Aug 13, 2026 earnings call — Reacceleration after structural reforms
Completed 2025 reforms; Q2 revenue was $49 million and adjusted EBITDA was $20 million.
Revenue $0.0B (est $0.0B) · EPS $0.10 (est $0.12)
Key quotes
"Continuing from this second quarter, amongst Japanese medical institutions, we are going to be the organization that makes the most use of AI."
"To reach the customer segment that prefers basic dermatological treatments, which is driving market expansion, we are renaming Shonan Aesthetic Dermatology to SBC Skin Clinic."
"And last year, we did one and increasing the number of locations reaching 24 now."
Analyst Q&A 10
Why Japan clinic growth improved
Q (Yuya Yoshida): They asked what structural changes drove better performance at domestic aesthetic clinics and whether improvement will continue.
A: Management said both customer numbers and unit price are growing. Growth in aesthetic dermatology is outpacing the market because the SBC platform was revamped, including marketing, and they are more confident going forward.
Competitive position in Japan market
Q (Yuya Yoshida): They asked how competitive the Japanese aesthetic healthcare market is and SBC's position in it.
A: Management said SBC's position has strengthened and they are in a favorable position by number of locations and customer volume, with a much stronger brand and scale. They can avoid price competition, buy cutting-edge equipment at scale, and optimize operations using AI and data-driven management.
SG&A cost increase details
Q (Yuya Yoshida): They asked why SG&A was higher than expected in the quarter and asked for detail.
A: Management said SG&A increased only slightly. Much of the increase was due to a one-time cost from the secondary offering, and it is not an overall trend of rising SG&A.
Timing of $15M fee upside
Q (Yuya Yoshida): They asked the timing of the highlighted $15 million fee upside, how much was in Q2, and the incremental margin contribution.
A: Management said timing depends on each item and some impact may appear in June, so Q2 largely did not include it. Full contribution will be seen starting next fiscal year, with about half of the unrealized gains included in Q3 and Q4, and most gains are expected to flow to profit because these services use fixed cost.
OrangeTwist update and learnings
Q (Yuya Yoshida): They asked for the current status of OrangeTwist, learnings since SBC's investment, and key milestones in the next 12 months.
A: Management said leadership changed and Clint Carnell became CEO, which sped up reforms. They are using SBC procurement and revising marketing, clinic protocols, and branding, and plan to build SBC-branded business in the U.S. and seek synergies with OrangeTwist.
How SBC will expand in U.S.
Q (Yuya Yoshida): They asked whether expansion in the U.S. will use OrangeTwist locations, buy other companies, or increase SBC ownership.
A: Management said they will use a mix of measures. OrangeTwist follows a roll-up strategy using M&A to increase clinics (they reached 24 locations), SBC may also deploy locations, and they are considering all options including further M&A approaches to OrangeTwist.
AI rollout and effects
Q (Yuya Yoshida): They asked what impacts AI will have beyond higher service fees and asked for a time scale.
A: Management said they are releasing AI products now: a chatbot was released in August and they expect an AI call center and an AI preceptor before year-end. They will revamp core systems with AI to improve efficiency and customer experience, aiming to grow clinics without increasing indirect headcount by 2035 and to increase sales as well as efficiency.
Longevity business plans
Q (Yuya Yoshida): They asked how SBC views longevity as an opportunity and how it will become a business.
A: Management said SBC can offer medical layers of intervention and therapies, which differentiates them from others, and healthy longevity will expand the aesthetic market. They plan to establish a longevity center and build an online platform next year and brand SBC as associated with longevity in Japan.
Use of cash and growth plans
Q (Yuya Yoshida): They asked what SBC will do with ample net cash and why investors should focus on SBC now.
A: Management recalled past growth after acquiring Rize and Gorilla clinics and said they will pursue M&A in orthopedics, ophthalmology, and aesthetic health care. Their concrete target is to reach 1,000 clinics by 2035 through M&A and expansion.
Closing summary and outlook
Q (Yuya Yoshida): Operator invited the CFO to give closing remarks.
A: The CFO thanked participants and said they are glad to report strong results and are confident in accelerating growth. He said service unit price has been enhanced, new business formats, AI, and longevity will further strengthen SBC's positioning.