Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has AirSculpt Technologies, Inc. (AIRS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.AirSculpt Technologies, Inc. is one of 253 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The avera ...

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Core Viewpoint - AirSculpt Technologies, Inc. (AIRS) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][4][6]. Earnings Estimates and Ratings - The Zacks rating system is primarily driven by changes in a company's earnings picture, with the Zacks Consensus Estimate reflecting EPS estimates from sell-side analysts [2][3]. - The recent upgrade for AirSculpt Technologies suggests an improvement in its underlying business, which is expected to lead to increased stock prices due to investor interest [4][6]. Impact of Earnings Estimate Revisions - Changes in future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements, particularly influenced by institutional investors [5][7]. - For AirSculpt Technologies, the Zacks Consensus Estimate has increased by 11.1% over the past three months, reflecting a positive trend in earnings estimates [9]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [8][10]. - AirSculpt Technologies' upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [11].

Summary of the Earnings Call Company Overview - The company is a premier body contouring provider, operating 32 centers across 30 states in the U.S., one in Canada, and one in the UK, having started in 2012 [3][4] - The company has performed close to 75,000 procedures, indicating significant growth and patient satisfaction [4] Core Services - The company specializes in minimally invasive body contouring services, including fat removal, fat transfer, skin tightening, and cellulite removal [5][8][10][12] - The fat removal procedure can remove up to ten pounds of fat in a single session, with patients typically returning to normal activities within 24 hours [6][44] - The average ticket size for procedures is approximately $12,000 to $13,000, with all payments made in cash [7][16] Financial Performance - In 2024, the company generated approximately $180 million in revenue and $21 million in adjusted EBITDA [19][20] - The company has a strong historical performance, with a 34% compound annual growth rate (CAGR) in top-line revenue from 2019 to 2023 [25] - The average profit per procedure is around $8,000, contributing to significant EBITDA and cash flow generation [26][28] - The company has reduced its debt from $85 million at the time of going public in 2021 to $58 million as of the end of Q2 2023 [29] Growth Strategy - The company has paused new center openings in 2025 to focus on improving same-store sales growth due to recent downturns in core business [23][24] - There are over 100 potential new center opportunities in the U.S. and around 200 when including Canada [31] - The company has successfully doubled its center footprint from 16 to 32 since 2021 [17] Market Dynamics - The company has experienced some downturns due to macroeconomic pressures affecting high-end consumers [22] - The rise of GLP-1 medications (e.g., Ozempic) is expected to impact the aesthetics market, particularly in addressing skin laxity and volume loss [48][49] - The company is piloting a skin tightening procedure to address skin laxity resulting from weight loss associated with GLP-1 usage [50] Business Priorities - The company is focusing on two main areas: enhancing company culture and improving revenue through better marketing and sales strategies [32] - Key initiatives include optimizing marketing spend, expanding financing options for patients, and introducing new services [34][35][36] - Cost-saving measures have been implemented, resulting in over $3 million in annual savings [39] Outlook - The company has reiterated its annual revenue outlook of approximately $160 million to $170 million and adjusted EBITDA of $16 million to $18 million for the year [40] - The management believes that the company has a compelling business case and anticipates strong future growth once macroeconomic conditions stabilize [53]

Group 1 - AirSculpt Technologies, Inc. will participate in the Sidoti Micro Cap Conference virtually on August 20-21, 2025, with a presentation scheduled for 10:00am ET on August 20 [1] - The presentation will be available for live webcast and archived for 90 days [1] Group 2 - AirSculpt offers a next-generation body contouring treatment that is minimally invasive, designed to remove fat and tighten skin while allowing for quick healing and minimal bruising [2] - The procedure aims to provide precise results in sculpting targeted areas of the body [2]

