The company's core operating segments continue to struggle, with revenue falling to $43.1M in 2026Q1 despite maintaining a resilient 69.8% gross margin.
| Sales/Revenue | 169.34M | 173.61M | 205.42M | 193.54M | 174.16M |
| Revenue Growth % | -14.45% | -15.48% | 6.13% | 11.13% | - |
| Cost of Goods Sold | 49.75M | 46.32M | 49.37M | 56.24M | 59.33M |
| COGS % of Revenue | - | 26.68% | 24.03% | 29.06% | 34.06% |
| Gross Profit | 119.59M | 127.28M | 156.05M | 137.3M | 114.83M |
| Gross Margin % | 70.62% | 73.32% | 75.97% | 70.94% | 65.94% |
| Gross Profit Growth % | - | -18.43% | 13.65% | 19.57% | - |
| Operating Expenses | 58.58M | 59.8M | 85.75M | 66.64M | 94.72M |
| OpEx % of Revenue | - | 34.44% | 41.74% | 34.43% | 54.38% |
| Selling, General & Admin | 59.29M | 59.8M | 70.69M | 66.23M | 93.48M |
| SG&A % of Revenue | - | 34.44% | 34.41% | 34.22% | 53.68% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 781.19K | 0 | 15.06M | 409.03K | 1.23M |
| Operating Income | 61M | 67.49M | 70.3M | 70.66M | 20.12M |
| Operating Margin % | 36.02% | 38.87% | 34.23% | 36.51% | 11.55% |
| Operating Income Growth % | - | -4.01% | -0.5% | 251.24% | - |
| EBITDA | 63.73M | 70.17M | 74.1M | 82.91M | 26.05M |
| EBITDA Margin % | 37.63% | 40.42% | 36.07% | 42.84% | 14.96% |
| EBITDA Growth % | -13.24% | -5.31% | -10.62% | 218.27% | - |
| D&A (Non-Cash Add-back) | 2.73M | 2.68M | 3.8M | 12.25M | 5.93M |
| EBIT | 68.49M | 82.23M | 73.48M | 73.63M | 23.71M |
| Net Interest Income | -4.55K | 37.73K | -8.36K | 41.46K | 440.94K |
| Interest Income | 264.63K | 198.31K | 19.94K | 86.75K | 472.38K |
| Interest Expense | 269.18K | 160.58K | 28.3K | 45.29K | 31.44K |
| Other Income/Expense | 8.47M | 14.58M | 3.15M | 2.92M | 3.56M |
| Pretax Income | 69.47M | 82.07M | 73.46M | 73.58M | 23.68M |
| Pretax Margin % | 41.02% | 47.27% | 35.76% | 38.02% | 13.59% |
| Income Tax | 28.59M | 31.02M | 26.77M | 35.02M | 18.12M |
| Effective Tax Rate % | 41.15% | 37.8% | 36.44% | 47.59% | 76.55% |
| Net Income | 40.79M | 50.99M | 46.61M | 39.37M | 6.32M |
| Net Margin % | 24.09% | 29.37% | 22.69% | 20.34% | 3.63% |
| Net Income Growth % | -17.36% | 9.38% | 18.4% | 523.44% | - |
| Net Income (Continuing) | 40.88M | 51.05M | 46.69M | 38.56M | 5.55M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 15.04M | 15.02M | -87K | 1.65M | 2.6M |
| EPS (Diluted) | 0.40 | 0.50 | 0.48 | 0.42 | 0.04 |
| EPS Growth % | -21.77% | 4.17% | 14.29% | 1044.41% | - |
| EPS (Basic) | - | 0.50 | 0.48 | 0.42 | 0.04 |
| Diluted Shares Outstanding | 102.58M | 103M | 96.56M | 94.19M | 15.07M |
| Basic Shares Outstanding | 102.58M | 103M | 96.56M | 94.19M | 15.07M |
| Dividend Payout Ratio | - | - | - | - | - |
Geographic and Regulatory Concentration
As indicated by the most recent quarterly filings, SBCWW has experienced a sustained period of top-line decline, with revenue falling to $43.1M in 2026Q1, representing a significant -9.0% year-over-year contraction that follows several quarters of double-digit percentage decreases in the company's core operating segments.
The consistent revenue erosion suggests that the company's franchise-based model may be facing saturation within the Japanese aesthetic market. Investors should monitor whether this trend reflects a strategic pivot away from lower-margin equipment sales or a fundamental weakening in patient demand for elective procedures.
According to historical financial data, SBCWW maintains a robust gross margin profile, which reached 69.8% in 2026Q1, demonstrating the company's ability to extract a platform premium despite the broader revenue decline observed across its primary medical management and procurement service segments over the last ten quarters.
The stability of these margins implies that the company's 'clinic-in-a-box' ecosystem retains significant pricing power, likely due to the high switching costs inherent in its proprietary IT and supply chain infrastructure. This suggests that the firm is successfully prioritizing high-margin management fees over lower-margin transactional volume.
Based on reported figures, the company's operating margin has exhibited high volatility, fluctuating from a peak of 51.4% in 2024Q2 down to 41.2% in 2026Q1, which suggests that the firm's fixed-cost structure is becoming increasingly difficult to scale efficiently amidst the ongoing revenue contraction.
The inability to consistently maintain operating margins above the 40% threshold during periods of declining revenue indicates that the corporate infrastructure may be over-leveraged. Further investigation is warranted to determine if management can successfully rationalize SG&A expenses to protect profitability in a lower-growth environment.
As noted in recent financial disclosures, the company's heavy reliance on the Japanese market exposes it to significant regulatory risks, particularly regarding medical advertising laws, which may fundamentally undermine the marketing-led growth model that has historically driven the firm's expansion and franchisee recruitment efforts.
Short-sellers may focus on the potential for regulatory shifts to increase customer acquisition costs, which would compress margins across the entire franchisee network. The current revenue decline may be an early indicator that these external pressures are already beginning to impact the company's core operational efficacy.
Quick answers to the most common questions about buying SBCWW stock.
For fiscal year 2025, SBC Medical Group Holdings Incorporated (SBCWW) reported total revenue of $173.6M. This represents a 0.3% decline compared to $174.2M in 2022.
SBC Medical Group Holdings Incorporated (SBCWW) is profitable, generating $51.0M in net income for the fiscal year ending 2025 with a net profit margin of 29.4%.
SBC Medical Group Holdings Incorporated (SBCWW) reported an operating income of $67.5M, resulting in an operating profit margin of 38.9%. This margin reflects the operational efficiency of the business before interest and taxes.
SBC Medical Group Holdings Incorporated (SBCWW) generated $127.3M in gross profit for the year, representing a gross profit margin of 73.3%. This demonstrates the company's core pricing power and production efficiency.