Sbc Medical Group Holdings Incorporated · NASDAQ:SBC
Sbc Medical — Q3 2025 Earnings Presentation
27 slides from Sbc Medical's earnings presentation, November 2025
Slide 1: Investor Presentation 3Q2025
3Q2025 Investor Presentation November 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward-looking statements are not historical facts or statements of current conditions but instead represent only the Company’s beliefs regarding future events and performance, many of which, by their nature, are inherently uncertain
Slide 3: Table of Contents
Table of Contents Ⅰ. Franchise Clinic Performance Highlights P4 Ⅱ. Financial Performance P7 Ⅲ. Business Strategies Update P9 Ⅳ. Use of Assets and Capital Strategies P12 Appendix. P15 3
Slide 4: Franchise Clinic Performance Highlights
Ⅰ. Franchise Clinic Performance Highlights 4
Slide 5: 3Q25 Franchise Clinics Performance Highlights
3Q25 Franchise Clinics Performance Highlights • The number of customers continued to grow, with the Aesthetic Dermatology Category remaining the main driver Franchise Clinics Key Figures Number of Franchise Locations 1 Total Revenue 1 2 3 Average Revenue per Visit 1 2 3 4 (as of Sep 30, 2025-YoY) (Y
Slide 6: Recent Uptick in Average Revenue per Visit
Recent Uptick in Average Revenue per Visit • Driven by pricing and promotion strategy optimization and acquiring a higher-priced customer base through multi-branding, the average revenue per visit has begun to grow Average Revenue per Visit1 2 3 4 Drivers and Strategy Behind the Growth (US$) Pricing
Slide 7: Financial Performance
I. Financial Performance S B GC Medical G rOuD Holdings, Inc. /
Slide 8: Consolidated Income Statement (Quarterly)
Consolidated Income Statement (Quarterly) • YoY : Revenue declined due to the franchise fee revision, but profit rose as listing costs declined • QoQ : Revenue stabilized due to various factors, and operating income increased 3Q25 2Q25 3Q24 Total Revenues (MM US$) % QoQ % YoY YoY Total revenues 43 (
Slide 9: Business Strategies Update
Ⅲ. Business Strategies Update 9
Slide 10: New Business Development in Thailand
New Business Development in Thailand • Partnered with BLEZ ASIA to enter Thailand's rapidly growing aesthetic medical market • Starting with services for Japanese residents, we plan to expand into aesthetic clinics and product distribution Thai Aesthetic Medical Market About BLEZ ASIA Co., Ltd. • Th
Slide 11: Tender Offer (TOB) for Waqoo, Inc.
Tender Offer (TOB) for Waqoo,Inc. • Decided to launch a tender offer (TOB) to acquire a majority stake in Waqoo,Inc. Strategic Rationale Overview of Tender Offer (TOB) SBC Medical Group Number of Shares to Offeror 575,000 shares 1 Enhance Clinical Services (AGA, Orthopedics, etc.) Co., Ltd. be Purch
Slide 12: Use of Assets and Capital Strategies
Ⅳ. Use of Assets and Capital Strategies 12
Slide 13: Robust Balance Sheet Positioned for Growth
Robust Balance Sheet Positioned for Growth • Sound financial foundation with ample cash and debt capacity • Loans were executed for working capital purposes Key Balance Sheet Figures (as of Sep 30, 2025) Selected Items from Balance Sheet Sep 30, Dec 31, (MM US$) 2025 Change 2024 Total assets 321 +55
Slide 14: Current Challenges of SBC's Shares
Current Challenges of SBC’s Shares • The low liquidity of our shares makes it difficult for many institutional investors to trade • We are discussing optimal measures to (1) improve the supply-demand dynamics and (2) provide additional liquidity in parallel Current Challenge on SBC’s Shares Ideal Pr
Slide 15: Appendix
Appendix. SBC Medical Group Holdings, Inc. 1 5
Slide 16: Continued Growth Trend of Locations and Customer Base