Company Performance - AirSculpt Technologies, Inc. (AIRS) has achieved a year-to-date return of approximately 19.5%, significantly outperforming the average return of -1.3% for the Business Services sector [4] - The Zacks Consensus Estimate for AIRS' full-year earnings has increased by 15.8% over the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [3] Industry Comparison - AirSculpt Technologies, Inc. is part of the Technology Services industry, which has seen an average gain of 17.5% year-to-date, suggesting that AIRS is performing well within its specific industry [5] - Another stock in the Business Services sector, Limbach (LMB), has outperformed with a year-to-date return of 35.1% and a Zacks Rank of 2 (Buy) [4][5] Sector Ranking - The Business Services sector, which includes 255 individual stocks, currently holds a Zacks Sector Rank of 6, reflecting the average performance of its constituent stocks [2] - The Technology Services industry, where AirSculpt operates, is ranked 91 in the Zacks Industry Rank, indicating a relatively lower performance compared to other industries [5]

Core Viewpoint - AirSculpt Technologies reported a decline in revenue and case volume in Q2 FY2025, but management remains optimistic about achieving its full-year guidance despite ongoing challenges in demand and performance [1][12]. Financial Performance - GAAP revenue for Q2 FY2025 was $44.0 million, down 13.7% year-over-year and below analyst expectations of $45.45 million [1][5]. - Diluted EPS was a loss of $0.01, an improvement from a loss of $0.06 in Q2 2024, but below the expected $0.01 [1][2]. - Adjusted EBITDA decreased to $5.8 million from $6.9 million in the same quarter last year, reflecting a 15.0% decline [1][2]. - Case volume fell to 3,392, a 14.1% decrease from the previous year [2][5]. - Adjusted net income was $1.2 million, down 76.8% from $5.1 million in Q2 2024 [2]. Business Overview - AirSculpt Technologies specializes in minimally invasive body contouring procedures, known for avoiding needles and scalpels, appealing to patients seeking less downtime [3]. - The company operates 32 centers in affluent regions across the U.S., Canada, and the UK, focusing on performance, marketing, and innovation [4]. Operational Highlights - The company noted incremental operational progress, with improvements in revenue decline percentages compared to Q1 FY2025 [1][5]. - Average revenue per case remained steady at approximately $12,975, maintaining the company's premium pricing [5]. - Same-center case volume fell 22.0% in Q2 FY2025, indicating challenges in older locations despite overall company growth [10]. Strategic Initiatives - AirSculpt is piloting new offerings, including a standalone skin tightening procedure and expanded consumer financing options [7]. - The company reported a record increase in patient leads, although conversion rates to booked procedures remain slow [8][9]. Financial Management - Long-term debt was reduced by $16 million during Q2 FY2025, with $8.2 million in cash and no outstanding line of credit, enhancing balance sheet strength [11]. - Operating cash flow for the first half of 2025 was $5.9 million, down from $6.8 million in the same period of 2024 [11]. Future Guidance - The company maintained its full-year 2025 revenue guidance of $160 million to $170 million and adjusted EBITDA target of $16 million to $18 million [12]. - Management expressed cautious optimism about achieving annual guidance, contingent on improvements in case volume and lead conversion [12].

[PART I FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents AirSculpt Technologies' unaudited condensed consolidated financial statements as of June 30, 2025, reflecting decreased revenue and net losses compared to prior periods [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of June 30, 2025, shows total assets of $198.4 million, a decrease from $210.0 million at December 31, 2024, with total liabilities decreasing to $107.2 million and total stockholders' equity increasing to $91.2 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $16,405 | $17,117 | | **Total Assets** | **$198,367** | **$209,996** | | **Total Current Liabilities** | $25,829 | $28,609 | | **Total Liabilities** | **$107,210** | **$130,706** | | **Total Stockholders' Equity** | **$91,157** | **$79,290** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2025, the company reported a net loss of $0.6 million on revenue of $44.0 million, while for H1 2025, the net loss was $3.4 million on revenue of $83.4 million, a significant shift from prior-year net income Q2 Operating Results (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Revenue | $44,012 | $51,004 | | Income/(loss) from operations | $786 | $(4,981) | | Net (loss)/income | $(591) | $(3,206) | | Diluted (Loss)/income per share | $(0.01) | $(0.06) | Six-Month Operating Results (in thousands, except per share data) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Revenue | $83,383 | $98,624 | | (Loss)/income from operations | $(803) | $6,031 | | Net (loss)/income | $(3,438) | $2,823 | | Diluted (Loss)/income per share | $(0.06) | $0.05 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities for H1 2025 was $5.9 million, with net cash used in investing activities decreasing to $2.2 million and financing activities reflecting debt payments offset by public offering proceeds Six-Month Cash Flow Summary (in thousands) | Activity | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $5,852 | $6,807 | | Net cash used in investing activities | $(2,166) | $(5,580) | | Net cash used in financing activities | $(3,732) | $(1,623) | | **Net decrease in