10-Q quarterly report · filed Nov 14, 2025

SBC Medical Group Holdings Inc (SBC) Q3 2025 10-Q Quarterly Report

Short answer

SBC Medical Group Holdings Inc (SBC) filed its Q3 2025 10-Q quarterly report on Nov 14, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $43M (down 73.1% year over year) with net income of $13M.

Q3 2025 key financials · XBRL

Revenue
$43M
−73.1% YoY · −0.0% QoQ
Net income
$13M
−68.5% YoY · +421.7% QoQ
Operating margin
36.6%
Gross margin
70.6%
EPS (diluted)
$0.13
−69.0% YoY · +550.0% QoQ

Source: XBRL data from the SBC Medical Group Holdings Inc (SBC) Q3 2025 10-Q on SEC EDGAR. USD.

SBC Medical Group Holdings Inc Q3 2025 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • No profitability or margin figures reported for the quarter
  • No cash position, operating cash flow, or capital deployment updates mentioned
  • Management highlights emerging growth company and smaller reporting company status with related regulatory exemptions, no updated guidance or outlook

Risk Factors

  • New risk: Business Combination with Pono Capital Two, Inc. on Sept 17, 2024, adds integration and public company compliance risks
  • Material update: Fee structure revision for clinic services effective April 1, 2025 causes 21.51%-36.71% franchising revenue decline
  • Regulatory risk: Japanese Medical Care Act limits SBC's voting control despite equity interests in six franchisee medical corporations
  • Operational risk: Discontinuation of clinic operation staff services from Jan 2025 reduces management services revenue by 47.54% YTD
  • Financial risk: Negative operating cash flow of $(27.3)M for nine months ended Sept 30, 2025, despite $36.8M net income reported

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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