Q2 2026 SBC Medical Group Holdings Inc Earnings Call Transcript
Key Points
- Profit growth outpaced revenue growth, with adjusted EBITDA up 32% year-over-year and margin at 41%.
- Clinic network expanded to 287 locations, up 34 year-over-year, with annual customer visits up 10%.
- Same-clinic revenue grew 6% and average spend per visit rose 9%, indicating strong organic growth.
- AI-driven initiatives are enhancing operational efficiency and customer experience, with expected annual fee increases of about $15 million.
- Global expansion is progressing, including a minority stake in OrangeTwist in the U.S. and a new asset-light model in Thailand.
- A weaker yen negatively impacted reported results, as most business is conducted in yen.
- Non-aesthetic business remains a small portion of the mix (16%), limiting near-term diversification.
- The company's recognition in U.S. capital markets is still limited, potentially affecting valuation.
- Dependence on M&A for growth in non-aesthetic and global segments carries execution risks.
- Raising service fees in stages may face resistance from medical corporations, impacting future revenue growth.
Thank you for taking the time to join the second-quarter 2026 conference call of SBC Medical Group Holdings Incorporated. I will now walk you through our results for the second quarter of 2026, and update on our business strategies, and our capital and IR strategy.
If I had to sum up this quarter in a single sentence, it is the quarter in which we completed the structural reforms we undertook in 2025, and SBC's growth entered a phase of reacceleration. On the back of an expanding business base and more sophisticated support functions, including AI, we delivered profit growth that outpaced revenue growth.
Let me begin with the clinic highlights. As of the end of June 2026, our number of locations reached 287, up 34 year on year. And the annual number of customer visits over the trailing 12 months was 6.92 million, up 10%.
Year-to-date clinic revenue rose 11%. Same-clinic revenue was up 6% and average spend per visit in the quarter increased 9%. With both customer volume and unit
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