cash** | **$(46)** | **$(396)** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, a March 2025 credit agreement amendment, a June 2025 equity offering raising **$13.8 million** in net proceeds, and a **$10.4 million** stock compensation reversal in Q1 2024 - In March 2025, the Company amended its Credit Agreement to modify financial covenants, including the Consolidated Fixed Charge Coverage Ratio and Consolidated Leverage Ratio, and added new liquidity requirements[62](index=62&type=chunk)[64](index=64&type=chunk) - On June 11, 2025, the Company closed an underwritten public offering, receiving net proceeds of approximately **$13.8 million** from the sale of **3,634,000** shares. A portion of the proceeds was used to make a **$10.0 million** principal payment on its term loan[79](index=79&type=chunk)[80](index=80&type=chunk)[66](index=66&type=chunk) - In Q1 2024, the Company recorded a **$10.4 million** cumulative reversal of stock compensation expense related to performance-based stock units (PSUs) after determining the revenue target was improbable to achieve[76](index=76&type=chunk)[19](index=19&type=chunk)[95](index=95&type=chunk) - Advertising expenses decreased to **$7.3 million** in Q2 2025 from **$11.0 million** in Q2 2024, and to **$14.5 million** for H1 2025 from **$19.4 million** in H1 2024[48](index=48&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a revenue decline of **13.7%** for Q2 and **15.5%** for the first six months of 2025, attributed to broader aesthetics industry weakness, and outlines strategies including marketing optimization, sales process improvements, and a **$3.0 million** annual cost reduction program [Overview & Strategic Initiatives](index=27&type=section&id=Overview%20%26%20Strategic%20Initiatives) The company experienced a revenue decline of approximately **14%** in Q2 2025 and **15%** in H1 2025 year-over-year, prompting strategic initiatives focused on marketing, sales, customer experience, financing, and new product innovation, alongside a **$3.0 million** cost reduction program and a pause on new center openings - The company has launched several strategic priorities to stabilize revenue growth, including: - Optimizing marketing investment with a returns-based approach - Improving go-to-market and sales strategies under a new Chief Sales Officer - Enhancing the customer experience - Expanding consumer financing offerings - Focusing on new product innovation, such as a standalone skin tightening procedure[102](index=102&type=chunk)[104](index=104&type=chunk) - A cost reduction program has been implemented to eliminate approximately **$3.0 million** in annual overhead and contracted expenses, and the company has paused de novo center and new procedure room openings[102](index=102&type=chunk) [Key Operational and Business Metrics](index=27&type=section&id=Key%20Operational%20and%20Business%20Metrics) Total cases decreased by **14.1%** in Q2 2025 and **15.9%** in H1 2025, with same-center cases declining more significantly by **22.0%** and **23.1%**, while revenue per case saw a slight increase and the company expanded to **32** facilities Total Case and Revenue Metrics | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Cases | 3,392 | 3,949 | 6,468 | 7,695 | | Case growth | (14.1)% | N/A | (15.9)% | N/A | | Revenue per case | $12,975 | $12,916 | $12,892 | $12,817 | | Number of facilities | 32 | 27 | 32 | 27 | Same-Center Case Metrics | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Cases | 3,079 | 3,949 | 5,916 | 7,695 | | Case growth | (22.0)% | N/A | (23.1)% | N/A | [Non-GAAP Financial Measures](index=28&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA for Q2 2025 was **$5.8 million** (**13.3%** margin), down from **$6.9 million** (**13.5%** margin) in Q2 2024, and for H1 2025, it was **$9.6 million** (**11.5%** margin), down from **$14.2 million** (**14.4%** margin) in H1 2024 Adjusted EBITDA Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Net (loss)/income | $(591) | $(3,206) | $(3,438) | $2,823 | | **Adjusted EBITDA** | **$5,835** | **$6,868** | **$9,590** | **$14,205** | | **Adjusted EBITDA Margin** | **13.3%** | **13.5%** | **11.5%** | **14.4%** | Adjusted Net Income Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Net (loss)/income | $(591) | $(3,206) | $(3,438) | $2,823 | | **Adjusted net income** | **$1,187** | **$5,140** | **$79** | **$7,020** | | **Adjusted net income per share (Diluted)** | **$0.02** | **$0.09** | **$0.00** | **$0.12** | [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q2 2025 revenue decreased by **$7.0 million** (**13.7%**) due to lower case volume, while SG&A expenses decreased by **$11.6 million** (**33.9%**) primarily from reduced advertising, stock compensation, and severance costs, and cost of service as a percentage of revenue increased - Q2 2025 revenue decreased by **$7.0 million** (**13.7%**) YoY, attributed to weaker performance across the broader aesthetics industry[126](index=126&type=chunk) - Q2 2025 Selling, General and Administrative (SG&A) expenses decreased by **$11.6 million** (**33.9%**) YoY, driven by lower advertising costs (**$3.4M**), stock compensation (**$3.5M**), and severance