biote Corp.
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 13, 2026
BTMD$1.08-2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating Activities | ||
| Net income | $31,597 | $46 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 3,670 | 3,574 |
| Bad debt expense | 1,721 | 1,490 |
| Amortization of debt issuance costs | 833 | 819 |
| Provision for obsolete inventory | 2,023 | 503 |
| Non-cash lease expense | 545 | 815 |
| Non-cash interest on share repurchase liability | 3,184 | 2,620 |
| Share-based compensation expense | 8,921 | 8,735 |
| (Gain) loss from change in fair value of earnout liabilities | (13,023) | 19,605 |
| Deferred income taxes | 3,975 | (2,898) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (958) | (2,267) |
| Inventory | (6,242) | 3,714 |
| Other assets | 1,694 | 2,882 |
| Accounts payable | 1,013 | 1,545 |
| Deferred revenue | (400) | 190 |
| Accrued expenses | (2,743) | 4,632 |
| Payments pursuant to TRA | (93) | — |
| Operating lease liabilities | (523) | (762) |
| Net cash provided by operating activities | 35,194 | 45,243 |
| Investing Activities | ||
| Purchases of property and equipment | (5,015) | (6,430) |
| Purchases of capitalized software | (1,849) | (526) |
| Acquisitions, net of cash acquired | — | (11,842) |
| Net cash used in investing activities | (6,864) | (18,798) |
| Financing Activities | ||
| Repurchases of Class A common stock | (3,365) | (5,599) |
| Borrowings on revolving loans | 5,000 | — |
| Principal repayments on term loan | (6,250) | (6,250) |
| Payments on repurchase liability | (37,581) | (62,162) |
| Proceeds from exercise of stock options | 226 | 2,390 |
| Issuance of stock under purchase plan | 142 | 282 |
| Distributions | (1,727) | (4,744) |
| Net cash used in financing activities | (43,555) | (76,083) |
| Effect of exchange rate changes on cash and cash equivalents | 6 | (22) |
| Net decrease in cash and cash equivalents | (15,219) | (49,660) |
| Cash and cash equivalents at beginning of period | 39,342 | 89,002 |
| Cash and cash equivalents at end of period | $24,123 | $39,342 |
| Supplemental Disclosure of Cash Flow Information | ||
| Cash paid for interest | $7,877 | $9,535 |
| Cash paid for income taxes | $2,752 | $2,593 |
| Non-cash investing and financing activities | ||
| Capital expenditures and capitalized software included in accounts payable | $— | $50 |
| Shares issued to acquire Simpatra | $— | $1,841 |
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