SBC MEDICAL GROUP HOLDINGS INCRPRTD C/WTS 17/09/2029 (TO PUR COM) | 8-K: FY2025 Q4 Revenue: USD 39.57 M

Revenue: As of FY2025 Q4, the actual value is USD 39.57 M.

EPS: As of FY2025 Q4, the actual value is USD 0.14.

EBIT: As of FY2025 Q4, the actual value is USD 12.91 M.

Fourth Quarter 2025 Highlights (Three Months Ended December 31, 2025)

Revenue

• Total revenues were $40 million, representing an 11% year-over-year decrease.

Profitability

• Net Income attributable to SBC Medical Group was $14 million, representing a 117% year-over-year increase.
• EBITDA was $14 million, representing a 35% year-over-year decrease.
• EBITDA margin was 34% for the fourth quarter of 2025, representing a year-over-year decrease of 12 percentage points.
• Return on equity was 23%, representing a year-over-year increase of 9.8 percentage points.
• Net income margin was 36%.

Operational Metrics

• The number of Franchise Locations was 283 as of December 31, 2025, an increase of 34 locations from December 31, 2024.
• The number of customers in the last twelve months ended December 31, 2025, was 6.6 million, representing a 12% year-over-year increase.
• The repeat rate for customers who visited franchisee’s clinics twice or more was 72%.
• Average revenue per customer recovered to $316, an 11% increase year over year.

Full Year 2025 Highlights (Twelve Months Ended December 31, 2025)

Revenue

• Total revenues were $174 million, representing a 15% year-over-year decrease.

Profitability

• Net Income attributable to SBC Medical Group was $51 million, representing a 9% year-over-year increase.
• EBITDA was $70 million, representing a 21% year-over-year decrease.
• EBITDA margin was 40% for the full year 2025, representing a year-over-year decrease of 3 percentage points.
• Net income margin expanded from 23% to 29%.

Detailed Financials (Full Year 2025 vs. 2024)

• Total revenues, net: $173,607,489 in 2025 compared to $205,415,542 in 2024.
• Cost of revenues: $46,323,767 in 2025 compared to $49,365,035 in 2024.
• Gross profit: $127,283,722 in 2025 compared to $156,050,507 in 2024.
• Selling, general and administrative expenses: $59,797,324 in 2025 compared to $57,665,140 in 2024.
• Stock-based compensation: $0 in 2025 compared to $13,022,692 in 2024.
• Impairment loss on intangible asset: $0 in 2025 compared to $15,058,965 in 2024.
• Total operating expenses: $59,797,324 in 2025 compared to $85,746,797 in 2024.
• Income from operations: $67,486,398 in 2025 compared to $70,303,710 in 2024.
• Net income: $51,045,023 in 2025 compared to $46,689,892 in 2024.
• Net income attributable to SBC Medical Group Holdings Incorporated: $50,985,613 in 2025 compared to $46,614,275 in 2024.

Cash Flow (Full Year 2025 vs. 2024)

• Net cash provided by operating activities: $24,668,496 in 2025 compared to $20,582,933 in 2024.
• Net cash used in investing activities: -$20,971,552 in 2025 compared to -$10,102,410 in 2024.
• Net cash provided by financing activities: $38,292,183 in 2025 compared to $22,965,400 in 2024.
• Cash and cash equivalents as of the end of the year: $163,773,838 in 2025 compared to $125,044,092 in 2024.

Outlook / Guidance

SBC Medical is focusing on three key priorities for 2026: advancing its multi-brand strategy in dermatology, expanding its non-aesthetic healthcare portfolio, and building a stronger foundation in international markets. The company believes it is well-positioned to return to sustainable top-line growth, with the structural headwinds of the past two years largely behind it.