Business
AirSculpt Technologies, Inc. Announces Third Quarter 2021 Results
MIAMI BEACH, Fla., Dec. 03, 2021 (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., Dec. 03, 2021 (GLOBE NEWSWIRE) -- AirSculpt Technologies, Inc. (NASDAQ:AIRS)(“AirSculpt” or the “Company”), a national provider of premium body contouring procedures, today announced results for the third quarter ended September 30, 2021. Cases increased 60.4% from prior year period to 2,743 casesRevenue increased 94.3% from prior year period to $34.7 million Same-center revenue per case increased 20.3% from the prior year periodSame-center cases increased 29.9% from the prior year period Net income was $8.1 million as compared to the prior year period of $2.9 millionAdjusted EBITDA increased to $12.1 million, growth of 127.2% over the prior year periodClosed initial public offering and received net proceeds of $13.5 million after deducting underwriting fees and related offering expenses “We are very pleased with our financial performance for the third quarter as we continue to see strong demand for our dramatic body contouring services,” said Dr. Aaron Rollins, Chief Executive Officer of AirSculpt Technologies. “It’s clearly been an exciting year for the company. We completed our IPO on October 28th and recently we announced the opening of our two newest centers in Miami Beach and Salt Lake City bringing our total center count to 18 as of today.” Ron Zelhof, Chief Operating Officer, commented, “Our revenues continue to be fueled by both volume increases and higher revenue per case compared to prior periods. Patients are continuing to have multiple areas treated at one time which we attribute to a more knowledgeable patient about what is possible with AirSculpt. We believe that our dedicated sales team alongside of our marketing efforts, including AirSculpt TV, are driving much of the rate growth we are experiencing.” Third Quarter 2021 Results Case volume was 2,743 for the third quarter of 2021, representing growth of 60.4% over the prior year period case volume of 1,710. Revenue for the third quarter of 2021 increased by 94.3% to $34.7 million from $17.8 million in the prior year period. Same-center cases and revenue per case for the third quarter of 2021 were up 29.9% and 20.3%, respectively, over the prior year period. Net income for the quarter grew to $8.1 compared to $2.9 million in the prior year period and pro forma net income increased to $6.1 million from $2.4 million. For the third quarter 2021, th...