The company exhibits a vulnerable capital structure with negative equity of $56.1 million and a substantial debt load of $108.4 million as of 2026Q1.
| Total Current Assets | 36.36M | 54.67M | 68.13M | 122.34M | 101.18M | 47.09M | 27.82M | 19.3M |
| Cash & Short-Term Investments | 5.32M | 24.12M | 39.34M | 89M | 79.23M | 26.77M | 17.21M | 10.49M |
| Cash Only | 5.32M | 24.12M | 39.34M | 89M | 79.23M | 26.77M | 17.21M | 10.49M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 7.4M | 6.87M | 7.7M | 8.17M | 6.95M | 5.23M | 4.72M | 4.02M |
| Days Sales Outstanding | 15.23 | 13.04 | 14.26 | 16.1 | 15.37 | 13.7 | 14.78 | 13.33 |
| Inventory | 19.88M | 19.06M | 14.85M | 17.31M | 11.18M | 9.62M | 4.32M | 3.92M |
| Days Inventory Outstanding | 109.58 | 126.84 | 93.21 | 109.15 | 74.79 | 71.89 | 35.13 | 32.82 |
| Other Current Assets | 3.76M | 4.62M | 111K | 308K | 0 | 3.94M | 0 | 0 |
| Total Non-Current Assets | 52.68M | 52.94M | 54.24M | 32.95M | 10.47M | 7.25M | 4.76M | 4.59M |
| Property, Plant & Equipment | 13.26M | 13.45M | 10.22M | 3.1M | 3.56M | 2.69M | 2.17M | 2.76M |
| Fixed Asset Turnover | 14.33x | 14.29x | 19.30x | 59.89x | 46.39x | 51.80x | 53.84x | 39.79x |
| Goodwill | 5.83M | 5.83M | 5.83M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 9.03M | 4.27M | 9.38M | 4.97M | 5.07M | 4.55M | 2.6M | 1.82M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 72K | 4.6M | 72K | 0 | 0 | 0 | 0 | -4.59M |
| Total Assets | 89.03M | 107.61M | 122.37M | 155.29M | 111.64M | 54.33M | 32.59M | 23.89M |
| Asset Turnover | 1.82x | 1.79x | 1.61x | 1.19x | 1.48x | 2.57x | 3.58x | 4.60x |
| Asset Growth % | -17.14% | -12.06% | -21.2% | 39.1% | 105.49% | 66.72% | 36.4% | - |
| Total Current Liabilities | 28.23M | 44.99M | 51.51M | 22.21M | 18.77M | 17.31M | 11.71M | 13.51M |
| Accounts Payable | 8.24M | 6.83M | 5.81M | 4.16M | 4.11M | 4.35M | 2.44M | 3.19M |
| Days Payables Outstanding | 37.79 | 45.42 | 36.5 | 26.2 | 27.5 | 32.52 | 19.86 | 26.72 |
| Short-Term Debt | 6.86M | 6.84M | 6.25M | 6.25M | 6.25M | 5M | 5M | 5M |
| Deferred Revenue (Current) | 12.08M | 3.02M | 2.96M | 3M | 1.97M | 1.71M | 2.04M | 0 |
| Other Current Liabilities | 10.28M | 28.31M | 30.32M | 6.07M | 4.22M | 2.21M | 1.36M | 2.58M |
| Current Ratio | 1.29x | 1.22x | 1.32x | 5.51x | 5.39x | 2.72x | 2.38x | 1.43x |
| Quick Ratio | 0.58x | 0.79x | 1.03x | 4.73x | 4.80x | 2.16x | 2.01x | 1.14x |
| Cash Conversion Cycle | 87.02 | 94.47 | 70.97 | 99.04 | 62.66 | 53.07 | 30.04 | 19.43 |
| Total Non-Current Liabilities | 108.76M | 113.02M | 173.06M | 169.63M | 151.15M | 32.89M | 37.95M | 43.31M |
| Long-Term Debt | 99.42M | 100.78M | 101.2M | 106.63M | 112.09M | 31.96M | 36.74M | 41.52M |
| Capital Lease Obligations | 9.49M | 2.3M | 2.89M | 1.68M | 1.93M | 127K | 375K | 614K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 6.28M | 8.84M | 67.41M | 59.99M | 36.21M | 0 | 0 | 1.17M |
| Total Liabilities | 136.99M | 158.01M | 224.57M | 191.84M | 169.92M | 50.2M | 49.66M | 56.82M |
| Total Debt | 108.42M | 109.92M | 110.86M | 114.87M | 120.43M | 37.34M | 42.35M | 47.13M |
| Net Debt | 103.1M | 85.8M | 71.52M | 25.87M | 41.2M | 10.57M | 25.15M | 36.65M |
| Debt / Equity | -2.26x | - | - | - | - | 9.05x | - | - |
| Debt / EBITDA | 3.41x | 2.80x | 3.15x | 3.90x | - | 1.04x | 1.29x | 1.93x |
| Net Debt / EBITDA | 3.24x | 2.19x | 2.03x | 0.88x | - | 0.29x | 0.76x | 1.50x |
| Interest Coverage | 3.02x | 3.24x | 1.09x | 6.09x | 1.42x | 20.67x | 13.10x | 11.27x |
| Total Equity | -47.95M | -50.4M | -102.2M | -36.55M | -58.27M | 4.13M | -17.07M | -32.93M |
| Equity Growth % | 186.88% | 50.69% | -179.65% | 37.29% | -1512.7% | 124.16% | 48.14% | - |
