Core Viewpoint - AirSculpt Technologies, Inc. has successfully completed a common stock offering, generating net proceeds of approximately $13.8 million, which will be used to prepay $10 million of its outstanding term loan debt, enhancing its capital structure and financial flexibility [1][2]. Financial Performance - The company has prepaid $10 million of its outstanding debt, improving its capital structure [1][2]. - After the stock offering, AirSculpt has 62,436,670 shares of common stock outstanding [2]. - The company retains full availability of $5 million under its revolving credit facility after making a remaining payment of $2.9 million on June 16, 2025 [2]. Strategic Initiatives - The prepayment of debt is part of the company's strategy to advance its transformation and position itself for sustained long-term growth in revenue and profitability [2]. - The company does not anticipate the need for additional material capital raises this year, assuming no significant changes in the macroeconomic environment [1]. Product Offering - AirSculpt provides a next-generation body contouring treatment that is minimally invasive, designed to optimize comfort and precision, allowing for quick healing with minimal bruising and precise results [3].

Core Viewpoint - AirSculpt Technologies, Inc. has successfully closed a public offering of 3,160,000 shares of common stock, with an additional 474,000 shares purchased by the underwriter, resulting in estimated proceeds of approximately $13.8 million after expenses [1][2]. Group 1: Offering Details - The public offering was underwritten by Leerink Partners, who acted as the sole bookrunner [2]. - The majority of the net proceeds from the offering will be used for prepaying a portion of the Company's outstanding debt under its existing credit agreement, while the remainder will be allocated for general corporate purposes, including working capital and other business opportunities [2]. Group 2: Regulatory Information - A shelf registration statement for the shares was filed with the Securities and Exchange Commission (SEC) and became effective on March 24, 2025 [3]. - A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are accessible on the SEC's website [3]. Group 3: Company Overview - AirSculpt is a provider of next-generation body contouring treatments, focusing on comfort and precision, with procedures designed to remove fat and tighten skin while allowing for quick healing and minimal bruising [5].

Core Viewpoint - AirSculpt Technologies, Inc. has announced a public offering of 3,160,000 shares of common stock priced at $3.80 per share, aiming to raise $12.0 million before expenses [1][2]. Group 1: Offering Details - The company has granted the underwriter a 30-day option to purchase up to 474,000 additional shares at the same price [1]. - The offering is expected to close on or about June 11, 2025, subject to customary closing conditions [1]. Group 2: Use of Proceeds - A majority of the net proceeds from the offering will be used for the prepayment of a portion of the company's outstanding indebtedness under its existing credit agreement [2]. - The remainder of the net proceeds will be allocated for general corporate purposes, including working capital and other business opportunities [2]. Group 3: Company Overview - AirSculpt is a provider of next-generation body contouring treatments designed for comfort and precision, focusing on minimally invasive procedures that remove fat and tighten skin [5].

Core Viewpoint - AirSculpt Technologies, Inc. has announced a public offering of 3,160,000 shares of its common stock, with an additional option for underwriters to purchase up to 474,000 shares [1][2]. Group 1: Offering Details - The public offering consists of 3,160,000 shares of common stock, with a 30-day option for underwriters to buy an additional 474,000 shares [1]. - Vesey Street Capital Partners, the largest stockholder, is interested in purchasing up to $4.0 million in shares from the offering [2]. - Leerink Partners is acting as the sole bookrunner for the offering [3]. Group 2: Use of Proceeds - A portion of the net proceeds from the offering will be used to prepay part of the Company's outstanding debt under its existing credit agreement [3]. - The remaining proceeds will be allocated for general corporate purposes, including working capital and other business opportunities [3]. Group 3: Regulatory Information - A shelf registration statement for the shares was filed with the Securities and Exchange Commission and became effective on March 24, 2025 [4].