costs (**$3.7M**)[128](index=128&type=chunk)[129](index=129&type=chunk) - H1 2025 revenue decreased by **$15.2 million** (**15.5%**) YoY, also attributed to weaker industry performance[135](index=135&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company had **$8.2 million** in cash and cash equivalents and **$5.0 million** available on its revolving credit facility, bolstered by a June 2025 equity offering that raised **$13.8 million** in net proceeds, used partly for debt repayment, and a March 2025 credit agreement amendment - As of June 30, 2025, the company had **$8.2 million** in cash and cash equivalents and **$5.0 million** available under its revolving credit facility[146](index=146&type=chunk) - In June 2025, the company completed a follow-on equity offering, raising net proceeds of approximately **$13.8 million**, and used the proceeds to make a **$10.0 million** principal payment on its term loan[157](index=157&type=chunk)[166](index=166&type=chunk) - The company amended its credit agreement in March 2025, modifying financial covenants, increasing interest rate margins, and shortening the maturity date to May 11, 2027[164](index=164&type=chunk)[165](index=165&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is a smaller reporting company and is not required to provide the information for this item - The company is exempt from this disclosure requirement as it qualifies as a smaller reporting company[170](index=170&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting identified during the quarter - Management concluded that disclosure controls and procedures were effective as of June 30, 2025[172](index=172&type=chunk) - No material changes in internal control over financial reporting were identified during the quarter ended June 30, 2025[173](index=173&type=chunk) [PART II OTHER INFORMATION](index=44&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal actions, primarily related to medical malpractice claims, which are not expected to have a material adverse effect on its financial condition and are generally covered by insurance - The company faces routine legal actions, mainly medical malpractice claims, which are not expected to have a material adverse impact on its financial condition, results of operations, or cash flows[178](index=178&type=chunk) [Risk Factors](index=44&type=page&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes to risk factors were reported since the Annual Report on Form 10-K for the year ended December 31, 2024[179](index=179&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period - None reported for the period[180](index=180&type=chunk) [Other Information](index=44&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated any Rule 10b5-1 trading arrangements during the quarter ended June 30, 2025 - No directors or officers adopted or terminated any "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" during the quarter[183](index=183&type=chunk) [Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officer certifications pursuant to Sarbanes-Oxley Act sections 302 and 906, and Inline XBRL data files - The report includes required certifications from the Principal Executive Officer and Principal Financial Officer, as well as Inline XBRL documents, as filed exhibits[185](index=185&type=chunk)

Financial Data and Key Metrics Changes - Revenue for the second quarter was $44 million, a decline of 13.7% compared to the prior year quarter, with adjusted EBITDA at $5.8 million, reflecting a margin of 13.3% [8][17][19] - Same store revenue declined approximately 22% year-over-year, while cases decreased by 14.1% to 3,392 [17][19] - Average revenue per case was approximately flat at $12,975 compared to the previous year [17] Business Line Data and Key Metrics Changes - The company experienced a sequential improvement in year-over-year revenue performance and a record level of lead growth, alongside a meaningful increase in consultation volume [6][7] - The percentage of patients using financing for procedures increased to 50%, up from 44% in the first quarter [18] Market Data and Key Metrics Changes - The company noted a challenging macro environment affecting consumer spending, leading to lower case volumes [9][17] - Despite the challenges, there was strong consumer interest in AirSculpt's offerings, with record high lead generation and improved marketing efficiency [11][12] Company Strategy and Development Direction - The company is focused on enhancing its culture and improving its go-to-market strategy, which includes reallocating marketing spend to proven strategies and optimizing sales processes [10][11][12] - New service offerings, such as a skin tightening procedure pilot, are being introduced to tap into consumer demand [13][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategy to stabilize sales and return to growth, despite ongoing consumer spending uncertainty [15][16] - The company reiterated its annual outlook, expecting revenue in the range of $160 million to $170 million and adjusted EBITDA between $16 million and $18 million for fiscal 2025 [22][23] Other Important Information - The CFO announced plans to retire later this