vs
Side-by-side financial comparison of ON24 INC. (ONTF) and SBC Medical Group Holdings Inc (SBC). Click either name above to swap in a different company.
SBC Medical Group Holdings Inc is the larger business by last-quarter revenue ($39.6M vs $34.6M, roughly 1.1× ON24 INC.). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs -18.8%, a 54.6% gap on every dollar of revenue. On growth, ON24 INC. posted the faster year-over-year revenue change (-5.6% vs -10.9%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $-2.2M). Over the past eight quarters, ON24 INC.'s revenue compounded faster (-4.2% CAGR vs -15.0%).
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
SBC Medical Group Holdings Inc. is a leading Japan-headquartered healthcare provider primarily focused on aesthetic medicine, dermatology, and anti-aging wellness services. It operates an extensive network of clinics across Japan, catering to both domestic patients and international medical tourists, with core offerings including cosmetic surgery and non-invasive skincare treatments.
ONTF vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.6M | $39.6M |
| Net Profit | $-6.5M | $14.2M |
| Gross Margin | 74.9% | 73.1% |
| Operating Margin | -23.5% | 32.5% |
| Net Margin | -18.8% | 35.9% |
| Revenue YoY | -5.6% | -10.9% |
| Net Profit YoY | 26.8% | 117.2% |
| EPS (diluted) | $-0.15 | $0.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $34.6M | $39.6M | ||
| Q3 25 | $34.6M | $43.4M | ||
| Q2 25 | $35.3M | $43.4M | ||
| Q1 25 | $34.7M | $47.3M | ||
| Q4 24 | $36.7M | $44.4M | ||
| Q3 24 | $36.3M | $53.1M | ||
| Q2 24 | $37.3M | $53.1M | ||
| Q1 24 | $37.7M | $54.8M |
| Q4 25 | $-6.5M | $14.2M | ||
| Q3 25 | $-6.4M | $12.8M | ||
| Q2 25 | $-7.3M | $2.5M | ||
| Q1 25 | $-8.7M | $21.5M | ||
| Q4 24 | $-8.9M | $6.5M | ||
| Q3 24 | $-11.4M | $2.8M | ||
| Q2 24 | $-11.2M | $18.5M | ||
| Q1 24 | $-10.7M | $18.8M |
| Q4 25 | 74.9% | 73.1% | ||
| Q3 25 | 74.7% | 70.6% | ||
| Q2 25 | 75.1% | 69.2% | ||
| Q1 25 | 73.8% | 79.7% | ||
| Q4 24 | 74.5% | 76.3% | ||
| Q3 24 | 74.3% | 81.5% | ||
| Q2 24 | 74.5% | 74.2% | ||
| Q1 24 | 74.1% | 72.1% |
| Q4 25 | -23.5% | 32.5% | ||
| Q3 25 | -23.1% | 36.6% | ||
| Q2 25 | -26.0% | 33.6% | ||
| Q1 25 | -30.1% | 51.1% | ||
| Q4 24 | -32.1% | 10.6% | ||
| Q3 24 | -36.7% | 26.1% | ||
| Q2 24 | -35.0% | 51.4% | ||
| Q1 24 | -33.1% | 44.6% |
| Q4 25 | -18.8% | 35.9% | ||
| Q3 25 | -18.4% | 29.6% | ||
| Q2 25 | -20.6% | 5.7% | ||
| Q1 25 | -25.1% | 45.4% | ||
| Q4 24 | -24.2% | 14.7% | ||
| Q3 24 | -31.4% | 5.3% | ||
| Q2 24 | -29.9% | 34.8% | ||
| Q1 24 | -28.4% | 34.2% |
| Q4 25 | $-0.15 | $0.15 | ||
| Q3 25 | $-0.15 | $0.12 | ||
| Q2 25 | $-0.17 | $0.02 | ||
| Q1 25 | $-0.21 | $0.21 | ||
| Q4 24 | $-0.21 | $0.05 | ||
| Q3 24 | $-0.27 | $0.03 | ||
| Q2 24 | $-0.27 | $0.20 | ||
| Q1 24 | $-0.26 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $37.0M | $164.1M |
| Total DebtLower is stronger | — | $42.8M |