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Financial Performance - Revenue for Q1 2025 was $39.371 million, a decrease of 17% compared to $47.620 million in Q1 2024[18] - The net loss for Q1 2025 was $2.847 million, compared to a net income of $6.029 million in Q1 2024, reflecting a significant decline in profitability[18] - Adjusted net loss for the three months ended March 31, 2025, was $1.1 million, compared to an adjusted net income of $1.9 million for the same period in 2024[123] - For the three months ended March 31, 2025, the company generated approximately $39.4 million in revenue, a decline of approximately 17% compared to $47.6 million for the same period in 2024[101] - The company reported a net loss of $2.847 million for Q1 2025, compared to a net income of $6.029 million in Q1 2024[112] Expenses and Costs - Operating expenses increased to $40.960 million in Q1 2025, up from $36.608 million in Q1 2024, primarily due to a rise in selling, general, and administrative expenses[18] - Selling, general and administrative expenses increased by $6.0 million, or 38.2%, for the three months ended March 31, 2025, with selling expenses decreasing to approximately $9.6 million from $11.2 million[126][127] - Cost of service decreased by $2.1 million, or 11.6%, compared to the same period in 2024, with cost of service as a percentage of revenue at 40.5% for 2025 and 37.9% for 2024[125] - The company incurred rent expenses of $1.8 million for medical office suites in Q1 2025, compared to $1.5 million in Q1 2024[76] Cash and Liquidity - Cash and cash equivalents decreased to $5.553 million as of March 31, 2025, down from $8.235 million at the end of 2024[15] - The Company maintains cash balances that may exceed the amount covered by the Federal Deposit Insurance Corporation, with no losses experienced in such accounts[37] - The company is required to maintain minimum liquidity of $3.0 million as of March 31, 2025, increasing to $7.5 million thereafter[147] Assets and Liabilities - Total assets as of March 31, 2025, were $203.260 million, a decrease from $209.996 million at the end of 2024[15] - Total liabilities decreased to $125.927 million as of March 31, 2025, compared to $130.706 million at the end of 2024[15] - As of March 31, 2025, total debt, net was $68.5 million, down from $69.7 million as of December 31, 2024[74] Tax and Regulatory - The effective tax rate for the three months ended March 31, 2025, was approximately 11.4%, significantly lower than the 36.4% rate for the same period in 2024[59] - The effective tax rate for the three months ended March 31, 2025, was 11.4%, compared to 36.4% for the same period in 2024[131] Operational Metrics - The company performed 3,076 cases in Q1 2025, down from 3,746 cases in Q1 2024, representing a case growth decline of 17.9%[104] - Same-center case growth declined by 24.3% in Q1 2025, with revenue per case slightly increasing by 0.5% to $12,777[107] - The number of facilities increased to 32 in Q1 2025 from 27 in Q1 2024, and the total number of procedure rooms rose to 67 from 57[104] Debt and Financing - The Company voluntarily prepaid $10.0 million of the principal balance of term loans under the Credit Agreement on September 29, 2023[69] - The Company entered into a credit agreement on November 7, 2022, with an original aggregate principal amount of term loans of $85.0 million and a revolving loan facility of up to $5.0 million[144] - As of March 31, 2025, the total indebtedness of the company was $73.5 million, including $5.0 million drawn on the revolving credit facility[143] Equity and Compensation - The Company granted 888,301 restricted stock units (RSUs) in Q1 2025, up from 411,456 RSUs in Q1 2024[79] - The Company recorded equity-based compensation expense of $1.2 million for Q1 2025, compared to a reversal of $(6.8) million in Q1 2024[83] Strategic Initiatives - The company has implemented a cost reduction program expected to eliminate approximately $3.0 million in annual overhead costs and contracted expenses[102] - The company is focusing on new product innovation, including a pilot skin tightening procedure as a standalone offering[105] - The company plans to launch expanded consumer financing offerings across all centers by the end of Q2 2025[105] Miscellaneous - There were no changes in internal control over financial reporting that materially affected the company during the quarter ended March 31, 2025[157] - No relevant financial performance or user data was provided in the documents[169] - There are no future outlook or performance guidance details available in the content[170] - No information regarding new products or technology development was found in the documents[171] - There are no mentions of market expansion or acquisitions in the provided content[172] - No new strategies or initiatives were outlined in the documents[172]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $39.4 million, a decline of 17.3% from Q1 2024, with adjusted EBITDA at $3.8 million and a margin of 9.5%, down from $7.3 million and 15.4% in the prior year [7][21][24] - Same store revenue declined approximately 24% year-over-year, consistent with expectations and Q4 trends [9][21] - Average revenue per case was $12,799, slightly higher than the first quarter of 2024 [21] Business Line Data and Key Metrics Changes - The decline in revenue was primarily driven by lower case volume, with cases down 17.9% to 3,070 [21] - Cost of service decreased by $2.1 million compared to the prior year, but as a percentage of revenue increased to 40.5% from 37.9% [22][23] - Customer acquisition cost for the quarter was $3,130 