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biote vs Natural Alternatives International: revenue, profit, margins and growth compared

biote brought in $192.2M of revenue in fiscal 2025, Natural Alternatives International $129.9M in fiscal 2025. Revenue changed by -2.5% at biote and +14.1% at Natural Alternatives International on the year before, so Natural Alternatives International grew faster. biote kept 14.1% of its revenue as net profit, Natural Alternatives International -10.5%. Free cash flow was $30.2M at biote and $2.3M at Natural Alternatives International.

Side by side, latest fiscal year

BTMDNAII
Fiscal year endedFY2025 (December 31, 2025)FY2025 (June 30, 2025)
Revenue$192.2M$129.9M
Revenue growth-2.5%+14.1%
Net income$27M-$13.6M
Net margin14.1%-10.5%
Free cash flow$30.2M$2.3M
Free cash flow margin15.7%1.8%
Earnings per share (diluted)$0.74-$2.28
Cash$24.1M$12.3M
Debt$103.1Mn/a
Price to earnings1.6n/a
Market value$43.8M$11M
Dividend yieldn/an/a
Rank by revenue in sector#260 of 646 · Health care#286 of 646 · Health care

Over the years

Revenue
BTMD FY2021: $139.4MBTMD FY2022: $165MBTMD FY2023: $185.4MBTMD FY2024: $197.2MBTMD FY2025: $192.2MNAII FY2018: $132.4MNAII FY2019: $138.3MNAII FY2020: $118.9MNAII FY2021: $178.5MNAII FY2022: $171MNAII FY2023: $154MNAII FY2024: $113.8MNAII FY2025: $129.9MFY18FY19FY20FY21FY22FY23FY24FY25
BTMD $192.2MNAII $129.9M
Net income
BTMD FY2021: $11.1MBTMD FY2022: -$969KBTMD FY2023: $3.3MBTMD FY2024: $3.2MBTMD FY2025: $27MNAII FY2018: $5.1MNAII FY2019: $6.5MNAII FY2020: -$1.6MNAII FY2021: $10.8MNAII FY2022: $10.7MNAII FY2023: $2.5MNAII FY2024: -$7.2MNAII FY2025: -$13.6MFY18FY19FY20FY21FY22FY23FY24FY25
BTMD $27MNAII -$13.6M
Net margin
BTMD FY2021: 8.0%BTMD FY2022: -0.6%BTMD FY2023: 1.8%BTMD FY2024: 1.6%BTMD FY2025: 14.1%NAII FY2018: 3.8%NAII FY2019: 4.7%NAII FY2020: -1.4%NAII FY2021: 6.0%NAII FY2022: 6.3%NAII FY2023: 1.6%NAII FY2024: -6.3%NAII FY2025: -10.5%FY18FY19FY20FY21FY22FY23FY24FY25
BTMD 14.1%NAII -10.5%
Revenue growth
BTMD FY2022: +18.3%BTMD FY2023: +12.4%BTMD FY2024: +6.4%BTMD FY2025: -2.5%NAII FY2019: +4.4%NAII FY2020: -14.0%NAII FY2021: +50.2%NAII FY2022: -4.2%NAII FY2023: -9.9%NAII FY2024: -26.1%NAII FY2025: +14.1%FY19FY20FY21FY22FY23FY24FY25
BTMD -2.5%NAII +14.1%
Free cash flow
BTMD FY2021: $32.3MBTMD FY2022: -$9.5MBTMD FY2023: $26.5MBTMD FY2024: $38.8MBTMD FY2025: $30.2MNAII FY2018: -$2.2MNAII FY2019: $1.2MNAII FY2020: -$850KNAII FY2021: $15.7MNAII FY2022: -$14.6MNAII FY2023: -$6.5MNAII FY2024: -$4.5MNAII FY2025: $2.3MFY18FY19FY20FY21FY22FY23FY24FY25
BTMD $30.2MNAII $2.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about biote and Natural Alternatives International

Which is bigger by revenue, biote or Natural Alternatives International?

biote is bigger by revenue: $192.2M in fiscal 2025, against $129.9M for Natural Alternatives International in fiscal 2025.

Which keeps more of its revenue as profit, biote or Natural Alternatives International?

biote had a net margin of 14.1% in fiscal 2025; Natural Alternatives International had -10.5% in fiscal 2025.

Which grew revenue faster, biote or Natural Alternatives International?

In their latest fiscal years revenue changed by -2.5% at biote and +14.1% at Natural Alternatives International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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