Revenue and Income - Total revenues for Q1 2025 were $47 million, a 14% year-over-year decrease due to the discontinuation of the staffing business and divestitures [4]. - Total revenues for the three months ended March 31, 2025, were $47,328,701, a decrease of 13.7% compared to $54,808,042 for the same period in 2024 [17]. - Net income attributable to SBC Medical Group increased by 15% year-over-year to $22 million, compared to $19 million in Q1 2024 [6]. - Net income attributable to SBC Medical Group Holdings Incorporated for Q1 2025 was $21,502,446, representing an increase of 14.7% from $18,757,752 in Q1 2024 [17]. EBITDA and Margins - EBITDA for Q1 2025 was $25 million, representing a 3% year-over-year decrease, with an EBITDA margin of 52%, up from 46% in Q1 2024 [4]. - EBITDA for the three months ended March 31, 2025, was $24,830,378, with an EBITDA margin of 52%, compared to an EBITDA of $25,479,362 and a margin of 46% in Q1 2024 [23]. - Operating margin improved from 45% in Q1 2024 to 51% in Q1 2025, showcasing enhanced profitability [3]. Customer Metrics - The total number of customers in the last twelve months ended March 31, 2025, was 6.1 million, reflecting a 14% year-over-year increase [4]. - The repeat customer rate for franchise clinics was 71%, indicating strong customer loyalty [4]. - The number of partner clinics increased to 251 as of March 31, 2025, an increase of 36 clinics from the previous year [4]. Cash and Assets - Cash and cash equivalents as of March 31, 2025, were $132.06 million, an increase from $125.04 million at the end of 2024 [12]. - Cash and cash equivalents at the end of the period increased to $132,055,823, up from $96,181,550 at the end of Q1 2024 [21]. - Total assets increased to $284.61 million as of March 31, 2025, compared to $266.08 million at the end of 2024 [15]. Operating Expenses and Other Income - Operating expenses decreased to $13,531,010 in Q1 2025 from $15,058,490 in Q1 2024, reflecting a reduction of 10.1% [17]. - The company reported a gain on redemption of life insurance policies amounting to $8,746,138 in Q1 2025 [17]. - Interest income increased to $55,333 in Q1 2025, compared to $17,689 in Q1 2024, marking a growth of 212.5% [17]. - The net cash provided by operating activities for Q1 2025 was $1,928,621, down from $3,682,175 in Q1 2024 [21]. - The company experienced a foreign currency translation adjustment resulting in other comprehensive income of $9,808,327 in Q1 2025, compared to a loss of $10,193,852 in Q1 2024 [17]. Share Information - The weighted average shares outstanding for basic and diluted earnings per share increased to 103,276,637 in Q1 2025 from 94,192,433 in Q1 2024 [17]. Strategic Focus - The company is focusing on strategic expansion and optimizing its profitability structure to adapt to changing market dynamics [3].
SBC Medical Group Holdings Incorporated(SBC) - 2025 Q1 - Quarterly Results