biote Corp. Earnings Per Share Disclosure
The computation of basic and diluted income per common share is based on net income attributable to Biote stockholders divided by the basic and diluted weighted average number of shares of Class A common stock outstanding. The following table sets forth the computation of net income per common share:
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Year Ended December 31, |
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(in thousands, except share and per share data) |
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2025 |
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2024 |
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Net income per common share |
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Numerator: |
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Net income attributable to biote Corp. stockholders (basic and diluted) |
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$ |
27,045 |
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$ |
3,157 |
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Denominator: |
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Weighted average shares outstanding - basic |
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31,283,245 |
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34,270,809 |
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Effect of dilutive securities |
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5,383,521 |
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— |
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Weighted average shares outstanding - diluted |
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36,666,766 |
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34,270,809 |
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Net income per common share |
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Basic |
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$ |
0.86 |
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$ |
0.09 |
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Diluted |
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$ |
0.74 |
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$ |
0.09 |
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Net income per common share information for the years ended December 31, 2025 and 2024 reflects only the net income attributable to holders of Biote’s Class A common stock, as well as both basic and diluted weighted average Class A common stock outstanding. Net income per common share is not separately presented for Class V voting stock because it has no economic rights to the income or loss of the Company. Class V voting stock is considered in the calculation of dilutive net income per common share on an if-converted
basis as these shares, together with the non-controlling interests, have redemption rights into Class A common stock that could result in additional Class A common stock being issued. All other potentially dilutive securities are determined based on the treasury stock method.
The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted weighted average shares outstanding for the periods indicated because including them would have had an antidilutive effect:
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Year Ended December 31, |
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2025 |
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2024 |
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RSUs |
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— |
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69,827 |
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Stock Options |
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11,723,265 |
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10,310,571 |
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Class V Voting Stock |
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— |
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5,221,653 |
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Member Earnout Units |
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2,028,226 |
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2,028,226 |
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Sponsor Earnout Shares |
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1,587,500 |
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1,587,500 |
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15,338,991 |
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19,217,777 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 14, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.