meaningful pressure in 2026, and the third quarter update sent a mixed signal. The EPS beat was tempered by the revenue miss and the continued year-over-year drop in procedure volume. Management noted that the return to growth is progressing more slowly than anticipated, while highlighting that recent improvement in procedure volume offers early signs of stabilization in underlying demand.
Investor sentiment stays measured, with focus on whether gross margin can continue recovering sequentially as internally manufactured pellets from Asteria Health move closer to pre-recall levels. The decision to hold full-year guidance intact reflects confidence, yet execution on procedure volume and practitioner engagement will likely shape near-term views.
What to Watch Going Forward
Looking ahead, Biote has reaffirmed its full-year 2026 guidance of revenue above $175 million and adjusted EBITDA above $25 million, unchanged from the second quarter. Management still expects dietary supplements revenue to grow at a mid- to high-single-digit rate for the full year.
Procedure volume remains the key metric to track. The company noted modest increases in average daily procedure volume during the quarter, but sustained improvement across the network will be essential. New customer growth, same-store sales, and limiting practitioner attrition are the main drivers to monitor.
Margin recovery is another important theme. Gross margin improved sequentially by 231 basis points as the pellet mix shifted back toward internally manufactured products. Management anticipates further sequential gains as Asteria Health returns to pre-recall supply levels, which should lessen reliance on lower-margin third-party pellets.
Finally, cost discipline and sales productivity deserve attention. Selling, general, and administrative expenses rose 2.6% year over year but declined sharply on a sequential basis due to lower legal costs. The emphasis on face-to-face practitioner engagement and improving rep productivity will be critical to turning early stabilization into lasting revenue growth.
Enhancing My Research with Tickeron Tools
In my own work, I regularly turn to Tickeron’s AI Screener when evaluating companies like this one. The tool lets me quickly filter stocks by industry, technical patterns, fundamentals, and AI-driven signals, which helps surface relevant comparisons and potential trade ideas without spending hours on manual screens. It has become a practical part of how I cross-check ideas and identify opportunities in the market.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BTMD in upward trend: price expected to rise as it breaks its lower Bollinger Band on October 13, 2026
BTMD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 38 of 42 cases where BTMD's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BTMD's RSI Oscillator exited the oversold zone, 23 of 29 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 79%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 49 of 69 cases where BTMD's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 71%.
The Momentum Indicator moved above the 0 level on October 26, 2026. You may want to consider a long position or call options on BTMD as a result. In 71 of 100 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 71%.
The Moving Average Convergence Divergence (MACD) for BTMD just turned positive on October 08, 2026. Looking at past instances where BTMD's MACD turned positive, the stock continued to rise in 29 of 43 cases over the following month. The odds of a continued upward trend are 67%.
Following a +10.28% 3-day Advance, the price is estimated to grow further. Considering data from situations where BTMD advanced for three days, in 179 of 230 cases, the price rose further within the following month. The odds of a continued upward trend are 78%.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTMD declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 82%.
The Aroon Indicator for BTMD entered a downward trend on October 22, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 6 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 54 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (-0.536) is normal, around the industry mean (204.016). P/E Ratio (6.833) is within average values for comparable stocks, (19.314). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.498). Dividend Yield (0.000) settles around the average of (0.094) among similar stocks. P/S Ratio (0.243) is also within normal values, averaging (2.688).
The Tickeron Price Growth Rating for this company is 82 (best 1 - 100 worst), indicating slightly worse than average price growth. BTMD’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 100 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BTMD’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock worse than average.
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