Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2022

17.

NET INCOME (LOSS) PER COMMON SHARE

The computation of basic and diluted net income (loss) per common share is based on net income (loss) attributable to Biote stockholders divided by the basic and diluted weighted average number of shares of Class A common stock outstanding, each for the period subsequent to the consummation of the Business Combination. The following table sets forth the computation of net income (loss) per common share:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022		2022
Net income (loss) per common share
Numerator:
Net income (loss) attributable to biote Corp. stockholders (basic and diluted)	$	15	$	(2,591	)
Denominator:
Weighted average shares outstanding (basic and diluted)		7,605,031		7,596,379
Net income (loss) per common share
Basic	$	0.00	$	(0.34	)
Diluted	$	0.00	$	(0.34	)

On the Closing Date, the Company completed the Business Combination which materially impacted the number of shares outstanding, and the Company was organized in an Up-C structure. Net income (loss) per common share information for the three and nine months ended September 30, 2022 has been presented on a prospective basis and reflects only the net income (loss) attributable to holders of Biote’s Class A common stock, as well as both basic and diluted weighted average Class A common stock outstanding, for the period from the Closing Date through September 30, 2022. Net income (loss) per common share information prior to the Closing Date is not presented since the ownership structure of Holdings is not a common unit of ownership of the Company, and the resulting values would not be meaningful to the users of the condensed consolidated financial statements. Net income (loss) per common share is not separately presented for Class V voting stock since it has no economic rights to the income or loss of the Company. Class V voting stock is considered in the calculation of dilutive net income (loss) per common share on an if-converted basis as these shares, together with the related Holdings Units, have Exchange Rights into Class A common stock that could result in additional Class A common stock being issued. All other potentially dilutive securities are determined based on the treasury stock method. See Note 1 for more information regarding the Business Combination.

The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted weighted average shares outstanding for the periods indicated because including them would have had an antidilutive effect:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022		2022
RSUs		2,905,015		2,905,015
Stock Options		4,250,173		4,250,173
Class V Voting Stock		48,565,824		48,565,824
Public Warrants		7,937,466		7,937,466
Private Placement Warrants		5,566,666		5,566,666
Earnout Voting Shares		10,000,000		10,000,000
Sponsor Earnout Shares		1,587,500		1,587,500
		80,812,644		80,812,644