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AirSculpt Technologies Inc. (AIRS+6.16%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenue to $180.4 million from $195.9 million in the previous year, representing a decline of approximately 7.9%. The decline is attributed to weaker than expected performance across the broader aesthetics and high-end retail industries.
Cost of service for the year was $71.4 million, accounting for 39.6% of revenue, compared to 37.8% in the previous year. This increase in cost ratio is due to the decline in revenue and fixed costs such as rent and nursing expenses.
Selling, general, and administrative expenses decreased to $98.9 million from $102.4 million, primarily due to a decrease in equity-based compensation.
The company reported a net loss of $8.3 million for the year, compared to a net loss of $4.5 million in the previous year.
Adjusted EBITDA was reported at $20.7 million, down from $43.2 million in the previous year, with the decline attributed to reduced revenue and increased marketing investments.
AirSculpt Technologies had a working capital of $(11.5) million as of December 31, 2024, compared to $(4.4) million in the previous year.
The company opened five new centers during the year, increasing its total number of procedure rooms to 67 across 32 centers.
AirSculpt Technologies is focusing on stabilizing revenue growth through optimizing marketing investments, improving sales strategies, expanding consumer financing options, and introducing new services in skin tightening.
The filing also details a credit agreement amendment that modifies financial covenants and increases the applicable interest margin, with the maturity date adjusted to May 11, 2027.
AirSculpt Technologies continues to focus on its proprietary AirSculpt® method, offering minimally invasive body contouring procedures across its centers in the U.S., Canada, and the U.K.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AirSculpt Technologies Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.