AirSculpt Q3 2024 Earnings Report
Key Takeaways
AirSculpt Technologies reported a revenue of $42.5 million and a net loss of $6.0 million for the third quarter of 2024. The company's performance was in line with expectations, driven by new center openings and strategic progress, although same-center sales remained down. The company is focused on improving lead conversion and managing costs to return to positive revenue growth and improve margins.
Case volume decreased by 4.3% to 3,277 compared to Q3 2023.
Revenue declined by 9.1% to $42.5 million from $46.8 million in Q3 2023.
Net loss was $6.0 million, compared to a net loss of $1.7 million in Q3 2023.
Adjusted EBITDA was $4.7 million, down from $9.1 million in Q3 2023.
AirSculpt
AirSculpt
Forward Guidance
The Company affirms the guidance provided on October 24, 2024 for revenue in the range of $183 million to $189 million as compared to its previous guidance provided with second quarter fiscal 2024 earnings of revenue in the range of $180 million to $190 million. The Company is also maintaining its full year 2024 adjusted EBITDA guidance as follows: 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 2024