DISAGGREGATION OF REVENUES

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

DISAGGREGATION OF REVENUES

NOTE 16 — DISAGGREGATION OF REVENUES

Revenues generated from different revenue streams consist of the following:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Royalty income	$	15,688,528	$	8,606,999	$	45,425,052	$	25,446,040
Procurement services		17,571,299		8,959,689		44,303,891		34,662,934
Management services		12,110,764		22,969,187		44,471,031		53,693,948
Rental services		4,124,774		1,337,803		11,195,888		4,681,213
Others		3,589,518		5,405,007		15,599,143		12,708,594
Total	$	53,084,883	$	47,278,685	$	160,995,005	$	131,192,729

During the nine months ended September 30, 2024 and 2023, the Company recognized revenue of $1,970,889 and $743,223 from the opening balance of advances from customers, respectively; and recognized revenue of nil and $1,382,803 from the opening balance of advances from customers — related parties, respectively.

As of September 30, 2024 and December 31, 2023, and for the nine months ended September 30, 2024 and 2023, substantially all of our long-lived assets and revenues generated are attributed to the Company’s operation in Japan.

SBC MEDICAL GROUP HOLDINGS INCORPORATED

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS