SBC Medical Group NASDAQ: SBC reported first-quarter 2026 revenue of $43 million, down 9% from a year earlier, as management said prior fee structure revisions continued to weigh on reported results even as underlying clinic activity improved.
SBC operates a highly profitable franchise model supporting over 250 aesthetic clinics, with 2024 operating margins exceeding 40 percent. The company generates strong returns on invested capital, with return on net operating assets reaching 116.9 percent in 2024. Revenue growth is supported by clinic expansion, rising inbound patient volume, and international acquisitions, including a recent entry into Southeast Asia.