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Airsculpt Technologies, Inc. (AIRS)
NASDAQ:AIRS
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Airsculpt Technologies, Inc.
(NASDAQ:AIRS)
48Neutral
Positive Factors
Expansion and Growth
AIRS successfully opened 4 new locations in the quarter, with a 5th on track to open.
Leadership and Strategy
New leadership intends to turn back on marketing spend and use techniques that have historically produced results, such as online videos and other social channels.
Negative Factors
Financial Performance
AIRS previewed very disappointing 4Q24 results, missing EBITDA expectations by 70% and coming in well below the company's full-year guidance range.
Revenue Decline
Volume remains under a good deal of pressure, with SS revenue growth continuing to decline to historically low levels, underscored by declining SS cases and SS revenues per case.
Airsculpt Technologies, Inc. (AIRS) vs. S&P 500 (SPY)
Market Cap
$115.98M
Dividend YieldN/A
Average Volume (3M)320.99K
Price to Earnings (P/E)―
Beta (1Y)2.25
Revenue Growth-7.95%
EPS Growth-81.25%
CountryUS
Employees389
SectorHealthcare
Sector Strength76
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.14
Shares Outstanding58,574,516
10 Day Avg. Volume318,813
30 Day Avg. Volume320,987
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.86
Price to Cash Flow (P/CF)14.30
P/FCF Ratio14.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.75Price Target Upside89.39% Upside
Rating ConsensusHold
Number of Analyst Covering2
Airsculpt Technologies, Inc. Business Overview & Revenue Model
Company DescriptionAirsculpt Technologies, Inc. (AIRS) is a leading provider in the cosmetic surgery sector, specializing in minimally invasive body contouring procedures. The company is renowned for its proprietary AirSculpt® procedure, which offers an innovative and less invasive alternative to traditional liposuction. This technology enables precise fat removal, resulting in enhanced body sculpting with minimal downtime for patients.
How the Company Makes MoneyAirsculpt Technologies, Inc. generates revenue primarily through the provision of its AirSculpt® body contouring services. Clients pay for these cosmetic procedures, which are performed in the company's specialized clinics. Revenue is driven by the demand for elective cosmetic surgeries, with pricing based on the specific areas treated and the extent of the procedure. The company may also benefit from repeat business or referrals from satisfied clients. While partnerships and collaborations with other medical or cosmetic institutions could play a role, the company's main earnings are derived from direct consumer sales of its services.
Airsculpt Technologies, Inc. Financial Statement Overview
Summary
Airsculpt Technologies faces financial pressures with declining revenue and profitability, coupled with high leverage. The company's ability to generate cash flow remains a concern, emphasizing the need for strategic adjustments to improve financial health.Income Statement
Airsculpt Technologies has shown a volatile revenue trajectory with a recent decline in revenue and profitability. The gross profit margin remains high, but negative EBIT and a declining net profit margin indicate operational challenges.60
Neutral
Balance Sheet
The company's balance sheet reflects high leverage with a substantial debt-to-equity ratio, raising concerns about financial stability. The equity ratio has decreased, indicating increased reliance on debt financing.50
Neutral
Cash Flow
Cash flow from operations is positive, but free cash flow is negative, suggesting that capital expenditures are impacting liquidity. A declining operating cash flow to net income ratio highlights potential efficiency issues.55
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 180.35M | 195.92M | 168.79M | 133.31M | 62.77M | Gross Profit |
| 180.35M | 121.91M | 106.01M | 88.78M | 39.30M | EBIT |
| -1.82M | 9.48M | -3.47M | 15.77M | 10.03M | EBITDA |
| 10.07M | 19.74M | 3.52M | 23.05M | 15.67M | Net Income Common Stockholders |
| -8.25M | -4.48M | -14.68M | 10.55M | 5.75M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 8.23M | 10.26M | 9.62M | 25.35M | 10.38M | Total Assets |
| 210.00M | 204.02M | 200.76M | 200.55M | 179.61M | Total Debt |
| 34.60M | 99.67M | 107.65M | 100.58M | 49.77M | Net Debt |
| 26.36M | 89.41M | 98.03M | 75.24M | 39.39M | Total Liabilities |
| 130.71M | 120.03M | 129.99M | 117.03M | 55.93M | Stockholders Equity |
| 79.29M | 83.99M | 70.77M | 83.53M | 123.68M |
| Cash Flow | Free Cash Flow | |||
| -2.66M | 14.04M | 11.53M | 19.52M | 10.27M | Operating Cash Flow |
| 11.35M | 23.96M | 24.45M | 26.63M | 13.96M | Investing Cash Flow |
| -14.01M | -9.92M | -12.92M | -7.12M | -3.69M | Financing Cash Flow |
| 630.00K | -13.39M | -27.26M | -4.55M | -5.02M |
Airsculpt Technologies, Inc. Technical Analysis
Negative
1.98
Price Trends
4.03
Negative
5.11
Negative
4.90
Negative
Market Momentum
-0.58
Negative
25.32
Positive
13.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIRS, the sentiment is Negative. The current price of 1.98 is below the 20-day moving average (MA) of 2.61, below the 50-day MA of 4.03, and below the 200-day MA of 4.90, indicating a bearish trend. The MACD of -0.58 indicates Negative momentum. The RSI at 25.32 is Positive, neither overbought nor oversold. The STOCH value of 13.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AIRS.
