Biote Corp. (BTMD)
NASDAQHealth CareMedical - Care FacilitiesSnapshot 2026-09-04
$1.550.00%
Close 2026-09-04 · 1-day change
NASDAQHealth CareMedical - Care FacilitiesSnapshot 2026-09-04
Broken: Primary pillar broken — Adjusted EBITDA above $38 million in 2026: FY26 EBITDA guidance $25.0M vs $38.0M target.
Biote aims to grow revenue above $190 million in 2026. Profit targets include adjusted EBITDA above $38 million. The company has appointed an interim CEO to manage leadership change. Valuation is cheap with a PE of 4.8 versus peers at 21.5.
Revenue has declined from $49.8M in 2024-Q4 to $44.9M in 2026-Q1. Operating income fell from $12.2M to $3.2M in the same period. CEO resignation without a permanent replacement adds uncertainty. Earnings estimates have been revised down recently.
The market prices in about 5% revenue growth and a fair value near $8.88. Our view aligns with moderate growth but notes risks from recent earnings misses and leadership changes.
Breaks if: Adjusted EBITDA falls below $38 million in FY26
Breaks if: Permanent CEO not appointed or leadership issues arise
Breaks if: Revenue falls below $190 million in FY26
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a durable compounder with a focus on restoring revenue growth and improving profitability. The current thesis state is intact, reflecting recent earnings strength and management's commitment to key priorities.
The market currently prices BTMD as cheap compared to its peers, with a notable expectations gap. This suggests that investors may not fully account for the potential recovery in procedure revenue and adjusted EBITDA.
Management's execution will be crucial in the near term, especially in restoring procedure revenue growth and achieving adjusted EBITDA targets. Recent financial performance has been strong, but challenges remain, particularly due to a product recall and rising expenses.
The thesis hinges on several factors, including management's ability to meet guidance, the performance of sector bellwethers, and broader economic conditions affecting the healthcare sector. Any negative guidance or worsening economic indicators could impact sentiment significantly.
The most important moves since the prior daily snapshot.
Confidence changed from 'medium' to 'high'.
Yes, our read has weakened. The latest earnings report showed a miss. This miss raises concerns about the company's financial health. There are no new supportive factors to offset this. The outlook appears less favorable after this performance.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Overall, BTMD presents a complex picture with strong recent results but significant risks ahead. Not investment advice.