per case, up from $2,990 in the prior year quarter [24] Market Data and Key Metrics Changes - The percentage of patients using financing to pay for procedures was 44%, down from 50% in Q4 2024 [22] - The company operates in a challenging macroeconomic environment, impacting consumer spending and case volumes [19][50] Company Strategy and Development Direction - The company is focused on stabilizing performance and laying the foundation for long-term growth, with a plan to improve marketing efficiency and operational rigor [6][19] - New services, such as a skin tightening procedure pilot, are being introduced to tap into more consumer demand [16] - The company is reallocating marketing spend to proven strategies, including search engine and social media marketing, while testing new areas like online video [15][44] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the business's ability to return to growth and improve profitability, despite current challenges [20][19] - The guidance for fiscal 2025 revenue is projected between $160 million and $170 million, with adjusted EBITDA between $16 million and $18 million [18][26] - The company is closely monitoring consumer behavior and economic conditions, particularly inflationary pressures and changes in sentiment [19][50] Other Important Information - The company is focused on reducing leverage to historical levels, with a leverage ratio of 3.76 times as of March 31, 2025 [25] - Cash flow from operations for the quarter was $900,000, down from $3.4 million in Q1 2024 [26] Q&A Session Summary Question: Can you speak to some of the specific cost savings that you saw in the quarter? - Management noted that significant cost savings were achieved through workforce changes, targeting $3 million in savings for the year [29] Question: What is the potential margin you think you can achieve on $160 million to $170 million of revenues? - Management expects to approach long-term EBITDA margins of around 30% as revenue trends improve [31] Question: Have you seen any improvement in the rate of conversion to cases? - Management indicated that the time to book cases remains elongated due to macroeconomic pressures, but lead volume growth is encouraging [38] Question: What does the low end versus the high end of your guidance assume for the current macro environment? - The low end assumes further moderation in consumer spending, while the high end incorporates benefits from initiatives like financing options [49] Question: When will the new financing options roll out? - The rollout of expanded financing options is expected by the end of Q2 2025 [54]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $39.4 million, a decline of 17.3% from Q1 2024, with adjusted EBITDA at $3.8 million and a margin of 9.5%, down from $7.3 million and 15.4% in the prior year [7][21][25] - Same store revenue decreased approximately 24% year-over-year, consistent with expectations [9][21] - Average revenue per case was $12,799, slightly higher than the previous year [21] Business Line Data and Key Metrics Changes - The decline in revenue was primarily driven by lower case volumes, with cases down 17.9% to 3,070 [21] - Cost of service decreased by $2.1 million compared to the prior year, but as a percentage of revenue increased to 40.5% from 37.9% due to fixed costs [22][23] - Customer acquisition cost rose to $3,130 per case from $2,990 in the prior year, driven by decreased case volumes [25] Market Data and Key Metrics Changes - The percentage of patients using financing for procedures was 44%, down from 50% in the previous quarter [22] - The company operates in a challenging macroeconomic environment, impacting consumer spending and case volumes [6][19] Company Strategy and Development Direction - The company is focused on stabilizing performance and laying the foundation for long-term growth, with a strategic emphasis on cost discipline, marketing efficiency, and operational rigor [6][7] - New marketing strategies have been implemented, reallocating spend to effective channels such as search engine marketing and social media [15][46] - A pilot for a new skin tightening procedure is being launched, expected to broaden consumer reach and create a new revenue stream [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the softening consumer environment and internal challenges but remains confident in the steps taken to reposition the business for sustained success [6][19] - The company expects fiscal 2025 revenue in the range of $160 million to $170 million and adjusted EBITDA between $16 million and $18 million, reflecting current economic conditions [18][27] - Management is closely monitoring consumer behavior and inflationary pressures, which could impact discretionary spending [19] Other Important Information - The company is committed to reducing leverage to historical levels and is in compliance with all covenants under its credit agreement [26] - Cash flow from operations for the quarter was $900,000, down from $3.4 million in the prior year [27] Q&A Session Summary Question: Can you speak to some of the specific cost savings that you saw in the quarter? - Management noted significant cost savings from workforce changes, targeting $3 million in savings for the year [30] Question: What is the potential margin you think you can achieve on $160 million to $170 million of revenues? - Management expects to approach long-term EBITDA margins of around 30% as revenue trends improve [32] Question: Have you seen any improvement in the rate of conversion to cases? - Management indicated that the time to book cases remains elongated due to macroeconomic