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Mar 31, 2024
AirSculpt Q1 2024 Earnings Report
AirSculpt's Q1 2024 performance was marked by revenue growth and a return to profitability amidst macroeconomic challenges.
Key Takeaways
AirSculpt Technologies reported a 3.9% increase in revenue to $47.6 million and a net income of $6.0 million for Q1 2024, compared to a net loss in the prior year period. The company experienced softness due to macroeconomic headwinds but saw growth from new locations and investments in customer acquisition.
Cases increased by 2.9% year-over-year, reaching 3,746.
Revenue grew by 3.9% compared to the prior year, totaling $47.6 million.
Net income was $6.0 million, a significant improvement from the $(0.0) million in the prior year period.
The company is maintaining its full year 2024 revenue and adjusted EBITDA guidance.
AirSculpt
AirSculpt
Forward Guidance
The Company is maintaining its full year 2024 revenue and adjusted EBITDA guidance.
Positive Outlook
- Revenues of approximately $220 million
- Adjusted EBITDA of approximately $50 million
- Adjusted EBITDA to cash flow from operations conversion ratio of approximately 65%
- Six new centers to open in the second half of 2024