biote Corp. (BTMD) · 10+ Years of Financial statements

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	110	117	139	165	185
+ Sales & Services Revenue	110	117	139	165	185
- Cost of Revenue	44	45	49	55	58
+ Cost of Goods & Services	44	45	49	55	58
Gross Profit	66	72	91	110	127
+ Other Operating Income	- -	- -	- -	- -	- -
- Operating Expenses	43	40	56	171	99
+ Selling, General & Admin	39	37	54	171	99
+ Research & Development	- -	- -	- -	- -	- -
+ Other Operating Expense	4	2	2	- -	- -
Operating Income (Loss)	24	32	35	-61	29
- Non-Operating (Income) Loss	2	2	2	-62	29
+ Interest Expense, Net	2	2	2	4	6
+ Interest Expense	2	2	2	4	6
- Interest Income	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	- -	-66	22
Pretax Income	21	29	33	2	- -
- Income Tax Expense (Benefit)	- -	- -	- -	- -	3
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	21	29	33	1	-3
- Net Extraordinary Losses (Gains)	- -	- -	- -	5	-12
+ Discontinued Operations	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	5	-12
Income (Loss) Incl. MI	21	29	33	-3	9
- Minority Interest	- -	- -	- -	-2	6
Net Income, GAAP	21	29	33	-1	3
- Preferred Dividends	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	21	29	33	-1	3
Basic Weighted Avg Shares	8	8	8	8	26
Basic EPS, GAAP	2.81	3.85	4.31	-0.12	0.13
Basic EPS from Cont Ops	2.81	3.85	4.31	0.16	-0.11
Diluted Weighted Avg Shares	8	8	8	8	26
Diluted EPS, GAAP	2.81	3.85	4.31	-0.12	0.13
Diluted EPS from Cont Ops	2.81	3.85	4.31	0.16	-0.11
EBITDA	24	33	36	-59	32
EBITDA Margin (%)	22.15	28.24	25.8	-35.48	17.08
EBITA	24	32	35	-61	29
EBIT	24	32	35	-61	29
Gross Margin (%)	60.39	61.46	64.98	66.92	68.78
Operating Margin (%)	21.39	27.26	24.79	-36.81	15.46
Profit Margin (%)	19.36	25.02	23.4	-0.59	1.79
Sales per Employee	- -	- -	- -	886,866	955,464
Dividend per Share	7.48	1.76	1.51	1.6	0.34
Depreciation Expense	1	1	1	2	3

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	- -	28	47	101	122
+ Cash, Cash Equivalents & STI	- -	17	27	79	89
+ Cash & Cash Equivalents	- -	17	27	79	89
+ ST Investments	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	5	5	7	8
+ Accounts Receivable, Net	- -	5	5	7	7
+ Notes Receivable, Net	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	1
+ Inventories	- -	4	10	11	17
+ Raw Materials	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -
+ Finished Goods	- -	4	10	11	17
+ Inventory Adjustments	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -
+ Other ST Assets	- -	2	5	4	8
+ Prepaid Expenses	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	5	7	10	33
+ Property, Plant & Equip, Net	- -	2	3	4	3
+ Property, Plant & Equip	- -	5	6	8	9
- Accumulated Depreciation	- -	3	4	5	6
+ LT Investments & Receivables	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -
+ Other LT Assets	- -	3	5	7	30
+ Total Intangible Assets	- -	3	5	5	5
+ Goodwill	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	3	5	5	5
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	2	25
Total Assets	- -	33	54	112	155
+ Payables & Accruals	- -	3	8	6	7
+ Accounts Payable	- -	2	4	4	4
+ Accrued Taxes	- -	- -	- -	1	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	1	4	1	2
+ ST Debt	- -	5	5	6	7
+ ST Borrowings	- -	5	5	6	6
+ ST Finance Leases	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	3	4	6	9
+ Deferred Revenue	- -	2	2	2	3
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	1	2	4	6
Total Current Liabilities	- -	12	17	19	22
+ LT Debt	- -	37	32	114	108
+ LT Borrowings	- -	37	32	112	107
+ LT Finance Leases	- -	- -	- -	2	2
+ Other LT Liabilities	- -	1	1	37	61
+ Accrued Liabilities	- -	1	1	1	1
+ Pension Liabilities	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	36	60
Total Noncurrent Liabilities	- -	38	33	151	170
Total Liabilities	- -	50	50	170	192
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -
+ Share Capital & APIC	- -	- -	- -	- -	- -
+ Common Stock	- -	- -	- -	- -	- -
+ Additional Paid in Capital	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	- -
+ Retained Earnings	- -	-17	4	-44	-29
+ Other Equity	- -	- -	- -	- -	- -
Equity Before Minority Interest	- -	-17	4	-44	-29
+ Minority/Non Controlling Interest	- -	- -	- -	-14	-7
Total Equity	- -	-17	4	-58	-37
Total Liabilities & Equity	- -	33	54	112	155
Shares Outstanding	8	8	8	10	34
Capital Leases - Total	- -	1	- -	2	2
Net Debt	- -	25	10	39	24
Net Debt to Equity	- -	-143.68	247.2	-67.11	-65.34
Tangible Common Equity Ratio	- -	-65.61	-0.86	-59.44	-27.62
Current Ratio	- -	2.38	2.72	5.39	5.51
Cash Conversion Cycle	- -	15.89	42.22	55.52	79.81
Number of Employees	- -	- -	- -	186	194

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	21	29	33	1	-3
+ Depreciation & Amortization	1	1	1	2	3
+ Non-Cash Items	1	2	1	23	36
+ Stock-Based Compensation	- -	- -	- -	82	9
+ Deferred Income Taxes	- -	- -	- -	-1	1
+ Asset Impairment Charge	- -	1	- -	- -	1
+ Other Non-Cash Adj	1	1	1	-58	25
+ Chg in Non-Cash Work Cap	2	-6	-1	-36	-9
+ (Inc) Dec in Accts Receiv	-1	-1	-1	-2	-1
+ (Inc) Dec in Inventories	1	-1	-6	-2	-6
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	2	-1	6	-30	2
+ Inc (Dec) in Other	-1	-2	-1	-2	-4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Operating Activities	25	26	34	-9	27
+ Change in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-2	-1	-4	- -	- -
+ Acq of Fixed Prod Assets	-1	- -	-1	- -	- -
+ Acq of Intangible Assets	-1	-1	-2	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	-2	-2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Investing Activities	-2	-1	-4	-2	-3
+ Dividends Paid	-57	-13	-11	-13	-9
+ Net Cash From Debt	44	-5	-5	84	-6
+ Cash From Debt	64	- -	- -	125	- -
+ Repayments of Debt	-20	-5	-5	-41	-6
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -
+ Increase in Capital Stock	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -
+ Other Financing Activities	-1	- -	-4	-8	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Financing Activities	-14	-18	-20	63	-14
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -
Net Changes in Cash	10	7	10	52	10
EBITDA	24	33	36	-59	32
EBITDA Margin (%)	22.15	28.24	25.8	-35.48	17.08
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -
Free Cash Flow	24	25	30	-9	27
Free Cash Flow to Firm	26	27	32	-6	- -
Free Cash Flow to Equity	- -	21	27	75	20
Free Cash Flow per Basic Share	3.13	3.3	3.95	-1.18	1.03
Price/Free Cash Flow	- -	- -	- -	-3.32	4.74
Cash Flow to Net Income	1.19	0.91	1.03	9.45	8.11

biote Corp.

BTMD US

6.38