BBB Foods(TBBB) - 2025 Q2 - Quarterly Report

Revenue and Sales Performance - Total revenue for Q2 2025 reached Ps. 18,770 million, representing a 38.3% increase compared to Q2 2024[7] - Same Store Sales grew by 17.7% in Q2 2025, driven by strong customer loyalty and value proposition[9] - Revenue from sales of merchandise for Q2 2025 reached Ps. 18,743,461, a 38.3% increase compared to Ps. 13,550,402 in Q2 2024[44] - Total revenue for the six months ended June 30, 2025, was Ps. 35,901,467, reflecting a 36.7% growth from Ps. 26,258,595 in the same period of 2024[45] Profitability and Loss - EBITDA for Q2 2025 was Ps. 844 million, a 22.5% increase year-over-year, while EBITDA excluding non-cash share-based payment expense reached Ps. 1,096 million, up 32.1%[10] - Gross profit for Q2 2025 was Ps. 3,043 million, a 33.9% increase compared to Q2 2024, with a gross margin of 16.2%[14] - The company reported a net loss of Ps. 286 million for Q2 2025, compared to a net gain of Ps. 331 million in Q2 2024[25] - Net loss for Q2 2025 was Ps. 286,075, compared to a net profit of Ps. 331,255 in Q2 2024, resulting in a net profit margin of -1.5%[44] - Profit before income tax for the year ended December 31, 2024, was Ps. 717,547, compared to a loss of Ps. 100,905 in 2023[65] Expenses - Sales expenses increased by 39.8% year-over-year to Ps. 1,978 million, reflecting higher personnel costs due to store expansion[15] - Administrative expenses rose by 50.3% to Ps. 731 million, driven by investments in human capital and new regional openings[17] - Sales expenses for Q2 2025 were Ps. 1,977,612, a 39.8% increase from Ps. 1,414,329 in Q2 2024[44] - Administrative expenses for Q2 2025 rose by 50.3% to Ps. 730,957, compared to Ps. 486,204 in Q2 2024[44] Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2025, totaled Ps. 1,121 million, with an additional $150 million in U.S. dollar-denominated short-term bank deposits[26] - Net cash flows provided by operating activities increased to Ps. 1,955 million in the first half of 2025, a 55.7% increase from the previous year[28] - Net cash flows provided by operating activities for the three months ended June 30, 2025, were Ps. 760,321, an increase of 67.5% from Ps. 453,520 in 2024[47] - The net cash flows provided by operating activities for the six months ended June 30, 2025, were Ps. 1,955,169, a 55.6% increase from Ps. 1,255,969 in 2024[48] - The company reported a net decrease in cash and cash equivalents of Ps. (305,828) for the six months ended June 30, 2025, compared to a decrease of Ps. (200,872) in 2024[48] Store Expansion - The company opened 142 net new stores in Q2 2025, bringing the total store count to 3,031[7] Assets and Liabilities - Total assets as of June 30, 2025, amounted to Ps. 25,116,747, an increase from Ps. 22,776,813 as of December 31, 2024[46] - Current liabilities increased to Ps. 12,385,591 as of June 30, 2025, compared to Ps. 11,187,416 at the end of 2024[46] Other Income and Expenses - The company reported a significant increase in other income, which rose to Ps. 58,812 in Q2 2025, up 2108.5% from Ps. 2,663 in Q2 2024[44] - The company recognized a share-based payment expense of Ps. 252,327 for the three months ended June 30, 2025, compared to Ps. 140,745 in 2024, indicating an increase in compensation costs[47] - Projected share-based payment non-cash expenses for the second half of 2025 are estimated at Ps. 2,467 million, with a total of Ps. 1,774 million projected for FY2026[63] Financing and Investments - Finance obtained through supplier finance arrangements rose to Ps. 3,498,928, up from Ps. 2,195,833[66] - Net cash flows used in investing activities were Ps. 4,907,296, compared to Ps. 1,778,789 in the previous year[64] - The company experienced a net cash flow used in investing activities of Ps. (827,200) for the three months ended June 30, 2025, compared to Ps. (3,348,361) in 2024, reflecting a reduction in cash outflows[47] Shareholder Information - The fully diluted share count as of June 30, 2025, was 158,148,851, reflecting the impact of various equity-based compensation plans[51] - Initial Public Offering net proceeds amounted to Ps. 7,841,837[66]