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Sep 30, 2024
AirSculpt Q3 2024 Earnings Report
Reported third quarter results, with revenue and Adjusted EBITDA in line with expectations, despite challenges in the consumer environment.
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.
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
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