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AirSculpt Technologies, Inc. (NASDAQ: AIRS) is an innovative leader in the body contouring industry, delivering premium cosmetic procedures under its renowned brand, Elite Body Sculpture. Utilizing its patented AirSculpt® technology, the company offers minimally invasive procedures that remove unwanted fat, tighten skin, and sculpt targeted areas of the body. These procedures are designed for quick healing with minimal bruising, making them highly sought after among patients looking for effective and efficient results.
Established in 2012, AirSculpt has expanded its reach with over 27 state-of-the-art facilities across the United States, Canada, and the United Kingdom. Recent expansions include the redesign of its Scottsdale location and the relocation of its Atlanta office to cater to the growing demand for its services. The company has continually innovated, recently introducing the AirSculpt® Lift for facial rejuvenation and AirSculpt®+ for enhanced skin tightening, further solidifying its position in the market.
Financially, AirSculpt has shown robust growth, reporting a significant increase in both revenue and case volume. In the third quarter of 2023, the company saw a 20.3% rise in revenue, amounting to $46.8 million, and a 19% increase in case volume to 3,426 cases. Despite facing macroeconomic challenges, the company's strategic investments in new locations and customer acquisition have continued to drive its performance. AirSculpt's financial health is further strengthened by a positive cash flow and a solid balance sheet, with $11.0 million in cash and equivalents as of March 31, 2024.
A key aspect of AirSculpt's success is its commitment to providing an unmatched patient experience. The company's procedures are not only effective but also comfortable, with patients remaining awake during the process. Partnerships with influencers and celebrities, like Kristen Doute from Bravo's The Valley, have enhanced the company's visibility and credibility, attracting a broader audience.
Looking forward, AirSculpt remains dedicated to expanding its footprint with plans to open six new centers in 2024. The company's outlook projects continued revenue growth and increased adjusted EBITDA, demonstrating confidence in its ability to scale and meet the rising demand for body contouring services. AirSculpt Technologies uses its website as a primary channel for disseminating important company information and engages regularly with investors through conference calls and updates.
AirSculpt Technologies (NASDAQ: AIRS) has expanded its operations with the opening of two new centers in Austin, Texas, and Orange County, California, bringing its total to 24 locations across the U.S. and Canada. The new centers aim to meet the increasing demand for AirSculpt's patented body contouring procedures, which are known for their minimal invasiveness and quick recovery times. Over 40,000 procedures have already been performed, indicating a strong market presence. CEO Todd Magazine expressed enthusiasm about the expansion, highlighting the growing consumer interest in their premium services.
AirSculpt Technologies, Inc. (NASDAQ:AIRS) announced its fourth quarter and full year 2022 results, highlighting significant growth in case volume and revenue.
Fourth quarter case volume increased by 15.7% year-over-year, reaching 3,337, while revenue rose by 8.4% to $40.7 million. For the full year, case volume grew 18.2% to 13,063 and revenue surged 26.6% to $168.8 million. Despite a diluted loss per share of $(0.26), the company reported an adjusted net income of $0.37 per share. Looking ahead, AirSculpt expects revenues between $187 million and $192 million for 2023, driven by the opening of five new centers.
AirSculpt Technologies, Inc. (NASDAQ: AIRS) will report its fourth quarter 2022 financial results on March 10, 2023, before market open. A conference call is scheduled for 8:30 a.m. Eastern Time on the same day, accessible via phone or a live webcast on the company’s investor relations website. AirSculpt is a leading provider of body contouring procedures utilizing its proprietary AirSculpt® method, offering a premium consumer experience through minimally invasive fat removal. The company aims to deliver exceptional results to its patients, reflecting its commitment to quality care.
AirSculpt Technologies announces a leadership change with Todd Magazine appointed as the new CEO, effective at the end of January 2023. Dr. Aaron Rollins, the company's founder, moves to the role of Executive Chairman, focusing on strategic guidance. Magazine, with over 30 years of experience in retail and brand building, aims to leverage AirSculpt's proprietary technology to accelerate growth. The company maintains its full-year 2022 revenue guidance of $168-$170 million, indicating stable financial expectations moving forward.
AirSculpt® Technologies (NASDAQ: AIRS) is set to showcase the results of body contouring procedures performed on former Real Housewives stars Vicki Gunvalson and LeeAnne Locken via Instagram Live on December 15. The event will reveal their experiences documented through AirSculpt TV. Participants shared positive feedback about the quick recovery and transformative results from their AirSculpt treatments. With over 30,000 procedures performed, the company focuses on providing minimally invasive body contouring solutions through its Elite Body Sculpture brand.
AirSculpt Technologies (NASDAQ: AIRS) announces the opening of its first international Elite Body Sculpture location in London, set for the first half of 2023. This expansion aims to broaden its reach and enhance its premium body contouring services. The company plans to open a total of five new locations in 2023. Dr. Aaron Rollins, CEO, expressed enthusiasm for the London location, highlighting a luxury experience for clients, and welcomed Rana Das-Gupta as the new Medical Director, emphasizing his expertise in body fat reduction.
AirSculpt Technologies (NASDAQ: AIRS) announces the opening of its first international Elite Body Sculpture center in Toronto, Canada, marking a significant milestone in its global expansion. This new location offers AirSculpt's premium, minimally invasive body contouring procedures aimed at providing comfort and precision. The founder, Dr. Aaron Rollins, emphasized the rising demand for the proprietary AirSculpt method, promising Canadians enhanced body transformation experiences. For more information about the Toronto site and services, visit www.airsculpt.ca.
AirSculpt Technologies (NASDAQ:AIRS) reported a 12.2% revenue increase to $38.9 million for Q3 2022, driven by new center openings. However, a net loss of $7.4 million was recorded, impacted by increased equity compensation and public company expenses. Year-to-date revenue rose 33.8% to $128.1 million, with a case volume growth of 19.1%. Adjusted EBITDA decreased to $9.2 million, affected by rising costs. The Company lowered its 2022 revenue outlook to $168-170 million and adjusted EBITDA forecast to $45-47 million, while planning four new center openings.
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