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Jun 30, 2024
AirSculpt Q2 2024 Earnings Report
AirSculpt's Q2 2024 results reflected a challenging consumer spending environment, with profitability pressured by brand awareness spend.
Key Takeaways
AirSculpt Technologies reported a decrease in revenue to $51.0 million and a net loss of $3.2 million for the second quarter of 2024. The company is revising its full year 2024 revenue and adjusted EBITDA guidance.
Case volume decreased by 5.7% to 3,949.
Revenue declined by 8.4% to $51.0 million.
Net loss was $3.2 million, compared to a net income of $1.8 million in the prior year quarter.
Adjusted EBITDA was $6.9 million, down from $14.6 million in the same quarter last year.
AirSculpt
AirSculpt
Forward Guidance
The Company is revising its full year 2024 revenue and adjusted EBITDA guidance as follows: Revenues of approximately $180 to $190 million and Adjusted EBITDA of approximately $23 to $28 million.
Positive Outlook
- Revenues of approximately $180 to $190 million
- Adjusted EBITDA of approximately $23 to $28 million
- Adjusted EBITDA to cash flow from operations conversion ratio of approximately 50%
- Five new centers to open in the second half of 2024