Revenue growth has turned negative with a 15.82% year-over-year contraction, while gross margins have compressed to 52.8% in the most recent quarter.
| Sales/Revenue | 151.84M | 151.82M | 180.35M | 195.92M | 168.79M | 133.31M | 62.77M | 41.24M |
| Revenue Growth % | -11.78% | -15.82% | -7.95% | 16.07% | 26.61% | 112.4% | 52.21% | - |
| Cost of Goods Sold | 59.85M | 61.69M | 71.38M | 74.01M | 58.28M | 44.54M | 23.47M | 15.49M |
| COGS % of Revenue | - | 40.63% | 39.58% | 37.78% | 34.53% | 33.41% | 37.39% | 37.56% |
| Gross Profit | 91.99M | 90.13M | 108.97M | 121.91M | 110.51M | 88.78M | 39.3M | 25.75M |
| Gross Margin % | 60.58% | 59.37% | 60.42% | 62.22% | 65.47% | 66.59% | 62.61% | 62.44% |
| Gross Profit Growth % | - | -17.29% | -10.61% | 10.31% | 24.48% | 125.93% | 52.61% | - |
| Operating Expenses | 103.33M | 94.96M | 110.78M | 112.42M | 115.06M | 73.01M | 29.26M | 25.09M |
| OpEx % of Revenue | - | 62.55% | 61.43% | 57.38% | 68.16% | 54.77% | 46.62% | 60.83% |
| Selling, General & Admin | 87.49M | 82.18M | 105.58M | 108.28M | 105.92M | 65.73M | 23.62M | 20.13M |
| SG&A % of Revenue | - | 54.13% | 58.54% | 55.27% | 62.75% | 49.31% | 37.63% | 48.8% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2.05M | 12.78M | 5.2M | 4.14M | 9.14M | 7.28M | 5.64M | 4.96M |
| Operating Income | -11.34M | -4.83M | -1.82M | 9.48M | -4.54M | 15.77M | 10.03M | 663K |
| Operating Margin % | -7.47% | -3.18% | -1.01% | 4.84% | -2.69% | 11.83% | 15.98% | 1.61% |
| Operating Income Growth % | - | -166.13% | -119.15% | 308.65% | -128.82% | 57.16% | 1413.27% | - |
| EBITDA | 1.22M | 7.95M | 10.07M | 19.74M | 3.52M | 22.36M | 15.67M | 5.62M |
| EBITDA Margin % | 0.8% | 5.24% | 5.58% | 10.07% | 2.08% | 16.78% | 24.97% | 13.64% |
| EBITDA Growth % | 158.41% | -21.09% | -48.97% | 461.32% | -84.28% | 42.69% | 178.75% | - |
| D&A (Non-Cash Add-back) | 12.56M | 12.78M | 11.89M | 10.25M | 8.06M | 6.6M | 5.64M | 4.96M |
| EBIT | -7.42M | -11.56M | -1.82M | 9.48M | -3.47M | 15.77M | 10.03M | 663K |
| Net Interest Income | -5.65M | -6.08M | -6.25M | -6.49M | -6.75M | -4.89M | -2.46M | -2.88M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 5.65M | 6.08M | 6.25M | 6.49M | 6.75M | 4.89M | 2.46M | 2.88M |
| Other Income/Expense | -2.66M | -12.8M | -6.25M | -6.49M | -6.75M | -4.89M | -2.46M | -2.88M |
| Pretax Income | -14M | -17.64M | -8.06M | 3M | -11.3M | 10.88M | 7.58M | -2.21M |
| Pretax Margin % | -9.22% | -11.62% | -4.47% | 1.53% | -6.69% | 8.16% | 12.07% | -5.36% |
| Income Tax | -2.78M | -5.97M | 188K | 7.48M | 3.38M | 329K | 0 | 0 |
| Effective Tax Rate % | 19.86% | 33.85% | -2.33% | 249.4% | -29.95% | 3.02% | 0% | 0% |
| Net Income | -11.22M | -11.67M | -8.25M | -4.48M | -14.68M | 10.55M | 7.58M | -2.21M |
| Net Margin % | -7.39% | -7.68% | -4.58% | -2.29% | -8.7% | 7.91% | 12.07% | -5.36% |
| Net Income Growth % | 34.51% | -41.4% | -84.22% | 69.49% | -239.12% | 39.25% | 442.54% | - |
| Net Income (Continuing) | -11.22M | -11.67M | -8.25M | -4.48M | -14.68M | 10.55M | 7.58M | -2.21M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.16 | -0.19 | -0.14 | -0.08 | -0.26 | -0.01 | 0.14 | -0.09 |
| EPS Growth % | 39.53% | -35.71% | -77.44% | 69.65% | - | -105.07% | 253.17% | - |
| EPS (Basic) | - | -0.19 | -0.14 | -0.08 | -0.26 | -0.01 | 0.14 | -0.09 |
| Diluted Shares Outstanding | 69.46M | 60.45M | 57.69M | 56.78M | 55.68M | 55.64M | 55.64M | 55.64M |
| Basic Shares Outstanding | 69.46M | 60.45M | 57.69M | 56.78M | 55.68M | 55.64M | 55.64M | 55.64M |
| Dividend Payout Ratio | - | - | - | - | - | 633.65% | 60.93% | - |
High Customer Acquisition Costs
According to recent financial disclosures, AIRS has experienced a sustained period of revenue decline, with the most recent quarterly figures showing a 15.82% year-over-year contraction, signaling significant challenges in maintaining procedure volume within its elective, high-ticket aesthetic service model across its clinical footprint.
