Airsculpt Technologies, Inc. ( (AIRS) ) has released its Q3 earnings. Here is a breakdown of the information Airsculpt Technologies, Inc. presented to its investors.
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AirSculpt Technologies, Inc. is a national provider specializing in premium body contouring procedures, offering minimally invasive treatments aimed at optimizing comfort and precision in the healthcare sector.
In its third quarter fiscal 2024 earnings report, AirSculpt Technologies announced a revenue of $42.5 million, with a net loss of $6.0 million and an adjusted EBITDA of $4.7 million. The company highlighted the opening of four new centers and ongoing strategic efforts to boost lead conversion rates despite a challenging consumer environment.
Key financial metrics indicated a 9.1% decline in revenue compared to the same quarter in fiscal 2023, accompanied by a net loss increase from $1.7 million to $6.0 million. The adjusted EBITDA also saw a decrease from $9.1 million to $4.7 million. On a year-to-date basis, revenue fell by 4.8%, and adjusted EBITDA dropped significantly, reflecting ongoing challenges in the market.
Despite these setbacks, AirSculpt Technologies remains committed to its growth strategy, affirming its revenue guidance for 2024 between $183 million and $189 million. The company also plans to open five new centers by the end of the year, aiming to enhance operational efficiency and return to positive revenue growth.
Looking ahead, AirSculpt Technologies is focused on overcoming current economic obstacles and continuing its expansion, with an emphasis on improving margins and achieving sustainable revenue increases through strategic initiatives.