year, with a search underway for a replacement [5] - The company repaid $16 million in debt during the quarter, improving its financial position and reducing its leverage ratio to 2.87 times [20][21] Q&A Session Summary Question: Guidance implies revenues that are flattish in the second half, what are the drivers for that acceleration? - Management noted that while consumer uncertainty remains, there is strong interest in AirSculpt, with record high leads and consultations, which should help stabilize revenue [26][27] Question: Update on the skin tightening offering and its impact on revenue? - Management confirmed that there are no standalone skin tightening expectations in guidance yet, but strong interest has been observed [29][30] Question: Performance of the new centers opened in 2024? - The new centers are performing in line with expectations but are facing similar consumer pressures as existing locations [35] Question: Any seasonal considerations for the third quarter? - Management indicated a typical softening in Q3, with expectations for improvement in Q4 due to cost initiatives and marketing efforts [37] Question: Update on the London facility's performance? - The London facility has shown improvement but remains cash flow negative, with management focused on enhancing results [40] Question: Insights on consumer sentiment and market dynamics? - Management observed tentative consumer behavior, with leads and consultations strong but consumers hesitant to commit to purchases [44] Question: What needs to happen before considering expansion opportunities? - The focus remains on improving same store sales growth before revisiting expansion plans [46][47]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $44 million, a decline of 13.7% from the prior year quarter, with adjusted EBITDA at $5.8 million, reflecting a margin of 13.3% compared to 13.5% in Q2 2024 [7][18][20] - Same store revenue declined approximately 22% year-over-year, although it improved marginally from Q1 2025 [8][18] - Average revenue per case was approximately $12,975, consistent with the previous year [18] Business Line Data and Key Metrics Changes - Cases declined by 14.1% to 3,392, primarily due to a challenging market environment [18] - The percentage of patients using financing for procedures increased to 50%, up from 44% in Q1 2025 [19] - Customer acquisition cost decreased to $2,905 per case from $3,325 in the prior year quarter, marking the first quarter-over-quarter decline since going public [20] Market Data and Key Metrics Changes - The company experienced strong consumer interest, with record levels of lead growth and increased consultation volume [7][11] - The macroeconomic environment remains challenging, impacting consumer spending and leading to hesitancy in purchasing decisions [28][46] Company Strategy and Development Direction - The company is focused on five business priorities: enhancing marketing strategies, optimizing sales, introducing new services, improving customer experience, and investing in technology [10][11][12][14] - A pilot for a new skin tightening procedure was launched in Q2 2025, with plans to expand it further [13][31] - The company aims to stabilize sales and return to growth, with no planned new center openings for 2025 [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategy to stabilize sales and improve profitability despite the challenging operating environment [7][15] - The company reiterated its annual outlook, expecting revenue between $160 million and $170 million and adjusted EBITDA between $16 million and $18 million for fiscal 2025 [23] Other Important Information - The CFO announced plans to retire later in the year, with a search underway for a replacement [5] - The company repaid $16 million in debt during the quarter, improving its financial position [21][22] Q&A Session Summary Question: Guidance implies revenues that are flattish in the second half, what are the drivers for the acceleration? - Management noted that while consumer uncertainty persists, record high leads and consultation growth are expected to stabilize revenue and improve EBITDA margins in the second half [28][29] Question: Update on the skin tightening offering and its impact on revenue? - Management confirmed that there are no standalone expectations for skin tightening in guidance, but strong interest has been observed [31][32] Question: Performance of the new centers opened in 2024? - The new centers are performing in line with expectations, though lower than historical averages due to consumer pressures [36][37] Question: Any seasonality considerations for Q3? - Management indicated typical softening in Q3, with expectations for improvement in Q4 as cost initiatives take effect [38][39] Question: Update on the London facility's performance? - The London facility has shown improvement but remains cash flow negative, with management focused on enhancing results [41] Question: Insights on consumer sentiment and market dynamics? - Management noted a choppiness in consumer behavior, with consumers hesitant to make purchases, but believes the company is well-positioned compared to competitors [46]