Workflow
Pono Capital Two(PTWO) - 2025 Q1 - Quarterly Results
PTWOPono Capital Two(PTWO)2025-05-15 13:00

Financial Performance - Total revenues for the first quarter of 2025 were 47million,reflectinga1447 million, reflecting a 14% year-over-year decrease due to the discontinuation of the staffing business and divestitures[4] - Net income attributable to SBC Medical Group increased by 15% year-over-year to 22 million, compared to 19millioninthesameperiodof2024[6]−EBITDAforthefirstquarterof2025was19 million in the same period of 2024[6] - EBITDA for the first quarter of 2025 was 25 million, representing a 3% year-over-year decrease, with an EBITDA margin of 52%, up from 46% in the first quarter of 2024[4] - Total revenues for the three months ended March 31, 2025, were 47,328,701,adecreaseof13.747,328,701, a decrease of 13.7% compared to 54,808,042 for the same period in 2024[17] - Net income attributable to SBC Medical Group Holdings Incorporated increased to 21,502,446,up14.721,502,446, up 14.7% from 18,757,752 in the prior year[17] - EBITDA for the three months ended March 31, 2025, was 24,830,378,withanEBITDAmarginof5224,830,378, with an EBITDA margin of 52%, compared to an EBITDA of 25,479,362 and a margin of 46% in 2024[23] - Operating expenses decreased to 13,531,010,down10.113,531,010, down 10.1% from 15,058,490 in the previous year[17] - The company reported a gain on redemption of life insurance policies amounting to 8,746,138,whichwasnotpresentintheprioryear[17]−Interestincomeroseto8,746,138, which was not present in the prior year[17] - Interest income rose to 55,333, compared to 17,689inthesameperiodlastyear,reflectingasignificantincrease[17]−Thecompanyreportedatotalotherincomeof17,689 in the same period last year, reflecting a significant increase[17] - The company reported a total other income of 7,249,333, significantly higher than 2,741,315inthesameperiodlastyear[17]CustomerMetrics−Thenumberofpartnerclinicsincreasedto251asofMarch31,2025,anincreaseof36clinicsfromthepreviousyear[4]−ThetotalnumberofcustomersinthelasttwelvemonthsendedMarch31,2025,was6.1million,markinga142,741,315 in the same period last year[17] Customer Metrics - The number of partner clinics increased to 251 as of March 31, 2025, an increase of 36 clinics from the previous year[4] - The total number of customers in the last twelve months ended March 31, 2025, was 6.1 million, marking a 14% year-over-year increase[4] - The repeat rate for customers who visited franchisee clinics twice or more was 71%[4] Profitability and Margins - Operating margin improved from 45% in the first quarter of 2024 to 51% in the first quarter of 2025[3] - Return on equity was 41%, representing a year-over-year decrease of 10 percentage points[4] Strategic Focus - SBC Medical is focusing on strategic expansion and optimizing profitability through revised pricing strategies and adapting to market dynamics[3] - The company aims to build a scalable franchise model while accelerating expansion across domestic and international markets[3] Cash and Other Financial Adjustments - Cash and cash equivalents at the end of the period increased to 132,055,823, compared to 96,181,550attheendofthesameperiodin2024[21]−Thecompanyexperiencedaforeigncurrencytranslationadjustmentresultinginothercomprehensiveincomeof96,181,550 at the end of the same period in 2024[21] - The company experienced a foreign currency translation adjustment resulting in other comprehensive income of 9,808,327, compared to a loss of 10,193,852in2024[17]−Netcashprovidedbyoperatingactivitieswas10,193,852 in 2024[17] - Net cash provided by operating activities was 1,928,621, a decrease from $3,682,175 in the prior year[20]