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SBC Medical Group Holdings Inc. Reports Third Quarter 2024 Financial Results
IRVINE, Calif.--(BUSINESS WIRE)-- SBC Medical Group Holdings Incorporated (“SBC Medical”, or the “Company”), a global owner, operator and provider of
About this update from Sbc Medical Group Holdings Incorporated
[{"type":"text","content":" IRVINE, Calif.--(BUSINESS WIRE)--\nSBC Medical Group Holdings Incorporated (“SBC Medical”, or the “Company”), a global owner, operator and provider of management services and products to cosmetic treatment centers, today announced its unaudited financial results for the third quarter ended September 30, 2024.\n\n\nThird Quarter 2024 Highlights\n\n\n\nTotal revenues for the three months ended September 30, 2024 were $53 million, representing an increase of 12% from $47 million in the same quarter of 2023.\n\n\n\nTotal revenues for the nine months ended September 30, 2024 was $160 million, representing an increase of 23% from $131 million in the same period of 2023.\n\n\n\nIncome from operations for the three months ended September 30, 2024 was $13 million, representing a decrease by 31% from the same quarter in 2023.\n\n\nThis result was impacted by $12.8 million of stock-based compensation expense related to the Company’s listing process.\n\n\n\n\n\n\nIncome from operations for the nine months ended September 30, 2024 was $65.5 million, representing an increase of 40.5% from the same period in 2023.\n\n\nThis result is impacted by $12.8 million of stock based compensation expense related to the Company’s listing process.\n\n\n\n\n\n\nEBITDA1, which is calculated by adding depreciation and amortization expense to income from operations, for the nine months ended September 30, 2024 was $68 million, representing an increase of 21% from the same period in 2023. EBITDA margin was 42% for the nine months ended September 30, 2024\n\n\n\nNet income attributable to SBC Medical Group Holdings Incorporated for the three months ended September 30, 2024 was $2 million, compared to $8 million in the same quarter of 2023.\n\n\n\nNet income attributable to SBC Medical Group Holdings Incorporated for the nine months ended September 30, 2024 was $40 million, an increase of 60% from $25 million in the same period of 2023.\n\n\n\nNumber of partner clinics was 224 as of September 30, 2024, representing an increase by 24 from September 30, 2023.\n\n\n\n\n\n \n\n\n\n\n\n\n\n1 EBITDA and EBITDA Margin are non-GAAP financial measures. For more information on non-GAAP financial measure, please see the section of “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results.”\n\n\n\n \n\n\n\nNumber o...