Record-Breaking Revenue and Growth
Total revenues increased 7% to $258.5 million compared to $241.7 million in the third quarter of 2024. Adjusted EBITDA increased 6% to $35 million compared to $33 million in the third quarter of 2024. Net income increased 13% to $24.3 million compared to $21.6 million in the third quarter of 2024.
Expansion of High-Value Services
Higher-value services, including MedSpa, IV therapy, and Acupuncture, showed strong double-digit increases in sales productivity. New technologies like Thermage FLX and CoolSculpting Elite generated 40% to 60% growth for treatments in Q3 compared to last year.
AI and Technology Enhancements
AI initiatives are being tested on 40 vessels to optimize yield and revenue and have been deployed on 180 vessels for operational efficiency. These initiatives aim to enhance revenue and create operational efficiencies.
Strong Balance Sheet and Capital Allocation
Returned $4.1 million to shareholders through dividends and $17.6 million from share repurchases. Reduced outstanding debt by $11.3 million and approved a 25% increase in quarterly dividend to $0.05 per share.