Biote (BTMD) Operating Expenses (2021 - 2026)
Biote's Operating Expenses came in at $32.43 million for Q2 2026, up 32.4% from $24.48 million a year earlier and up 15.0% from the prior quarter.
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Analysis
Biote (BTMD) Operating Expenses (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Biote reported Operating Expenses of $112.31 million, up 3.2% year-over-year; for FY2025, it came in at $103.01 million, down 4.8% from FY2024.
- Operating Expenses carries a four-year compound annual growth rate of 18.1% (FY2021 to FY2025).
- Going back by year, Operating Expenses was $108.25 million in FY2024 (+8.7%), $99.63 million in FY2023 (-42.2%), $172.3 million in FY2022 (+225.8%) and $52.89 million in FY2021.
- The Q2 2026 figure represents the highest quarterly Operating Expenses since Q4 2024.
- Year-over-year, Operating Expenses increased in six of the last eight quarters, with growth averaging 6.9%.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2022 (growth of 850.5%), and the weakest in Q2 2023 (a decline of 77.1%).
- Business Quant data shows BTMD's Operating Expenses at $28.19 million (Q1 2026), $25.14 million (Q4 2025) and $26.55 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 94.08 Bn | 93.52 Bn | - | 17.74 Bn |
| 2 | Natera | 59.53 Bn | 55.21 Bn | 485.19 Mn | 828.54 Mn |
| 3 | Quest Diagnostics | 25.60 Bn | 24.03 Bn | 1.03 Bn | 2.58 Bn |
| 4 | Labcorp Holdings | 24.98 Bn | 22.75 Bn | 1.11 Bn | 582.30 Mn |
| 5 | Guardant Health | 23.75 Bn | 19.81 Bn | 219.03 Mn | 464.10 Mn |
| 6 | Tenet Healthcare | 20.75 Bn | 11.90 Bn | - | - |
| 7 | Tempus AI | 14.47 Bn | 11.50 Bn | 246.50 Mn | 458.40 Mn |
| 8 | Encompass Health | 12.19 Bn | 12.65 Bn | - | 1.31 Bn |
| 9 | Davita | 11.20 Bn | 9.97 Bn | 1.16 Bn | 2.98 Bn |
| 10 | Biote | 51.02 Mn | -10.04 Mn | 28.92 Mn | 32.43 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.43 Mn |
| Mar 31, 2026 | 28.19 Mn |
| Dec 31, 2025 | 25.14 Mn |
| Sep 30, 2025 | 26.55 Mn |
| Jun 30, 2025 | 24.48 Mn |
| Mar 31, 2025 | 26.89 Mn |
| Dec 31, 2024 | 33.33 Mn |
| Sep 30, 2024 | 24.12 Mn |
| Jun 30, 2024 | 27.78 Mn |
| Mar 31, 2024 | 23.03 Mn |
| Dec 31, 2023 | 26.29 Mn |
| Sep 30, 2023 | 23.99 Mn |
| Jun 30, 2023 | 26.06 Mn |
| Mar 31, 2023 | 23.39 Mn |
| Dec 31, 2022 | 22.06 Mn |
| Sep 30, 2022 | 21.12 Mn |
| Jun 30, 2022 | 113.74 Mn |
| Mar 31, 2022 | 16.56 Mn |
| Dec 31, 2021 | 18.47 Mn |
| Sep 30, 2021 | 12.75 Mn |
API Access
Biote Operating Expenses 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=operating-expenses&ticker=BTMD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=BTMD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();