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MIAMI BEACH, Fla. - AirSculpt Technologies, Inc. (NASDAQ:AIRS), a provider of premium body contouring procedures, reported fourth-quarter earnings that fell short of analyst expectations, sending shares down 2.7% in response.
The company posted an adjusted loss of $0.09 per share for the quarter, missing the analyst estimate of $0.02 earnings per share. Revenue came in at $39.2 million, below the consensus forecast of $44.4 million and down 17.7% YoY from $47.6 million.
Case volume declined 16.7% to 3,064 procedures compared to 3,680 in the same quarter last year. The company reported a net loss of $5.0 million for the quarter, wider than the $4.6 million loss in Q4 2023.
"Following a challenging 2024, I am eager to help write the next chapter for AirSculpt and focus on setting a strategy, implementing business processes and developing a culture that delivers meaningful value for our shareholders," said CEO Yogi Jashnani.
Jashnani outlined plans to stabilize same-center sales performance through optimized marketing, improved sales strategies, and expanded consumer financing options. The company has also implemented a cost reduction program expected to yield $3 million in annual savings.
For the full year 2024, AirSculpt reported revenue of $180.4 million, down 7.9% from $195.9 million in 2023. Case volume declined 6% to 14,036 procedures.
The company ended the year with $8.2 million in cash and cash equivalents. It generated $11.4 million in operating cash flow for 2024, down from $24.0 million in 2023.
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