The following is a summary of the Biote Corp. (BTMD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Biote's Q1 2024 revenue increased by 4.4%, largely due to a 6.6% growth in procedure revenue, slightly offset by an 11.3% decrease in dietary supplement revenue.

• Adjusted EBITDA increased by 8%, resulting in an EBITDA margin of over 30%.

• The company achieved a gross profit margin of 71.4% in Q1, mainly due to changes in product mix and successful cost management.

• Selling, general, and administrative expenses in the first quarter of 2024 amounted to $23.0 million.

Business Progress:

• The company launched BioteRx, expanding the potential for long-term growth.

• Biote acquired Asteria Health, enhancing efficiency and production capabilities.

• A settlement agreement with the company's founder resulted in the planned buyback of 18 million shares at an average price of $4.17 per share.

• Biote expects a growth revival in the nutraceutical business from H2 2024.

• The company began integrating Asteria, anticipating product enhancements and productivity gains in pellet manufacturing.

• New immersive and interactive training is planned for practitioners to improve cost efficiency and stimulate growth.

• The majority of hormone pellet production is expected to be internalized by the end of the year.

• Biote outlined strategies to maximize growth from new and top-tier growth customers.

• The company also plans to expand its product range, especially in nutrient supplementation.

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