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6-K

Betterware De Mexico, S.A.P.I. De C.V (BWMX)

6-K 2026-05-05 For: 2026-05-05
View Original
Added on May 05, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20546

FORM 6-K

REPORT OF FOREIGN PRIVATEISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGEACT OF 1934


For the month of May 2026

Commission File Number: 001-39251

BETTERWARE DE MÉXICO, S.A.P.I. DE C.V.

(Name of Registrant)

Cruce Carretera Gdl-Ameca Huaxtla Km 5

El Arenal, Jalisco, 45350, México

+52 (33) 3836-0500

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒       Form 40-F ☐

EXPLANATORY NOTE

Betterware de México, S.A.P.I. de C.V. (NYSE:BWMX) (“BeFra” or the “Company”) hereby advises that certain preliminary financial information included in its earnings release dated February 26, 2026 and filed with the Company’s report on Form 6-K on February 26, 2026 (the “Earnings 6-K”), relating to the fourth quarter and full year ended December 31, 2025, has been updated in connection with the completion of the audit of the Company’s consolidated financial statements for the year ended December 31, 2025.

Such updates include audit adjustments, year-end closing entries, and certain reclassifications identified during the finalization of the Company’s audited financial statements.

Accordingly, the audited consolidated financial statements and related financial information included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2026 (the “Form 20-F”) should be considered the definitive and final reported financial information of the Company for the periods presented. The Company also hereby clarifies that the initial cash balance presented in the earnings release dated April 23, 2026, and filed with the Company’s report on Form 6-K on April 23, 2026, relating to the first quarter ended March 31, 2026, reflected the updated fourth quarter 2025 cash balance.

Set forth in Exhibit 99.1 hereto is selected financial line items as previously reported in the Earnings 6-K and as reflected in the audited consolidated financial statements included in the Form 20-F. Set forth in Exhibit 99.2 hereto is the consolidated financial information of the Company as previously reported in the Earnings 6-K and as reflected in the audited consolidated financial statements included in the Form 20-F.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BETTERWARE DE MÉXICO, S.A.P.I. DE C.V.
By: /s/ Luis Campos
Name: Luis Campos
Title: Board Chairman

Date: May 5, 2026

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Exhibit Index


Exhibit No. Description
99.1 Updated Fourth Quarter 2025 and Full Year Selected Financial Results
99.2 Updated Fourth Quarter 2025 and Full Year Financial Information
3

Exhibit 99.1


Q4 2025 Select Consolidated Financial Information

Q4 2025
Results in ‘000 MXN As updated As presented As updated As presented
Net Revenue $ 3,803,922 $ 3,825,539 $ -21,617 $ 14,243,015 $ 14,264,632 $ -21,617
Gross Margin 64.7 % 65.0 % -0.3 % 66.6 % 66.6 % 0.0 %
EBITDA $ 710,822 $ 726,463 $ -15,641 $ 2,647,048 $ 2,662,689 $ -15,641
EBITDA Margin 18.7 % 19.0 % -0.3 % 18.6 % 18.7 % -0.1 %
Net Income $ 267,848 $ 249,851 $ 17,997 $ 1,060,753 $ 1,042,756 $ 17,997
Adj. Net Income $ 267,848 $ 249,851 $ 17,997 $ 1,060,753 $ 1,042,756 $ 17,997
EPS 6.70 27.94
Free Cash Flow $ 1,039,999 $ 1,132,307 $ -92,308 $ 2,129,883 $ 2,222,191 $ -92,308
Net Debt / EBITDA 1.56 1.56
Interest Coverage 4.16 4.16

Q4 2025 Updated Financial Results by Business


Betterware Mexico & Subs

Key Financial and Operating Metrics


Q4 2025
Resultsin ‘000 MXN As updated As presented As updated As presented
Net Revenue $ 1,439,415 $ 1,474,205 $ -34,790 $ 5,688,659 $ 5,723,449 $ -34,790
Gross Margin 48.7 % 52.6 % -3.9 % 54.0 % 55.0 % -1.0 %
EBITDA $ 235,129 $ 263,529 $ -28,400 $ 1,100,036 $ 1,128,436 $ -28,400
EBITDA Margin 16.3 % 17.9 % -1.6 % 19.3 % 19.7 % -0.4 %
Free Cash Flow $ 383,583 $ 383,800 $ -217 $ 746,194 $ 746,411 $ -217

Jafra Mexico

Key Financial and Operating Metrics


Q4 2025
Results in ‘000 MXN As updated As presented As updated As presented
Net Revenue $ 2,126,042 $ 2,112,869 $ 13,173 $ 7,601,871 $ 7,588,698 $ 13,173
Gross Margin 74.1 % 72.2 % 1.9 % 74.7 % 74.2 % 0.5 %
EBITDA $ 461,565 $ 452,697 $ 8,868 $ 1,559,391 $ 1,550,523 $ 8,868
EBITDA Margin 21.7 % 21.4 % 0.3 % 20.5 % 20.4 % 0.1 %
Free Cash Flow $ 622,847 $ 731,368 $ -108,521 $ 1,311,010 $ 1,419,531 $ -108,521