The consistent downward trajectory in top-line performance suggests that the company's transactional model is struggling to gain traction in a discretionary spending environment. Investors should monitor whether this trend reflects a fundamental saturation of the current market or an inability to effectively convert leads into completed procedures.
As reported in quarterly income statements, the company's gross margin has fluctuated significantly, dropping to 52.8% in the most recent period, which highlights the vulnerability of its high fixed-cost clinical structure to shifts in patient volume and the rising costs of medical service delivery.
The volatility in gross margins suggests that the company lacks the pricing power necessary to offset the impact of lower throughput. This compression indicates that the cost of maintaining specialized surgical facilities is becoming increasingly difficult to absorb as revenue per center continues to trend downward.
Based on the provided income statement data, AIRS has failed to demonstrate positive operating leverage, as evidenced by the recent negative operating margin of -3.18% which underscores the difficulty of scaling corporate overhead against a declining revenue base in a capital-intensive service environment.
The inability to achieve operating scale suggests that the company's SG&A expenses are not sufficiently flexible to adjust to lower demand levels. This lack of efficiency implies that the current business model may require a fundamental restructuring of its cost base to reach sustainable profitability.
Analysis of the company's recent filings reveals that stock-based compensation remains a recurring expense, with $559,000 recorded in the latest quarter, which continues to weigh on net income and complicates the assessment of true operational profitability for shareholders evaluating the firm's bottom-line performance.
The persistent use of stock-based compensation during periods of negative net income warrants further investigation into management's alignment with shareholder interests. This practice effectively masks the true cash cost of operations and may inflate the perceived value of the company's human capital investments.
Data from the latest income statements suggests that the company's reliance on high-cost digital marketing to drive volume is unsustainable, as the current negative operating margins indicate that the cost of acquiring each new patient may now exceed the marginal profit generated by the procedure.
Short-sellers would likely focus on the disconnect between the company's premium brand positioning and its deteriorating financial health. The lack of a clear path to positive operating cash flow suggests that the current trajectory may necessitate further external financing, which could be highly dilutive to existing equity holders.
Quick answers to the most common questions about buying AIRS stock.
For fiscal year 2025, AirSculpt Technologies, Inc. (AIRS) reported total revenue of $151.8M. This represents a 268.2% increase compared to $41.2M in 2019.
AirSculpt Technologies, Inc. (AIRS) reported a net loss of $11.7M for the fiscal year ending 2025.
AirSculpt Technologies, Inc. (AIRS) reported an operating income of $-4.8M, resulting in an operating profit margin of -3.2%. This margin reflects the operational efficiency of the business before interest and taxes.
AirSculpt Technologies, Inc. (AIRS) generated $90.1M in gross profit for the year, representing a gross profit margin of 59.4%. This demonstrates the company's core pricing power and production efficiency.