Airsculpt Technologies, Inc. ( (AIRS) ) has released its Q4 earnings. Here is a breakdown of the information Airsculpt Technologies, Inc. presented to its investors.
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AirSculpt Technologies, Inc. is a national provider of minimally invasive body contouring procedures, specializing in a proprietary method that offers quick healing and precise results. The company, which operates 32 centers internationally, has released its financial results for the fourth quarter and full year of fiscal 2024. Despite a challenging year, AirSculpt is focusing on strategic improvements to enhance shareholder value.
In the recent earnings report, AirSculpt Technologies revealed a decline in both quarterly and annual revenues, with fourth-quarter revenue dropping by 17.7% to $39.2 million and full-year revenue decreasing by 7.9% to $180.4 million. The company also reported a net loss of $5.0 million for the fourth quarter and $8.3 million for the full year. Adjusted EBITDA for the quarter was $1.9 million, a significant decrease from $10.1 million in the previous year.
The company is implementing several strategic initiatives to stabilize and grow its business. These include optimizing marketing investments, enhancing sales training, expanding consumer financing options, and focusing on product and sales innovation. Additionally, AirSculpt has initiated a cost reduction program expected to save approximately $3 million annually and has paused new center openings to focus on existing operations.
Looking ahead, AirSculpt’s management remains optimistic about the company’s potential for growth. While the first quarter of 2025 may face challenges due to reduced marketing activities, the company expects sequential improvements throughout the year as its strategic priorities take effect. AirSculpt aims to leverage its competitive advantages and proprietary methods to achieve positive revenue and profit growth in the future.