AirSculpt Technologies, Inc. has recently released its 10-Q report, providing insights into its financial performance and operational metrics for the three and nine months ended September 30, 2024. The company, which operates as a holding company for EBS Intermediate Parent LLC, specializes in providing body contouring procedure services in the United States, offering next-generation body contouring procedures such as AirSculpt, AirSculpt+, and AirSculpt Smooth, among others. It operates across 31 centers in 20 states, Canada, and the United Kingdom.
In the 10-Q report, AirSculpt Technologies revealed that for the three and nine months ended September 30, 2024, it performed 3,277 and 10,972 cases, respectively, compared to 3,426 and 11,252 for the same periods in 2023. The company generated approximately $42.5 million and $141.2 million of revenue for the three and nine months ended September 30, 2024, representing a 9% decline in revenue for the three months and a 5% decline for the nine months compared to the same periods in the prior year.
Key operational and business metrics were also highlighted in the report. The revenue per case for the three months ended September 30, 2024, was $12,984, reflecting a 4.9% decline from the same period in 2023. Similarly, for the nine months ended September 30, 2024, the revenue per case was $12,867, representing a 2.4% decrease from the same period in 2023. The company attributed the same-store revenue decline to weaker than expected performance across the broader aesthetics and high-end retail industries.
AirSculpt Technologies also provided non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Net Income per Share. The company believes that these measures are important in assessing its operating performance and illustrating underlying trends in its business.
The report further detailed the components of results of operations, including revenue, cost of service, operating expenses (comprising cost of service, selling, general and administrative expenses, and depreciation and amortization), interest expense, and net loss.
The 10-Q report offers a comprehensive overview of AirSculpt Technologies' financial performance and operational metrics, shedding light on its revenue, case volumes, and key financial measures for the specified periods. As a result of these announcements, the company's shares have moved 20.7% on the market, and are now trading at a price of $8.68. For more information, read the company's full 10-Q submission here.