| Stockholders' EquityBook value | $139.4M | $248.3M |
| Total Assets | $228.4M | $380.4M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $37.0M | $164.1M | ||
| Q3 25 | $47.2M | $127.4M | ||
| Q2 25 | $37.7M | $152.7M | ||
| Q1 25 | $26.8M | $132.1M | ||
| Q4 24 | $14.9M | $125.0M | ||
| Q3 24 | $11.0M | $137.4M | ||
| Q2 24 | $15.5M | — | ||
| Q1 24 | $18.3M | — |
| Q4 25 | — | $42.8M | ||
| Q3 25 | — | $21.1M | ||
| Q2 25 | — | $7.1M | ||
| Q1 25 | — | $6.9M | ||
| Q4 24 | — | $6.6M | ||
| Q3 24 | — | $823.2K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $139.4M | $248.3M | ||
| Q3 25 | $144.3M | $248.0M | ||
| Q2 25 | $150.0M | $244.6M | ||
| Q1 25 | $153.7M | $226.4M | ||
| Q4 24 | $159.4M | $195.1M | ||
| Q3 24 | $164.9M | $205.0M | ||
| Q2 24 | $170.8M | $8.8M | ||
| Q1 24 | $174.4M | $9.0M |
| Q4 25 | $228.4M | $380.4M | ||
| Q3 25 | $224.8M | $321.4M | ||
| Q2 25 | $235.1M | $315.3M | ||
| Q1 25 | $245.8M | $284.6M | ||
| Q4 24 | $251.0M | $266.1M | ||
| Q3 24 | $250.9M | $296.5M | ||
| Q2 24 | $259.0M | $19.5M | ||
| Q1 24 | $269.2M | $19.8M |
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.09× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.1M | $52.0M |
| Free Cash FlowOCF − Capex | $-2.2M | $51.2M |
| FCF MarginFCF / Revenue | -6.4% | 129.3% |
| Capex IntensityCapex / Revenue | 3.3% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | $4.0M | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $52.0M | ||
| Q3 25 | $2.5M | $-20.9M | ||
| Q2 25 | $2.6M | $-8.3M | ||
| Q1 25 | $3.4M | $1.9M | ||
| Q4 24 | $985.0K | $-7.3M | ||
| Q3 24 | $295.0K | $5.0M | ||
| Q2 24 | $1.4M | $19.2M | ||
| Q1 24 | $2.1M | $3.7M |
| Q4 25 | $-2.2M | $51.2M | ||
| Q3 25 | $2.2M | $-20.9M | ||
| Q2 25 | $2.1M | $-8.6M | ||
| Q1 25 | $1.9M | $1.7M | ||
| Q4 24 | $424.0K | $-7.9M | ||
| Q3 24 | $143.0K | $4.6M | ||
| Q2 24 | $898.0K | $18.3M | ||
| Q1 24 | $1.1M | $3.0M |
| Q4 25 | -6.4% | 129.3% | ||
| Q3 25 | 6.2% | -48.3% | ||
| Q2 25 | 5.9% | -19.9% | ||
| Q1 25 | 5.6% | 3.5% | ||
| Q4 24 | 1.2% | -17.8% | ||
| Q3 24 | 0.4% | 8.7% | ||
| Q2 24 | 2.4% | 34.5% | ||
| Q1 24 | 2.9% | 5.4% |
| Q4 25 | 3.3% | 2.0% | ||
| Q3 25 | 1.1% | 0.1% | ||
| Q2 25 | 1.4% | 0.7% | ||
| Q1 25 | 4.2% | 0.5% | ||
| Q4 24 | 1.5% | 1.3% | ||
| Q3 24 | 0.4% | 0.8% | ||
| Q2 24 | 1.3% | 1.6% | ||
| Q1 24 | 2.8% | 1.3% |
| Q4 25 | — | 3.66× | ||
| Q3 25 | — | -1.63× | ||
| Q2 25 | — | -3.39× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | — | -1.12× | ||
| Q3 24 | — | 1.77× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONTF
Segment breakdown not available.
SBC
| Franchising | $10.3M | 26% |
| Medical Corporation Shobikai | $8.1M | 21% |
| Medical Corporation Nasukai | $7.2M | 18% |
| Management Services | $6.3M | 16% |
| Rental Services | $4.3M | 11% |
| Medical Corporation Association Furinkai | $3.0M | 8% |
| Japan Medical And Beauty Inc | $656.5K | 2% |
