SBC Medical Group (SBC) is scheduled to report 3Q:25 results before the market open on November 14 and has scheduled an earnings call on November 17 after the market close. We estimate 3Q:25 revenue of $44.1 million, down 17% year over year, reflecting the impact of strategic business resets since April 2025, including franchise fee changes and the exit from the staffing business. Recent appointments, including Dr. Ewen Chee as Lead Doctor for Asia Strategy, Shinya Inoue as Chief Marketing Officer, and Dr. Steven R. Cohen as Medical Strategy Advisor, reinforce SBC's commitment to scalable regional growth and operational excellence as it enters its next phase of global expansion. As of June 2025, the company held $153 million in cash and cash equivalents, with a long-term debt of $7 million. Our high-risk rating reflects the competitive nature of the aesthetic medical industry and the need for continuous technical upgrades, In addition, SBC faces challenges entering new geographies and integrating acquisitions.