SBC Medical Group Holdings Inc SBC
We were originally incorporated in Delaware on March 11, 2022 under the name "Pono Capital Two, Inc.," referred to herein as "Pono," as a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
On August 9, 2022, Pono consummated its IPO of 11,500,000 units (the "Units" and, with respect to the Class A common stock included in the Units being offered, the "Public Shares" and with respect to the warrants included in the Units, the "Public Warrants") (the "Pono IPO").
Simultaneously with the consummation of the closing of the Pono IPO, Pono consummated the private placement of an aggregate of 634,375 units (the "Placement Units") at a price of $10.00 per Placement Unit in a private placement to the Sponsor (the "Private Placement").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $173.6M | $205.4M | $193.5M | — |
| Cost of revenue | $46.3M | $49.4M | $56.2M | — |
| Gross profit | $127.3M | $156.1M | $137.3M | — |
| SG&A | $59.8M | $57.7M | $66.2M | — |
| Total operating expenses | $59.8M | $85.7M | $66.6M | — |
| Operating income | $67.5M | $70.3M | $70.7M | — |
| Interest expense | $148.2K | $28.3K | $45.3K | — |
| Pre-tax income | $82.1M | $73.5M | $73.6M | — |
| Income tax | $31.0M | $26.8M | $35.0M | — |
| Net income | $51.0M | $46.6M | $39.4M | — |
| EPS, basic | 0.50 | 0.48 | 0.42 | — |
| EPS, diluted | 0.50 | 0.48 | 0.42 | — |
| Shares, diluted (wtd. avg.) | $103.0M | $96.6M | $94.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $163.8M | $125.0M | $103.0M | $485.6K |
| Short-term investments | $319.2K | $0 | — | — |
| Inventory | $2.8M | $1.5M | $3.1M | — |
| Total current assets | $231.2M | $184.5M | $165.9M | $722.2K |
| Property, plant and equipment | $7.5M | $8.8M | $13.6M | — |
| Goodwill | $15.4M | $4.6M | $3.6M | — |
| Other intangibles | $47.7M | $1.6M | $19.7M | — |
| Total assets | $380.4M | $266.1M | $258.8M | $119.9M |
| Accounts payable | — | — | $43.9K | $79.4K |
| Short-term debt | $228.2K | $262.1K | $329.2K | — |
| Total current liabilities | $61.1M | $61.2M | $92.5M | $566.0K |
| Long-term debt | $42.8M | $6.6M | — | — |
| Total liabilities | $117.1M | $71.1M | $115.0M | $4.6M |
| Retained earnings | $240.4M | $189.5M | $142.8M | -$3.4M |
| Total equity | $248.3M | $195.1M | $143.8M | $107.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $24.7M | $20.6M | $50.7M | — |
| Depreciation and amortisation | $2.7M | $3.8M | $12.2M | — |
| Stock-based compensation | $0 | $13.0M | — | — |
| Capital expenditure | $1.4M | $2.6M | $8.5M | — |
| Investing cash flow | -$21.0M | -$10.1M | $1.8M | — |
| Financing cash flow | $38.3M | $23.0M | $6.1M | — |
| Buybacks | $5.0M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-020748.
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