Biote (BTMD) Gross Margin (2021 - 2026)
Biote's Gross Margin was 65.38% in Q2 2026, down 6.23 percentage points from 71.60% a year earlier and down 3.51 percentage points from the prior quarter.
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Analysis
Biote (BTMD) Gross Margin (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, Biote's Gross Margin was 68.58% through Jun 30, 2026, down 3.39 percentage points year-over-year; for FY2025, it came in at 71.46%, up 0.94 percentage points from FY2024.
- Gross Margin has now increased for four consecutive years, with a four-year change of +6.48 percentage points (FY2021 to FY2025).
- In earlier years, Gross Margin was 70.52% in FY2024 (+1.75 pp), 68.78% in FY2023 (+1.86 pp), 66.92% in FY2022 (+1.94 pp) and 64.98% in FY2021.
- The Q2 2026 figure marks the lowest quarterly Gross Margin since Q4 2022.
- Compared with a year earlier, Gross Margin has declined for three straight quarters, with an average year-over-year change of -0.53 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was Q4 2023 (a gain of 4.03 percentage points); the worst was Q2 2026 (a drop of 6.23 percentage points).
- Per Business Quant data, BTMD's Gross Margin in the three quarters before Q2 2026 was 68.88% (Q1 2026), 68.03% (Q4 2025) and 71.77% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.37 Bn | 104.21 Bn | 17.03 Bn | 85.78% |
| 2 | Natera | 45.03 Bn | 40.66 Bn | 513.47 Mn | 64.67% |
| 3 | Labcorp Holdings | 30.12 Bn | 28.22 Bn | 1.11 Bn | 29.08% |
| 4 | Quest Diagnostics | 28.44 Bn | 26.52 Bn | 1.04 Bn | 33.65% |
| 5 | Guardant Health | 20.93 Bn | 16.54 Bn | 236.15 Mn | 65.42% |
| 6 | BrightSpring Health Services | 14.41 Bn | 11.29 Bn | 518.55 Mn | 12.31% |
| 7 | Tempus AI | 14.27 Bn | 11.42 Bn | 266.70 Mn | 64.81% |
| 8 | Encompass Health | 13.98 Bn | 14.44 Bn | 1.54 Bn | 95.96% |
| 9 | Davita | 11.35 Bn | 10.22 Bn | 1.13 Bn | 31.50% |
| 10 | Biote | 42.67 Mn | 961,552.38 | 29.33 Mn | 67.69% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 67.69% |
| Jun 30, 2026 | 65.38% |
| Mar 31, 2026 | 68.88% |
| Dec 31, 2025 | 68.03% |
| Sep 30, 2025 | 71.77% |
| Jun 30, 2025 | 71.60% |
| Mar 31, 2025 | 74.26% |
| Dec 31, 2024 | 71.83% |
| Sep 30, 2024 | 70.27% |
| Jun 30, 2024 | 68.76% |
| Mar 31, 2024 | 71.26% |
| Dec 31, 2023 | 69.36% |
| Sep 30, 2023 | 68.90% |
| Jun 30, 2023 | 67.87% |
| Mar 31, 2023 | 69.05% |
| Dec 31, 2022 | 65.33% |
| Sep 30, 2022 | 68.22% |
| Jun 30, 2022 | 67.27% |
| Mar 31, 2022 | 66.95% |
| Dec 31, 2021 | 63.97% |
API Access
Biote Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=BTMD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "BTMD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=BTMD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();