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

Filed: Nov 14, 2025Period ending Sep 30, 2025

Health Care

Services-Offices & Clinics of Doctors of MedicineSEC EDGAR

SBC Medical Group Holdings Inc (SBC) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 14, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

SBC Medical Group Holdings Inc Q3 2025 10-Q Analysis

Management Discussion & Analysis

• No quarterly revenue or YoY changes disclosed in the MD&A section
• No profitability or margin figures reported for the quarter
• No segment or product line performance data provided
• 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

SBC Medical Group Holdings Inc Q3 2025 Quarterly Financials
XBRL

Revenue

$43M

▼ -73.1% YoY▼ -0.0% QoQ

Net Income

$13M

▼ -68.5% YoY▲ +421.7% QoQ

Gross Margin

70.6%

▼ -528bp YoY▲ +140bp QoQ

Operating Margin

36.6%

▼ -473bp YoY▲ +307bp QoQ

Net Margin

29.6%

▲ +432bp YoY▲ +2391bp QoQ

ROE

5.2%

Total Assets

$321M

EPS (Diluted)

$0.13

▼ -69.0% YoY▲ +550.0% QoQ

Operating Cash Flow

-$21M

▼ -172.6% YoY▼ -150.4% QoQ

Source: XBRL data from SBC Medical Group Holdings Inc Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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