Airsculpt Technologies, Inc. Risk Analysis
Airsculpt Technologies, Inc. disclosed 74 risk factors in its most recent earnings report. Airsculpt Technologies, Inc. reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Airsculpt Technologies, Inc. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $197.95M | ― | -230.96% | ― | 32.24% | -66.93% | |
53 Neutral | $724.25M | ― | -913.07% | ― | 31.76% | 24.85% | |
49 Neutral | $208.25M | ― | -20.21% | ― | -8.92% | 31.98% | |
48 Neutral | $6.36B | 1.09 | -49.92% | 2.63% | 17.17% | 0.95% | |
48 Neutral | $115.98M | ― | -10.11% | ― | -7.95% | -81.25% | |
36 Underperform | $240.21K | ― | ― | -32.57% | -15.03% |
* Healthcare Sector Average
Performance Comparison
AIRS
Airsculpt Technologies, Inc.
1.98
-3.53
-64.07%
ANIK
Anika Therapeutics
14.01
-11.55
-45.19%
CUTRQ
Cutera
0.01
-1.52
-99.35%
RCEL
Avita Medical
7.50
-7.63
-50.43%
EOLS
Evolus
10.69
-2.61
-19.62%
Airsculpt Technologies, Inc. Earnings Call Summary
Earnings Call Date: Mar 14, 2025 | % Change Since: -32.65% | Next Earnings Date: May 9, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture. While the company is implementing strategic initiatives to drive growth and improve sales conversion, the significant decline in revenue and EBITDA, extended lead conversion time, and challenges from the macroeconomic environment highlight substantial hurdles. However, the potential introduction of new services and revised marketing strategies show promise for future improvement.Highlights
Introduction of New Services
AirSculpt plans to pilot skin tightening services as a standalone offering in the second quarter, aiming to capitalize on increased demand due to trends like GLP-1 usage. This initiative is expected to expand customer reach and generate incremental revenues.
Marketing and Sales Strategy Revamp
The company has focused its marketing spend on new areas such as online video and social marketing channels, and early results have shown a significant increase in lead volume. A new Chief Sales Officer is strengthening the consultative sales model, showing encouraging early signs of lead conversion improvement.
Amendment of Credit Agreement
AirSculpt revised its credit agreement to enhance its ability to invest in the business during its transformation phase, ensuring compliance with bank covenants throughout 2025.
Lowlights
Significant Revenue Decline
Fourth quarter revenue totaled $39.2 million, a decline of 17.7% from the previous year, with same-store revenue down 22.6% due to lower case volume and reduced marketing spend.
Extended Conversion Cycle
The time frame to convert leads into cases increased from approximately 45 days to closer to 60 days in the second half of 2024, impacting sales.
Decreased Adjusted EBITDA
Adjusted EBITDA for the fourth quarter was $1.9 million or 4.7% of revenue, down from $10.1 million or 21.2% of revenue in the previous year. The decline was driven by decreased revenue and increased costs related to marketing and corporate expenses.
Pressure from Macroeconomic Environment
The company continues to face challenges due to a difficult macroeconomic environment, impacting consumer spending and sales across the aesthetics space.
Company Guidance
During the AirSculpt Technologies Inc. Fourth Quarter 2024 Earnings Call, CEO Yogesh Jashnani provided guidance for the upcoming fiscal year. He noted a revenue decline of 17.7% in the fourth quarter of 2024 compared to the previous year, with case volumes down 16.7% and same-store revenue dropping 22.6%. The company reported a total revenue of $180.4 million for the year, with an adjusted EBITDA of $20.7 million, resulting in an EBITDA margin of 11.5%, down from 22.1% in 2023. The first quarter of 2025 is expected to show same-store sales performance similar to the fourth quarter of 2024, with improvements anticipated as the year progresses. Jashnani emphasized strategic priorities, including enhancing marketing, improving sales conversion, and rolling out new services like skin tightening to drive growth. He also mentioned actions to improve lead conversion time, which had increased from the historical 45 days to approximately 60 days in the latter half of 2024. Despite pausing new de novo openings, the company is focusing on improving same-center performance and has adjusted its credit agreement to support these initiatives.Airsculpt Technologies, Inc. Corporate Events
Executive/Board Changes
Airsculpt Technologies Updates Executive Compensation and Leadership
Neutral
Dec 26, 2024
Airsculpt Technologies, Inc. has announced amendments to the employment agreement of its Chief Accounting Officer, Philip Bodie. The company’s Board of Directors approved an increase in his 2025 annual base salary to $325,000 and a target short-term incentive compensation of $162,500. Additionally, Mr. Bodie will receive a 2025 annual equity award valued at 50% of his base salary. In other developments, Pamela Netzky resigned from her role as a director and member of the Nominating and Corporate Governance Committee, with no disagreements cited regarding company operations or policies.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.