SBC Medical Group Holdings Inc
sbc-holdings.comWhat Do They Do?
Provides management and operating support to aesthetic clinics and medical institutions, mainly in Japan, and operates aesthetic clinics in Singapore and Vietnam.
10-K for FY2025, filed Mar 27, 2026
How Do They Make Money?
Procurement Services brings in payments from medical corporations for advertising and medical materials when products are delivered or services are performed. Franchise and management fees come in as services are provided; rental services earn revenue under leases.
10-K for FY2025, filed Mar 27, 2026The Company generates procurement services revenue by purchasing primarily advertising services and medical materials from qualified…View ↗
The Company generates franchising revenue by licensing its intellectual properties, including but not limited to the Company’s brand name…View ↗
The Company generates revenue by dispatching staff to MCs to provide a range of services, primarily including IT, and administrative…View ↗
The Company recognizes revenue from rental services under ASC Topic 842, “Leases”.View ↗
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10-K for FY2025, filed Mar 27, 2026
FY2025 revenue by product or service ↗
$173.6M
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10-K for FY2025, filed Mar 27, 2026
$173.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Franchising
|
26% |
Franchising, FY2025
$45.9M Sources
|
|
|
Procurement Services
|
32% |
Procurement Services, FY2025
$56.1M Sources
|
|
|
Management Services
Recurring
10-K for FY2025, filed Mar 27, 2026 |
17% |
Management Services, FY2025
$29.6M Sources
|
Recurring |
|
Rental Services
|
13% |
Rental Services, FY2025
$23M Sources
|
|
|
Other
|
11% |
Other, FY2025
$18.9M Sources
|
Who Are Their Customers?
Medical corporations and independent clinic operators in Japan contract directly with the company for management and franchise support.
10-K for FY2025, filed Mar 27, 2026
10-K for FY2025, filed Mar 27, 2026
For the year ended December 31, 2025, customer A, B and C represent 24%, 23% and 21% of the Company’s total revenues, respectively. For the…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 29 cents of every revenue dollar as net income in FY2025 and turned 13 cents into free cash flow.
10-K for FY2025, filed Mar 27, 2026
$67.5MView ↗
10-K for FY2025, filed Mar 27, 2026
$51MView ↗
10-K for FY2025, filed Mar 27, 2026
$23.3MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
$10.7MView ↗
- ▲ +335%
- vs $2.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 13, 2026
Open tableView ↗
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Aug 13, 2026
Company expects fee revisions to add approximately $15 million in annual fees
Call-center fee revisions at five affiliated medical corporations and expanded support for Rize Clinic and Gorilla Clinic could add this amount if effective for a full year.
Sources
8-K, filed Aug 13, 2026
Specifically, through fee revisions for our call center services provided to five specific affiliated medical corporations, together with…View ↗
From blank-check company to clinic support
The earlier report described a blank-check company seeking a business combination; the current report describes a medical-services business supporting aesthetic clinics and operating clinics.
10-K for FY2022, filed Mar 9, 2023 10-K for FY2025, filed Mar 27, 2026
Who Do They Compete With?
Competes with Aesthetic Medispa, Alma Lasers, B. Braun, Cynosure Lutronic, Evolus, Galderma, Genesis Biosystems, Inmode, IRIDEX, Lumenis Be, Sinclair Pharma, Stryker, and Surgery Partners
10-K for FY2025, filed Mar 27, 2026Our franchisee clinics face significant competition from a variety of locally owned beauty clinics and Japanese chain beauty clinics…View ↗
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