biote Corp. Leases Disclosure
On July 1, 2014, BioTE Medical entered into a contract to lease office space in the Las Colinas Business Center in Irving, TX. Subsequent to execution of the contract, the Company revised the lease to include additional space and extend the lease term through June 30, 2023. On November 1, 2022, the Company executed an extension of lease office space to extend through November 30, 2028. This extension included an additional 3,700 square feet of space that would be available for use in December of 2023, which would be included in monthly rent payments at this date accordingly.
On September 11, 2024, the Company entered into a 60-month operating lease agreement for approximately 19,076 square feet of office space in Birmingham, Alabama that will be used by Asteria Health to expand its compounded bioidentical hormones manufacturing facility capabilities. The Company recorded an initial operating lease right-of-use asset of $1.4 million and corresponding current and non-current operating lease liability of $0.04 million and $1.3 million, respectively, at the lease commencement date.
The Company recognizes operating lease costs on a straight-line basis over the lease term within Selling, general and administrative expense in the consolidated statements of operations and comprehensive income. The following table contains a summary of the operating lease costs recognized under ASC 842 and supplemental cash flow information for leases:
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Year Ended December 31, |
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2025 |
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2024 |
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Fixed lease expense |
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$ |
770 |
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|
$ |
640 |
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Total lease cost |
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$ |
770 |
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$ |
640 |
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Other information: |
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Cash paid for amounts included in the measurement of lease liabilities |
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$ |
748 |
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|
$ |
557 |
|
Right-of-use assets obtained in exchange for new operating lease liabilities |
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$ |
— |
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|
$ |
1,779 |
|
The following table summarizes the balance sheet classification of the Company’s operating leases, amounts of ROU assets and lease liabilities, the weighted average remaining lease term, and the weighted average discount rate for the Company’s operating leases:
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December 31, |
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December 31, |
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(in thousands) |
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2025 |
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|
2024 |
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Lease assets |
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Operating lease right-of-use assets |
|
$ |
2,701 |
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|
$ |
3,246 |
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Total lease assets |
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$ |
2,701 |
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$ |
3,246 |
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Lease liabilities |
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Current: |
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Operating lease liabilities |
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$ |
592 |
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$ |
523 |
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Non-current: |
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Operating lease liabilities |
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|
2,298 |
|
|
|
2,890 |
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Total lease liabilities |
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$ |
2,890 |
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|
$ |
3,413 |
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Weighted-average remaining lease term — operating leases (years) |
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|
5.59 |
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|
|
6.30 |
|
Weighted-average discount rate — operating leases |
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|
7.10 |
% |
|
|
7.20 |
% |
The following table summarizes the payments by date for the Company’s operating lease, which is then reconciled to the Company’s total lease obligation:
As of December 31, |
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(in thousands) |
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2026 |
|
$ |
774 |
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2027 |
|
|
801 |
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2028 |
|
|
701 |
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2029 |
|
|
185 |
|
2030 |
|
|
192 |
|
Thereafter |
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|
829 |
|
Total lease payments |
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|
3,482 |
|
Less: Interest |
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|
(592 |
) |
Present value of lease liabilities |
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$ |
2,890 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 14, 2025 | |
| 2023 | Mar 15, 2024 | |
| 2022 | Mar 29, 2023 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.