Financial Performance - Total revenues for Q3 2024 were $53 million, a 12% increase from $47 million in Q3 2023[2] - Total revenues for the nine months ended September 30, 2024 were $160 million, representing a 23% increase from $131 million in the same period of 2023[10] - Net income for Q3 2024 was $2 million, down from $8 million in Q3 2023, while net income for the nine months was $40 million, a 60% increase from $25 million in the same period of 2023[4][5] - Gross profit for the nine months ended September 30, 2024, was $122,178,140, up 30% from $93,936,663 in the prior year[26] - Net income attributable to SBC Medical Group Holdings Incorporated for the three months ended September 30, 2024, was $2,832,894, down from $8,356,414 in the same period of 2023[26] - Comprehensive income attributable to SBC Medical Group Holdings Incorporated for the nine months ended September 30, 2024, was $41,575,160, compared to $5,626,457 in the prior year[26] - Net income for September 2024 was $40,142,008, an increase of 64.5% compared to $24,330,964 in September 2023[27] Operating Metrics - EBITDA for the nine months ended September 30, 2024 was $68 million, a 21% increase from the same period in 2023, with an EBITDA margin of 42%[4] - EBITDA for the three months ended September 2024 was $14,852,962, with an EBITDA margin of 28%, down from 49% in the same period last year[29] - Income from operations for the three months ended September 30, 2024, was $13,834,603, a decrease from $20,023,242 in the same period of 2023[26] - Total operating expenses for the nine months ended September 30, 2024, were $56,592,092, compared to $47,265,904 in the previous year[26] - Operating expenses increased to $29,404,487 for the three months ended September 30, 2024, compared to $13,475,134 in the same period last year, reflecting a significant rise in selling, general, and administrative expenses[26] Cash Flow and Liquidity - Cash and cash equivalents totaled $137.4 million as of September 30, 2024, up from $103 million at the end of 2023[13] - Net cash provided by operating activities was $27 million for the nine months ended September 30, 2024, a 23% increase from $22 million in the same period of 2023[14] - Net cash provided by operating activities increased to $27,886,231 in September 2024 from $22,753,983 in September 2023, representing a growth of 22.4%[27] - Cash and cash equivalents at the end of the period reached $137,393,070, up from $77,430,969 a year earlier, indicating a 77.5% increase[28] - The net cash used in investing activities was $(5,554,039) in September 2024, compared to a net cash provided of $8,659,196 in September 2023[28] Balance Sheet Highlights - Total assets increased to $296,478,592 as of September 30, 2024, up from $258,805,271 on December 31, 2023, representing a growth of approximately 14.5%[24] - Current assets rose to $202,099,828, compared to $165,905,926 at the end of 2023, marking an increase of about 21.7%[24] - Total liabilities decreased to $90,958,168 from $114,995,022, a reduction of about 20.9%[24] - Stockholders' equity surged to $205,520,424, up from $143,810,249, indicating an increase of approximately 43%[24] - Retained earnings improved to $182,923,786, compared to $142,848,732, showing a growth of about 28.1%[24] Other Key Metrics - The number of partner clinics increased to 224 as of September 30, 2024, up by 24 from the previous year[5] - The number of customers in the last twelve months reached 4.3 million, reflecting a year-over-year increase of 13.5%[6] - Return on equity for the nine months ended September 30, 2024 was 31%, a year-over-year increase of one percentage point[7] - Interest income for the nine months ended September 30, 2024, was $37,283, down from $86,345 in the same period of 2023[26] - The company emphasizes sustainable growth supported by a clear capital policy and a robust balance sheet[9]
Pono Capital Two(PTWO) - 2024 Q3 - Quarterly Results