| Book Value per Share | -1.33 | -1.37 | -2.98 | -1.42 | -7.23 | 0.54 | -2.25 | -4.35 |
| Total Shareholders' Equity | -56.09M | -58.54M | -105.93M | -29.4M | -44.46M | 4.13M | -17.07M | -32.93M |
| Common Stock | 4K | 4K | 4K | 6K | 6K | 0 | 0 | 0 |
| Retained Earnings | -46.03M | -49.55M | -100.3M | -29.39M | -44.46M | 4.17M | -17.05M | -32.9M |
| Treasury Stock | -10.04M | -8.96M | -5.6M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -27K | -29K | -35K | -12K | -5K | -40K | -23K | -33K |
| Minority Interest | 8.14M | 8.14M | 3.73M | -7.15M | -13.81M | 0 | 0 | 0 |
Negative equity and liquidity
As reported in recent financial statements, Biote Corp.'s equity position has deteriorated significantly, moving from a negative $29.4 million in 2023Q4 to a negative $56.1 million by 2026Q1, signaling a sustained trend of capital impairment that warrants close investor scrutiny regarding long-term solvency.
The consistent expansion of negative retained earnings suggests that the company's operational model has struggled to generate sufficient returns to offset its accumulated losses. This trajectory indicates that the business is currently consuming its own capital base rather than building value, which may limit future strategic flexibility.
Based on the company's latest filings, cash reserves have plummeted from a peak of $89.0 million in 2023Q4 to just $5.3 million in 2026Q1, representing a rapid depletion of liquidity that leaves the firm with a narrow margin for error in its operational execution.
The sharp decline in cash, coupled with a current ratio of 1.29, suggests that the company's ability to fund ongoing operations or respond to unforeseen regulatory shocks is increasingly constrained. Investors should monitor whether this liquidity contraction necessitates future dilutive financing or aggressive cost-cutting measures.
According to quarterly data, Biote Corp. maintains a substantial debt load of $108.4 million as of 2026Q1, which, when viewed against a negative equity position, highlights a highly leveraged capital structure that leaves little room for operational volatility or interest rate sensitivity.
The persistence of debt levels near $100 million despite declining cash balances suggests that the company is heavily reliant on external financing to maintain its current scale. This leverage profile appears to be a necessity-driven burden that complicates the firm's ability to pivot its business model without significant capital restructuring.
As indicated by the balance sheet, the company's asset base is heavily weighted toward intangible and non-liquid items, with net PPE of $13.3 million and goodwill of $5.8 million, which may overstate the tangible value available to creditors in a potential liquidation scenario.
The reliance on these asset categories suggests that the company's book value is not supported by significant hard assets, potentially masking the true extent of the firm's financial vulnerability. This composition warrants further investigation into the recoverability of these assets should the core practitioner network experience further attrition.
Quick answers to the most common questions about buying BTMD stock.
As of 2025, biote Corp. (BTMD) had total assets of $107.6M including $54.7M in current assets.
biote Corp. (BTMD) carries total debt of $109.9M, offset by $24.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
biote Corp. (BTMD) has total shareholders' equity (book value) of $-58.5M ($-1.37 book value per share). Book value represents the net worth of the company belonging to common stock holders.
biote Corp. (BTMD) reported a current ratio of 1.22x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.