Jafra US

Key Financial and Operating Metrics

Q4 2025
Results in ‘000 MXN As updated As presented As updated As presented
Net Revenue $ 238,465 $ 238,465 $ 0 $ 952,485 $ 952,485 $ 0
Gross Margin 77.4 % 77.4 % 0.0 % 76.1 % 76.1 % 0.0 %
EBITDA $ 14,128 $ 10,237 $ 3,891 $ -12,379 $ -16,270 $ 3,891
EBITDA Margin 5.9 % 4.3 % 1.6 % -1.3 % -1.7 % 0.4 %
Free Cash Flow $ 33,569 $ 17,139 $ 16,430 $ 72,679 $ 56,249 $ 16,430
Q4 2025
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Resultsin ‘000 USD As updated As presented As updated As presented
Net Revenue $ 12,996 $ 12,996 $ 0 $ 49,624 $ 49,624 $ 0
Gross Margin 77.4 % 77.4 % 0.0 % 76.1 % 76.1 % 0.0 %
EBITDA $ 771 $ 556 $ 215 $ -575 $ -790 $ 215
EBITDA Margin 5.93 % 4.3 % 1.6 % -1.2 % -1.6 % 0.4 %

Exhibit 99.2

Appendix

Financial Statements

Betterware de México, S.A.P.I.de C.V.

Consolidated Statements of FinalPosition

As of December 31, 2025

(In Thousands of Mexican Pesos)

As updated As presented
Assets
Cash and cash equivalents 328,344 311,914 16,430
Trade accounts receivable, net 1,181,447 1,197,877 -16,430
Accounts receivable from related parties 0 282 -282
Account receivable “San Angel” 78,862 78,862 0
Inventories 1,997,197 2,045,654 -48,457
Prepaid expenses 91,678 111,005 -19,327
Income tax recoverable 120,557 84,149 36,408
Derivative financial instruments 0 0 0
Non-current assets held for sale 40,000 33,800 6,200
Other assets 105,770 81,149 24,621
Total current assets 3,943,855 3,944,692 -837
Account receivable “San Angel” 24,689 24,689 0
Property, plant and equipment, net 1,716,951 1,716,951 0
Right of use assets, net 336,588 336,588 0
Deferred income tax 452,979 455,085 -2,106
Intangible assets, net 1,503,887 1,503,887 0
Goodwill 1,599,718 1,599,718 0
Other assets 14,241 14,414 -173
Total non-current assets 5,649,053 5,651,332 -2,279
Total assets 9,592,908 9,596,024 -3,116
Liabilities and Stockholders’ Equity
Short-term debt and borrowings 1,024,467 1,024,467 0
Accounts payable to suppliers 1,793,744 1,799,883 -6,139
Accrued expenses 343,290 344,893 -1,603
Provisions 722,237 733,887 -11,650
Value added tax payable 93,917 93,917 0
Statutory employee profit sharing 146,528 148,672 -2,144
Lease liability 134,730 134,730 0
Derivative financial instruments 26,238 26,238 0
Total current liabilities 4,285,151 4,306,687 -21,536
Employee benefits 147,991 147,991 0
Deferred income tax 495,118 493,258 1,860
Lease liability 221,975 221,975 0
Long term debt and borrowings 3,083,187 3,083,187 0
Total non-current liabilities 3,948,271 3,946,411 1,860
Total liabilities 8,233,422 8,253,098 -19,676
Stockholders’ Equity
Capital stock 321,312 321,312 0
Share premium account -25,264 -25,264 0
Retained earnings 1,102,255 1,084,258 17,997
Other comprehensive income -36,990 -35,561 -1,429
Non-controlling interest -1,827 -1,819 -8
Total Stockholders’ Equity 1,359,486 1,342,926 16,560
Total Liabilities and Stockholders’ Equity 9,592,908 9,596,024 -3,116
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Betterware de México, S.A.P.I.de C.V.

Consolidated Statements of Profitor Loss and Other Comprehensive Income

For the three-months ended December31, 2025

(In Thousands of Mexican Pesos)

As updated As presented
Net revenue 3,803,922 3,825,539 -21,617
Cost of sales 1,343,979 1,339,342 4,637
Gross profit 2,459,943 2,486,197 -26,254
Administrative expenses 559,965 580,152 -20,187
Selling expenses 1,103,068 1,088,186 14,882
Distribution expenses 182,596 187,904 -5,308
Total expenses 1,845,629 1,856,242 -10,613
Operating income 614,314 629,955 -15,641
Interest expense -118,826 -118,757 -69
Interest income 4,639 4,639 0
Foreign exchange gain, net 6,908 6,908 0
Financing cost, net -107,279 -107,210 -69
Income before income taxes 507,035 522,745 -15,710
Income taxes 237,253 270,952 -33,699
Net income including minority interest 269,782 251,793 17,989
Non-controlling interest loss -1,934 -1,942 8
Net income 267,848 249,851 17,997
Concept As updated As presented
--- --- --- --- --- --- --- --- --- ---
Net income 269,782 251,793 17,989
(+) Income taxes 237,253 270,952 -33,699
(+) Financing cost, net 107,279 107,210 69
(+) Depreciation and amortization 96,508 96,508 0
EBITDA 710,822 726,463 -15,641
EBITDA margin 18.7 % 19.0 % -0.3 %
EBITDA adjusted 710,822 726,463 -15,641
EBITDA margin adjusted 18.7 % 19.0 % -0.3 %
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Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Profit or Loss and Other ComprehensiveIncome

