BBB Foods(TBBB) - 2025 Q3 - Quarterly Report

Financial Performance - Total revenue for Q3 2025 reached Ps. 20,279 million, representing a 36.7% increase year-over-year[10] - Gross profit for Q3 2025 was Ps. 3,277 million, reflecting a 39.8% increase year-over-year[16] - Total revenue for Q3 2025 reached Ps. 20,278,992, a 36.7% increase compared to Ps. 14,833,806 in Q3 2024[48] - Gross profit for Q3 2025 was Ps. 3,276,798, reflecting a 39.8% increase from Ps. 2,343,698 in Q3 2024[48] - For the nine months ended September 30, 2025, total revenue was Ps. 56,180,459, up 36.7% from Ps. 41,092,401 in the same period of 2024[49] Same Store Sales - Same Store Sales grew by 17.9% in Q3 2025, driven by higher transactions per store and increased SKUs per transaction[10] - Same Store Sales growth improved from 11.6% in Q3 2024 to 17.9% in Q3 2025[34] Expenses - Administrative expenses increased by 326.5% to Ps. 2,109 million, primarily due to higher non-cash share-based payment expenses[19] - The company reported a significant increase in administrative expenses, which rose by 326.5% to Ps. 2,108,760 in Q3 2025 compared to Ps. 494,399 in Q3 2024[48] - Financial costs increased by 26.4% to Ps. 363 million, driven by higher interest on lease liabilities[25] - The company experienced a significant increase in share-based payments expense, which rose to Ps. 1,573,926 in Q3 2025 from Ps. 126,468 in Q3 2024[51] Net Income - The company recorded a net loss of Ps. 1,424 million in Q3 2025, compared to a net profit of Ps. 258 million in Q3 2024[26] - Net loss for Q3 2025 was Ps. 1,424,010, compared to a profit of Ps. 257,600 in Q3 2024, resulting in a net profit margin of -7.0%[48] - For the nine months ended September 30, 2025, net loss was Ps. 1,797,064, compared to a profit of Ps. 357,993 in 2024, resulting in a net profit margin of -3.2%[49] Cash Flow - Net cash flows provided by operating activities for the three months ended September 30, 2025, were Ps. 1,139,602, slightly up from Ps. 1,098,970 in 2024[51] - Net cash flows provided by operating activities for the nine months ended September 30, 2025, were Ps. 3,094,771, an increase from Ps. 2,378,208 in 2024[52] - The company reported a net cash flow used in investing activities of Ps. 2,227,718 for the nine months ended September 30, 2025, compared to Ps. 4,171,848 in 2024[52] - Cash and cash equivalents at the end of the period were Ps. 1,113,183 as of September 30, 2025, down from Ps. 1,268,902 in 2024[52] Store Expansion - The company opened 131 net new stores in Q3 2025, bringing the total to 3,162 stores[9] Assets and Liabilities - Total assets as of September 30, 2025, were Ps. 27,104,902, an increase from Ps. 22,776,813 as of December 31, 2024[50] - Total liabilities as of September 30, 2025, were Ps. 22,827,641, compared to Ps. 18,742,031 as of December 31, 2024[50] Share Information - The fully diluted share count as of September 30, 2025, was 158,148,851, reflecting the impact of various equity-based compensation plans[55] - Projected share-based payment non-cash expenses for FY2025 are estimated at Ps. 2,934 million, with a gradual decrease expected in subsequent years[66] EBITDA - EBITDA, excluding non-cash share-based payment expense, was Ps. 1,170 million, a 43.6% increase compared to Q3 2024[10] - EBITDA for Q3 2025 was -Ps. 404,160, a significant decline from Ps. 687,954 in Q3 2024, leading to an EBITDA margin of -2.0%[48]