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SBC Medical Group Holdings Inc. Announces Fourth Quarter and Full Year 2024 Financial Results
IRVINE, Calif.--(BUSINESS WIRE)-- SBC Medical Group Holdings Incorporated (NASDAQ: SBC, “SBC Medical” or the “Company”), a global owner, operator and
About this update from Sbc Medical Group Holdings Incorporated
[{"type":"text","content":" IRVINE, Calif.--(BUSINESS WIRE)--\nSBC Medical Group Holdings Incorporated (NASDAQ: SBC, “SBC Medical” or the “Company”), a global owner, operator and provider of management services and products to cosmetic treatment centers, today announced its financial results for -the three months ended December 31, 2024 and full year 2024.\n\nFourth Quarter 2024 Highlights\n\n\nTotal revenues were $44 million, representing a 29% year-over-year decrease.\n\n\nGross profit was $34 million, representing a 22% year-over-year decrease.\n\n\nIncome from operations was $5 million, representing an 80% year-over-year decrease.\n\n\nEBITDA1, which is calculated by adding depreciation and amortization expense and impairment loss to income from operations was $21 million, representing a 22% year-over-year decrease. EBITDA margin1 was 47% for the fourth quarter of 2024, compared to 43% for the fourth quarter of 2023.\n\n\nNet income attributable to SBC Medical Group was $7 million, representing a 54% year-over-year decrease.\n\n\nEarnings per share, which is defined as net income attributable to the Company divided by the weighted average number of outstanding shares, was $0.06 for the three months ended December 31, 2024, representing a year-over-year decrease of 58%.\n\n\nFull Year 2024 Highlights\n\n\nTotal revenues were $205 million, representing a 6% year-over-year increase.\n\n\nGross Profit was $156 million, representing a 14% year-over-year increase.\n\n\nIncome from operations was $70 million, representing a 1% year-over-year decrease.\n\n\nEBITDA1, which is calculated by adding depreciation and amortization expense and impairment loss to income from operations was $89 million, representing an 8% year-over-year increase. EBITDA margin1 was 43% for the year of 2024, compared to 43% for the year of 2023.\n\n\nNet Income attributable to SBC Medical Group was $47 million, representing an 18% year-over-year increase.\n\n\nReturn on equity, which is defined as net income attributable to the Company divided by the average of shareholder’s equity as of December 31, 2023, and December 31, 2024, was 28% representing a year-over-year decrease of 4 percentage points.\n\n\nEarnings per share, which is defined as net income attributable to the Company divided by the weighted average number of outstanding shares, was $0.48 for the twelve months ended Decemb...