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AirSculpt Technologies Announces Fourth Quarter 2022 Results and Provides 2023 Guidance
MIAMI BEACH, Fla., March 10, 2023 (GLOBE NEWSWIRE) -- AirSculpt Technologies, Inc. (NASDAQ:AIRS)(“AirSculpt” or the “Company”), a national provider of premium
About this update from Airsculpt Technologies, Inc.
[{"type":"text","content":"MIAMI BEACH, Fla., March 10, 2023 (GLOBE NEWSWIRE) -- AirSculpt Technologies, Inc. (NASDAQ:AIRS)(“AirSculpt” or the “Company”), a national provider of premium body contouring procedures, today announced results for the fourth quarter and full year ended December 31, 2022. Fourth quarter cases increased 15.7% over the prior year; full year increase of 18.2%Fourth quarter revenue increased 8.4% over the prior year; full year increase of 26.6%Diluted loss per share for the full year of $(0.26)Diluted adjusted net income per share for the full year of $0.37Fourth quarter cash flow from operating activities of $6.6 million; full year of $24.4 millionOpened first international center in Toronto; confirming five planned openings in 2023 “We continue to see strong demand for AirSculpt, which was evidenced by our almost 16% increase in cases over the prior year quarter,” said Dr. Aaron Rollins, Executive Chairman of the Board of AirSculpt Technologies. “Our pipeline for adding new centers is robust and we look forward to entering five new markets in 2023, which will include our second international location. I’m also excited about the recently announced addition of Todd Magazine to our executive management team and I look forward to working closely with him.” Todd Magazine, Chief Executive Officer of AirSculpt Technologies, stated, “I am excited about working with Dr. Rollins and the team to build upon AirSculpt's strong foundation of success. There is a tremendous opportunity to increase growth by leveraging AirSculpt's proprietary technology and premium experience, as well as by building awareness of the brand. I look forward to building on past achievements by delivering continued revenue growth as well as enhancing our profitability through margin expansion to provide further value to our shareholders.” Fourth Quarter 2022 Results Case volume was 3,337 for the fourth quarter of 2022, representing growth of 15.7% over the prior year period case volume of 2,885. Revenue for the fourth quarter of 2022 increased by 8.4% to $40.7 million from $37.6 million in the prior year period. Net loss for the quarter was $(7.2) million and was impacted by a $0.6 million increase in equity-based compensation compared to the prior year period and an approximately $0.9 million loss on debt extinguishment which did not exist in the prior year period. Th...