XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue        
Total revenue $ 41,359 $ 34,750 $ 78,502 $ 66,293
Cost of revenue (excluding depreciation and amortization included in selling, general, and administrative, below)        
Cost of revenue 13,537 11,640 25,814 23,001
Commissions 363 464 579 1,041
Marketing 1,114 1,059 2,355 1,808
Selling, general, and administrative 111,948 11,327 125,594 20,790
Income (loss) from operations (85,603) 10,260 (75,840) 19,653
Other income (expense) net :        
Interest expense (794) (425) (1,153) (917)
Gain from change in fair value of warrant liability 3,399   3,399  
Gain from change in fair value of earnout liability 123,350   123,350  
Loss from extinguishment of debt (445)   (445)  
Other income 88 4 98 8
Total other income (expense), net 125,598 (421) 125,249 (909)
Income before provision for income taxes 39,995 9,839 49,409 18,744
Income tax expense (benefit) (346) 78 (282) 142
Net income 40,341 9,761 49,691 18,602
Less: Net income (loss) attributable to noncontrolling interest (75,115)   (65,765)  
Net income attributable to biote Corp 115,456   115,456  
Other comprehensive income (loss):        
Foreign currency translation adjustments (5) 10 1 1
Other comprehensive income (loss) (5) 10 1 1
Comprehensive income $ 40,336 9,771 $ 49,692 18,603
Net income per common share        
Basic $ 15.24   $ 15.24  
Diluted $ 2.01   $ 2.01  
Weighted average common shares outstanding        
Basic 7,574,271   7,574,271  
Diluted 57,434,067   57,434,067  
Product Revenue        
Revenue        
Total revenue $ 40,789 34,307 $ 77,547 65,500
Cost of revenue (excluding depreciation and amortization included in selling, general, and administrative, below)        
Cost of revenue 12,984 11,019 24,641 21,896
Service Revenue        
Revenue        
Total revenue 570 443 955 793
Cost of revenue (excluding depreciation and amortization included in selling, general, and administrative, below)        
Cost of revenue $ 553 $ 621 $ 1,173 $ 1,105