Continued Growth Trend of Locations and Customer Base • Our network of locations and customer base are continually growing, and we aim for further expansion, domestic and overseas Number of Locations 1 Number of Customers 1 2 (Locations) (K People) CAGR: +13% CAGR: +15% 1,692 258 1,616 1,626 251 253
Slide 17: Consolidated Income Statement (YTD)
Consolidated Income Statement (YTD) • Revenue declined due to business restructuring, while profit rose as listing costs declined 3Q25 3Q24 Total Revenues (MM US$) % YoY YoY Total revenues 134 (17)% 161 • Franchise fee revisions resulted in USD (16.1) mm, Franchising revenue 36 (22)% 45 negatively i
Slide 18: 3Q25 Financial Performance Highlights (YTD)
3Q25 Financial Performance Highlights (YTD) • Revenue and EBITDA decreased due to business restructuring, and the fee revision (in April,2025) • EBITDA margin remained at a high level, reflecting strong profitability driven by cost optimization and efficient operations SBC Medical Group Holdings Key
Slide 19: Income Statement (Consolidated)
Income Statement (Consolidated) Income Statement Operating Expenses 3Q25 3Q24 3Q25 3Q24 3Q25 % YoY 3Q24 % YoY 3Q25 % YoY 3Q24 % YoY (MM US$) YTD YTD (MM US$) YTD YTD Total revenues 43 (18)% 53 134 (17)% 161 Total operating expenses 15 (50)% 29 44 (23)% 57 Franchising revenue 10 (37)% 16 36 (22)% 45
Slide 20: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) Sep 30, Dec 31, Sep 30, Dec 31, (MM US$) 2025 Change 2024 (MM US$) 2025 Change 2024 Total assets 321 +55 266 Total liabilities 73 +2 71 Total current assets 227 +43 184 Total current liabilities 45 (16) 61 Cash and cash equivalents 127 +2 125 Accounts payable 17 +3 14 Ac
Slide 21: Cash Flows (Consolidated)
Cash Flows (Consolidated) 3Q25 3Q24 (MM US$) YTD % YoY YTD Net cash provided by (used in) operating activities (27) n.m. 28 Net cash provided by (used in) investing activities 3 n.m. (6) Net cash provided by financing activities 18 +59% 12 Effect of exchange rate changes 8 n.m. 0 Net change in cash
Slide 22: 3Q25 Revenue Trend (vs 3Q24 / Quarterly)
3Q25 Revenue Trend (vs 3Q24 / Quarterly) • Revenue 1 decreased year-over-year due to business restructuring and franchise fee revision (MM US$) （8.6） (1.2) (0.8) +0.0 +2.1 +1.6 (8.7) +1.4 (0.9) (4.2) 53.1 51.1 43.4 42.5 13,094 3Q24 Termination of Deconsolidation 3Q24 Revision of Franchising Procurem
Slide 23: 3Q25 EBITDA Trend (vs 3Q24 / Quarterly)
3Q25 EBITDA Trend (vs 3Q24 / Quarterly) • EBITDA １ declined due to the impact of franchise fee revision and increased cost of sales (MM US$) （10.9） +12.8 +1.0 (8.7) +0.7 +1.0 +0.2 (0.3) (0.4) (4.8) 14.9 27.2 16.6 16.3 3Q24 Impact of Structural Stock-based 3Q24 Revision of Others Adjusted CGS Salarie
Slide 24: 3Q25 Revenue Trend (vs 3Q24 / YTD)
3Q25 Revenue Trend (vs 3Q24 / YTD) • Revenue 1 decreased year-over-year (MM US$) （13.3） (12.0) (4.3) +1.2 +7.5 +1.6 (16.1) (0.8) (2.7) (4.0) 161.0 144.7 134.0 131.4 13,094 3Q24 Termination of Deconsolidation 3Q24 Revision of Franchising Procurement Management Rental Others 3Q25 FX 3Q25 YTD Temporary
Slide 25: 3Q25 EBITDA Trend (vs 3Q24 / YTD)
3Q25 EBITDA Trend (vs 3Q24 / YTD) • EBITDA1 declined due to the impact of franchise fee revision and increased cost of sales (MM US$) +12.8 （23.0） +5.5 (2.8) +1.4 (16.1) (11.0) (1.3) (0.3) (1.1) 27.3 68.5 78.5 56.6 55.5 3Q24 Impact of Structural Stock-based 3Q24 Revision of Others Adjusted CGS Salar
Slide 26: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation may reference certain non-GAAP financial measures. Reconciliations of such measures to the most directly comparable GAAP measures are shown below. Reconciliation Table on Non-GAAP Financials 3Q25 3Q24 3Q25 2Q25 3Q24 （MM US$） YTD YTD (A) Total revenues 43
Slide 27: Thank you
Thank you SBC Medical Group Holdings Incorporated / ir@sbc-holdings.com ICR, LLC / US Investor Contact / +1 (646) 277 1200 /William.Zima@icrinc.com
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