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- Material Weakness (worsened) — Material weakness in internal controls remains unremediated after six years, now extending into Q1 2026 with no assurance of FY2026 remediation.
Biote Q1 revenue falls 8% on voluntary pellet recall; cash drops to $5M as legal costs surge
Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read
Key Changes
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Voluntary recall of hormone pellets (metal particulate risk) cut Q1 revenue by ~$1.7M and forced shift to higher-cost third-party suppliers, compressing gross margins. Company added second manufacturing shift to restore supply.
MD&A: Voluntary Recall verify on EDGAR → -
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Cash plunged from $24M to $5M in Q1 2026 as company paid final $18.5M on share repurchase liabilities and drew $5M on revolving credit. Operating cash flow fell 40% to $3.9M on lower profitability.
MD&A: Liquidity verify on EDGAR → -
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Legal expenses jumped $3.3M in Q1 2026 to settle multiple matters (Cindy Latch case settled for $80K; Right Value final payment made). Gary Donovitz name-image-likeness litigation removed from disclosure without explanation.
Controls & Legal Proceedings verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 3, 2026 · How we verify