AirSculpt Technologies Inc (AIRS, Financial) released its 8-K filing on March 14, 2025, reporting its financial results for the fourth quarter and full year of fiscal 2024. The company, known for its premium body contouring procedures under the Elite Body Sculpture brand, faced a challenging year with a decline in revenue and an increase in net loss.
Company Overview
AirSculpt Technologies Inc is a national provider of body contouring procedures, delivering a premium consumer experience through its proprietary AirSculpt method. This minimally invasive procedure removes unwanted fat and tightens skin, offering precise results with minimal recovery time.
Performance and Challenges
In the fourth quarter of 2024, AirSculpt Technologies Inc reported a revenue of $39.2 million, a 17.7% decline from $47.6 million in the same quarter of the previous year. This figure fell short of the analyst estimate of $43.39 million. The company also reported a net loss of $5.0 million, compared to a net loss of $4.6 million in the fourth quarter of 2023. The case volume decreased by 16.7% to 3,064 cases from 3,680 cases in the previous year.
The full year results showed a revenue decline of 7.9% to $180.4 million from $195.9 million in 2023, missing the annual revenue estimate of $184.56 million. The net loss for the year was $8.3 million, compared to a net loss of $4.5 million in 2023. The company faced challenges in stabilizing same-center sales performance and optimizing its marketing investment.
Financial Achievements and Industry Importance
Despite the challenges, AirSculpt Technologies Inc achieved an adjusted EBITDA of $1.9 million for the fourth quarter, although this was a significant decrease from $10.1 million in the previous year. For the full year, adjusted EBITDA was $20.7 million, down from $43.2 million in 2023. These metrics are crucial for the company as they reflect the underlying trends in its business and its historical operating performance.
Key Financial Metrics
| Metric | Q4 2024 | Q4 2023 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Revenue | $39.2 million | $47.6 million | $180.4 million | $195.9 million |
| Net Loss | $5.0 million | $4.6 million | $8.3 million | $4.5 million |
| Adjusted EBITDA | $1.9 million | $10.1 million | $20.7 million | $43.2 million |
| Case Volume | 3,064 | 3,680 | 14,036 | 14,932 |
Analysis and Future Outlook
AirSculpt Technologies Inc is undergoing a strategic transformation to stabilize its same-center sales performance and improve its platform for revenue and profit growth. The company has implemented a cost reduction program expected to deliver approximately $3 million in annualized savings. However, the reduction in marketing activity at the end of 2024 is expected to impact the first quarter of 2025.
“While we have experienced an improvement in our lead generation as we begin 2025, we expect the reduction in our marketing activity at the end of 2024 to pressure our first quarter performance. That said, we expect to deliver improving trends sequentially each quarter as our strategic priorities gain traction,” stated Yogi Jashnani, Chief Executive Officer.
AirSculpt Technologies Inc's focus on optimizing marketing investments, enhancing sales strategies, and expanding financing options for consumers is crucial for its recovery and growth in the competitive healthcare providers and services industry.
Explore the complete 8-K earnings release (here) from AirSculpt Technologies Inc for further details.
