PriceSmart delivered a sound Q2 FY2025 performance driven by continued net merchandise sales growth and a resilient membership base, supported by a diversified regional footprint across Central America, the Caribbean, and Colombia. Net revenue reached approximately $1.364 billion, with net merchandise sales of about $1.329 billion and total revenue of roughly $1.364 billion. Net income was $43.8 million or $1.45 per diluted share, and Adjusted EBITDA stood at $87.0 million for the quarter. For the first six months, net income was $81.2 million and Adjusted EBITDA was $166.1 million. The quarter exhibited margin pressure on a gross-margin basis (gross margin as a percentage of net merchandise sales declined by 10 basis points to 15.6%), while operating margin remained constructive at about 4.8%. SG&A rose modestly as a percentage of revenue (to 12.4%) due to planned technology investments to support growth initiatives.