For the twelve-months ended December 31, 2025

(In Thousands of Mexican Pesos)

As updated As presented
Net revenue 14,243,015 14,264,632 -21,617
Cost of sales 4,762,760 4,758,123 4,637
Gross profit 9,480,255 9,506,509 -26,254
Administrative expenses 2,446,350 2,466,537 -20,187
Selling expenses 4,079,141 4,064,259 14,882
Distribution expenses 697,251 702,559 -5,308
Total expenses 7,222,742 7,233,355 -10,613
Operating income 2,257,513 2,273,154 -15,641
Interest expense -541,045 -540,976 -69
Interest income 34,090 34,090 0
Loss in valuation of financial derivative instruments -108,846 0 -108,846
Foreign exchange (loss) gain, net 80,073 -28,773 108,846
Financing cost, net -535,728 -535,659 -69
Income before income taxes 1,721,785 1,737,495 -15,710
Income taxes 660,981 694,680 -33,699
Net income including minority interest 1,060,804 1,042,815 17,989
Non-controlling interest loss -51 -59 8
Net income 1,060,753 1,042,756 17,997
Concept As updated As presented
--- --- --- --- --- --- --- --- --- ---
Net income 1,060,804 1,042,815 17,989
(+) Income taxes 660,981 694,680 -33,699
(+) Financing cost, net 535,728 535,659 69
(+) Depreciation and amortization 389,535 389,535 0
EBITDA 2,647,048 2,662,689 -15,641
EBITDA margin 18.6 % 18.7 % -0.1 %
EBITDA adjusted 2,647,048 2,662,689 -15,641
EBITDA margin adjusted 18.6 % 18.7 % -0.1 %
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Betterware de México, S.A.P.I. de C.V.

Consolidated Statements of Cash Flows

For the twelve-months ended December 31, 2025

(In Thousands of Mexican Pesos)

As updated As presented
Cash flows from operating activities:
Profit for the period 1,060,804 1,042,815 17,989
Adjustments for:
Income tax expense recognized in profit of the year 660,981 694,680 -33,699
Depreciation and amortization of non-current assets 389,535 389,535 0
Impairment of fix asset 0 6,200 -6,200
Interest income recognized in profit or loss -34,090 -34,090 0
Interest expense recognized in profit or loss 541,045 540,976 69
Gain of property, plant, equipment sale -8,474 -8,615 141
Loss in valuation of financial derivative instruments 108,846 108,846 0
Currency effect 26,936 26,964 -28
Movements in not- controlling interest 0 -156 156
Other gains and losses 0 -15,372 15,372
Movements in working capital:
Trade accounts receivable -48,354 -64,784 16,430
Trade accounts receivable from related parties 250 -32 282
Trade account receivable “San Angel” 0 108,071 -108,071
Inventory, net 511,113 462,656 48,457
Prepaid expenses and other assets 65,100 40,845 24,255
Accounts payable to suppliers and accrued expenses -423,470 -396,925 -26,545
Provisions -26,681 -15,031 -11,650
Value added tax payable 22,725 22,725 0
Statutory employee profit sharing 7,273 9,417 -2,144
Trade accounts payable to related parties -1,237 -1,237 0
Income taxes paid -608,062 -608,062 0
Employee benefits -7,513 19,679 -27,192
Net cash generated by operating activities 2,236,727 2,329,105 -92,378
Cash flows from investing activities:
Acquisition of non-controlling interest of Guatemala 0 -896 896
Payments for property, plant and equipment, net -114,475 -114,374 -101
Proceeds from disposal of property, plant and equipment, net 7,631 7,460 171
Proceeds from disposal of buildings 108,071 0 108,071
Interest received 34,090 34,090 0
Net cash (used in) generated by investing activities 35,317 -73,720 109,037
Cash flows from financing activities:
Repayment of borrowings -6,257,700 -6,257,700 0
Proceeds from borrowings 5,540,700 5,540,700 0
Interest paid -502,458 -502,458 0
Lease payment -169,904 -170,571 667
Acquisition of non-controlling interest of Guatemala -896 0 -896
Dividends paid -850,000 -850,000 0
Net cash used in financing activities -2,240,258 -2,240,029 -229
Net increase in cash and cash equivalents 31,786 15,356 16,430
Cash and cash equivalents at the beginning of the period 296,558 296,558 0
Cash and cash equivalents at the end of the period 328,344 311,914 16,430
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