BioTE

What BioTE does

BioTE (legal entity Biote Medical, LLC) is a US-based, publicly traded (NASDAQ: BTMD) hormone optimization company founded in 2012 and headquartered in Irving, Texas. The company provides bioidentical hormone replacement therapy (BHRT) using subcutaneous pellets (testosterone and estrogen) that are custom-compounded, inserted in-office, and release consistent hormone doses over 3-6 months. Supporting technology includes a proprietary Clinical Decision Support Software that assists certified providers with diagnosis, dosage, and delivery-method recommendations, and a vertically integrated manufacturing footprint via the Q1 2024 acquisition of Asteria Health, an FDA-registered 503B outsourcing facility producing compounded bioidentical hormones.

BioTE operates a B2B2C go-to-market model: rather than selling directly to consumers, it trains and certifies a network of healthcare providers (OB/GYNs, family medicine, internal medicine, med spas, urologists) through a national training center plus five regional training centers, supported by 66 clinical mentors, 7 medical advisors, and 10 clinical faculty members. The certified network spans 9,200+ providers across 5,300+ clinics in all 50 US states, with the company also indicating operating presence in Canada and Mexico. Revenue is generated primarily through procedure-based supply sales to this provider network (71% of 2025 revenue at $137.0M, down 8.8% YoY) and through Biote Nutraceuticals (vitamins D and K, iodine and other supplements) which contributed $42.9M, up 19.1% YoY.

Financially, BioTE reported FY2025 revenue of $192.2M (down 2.5% from $197.2M in 2024) and net income of $31.6M, a sharp improvement from $0.05M in 2024, with 2026 guidance for revenue above $190M and adjusted EBITDA above $38M. The company faces material recent developments: a voluntary recall of certain Asteria Health compounded pellets in January 2026 due to potential metal particulate matter contamination, and a leadership transition in June 2026 with CEO Bret Christensen's departure and CFO Bob Peterson named Interim CEO, alongside the appointment of Dr. Komal Bajaj as Chief Medical Officer. BioTE is also investing in commercial scale, with its sales force expanding from approximately 60 to 90 representatives in 2025 and a planned further increase to approximately 120 in 2026.

Name

BioTE

Legal name

Biote Medical, LLC

Website

https://biote.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

251–500 employees

Short description

BioTE is a publicly traded (NASDAQ: BTMD) US hormone optimization company that trains and certifies a network of 9,200+ healthcare providers across 5,300+ clinics to deliver custom-compounded bioidentical hormone pellet therapy to patients experiencing menopause, andropause, and other hormone imbalances.

Ownership category

akta.pro rank

Product category

Bioidentical Hormone Replacement Therapy

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Women’s Health & Reproductive Specialty Pharmaceuticals (HLAIACAN)

Keywords

• Bioidentical hormone therapy
• Hormone pellet therapy
• BHRT training certification
• Hormone optimization products
• Compounded hormone pellets

Headquarters

HQ city

Irving

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Operations

Revenue model

1. Procedure Revenue: Revenue from hormone pellet insertion procedures performed by certified provider network. This is the primary revenue stream, representing approximately 71% of total revenue ($137.0M of $192.2M in 2025).
2. Dietary Supplements (Nutraceuticals): Sale of nutraceutical products including vitamins D and K, minerals like iodine, and other supplements that complement hormone therapies. Revenue grew 19.1% to $42.9 million in 2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

BioTE provides bioidentical hormone replacement therapy (BHRT) through custom-compounded subcutaneous hormone pellets (testosterone and estrogen) that are inserted in-office by certified providers and deliver consistent dosing over 3-6 months. The company operates a B2B2C model, training and certifying more than 9,200 healthcare providers across 5,300+ US clinics and supplying proprietary pellets, dosing software, and clinical protocols, while also selling complementary nutraceuticals and peptide therapeutics.

Product overview

BioTE offers a portfolio of bioidentical hormone replacement therapy (BHRT) products and services centered on its core pellet therapy platform. The flagship offering consists of subcutaneous bioidentical hormone pellets (testosterone and estrogen), which are customized based on individual patient lab work and inserted during in-office procedures. These pellets are supported by the proprietary Clinical Decision Support Software for provider dosing decisions. Complementary products include Biote Nutraceuticals (vitamins and minerals) and Prescription Peptide Therapeutics for expanded wellness support. The company also operates a provider certification and training network spanning over 9,200 clinicians. Through its acquisition of Asteria Health, BioTE controls manufacturing of its compounded hormone pellets.

Differentiator

Problem solved

Functional benefit

Products and services

• Bioidentical Hormone Replacement Therapy (BHRT) Pellet Therapy Subcutaneous bioidentical hormone pellets containing testosterone or estrogen, custom-compounded for each patient and inserted in-office by certified providers, releasing consistent doses of hormones over 3-6 months.
• Testosterone Pellets Bioidentical testosterone pellet therapy for men and women experiencing hormone imbalance; custom-compounded pellets inserted subcutaneously in the upper buttocks.
• Estrogen Pellets Bioidentical estrogen (estradiol) pellet therapy for women, using pellets with hormones molecularly identical to those produced naturally in the body.
• Biote Nutraceuticals

Quantifiable outcome

• Less than 1% rate of implementation-related adverse events
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Asteria HealthcoreStrategic or Co-development Partner · 13 March 2024Asteria Health was acquired by Biote in Q1 2024 for up to $9 million in an all-cash deal. Asteria Health is a privately held manufacturer of compounded bioidentical hormones. The acquisition was intended to enhance Biote's supply chain control and product development capabilities. Asteria Health initiated a voluntary recall of certain hormone pellets in January 2026 due to potential metal particulate matter contamination.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Pellecome: Bioidentical hormone pellet manufacturer and provider education platform; overlaps with BioTE on pellet product supply and provider training, though smaller and B2B-focused.
• BodyLogicMD: Largest direct competitor to BioTE; operates a network of physicians offering bioidentical hormone replacement therapy (including pellets) and preventive wellness, mirroring BioTE's B2B2C training-and-certify model.
• Evexia Health Solutions: BHRT-focused company built around a certified provider network and pellet-based hormone optimization, competing head-to-head with BioTE for physician practices and clinic onboarding.
• SottoPelle: Original pioneers of subcutaneous hormone pellet therapy with their own physician training and certification infrastructure; competes in the same procedure, dosing, and methodology category as BioTE.
• Defy Medical: Direct-to-patient hormone optimization clinic and telehealth provider specializing in testosterone and BHRT, competing for the same patient base BioTE providers serve.

Broad incumbents

• TherapeuticsMD (a Mayne Pharma company): Women's-health-focused pharmaceutical company (now under Mayne Pharma) commercializing FDA-approved hormone therapy products (e.g., BIJUVA, IMVEXXY); adjacent category through prescription hormone therapy vs. compounded pellets.
• AbbVie: Global pharmaceutical major with an established women's health and hormone-therapy portfolio; competes as an incumbent supplier of branded hormone therapies rather than compounded pellets.
• Pfizer: Diversified pharma with branded hormone-therapy and women's-health products; competes broadly for hormone-related indications and patient/physician mindshare, though not in the compounded pellet niche.
• Bayer: Major women's health incumbent (contraceptives, HRT, menopause products); not in compounded pellets but competes for the same patient demographic and physician-prescribing attention.

Emerging players

• Ritual: Direct-to-consumer women's health supplement brand; competes with BioTE's nutraceutical line for the same consumer on women's hormonal, prenatal, and perimenopause categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/biotemedical
• Facebookfacebook.com/BioTEMedical

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BioTE