pressures, but lead volumes are growing [40] Question: What does the low end versus the high end of your guidance assume for the current macro? - The low end assumes further moderation in consumer spending, while the high end incorporates benefits from new initiatives [52] Question: When will the new financing options roll out? - The rollout is expected by the end of Q2, aimed at providing consumers with more flexible payment options [56]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $39.4 million, a decline of 17.3% from Q1 2024, with adjusted EBITDA at $3.8 million and a margin of 9.5%, down from $7.3 million and 15.4% in the prior year [6][23][24] - Same store revenue decreased approximately 24% year-over-year, consistent with previous trends [7][20] - Average revenue per case was $12,799, slightly higher than the first quarter of 2024 [20][23] Business Line Data and Key Metrics Changes - Cases declined by 17.9% to 3,070, primarily due to lower consumer spending and reduced marketing efforts [20][21] - The percentage of patients using financing for procedures was 44%, down from 50% in the previous quarter [21] Market Data and Key Metrics Changes - The company operates in a challenging macroeconomic environment, impacting consumer spending and case volumes [5][18] - Despite the decline, there was an improvement in lead generation and case performance from February to April 2025 [7][20] Company Strategy and Development Direction - The company is focused on stabilizing performance and laying the foundation for long-term growth through cost discipline, marketing efficiency, and operational rigor [5][6] - Strategic priorities include reallocating marketing spend to effective channels, optimizing sales processes, and introducing new services to meet consumer demand [14][15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's transformation efforts and the potential for future growth, despite current economic pressures [5][19] - The guidance for fiscal 2025 anticipates revenue between $160 million and $170 million, with adjusted EBITDA between $16 million and $18 million, reflecting a cautious outlook due to uncertain consumer behavior [17][25] Other Important Information - The company is monitoring inflationary pressures and consumer sentiment, which could impact discretionary spending on procedures [18] - Cost of service decreased by $2.1 million compared to the prior year, but as a percentage of revenue increased to 40.5% due to fixed costs [21][22] Q&A Session Summary Question: Specific cost savings and sustainability - Management noted significant cost savings from workforce changes, targeting $3 million in savings for the year [28] Question: Potential EBITDA margins and case growth - Management expects EBITDA margins to approach historical levels of around 30% as same store revenue improves [30] Question: Momentum in cases and seasonal patterns - Management confirmed improvements in cases were both seasonal and due to strategic initiatives, with a target for same store sales growth by year-end [31] Question: Underlying assumptions in guidance - Guidance incorporates a range of scenarios, with the low end accounting for further moderation in consumer spending [47][48] Question: Financing options and their impact - Financing options are expected to roll out by the end of Q2, which management believes will help increase case volumes [52][54]

Financial Performance - First quarter 2025 revenue was $39.4 million, a decline of 17.3% from $47.6 million in the first quarter of fiscal year 2024[6] - The net loss for the quarter was $2.8 million, compared to a net income of $6.0 million in the first quarter of fiscal year 2024[6] - Adjusted EBITDA for the first quarter was $3.8 million, down from $7.3 million in the first quarter of fiscal year 2024[6] - Adjusted net loss for Q1 2025 was $1,108,000, while adjusted net income for Q1 2024 was $1,880,000[31] - Basic and diluted Adjusted Net Income per share for Q1 2025 was $(0.02), compared to $0.03 in Q1 2024[31] Case Volume and Revenue per Case - Case volume decreased by 17.9% to 3,076 in the first quarter of 2025, down from 3,746 in the same period last year[6] - For the three months ended March 31, 2025, the company reported 2,837 cases, a decrease of 24.3% compared to 3,746 cases in the same period of 2024[22] - The average revenue per case increased slightly to $12,799 in the first quarter of 2025 from $12,712 in the first quarter of 2024[20] - Revenue per case increased by 0.5% to $12,777 from $12,712 year-over-year[22] Cash Flow and Guidance - The company generated $0.9 million in operating cash flow for the first quarter of 2025, compared to $3.4 million for the same period in 2024[5] - As of March 31, 2025, the company had $5.6 million in cash and cash equivalents, down from $8.2 million at the end of 2023[20] - The company projects full year 2025 revenue guidance of approximately $160 to $170 million[6] - Adjusted EBITDA guidance for the full year 2025 is expected to be approximately $16 to $18 million[6] Operational Costs and Expenses - The company incurred $1,239,000 in equity-based compensation in Q1 2025, compared to a reversal of $(6,781,000) in Q1 2024[29] - Restructuring and related severance costs were $863,000 in Q1 2025, up from $296,000 in Q1 2024[29] - The company reported an interest expense of $1,625,000 in Q1 2025, slightly up from $1,532,000 in Q1 2024[29] Facilities and Services - The company maintained 27 facilities and 57 total procedure rooms in both Q1 2025 and Q1 2024[22] - The company is piloting a standalone skin tightening service, which has seen increasing interest from consumers[3]