Financial Performance - Total revenues for Q3 2025 were $43 million, representing an 18% year-over-year decrease[4] - Year-to-date total revenues for 2025 were $134 million, a 17% year-over-year decrease[7] - Total revenues for the three months ended September 30, 2025, were $43,353,235, a decrease of 18.3% compared to $53,084,883 for the same period in 2024[23] - Total revenues for the nine months ended September 30, 2025, were $134,040,783, a decrease of 16.8% compared to $160,995,005 for the same period in 2024[28] Net Income - Net income attributable to SBC Medical Group for Q3 2025 was $13 million, a 353% year-over-year increase from $3 million in Q3 2024[9] - Year-to-date net income attributable to SBC Medical Group was $37 million, representing an 8% year-over-year decrease[7] - Net income for the nine months ended September 30, 2025, was $36,765,128, down from $40,142,008 in 2024, representing a decline of 8.5%[25] - The company reported a net income per share of $0.12 for the three months ended September 30, 2025, compared to $0.03 for the same period in 2024[23] EBITDA - EBITDA for Q3 2025 was $17 million, reflecting a 12% year-over-year increase, with an EBITDA margin of 38% compared to 28% in Q3 2024[4] - EBITDA for the nine months ended September 30, 2025, was $56,648,122, representing a decline of 17.3% compared to $68,453,829 in 2024[28] - EBITDA margin for the nine months ended September 30, 2025, was 42%, down from 43% in the same period of 2024[28] Customer Metrics - The customer count reached 6.5 million in the last twelve months, marking a 14% year-over-year increase[4] - The repeat rate for customers visiting franchisee's clinics twice or more was 72%[4] Franchise Growth - The number of franchise locations increased to 258 as of September 30, 2025, up by 34 locations from the previous year[4] Assets and Equity - Total assets as of September 30, 2025, were $321.36 million, an increase from $266.08 million as of December 31, 2024[19] - Total stockholders' equity as of September 30, 2025, was $248,059,201, an increase from $195,022,158 as of December 31, 2024[22] - Total liabilities and stockholders' equity as of September 30, 2025, amounted to $321,363,085, up from $266,083,154 as of December 31, 2024[22] Cash Flow - Cash flows from operating activities for the nine months ended September 30, 2025, were negative at $(27,295,426), contrasting with positive cash flows of $27,886,231 in 2024[25] - Cash and cash equivalents as of the end of the period were $127,431,318, a decrease from $137,393,070 at the end of the previous period[26] - Net cash provided by financing activities for the nine months was $18,470,001, compared to $11,584,038 in the previous period[26] Operating Expenses - Operating expenses for the nine months ended September 30, 2025, totaled $43,717,642, slightly down from $43,784,637 in 2024[23] Other Financial Metrics - Gross profit for the three months ended September 30, 2025, was $30,611,487, compared to $43,239,090 for the same period in 2024, indicating a decrease of 29.2%[23] - The company experienced a foreign currency translation adjustment loss of $6,791,961 for the three months ended September 30, 2025[23] - The company reported a gain on redemption of life insurance policies amounting to $8,746,138 for the nine months ended September 30, 2025[23] - Cash paid for income taxes, net, was $37,555,740 for the nine months, compared to $31,332,123 in the previous period[26] - The company reported borrowings from long-term loans amounting to $14,851,980 during the nine months[26] - The company experienced an effect of exchange rate changes amounting to $7,973,128 during the nine months[26] - Depreciation and amortization expense for the nine months ended September 30, 2025, was $2,010,616, down from $2,867,781 in 2024[28] Future Plans - The company plans to focus on sustainable growth and multi-brand initiatives in the dermatology segment moving forward[6]
SBC Medical Group Holdings Incorporated(SBC) - 2025 Q3 - Quarterly Results